2026-27 Proposed Budget.pdf (7,676 KB)

Regular Meeting, June 9, 2026 · item 8.8: Resolutions 26-19, -20, -21, -25 Adoption of the 2026-27 Budget · 266 pages

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2026-27 PROPOSED BUDGET Boulder Valley School District 6500 E. Arapahoe Road, Boulder, CO 80303 303-447-1010, www.bvsd.org

2026-27 PROPOSED BUDGET Prepared by: Business Services Division Bill Sutter, SFO Chief Financial Officer

2026-27 Proposed Budget Superintendent’s Welcome Thank you for your interest in the Boulder Valley School District and our annual budget. I’m incredibly proud of the outstanding work happening in BVSD classrooms every day as well as the thoughtful stewardship of the public resources that make that work possible. Our commitment to academic excellence and fiscal responsibility go hand in hand. Our strategic plan continues to guide every aspect of our work — educationally, operationally, and financially. The priorities outlined in All Together for All Students serve as the foundation for this budget and our ongoing efforts to ensure every student has the opportunity to learn, grow, and thrive. As we continue to deepen the work of our All Together for All Students Strategic Plan, BVSD students are achieving at the highest levels in our district’s history. From academic growth and achievement to postsecondary readiness and student support, our results continue to demonstrate what is possible when a community invests in public education. In fact, BVSD has become the only Metro Denver school district to earn the Colorado Department of Education’s Accredited with Distinction designation for two consecutive years. These accomplishments come at a time when school districts across Colorado, including BVSD, are navigating significant financial pressures. Declining enrollment, rising operational costs, and ongoing budget constraints require us to make thoughtful, strategic decisions about how we allocate resources while continuing to deliver the exceptional educational experiences our students and families expect and deserve. For generations, BVSD has maintained a strong tradition of careful financial management and transparency. We remain deeply committed to honoring the trust our taxpayers place in us by investing every dollar responsibly and in ways that directly support student learning and success. We are proud that, for many years, BVSD has been recognized by both the Association of School Business Officials International and the Government Finance Officers Association for excellence in financial reporting. These recognitions reflect our belief that our community deserves clear, accessible, and transparent information about how district resources are managed. Our goal is always for our stakeholders to fully understand and support the work happening across BVSD. That is especially important when it comes to our finances. This budget reflects not only our values and priorities as a district, but also our continued commitment to providing every student with access to rigorous academics, meaningful opportunities, and the support they need to succeed. Thank you for your continued support of the amazing students, staff, and community of the Boulder Valley School District. Rob Anderson Superintendent

2026-27 Proposed Budget

Acknowledgements and Awards

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Acknowledgements and Awards (continued)

2026-27 Proposed Budget

MAIN TABLE OF CONTENTS Superintendent’s Welcome .............................................................................................................................. 1 Acknowledgements and Awards ....................................................................................................................... 2 MAIN TABLE OF CONTENTS ............................................................................................................................ 5 EXECUTIVE SUMMARY .................................................................................................................................. 11 Board of Education Members ......................................................................................................................... 13 District Leadership ........................................................................................................................................ 14 Letter of Transmittal ..................................................................................................................................... 15 Our Purpose ................................................................................................................................................. 16

Vision ..................................................................................................................................................... 16 Mission ................................................................................................................................................... 16 Value Statements .................................................................................................................................... 16

Strategic Plan ............................................................................................................................................... 17

New Strategic Objectives ......................................................................................................................... 18

Budget Development Process......................................................................................................................... 19 Principal Issues Facing the District ................................................................................................................. 21 Addressing Negative Trends .......................................................................................................................... 22 Understanding School Finance in Colorado ..................................................................................................... 24 School Finance Act Funding ........................................................................................................................... 29 Economic Conditions and Outlook .................................................................................................................. 30 Enrollment FTE Projections ............................................................................................................................ 38 District-Wide Enrollment ................................................................................................................................ 38 District-Wide Student FTE .............................................................................................................................. 39 District-Wide Preschool Enrollment ................................................................................................................. 39 District Populations ....................................................................................................................................... 40 Personnel Trends .......................................................................................................................................... 40 Allocation of Budgets to Schools .................................................................................................................... 41 Demographic Overview ................................................................................................................................. 41 All Funds ...................................................................................................................................................... 42

