13 Jun Pupil-Centered Funding Formula – SB 543
Historic legislation was passed in the 2019 Legislature to modernize Nevada’s funding formula for the first time in more than 50 years. Nevada had the oldest funding formula in the nation. This update is crucial as we work to accelerate student achievement and move toward adequate funding throughout Nevada.
While no legislation is perfect, SB543 addresses most of our concerns with the old Nevada Plan. This formula:
- Is more transparent about where the money goes.
- SB543 ensures we can identify dollars that are being spent on K-12 education so we can better ensure they remain with public education.
- Protects money set aside for education to make sure it stays with education.
- SB543 places all education funding into a separate state fund, the Nevada Education Fund.
- This “lock box” is intended to ensure that education dollars are clearly identified and stay with education.
- SB543 also provides that under normal economic circumstances the Governor and Legislature will increase the State General Fund allocations to K-12 education each year.
- The governor has stated on the record he would make adjustments only in extraordinary circumstances, such as a natural disaster.
- This ensures that base funding remains whole and that growth in other education resources is not used to offset or “supplant” the state’s General Fund commitment to public schools.
- Implements a modernized, student-centered weighted funding formula
- Some students cost more to educate.
- SB 543 will create weights for English Language Learners, at-risk students, special education students, and gifted and talented students while allowing for the continuation of current programs that are working, such as Zoom Schools.
- It creates a Commission on School Funding that includes financial experts to monitor the implementation of the funding formula and provide guidance and recommendations to school districts, the Nevada Department of Education, the Governor, and the Legislature.
- Allows the district to maintain a two-month ending fund balance
- CCSD’s ending fund balance has gone below .78 percent on general operating fund.