Five Year Budgeted Appropriations by Fund Type ..................................................................................... 43

All Funds Overview ....................................................................................................................................... 44 General Operating Fund ................................................................................................................................ 48

Revenue Sources .................................................................................................................................... 48 Summary of Assumptions ........................................................................................................................ 49

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Table of Contents

Appropriation 2026-27............................................................................................................................. 42

Stretching Your BVSD Dollar .................................................................................................................... 52 Budget Adjustment Plan .......................................................................................................................... 53 Summary of Changes in FTE .................................................................................................................... 56

Capital Projects ............................................................................................................................................. 57

Building Fund.......................................................................................................................................... 57 Capital Reserve Fund .............................................................................................................................. 58 Impacts of Capital Projects on General Fund ............................................................................................. 59

Changes in Debt ........................................................................................................................................... 60 Fund Balance Requirements .......................................................................................................................... 61 Compliance Statements ................................................................................................................................. 62 Governing Policies ......................................................................................................................................... 62 Document Summary ..................................................................................................................................... 63 ORGANIZATIONAL SECTION ......................................................................................................................... 65 Profile of the Government ............................................................................................................................. 66 Budget Decisions Shaped by Goals and Financial Constraints ........................................................................... 66 Plan and Assess for Continuous Improvement................................................................................................. 67 Vision, Mission and Value Statements ............................................................................................................. 67 Strategic Plan ............................................................................................................................................... 68

New Strategic Objectives ......................................................................................................................... 69 Performance Measures ............................................................................................................................ 70 Budget Development Process......................................................................................................................... 71 Basis of Budgeting and Accounting ................................................................................................................ 74 Financial Information .................................................................................................................................... 75 Fund Balance Requirements .......................................................................................................................... 77 Governing Policies ......................................................................................................................................... 78 Type and Description of Funds ....................................................................................................................... 80 Definition of Account Code Structure .............................................................................................................. 83 Facilities, Land/Buildings, Communities and Geographic Information ................................................................ 85 OUR SCHOOL DISTRICT ................................................................................................................................ 89 District Organization ...................................................................................................................................... 90 OUR SCHOOLS ............................................................................................................................................. 91 School Leadership ......................................................................................................................................... 92 Our Schools .................................................................................................................................................. 94

Elementary Schools (K-5) ........................................................................................................................ 94 Combination Schools, K-8, Middle/Senior & K-12 ....................................................................................... 99 Middle Schools (6-8) ............................................................................................................................. 100 High Schools (9-12) .............................................................................................................................. 102

FINANCIAL SECTION................................................................................................................................... 105

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All Funds .................................................................................................................................................... 106

Summary .............................................................................................................................................. 106 Beginning Balance Summary .................................................................................................................. 108 Revenue Summary ................................................................................................................................ 109 Transfers In Summary ........................................................................................................................... 110 Expenditure Summary ........................................................................................................................... 111 Reserves Summary ............................................................................................................................... 112 Transfers Out Summary ........................................................................................................................ 113 Ending Fund Balance Summary .............................................................................................................. 114 Summary of Fund Balance Changes ....................................................................................................... 115 Budgeted Expenditures per Student ....................................................................................................... 116 Authorized FTE Summary ...................................................................................................................... 117

School Allocation Formulas .......................................................................................................................... 119 Special Program Allocations ......................................................................................................................... 124 Special Education Funding ........................................................................................................................... 127 Special Education Costs ............................................................................................................................... 128 Computation of Legal Debt Margin ............................................................................................................... 129 Changes in Debt ......................................................................................................................................... 130 Long-Term Debt ......................................................................................................................................... 130

Other Post Employment Benefit (OPEB) .................................................................................................. 130 General Obligation Bonds ...................................................................................................................... 131 Direct Borrowing ................................................................................................................................... 132 Lease Obligations .................................................................................................................................. 132

GENERAL FUND .......................................................................................................................................... 133 General Operating Fund .............................................................................................................................. 135

Beginning Balance Assumptions ................................................................................................................... 138 Major Sources of Revenue ........................................................................................................................... 139

Revenue Assumptions ........................................................................................................................... 139

Major Expenditures ..................................................................................................................................... 141

Charter Schools Assumptions ....................................................................................................................... 144 Addressing Negative Trends ........................................................................................................................ 145 One-Time Expenditures ............................................................................................................................... 147 Expenditure by Service (SRE) ...................................................................................................................... 148

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Table of Contents

Expenditure Assumptions ...................................................................................................................... 141

Reserve and Transfer Assumptions .............................................................................................................. 143

SRE Five-Year Comparison .......................................................................................................................... 149 Making Choices in the BVSD Budget ............................................................................................................. 150 Service (SRE) Budgets by Object ................................................................................................................. 152

SRE Summary ....................................................................................................................................... 152 SRE Detail ............................................................................................................................................ 153

Project Budgets by Object ........................................................................................................................... 156 Sub-Program Budgets by Object .................................................................................................................. 159

Authorized Positions .................................................................................................................................... 164 Location Budget by Object ........................................................................................................................... 165 PERA On-Behalf Fund .................................................................................................................................. 170 Differentiated School Support Fund .............................................................................................................. 171 Athletics Fund ............................................................................................................................................. 173 Preschool Fund ........................................................................................................................................... 175 Risk Management Fund ............................................................................................................................... 177 Community Schools Fund ............................................................................................................................ 179 Charter School Fund.................................................................................................................................... 182 SPECIAL REVENUE FUNDS ........................................................................................................................... 185 Governmental Designated-Purpose Grants Fund ........................................................................................... 186 Transportation Fund .................................................................................................................................... 189 Operations & Technology Fund .................................................................................................................... 191 Food Services Fund ..................................................................................................................................... 193 Student Activities Fund ................................................................................................................................ 195 Front Range BOCES Fund ............................................................................................................................ 197 DEBT SERVICE FUNDS ................................................................................................................................ 199 Bond Redemption Fund ............................................................................................................................... 200 CAPITAL PROJECTS FUNDS ......................................................................................................................... 203 Building Fund ............................................................................................................................................. 204

Project List ........................................................................................................................................... 207 Capital Reserve Fund .................................................................................................................................. 210

Project List ........................................................................................................................................... 212

INTERNAL SERVICE FUNDS ......................................................................................................................... 213 Health Insurance Fund ................................................................................................................................ 214 Dental Insurance Fund ................................................................................................................................ 216 FIDUCIARY FUNDS ..................................................................................................................................... 219 Private Purpose Trust Fund.......................................................................................................................... 220 INFORMATIONAL SECTION ......................................................................................................................... 221

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A Generation of Colorado School Finance ..................................................................................................... 222 Student Enrollment ..................................................................................................................................... 226 Enrollment and Student FTE by Level ........................................................................................................... 226 Enrollment History ...................................................................................................................................... 227 Enrollment Projections for 2026-2027........................................................................................................... 228 Authorized FTE History Summary – All Funds ................................................................................................ 231 Student Teacher Ratios ............................................................................................................................... 232 APPENDICES .............................................................................................................................................. 233 Appendix A: Budget Fact Sheet .................................................................................................................... 234 Appendix B: Mill Levies History .................................................................................................................... 236 Appendix C: Boulder Valley School District - Total Mill Levy ........................................................................... 237 Appendix D: Historical Assessed Valuation Information .................................................................................. 238 Appendix E: Schedule of Annual Property Tax Burden on Homeowners .......................................................... 239 Appendix F: Property Tax Levies and Collections ........................................................................................... 239 Appendix G: Demographic and Economic Statistics ....................................................................................... 240 Appendix H: History of School Finance Act.................................................................................................... 241 Appendix I: Principal Property Taxpayers...................................................................................................... 242 Appendix J: Principal Employers ................................................................................................................... 243 Appendix K: Computation of General Obligation Debt .................................................................................... 244 Appendix L: Debt Schedules ....................................................................................................................... 245 Appendix M: School District Comparisons ..................................................................................................... 246

Revenue ............................................................................................................................................... 246 Expenditures......................................................................................................................................... 247

Appendix N: Performance Measures ............................................................................................................. 248

K-3 Students Meeting Spring Literacy Benchmarks .................................................................................. 249 College Readiness ................................................................................................................................. 249 Graduation Rates .................................................................................................................................. 250 Dropout Rates ...................................................................................................................................... 251 Free or Reduced Lunch Population Rates ................................................................................................ 252

GLOSSARY ................................................................................................................................................. 253 Glossary of Terms ....................................................................................................................................... 254

Table of Contents

Acronym Reference ..................................................................................................................................... 262

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EXECUTIVE SUMMARY Superintendent’s Welcome .............................................................................................................................. 1 Acknowledgements and Awards ....................................................................................................................... 2 MAIN TABLE OF CONTENTS ............................................................................................................................ 5 EXECUTIVE SUMMARY .................................................................................................................................. 11 Board of Education Members ......................................................................................................................... 13 District Leadership ........................................................................................................................................ 14 Letter of Transmittal ..................................................................................................................................... 15 Our Purpose ................................................................................................................................................. 16

Strategic Plan ............................................................................................................................................... 17

New Strategic Objectives ......................................................................................................................... 18

Appropriation 2026-27............................................................................................................................. 42 Five Year Budgeted Appropriations by Fund Type ..................................................................................... 43

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Executive Summary

All Funds ...................................................................................................................................................... 42

Capital Projects ............................................................................................................................................. 57

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Board of Education Members District B Term expires: 2029

District C Term expires: 2027

Nicole Rajpal, President

Alex Medler, Vice President

District G Term expires: 2027

District D Term expires: 2027

Jason Unger, Treasurer

Jorge Chavez

Lalenia Quinlan Aweida

District E Term expires: 2029

District F Term expires: 2029

Deann Bucher

Ana Temu Otting

Executive Summary

District A Term expires: 2027

Nicole Rajpal, President 2026-27 Proposed Budget

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District Leadership

Superintendent Dr. Rob Anderson

Deputy Superintendent Dr. Lora De La Cruz

Chief Communications Officer Randy Barber

Assistant Superintendent of Opportunity & Access Dr. Nativity Miller

Chief Information Officer Frankie Elmore

Chief Financial Officer Bill Sutter, SFO

Asst. Superintendent of Operations Rob Price

Broomfield High School Principal Ginger Ramsey

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Asst. Superintendent of School Leadership Dr. Robbyn Fernandez

Legal Counsel Kathleen Sullivan

Asst. Superintendent of Human Resources Dr. James Hill

Boulder Valley Education Assn. President David Stewart

2026-27 Proposed Budget

Letter of Transmittal Date: To: From: Subject:

May 26, 2026 Dr. Rob Anderson, Superintendent Bill Sutter, Chief Financial Officer 2026-27 Proposed Budget

The ensuing document contains information and details regarding the 2026-27 Proposed Budget for fiscal year July 01, 2026 – June 30, 2027. The Board of Education is scheduled to approve this 2026-27 fiscal year budget on June 9, 2026. This financial plan supports a quality education for all students, while maintaining financial stability within available resources. The funding of public education in Colorado is a complex challenge. Amidst those challenges, the Boulder Valley School District aims to identify and fund active, interventionist approaches to student learning that provide excellent and equitable opportunities for all of its students, so that they may become successful Boulder Valley School District graduates. For the vast majority of our students, the district is meeting or exceeding student, teacher, and parent expectations. This point is proven by our consistent academic showing among the top three of Colorado’s large front range school districts—and often the top district—as measured by state and national academic rankings. For maximum learning and achievement to continue, budget considerations include the direct support provided in schools and classrooms as well as the operational support across the district. To do this, staff must keep current with state and federal regulations, develop curriculum and instruction to meet state standards, manage a multimillion-dollar budget, and maintain the wide range of support operations within the organization. With multiple sources of revenue, federal and state mandates, and diverse stakeholders, it is important to ensure that the district’s strategic plan guides resource allocations. The development of this budget takes into account these considerations relevant to the Boulder Valley School District and community at large. This fiscal year's budget is built upon a 2025 Denver-Aurora-Lakewood inflation factor of 2.3 percent. While the legislature has maintained the elimination of the Budget Stabilization Factor (Negative Factor), other legislative tactics were utilized to reduce funding from the School Finance Act including reducing funded pupil counts by decreasing the number of years of enrollment averaging from four years to three. Following years of constrained state funding, BVSD continues to address critical needs in the areas of increasing the proficiency level of all students, addressing the social-emotional needs of students, and maintaining district operations in 64 facilities on over 700 acres, distributed across 500 square miles.

This budget document details the academic investments and activities of the district and where the district is headed as an organization. It is always our goal to be accountable and responsive to the needs of our community within the projected resources available, and to operate the district with sound fiscal principles of integrity, responsibility, and a long-range financial vision. The district budget policies detailed in this book support this commitment. This extensive document was prepared by the staff of the district’s Business Services Division and, to the best of our knowledge and belief, the enclosed data are accurate in all material respects, and are reported in a manner to present fairly the financial position and planned operations of the Boulder Valley School District for the 2026-27 fiscal year.

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Executive Summary

Colorado’s slowing economy, spend-out of federal COVID funding, and policy decisions at the legislative and executive levels are fueling concerns for the future of public education funding in Colorado. Declining enrollment, when combined with rising costs due to high inflation levels, labor shortages, and the inability of the legislature to initiate meaningful revenue increases for K-12 public education, has created a conundrum for the future. This situation is largely due to Colorado’s constitutional thicket of conflicting requirements and constraints regarding the investment in public services for all of Colorado’s residents. The Boulder Valley School District is managing its operations in the near term, though priorities set by elected state officials for investing state resources continue to create budget challenges and dilemmas for the future regarding funding the services of public education. These factors necessitate prudent fiscal management to maintain the stability of the Boulder Valley School District. Meeting current educational needs must be balanced with an outlook toward the future.

Our Purpose It is well-known in the community and in Colorado that the Boulder Valley School District (BVSD) is already among the highest achieving of Colorado’s 178 school districts. What may not be as well-known is the shared determination of students, parents, teachers, administrators, and community leaders to make BVSD the educational answer for each student in the district regardless of circumstance or background. Each child brings a unique and worthwhile contribution to the learning community. Vision We develop our children’s greatest abilities and make possible the discovery and pursuit of their dreams, which when fulfilled will benefit us all. We provide a comprehensive and innovative approach to education and graduate successful, curious life-long learners who confidently confront the great challenges of their time. Mission The mission of the Boulder Valley School District is to create challenging, meaningful and engaging learning opportunities so that all children thrive and are prepared for successful, civically engaged lives. Value Statements 1. 2. 3. 4.

We respect the inherent value of each student and incorporate the strengths and diversity of students, families, staff and communities. Societal inequities and unique learning needs will not be barriers to student success. We address the intellectual growth, health and physical development, and social-emotional wellbeing of students. We value accountability and transparency at all levels

Top School District in Metro Denver According to Niche, BVSD is the #1 School District in Metro Denver and #2 in Colorado.

Accredited with Distinction For the second year in a row (2024 & 2025), BVSD is the only Metro Denver school district to be Accredited with Distinction—the Colorado Department of Education’s highest honor.

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Strategic Plan

The Boulder Valley School District’s All Together for All Students Strategic Plan is now in the seventh year of implementation and we remain committed to our three Long Term Student Outcomes, to Inspire a love of learning in every student, Equip them with the knowledge and skills that will help to make them successful, give them the opportunities and connections so that they can Soar after high school in the college or career pathway of their choice.

All students benefit from challenging and relevant educational opportunities.

Reduce disparities in achievement

Every student graduates empowered with the skills necessary for post-graduate success

Executive Summary

Much has changed since 2019 in the world of education and BVSD has celebrated the successful completion of many strategic goals. Following an independent review from a National expert in 2024, BVSD re-committed to the core tenets of our strategic plan with a narrowed focus on four key objectives critical to ensuring students in BVSD receive the highest quality education experience possible.

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Strategic Plan (continued) New Strategic Objectives

• • • •

No Limits: All students experience grade-level, standards-based instruction. Next Best Step: Educators and administrators implement & track tiered supports and instructional strategies to engage and grow all students, and monitor success in doing so. Define the Destination: Throughout their PK-12 career, all students access career exploration opportunities and earn at least one of the following: College Credit, Industry Certification, Work-Based Learning Experience or Seal of Biliteracy. Valued & Included: All students feel included and valued in their learning environments, schools engage in restorative practices with students when appropriate, and schools consistently apply recommended resolutions for specific disciplinary events (i.e., discipline framework).

Key Performance Indicators The vision set though the long-term outcomes and strategic objectives are realized through intentional planning and support. In BVSD our strategic goals are embedded within the Unified Improvement Plans (UIP) where we are able to monitor the progress being made each year, within each strategic objective. Additionally, BVSD has committed to transparently tracking and communicating the metrics aligned to the strategic plan, also known as “Key Performance Indicators” or “KPIs”. This is accomplished through our all new KPI Dashboard, allowing all staff, students and community members to join BVSD in monitoring the progress being made within all four Strategic Objectives though an easily accessible online data visualization tool. Defined Success by 2029 The Boulder Valley School District is unwavering in our common vision for success by 2029: • • • • • •

Increase achievement and growth scores overall, and for historically marginalized groups Appropriate growth of students receiving academic interventions Proportional rate of students identified for Special Education & Gifted and Talented Increase the percentage of students who graduate and obtain at least one GRAD+ recognition Increase fidelity to the BVSD Discipline framework Decrease Out of School Suspensions while reducing disproportionality

Graduation Rates The four-year graduation rate for the Class of 2025 increased to 93.3%, up from 92.3% last year, and outpacing the state average of 85.6% BVSD Graduation Rate Highlights The district saw increases in the following student groups: • Limited English Proficiency - Up 7.9% • Economically Disadvantaged – Up 2.8% • Hispanic or Latino – Up 8.5% • Homeless – Up 7.4%

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2026-27 Proposed Budget

Budget Development Process Colorado school districts, including BVSD, face ongoing budget challenges. For 2026–27, key priorities include employee compensation and increased resources for student needs such as special education, bilingual education, career and technical education, early childhood education, and curriculum. At the same time, districts must navigate constraints from state tax policies, legislative decisions, and the need to attract and retain high-quality staff through competitive pay. The budget was prepared considering the needs of students, parents, employees, and taxpayers while maintaining the fiscal responsibility it has to the taxpayers. Although overall student performance exceeds state averages, achievement gaps remain for some groups. The budgeting process focuses on addressing these gaps and aligning funding with the district’s strategic priorities to support all students. BVSD began the budget process with the development of a calendar as presented to the Board of Education on December 9, 2025.

• • • •

Release of the Governor’s Budget on November 1 which includes the proposed budget for K-12 public education for the ensuing fiscal year. Funding adjustments are made for state-wide K-12 enrollment, inflation, and as significant restructuring of how students are counted and funded within the School Finance Act. This becomes the starting point for efforts at the legislative level to increase funding for schools. Passing current fiscal year state supplemental budget adjustments to account for actual student counts and final certified mill levies for General Fund local funding. BVSD Open Enrollment and enrollment projections to begin setting detailed BVSD budgets. Convening and ending of the annual legislative session to advocate for additional funding, minimize unfunded mandates and influence legislation to improve public education. Clarifying the progress along the way with the Board of Education at the specified board meetings and worksessions identified for annual budget development.

The budget development process is outlined below: 1. Planning – Development of a course of action regarding the range of state funding changes. 2. Gathering Input – A dialogue regarding community values and priorities to consider in developing BVSD’s annual budget. 3. Results – Processing the input gathered to frame the creation of the budget. 4. Analysis – Reviewing the assumptions, projections, and priorities with the Board of Education. 5. Preliminary Budget – An unbalanced initial budget guided by the strategic plan, projections, and known data to provide decision points for discussion. 6. Proposed Budget – A budget version including expected resources, projected uses, and incorporation of necessary adjustments to create a balanced budget. 7. Budget Adoption – Statutory requirement to adopt a balanced budget by June 30 for the ensuing fiscal year. 8. Budget Revision – Adjustment of the annual budget to include final year-end financial data and student enrollment through the first two months of the school year and any relevant new financial information. 9. Amending the Budget – Transfers of funds between accounts during the fiscal year to adjust for changing conditions or needs. The following chart summarizes the process, timelines, and decision points of the budget development process for both the adopted and revised budgets.

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Executive Summary

•

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2026-27 Proposed Budget

Principal Issues Facing the District The annual budget development process aligns human and financial resources and spending with student needs to support achievement that reflect district values. District leaders use it as a plan to deliver quality education, aiming to realize the greatest possible impact upon student achievement. This alignment of resources takes into consideration the principal issues facing the district as outlined below. Resource allocations were made with an effort to maximize the impact on students. Declining Enrollment BVSD’s projected decline in enrollment into the near future poses significant challenges. Although the Colorado School Finance Act (SFA) softens the financial impact when districts experience declining enrollment, the legislature is changing the formula to cut the funding to schools. These demographic and political challenges create cumulative effects on the loss of funding, inefficient staffing, and underutilized facilities. As these overall student populations shift between grades, programs, and communities, a review of resource allocations between programs is necessary to determine adjustments to address the needs of those shifting student populations without additional resources. New School Finance Act During the 2025 legislative session, the new School Finance Act passed in 2024 was modified again marking the second major rewrite of the funding formula in two years. The changes extended implementation from six to seven years beginning in FY 2025-26 and reduced enrollment averaging from five years to two over three consecutive years to help address a $1.2B state budget shortfall. Despite the reductions to K-12 funding, concerns remain about sustainability of the plan, which relies on approximately $500M from the State Education Fund rather than a new funding stream. Future economic downturns or tax policy changes via legislative action or citizen-initiated ballot measures could disrupt the implementation and cause a reinstatement of the budget stabilization factor. Also, the new finance formula is much easier to modify compared to the existing formula. This increases the ability of the legislature to annually modify the formula to direct resources or require specific spending patterns. This uncertainty makes the long-term financial planning process very challenging for school districts. Increasing Student Proficiency BVSD has a large number of students who are not proficient on state assessments. Disaggregating assessment data allows resources and attention to be targeted on meeting the needs of students who require the greatest assistance. In the BVSD, a significant investment of local resources in early childhood education programs continues. These resources are targeted to help increase the proficiency level of all students in future years.

Unfunded State Mandates and Reforms In recent years, the Colorado legislature has implemented significant education reforms, including new state curriculum standards and assessments that rely on substantial school district investments in expanded technology, infrastructure, and equipment; and an annual principal and teacher evaluation system which requires ongoing investment in professional development and increased personnel to realize the intent of the legislation. Little or no targeted funding from the state has been added to specifically address these increased requirements and expectations. Colorado’s Enrollment in the Federal Education Freedom Tax Credit Program The program could be a springboard for a federal school voucher system that could ultimately further privatize public education. Eligible expenses include private/religious school tuition, academic tutoring, fees for AP exams, special education services/therapies, and educational technology. While guardrails are in place under the federal rules, the potential exists for funding unregulated programs and services that have no research-based backing and expectations of defined outcomes.

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Executive Summary

Economic Pressures - Federal Government Uncertainty Economic uncertainty created by the federal government’s actions around tariffs, education funding, cancellation of awarded grants, and immigration policy has increased pricing volatility and reduced policy consistency. This variability makes budget projections less reliable, reduces efficiency of spending, and increases costs.

Addressing Negative Trends The Board of Education created the Long-Range Advisory Committee (LRAC) to develop recommendations for the Board that ensure sound long-term facility decisions consistent with the needs of the district and in support of the district’s strategic plan. To inform those recommendations, the committee will review enrollment trends, program offerings, building capacity, and building utilization among other information. Factors affecting enrollment: o Declining birth rates (national, state, and local trend) and fewer kindergartners o Aging population o Dwindling housing opportunities due to low inventory, people aging in place o High cost of living o More housing opportunities in surrounding districts Declining enrollment process overview and actions taken to date by the district:

The Path Forward: Our Community Engagement Commitment What engagement will and will not do Engagement will: • Build understanding of the problem • Gather input on values, priorities, and tradeoffs • Inform development of school adjustment options and Board of Education decision making Engagement will not: • Guarantee preservation of specific schools • Delay action • Transfer decision-making authority away from the Board of Education

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Addressing Negative Enrollment Trends (continued)

Executive Summary

Our Community Engagement Commitment (continued)

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Understanding School Finance in Colorado Every homeowner and business owner in FY 2025-26 Colorado pay property taxes for schools, State of Colorado along with sales taxes for police, fire, and Appropriations by other local public services. The Colorado Program Type Other state government is responsible for 22.9% funding other public services such as Education prisons and transportation, in addition to (K-12) 27.9% determining the funding for schools. Each year, the budget crafted by the legislature Higher Education and approved by the governor 10.0% determines how much of the total state Health Care budget is allocated to education. The Corrections & Policy & portion earmarked for K-12 education is Judicial Financing 6.4% 32.8% then divided among 178 school districts Source: The Bell Policy Center throughout the state using formulas in the S Colorado School Finance Act. These formulas determine how much money each district will receive per pupil as well as how much of that funding is paid by the state and how much is paid through local taxes. Appropriations for FY 2026-27 was not available at the time of this publication. In 2000, Colorado voters passed Amendment 23 to ensure annual increases in K-12 per-pupil funding by at least the rate of inflation. However, during the Great Recession, the state created the Budget Stabilization Factor to address budget shortfalls, limiting Amendment 23’s application to “base” per-pupil funding. This led to significant reductions in total education funding, resulting in a nearly $10 billion state shortfall over 15 years, which impacted BVSD by $340.0M. The Budget Stabilization Factor was eliminated in the 2024-25 fiscal year, returning Colorado funding to 1989 levels. While this marks progress, Colorado remains among the lowest-ranked states in per-pupil funding, and full funding for K-12 education is still lacking. Two adequacy studies were published in December of 2024 and both identified over $4.0B in additional funding is required for Colorado to have an adequately funded public education system. The 2024 Colorado Adequacy Study and associated reports can be found on the Colorado School Finance Project’s website at www.cosfp.org. For the 2025-26 school year, a new finance act was implemented, the second in as many years, to redirect funding to school districts with higher concentrations of students living in poverty, students with individualized education plans, and students with limited English proficiency. The former factor for districts with a high cost of living has been significantly reduced and capped. The formula also reduces the student count averaging formula from five years to four years, with the seven-year rollout plan of the formula further reducing that to three years and possibly less. As the state budget becomes strained in future years, the new formula is meant to be easier to modify with further adjustments being anticipated.

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Understanding School Finance in Colorado (continued) Who Determines How Much Funding Each School District Receives? Equity in School Funding While tax dollars are collected locally for education, the state legislature determines how much funding each school district will receive. The SFA is aimed at ensuring that all children in the state receive an equitable educational experience and devised the previously mentioned formulas that evaluate various factors to determine the funding needed to provide said experience in each school district. For the 2026-27 school year, it is estimated BVSD will receive $11,890 for each student full-time equivalent (FTE). State Equalization

2026-27 Per Pupil Funding Summary without Override State Funding

Specific Ownership Tax

Boulder

$11,890

Denver

$12,581

Poudre

$10,655

Jefferson Co.

$11,622

Littleton

$11,627

Douglas Co.

$11,097

Cherry Creek

$12,179

St. Vrain

$11,773

Colorado Springs D-11

$10,896

Adams 12 Five Star Schools

$10,734

Aurora

$12,355 $0

Schools are funded from three sources: local property tax, state funds, and vehicle registration fees, known as Specific Ownership Tax (SOT). Although the state determines individual school district funding levels, the amount contributed from the three different sources varies according to local assessed property valuation. As evidenced in the charts shown on this page, because of higher assessed valuation, BVSD receives a larger portion of its revenue from local property taxes and therefore, the state contribution is less than peer districts. Conversely, those districts whose property assessed valuations are lower typically receive a greater portion of funding from the state.

Property Tax

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

2026-27 Per Pupil Funding Summary with Override State Funding

Property Tax

Specific Ownership Tax

Override

Boulder

$14,727

Denver

$14,134

Poudre

$11,801

Jefferson Co.

$13,224

Littleton

$13,755

Douglas Co.

$12,305

Cherry Creek

$13,760

St. Vrain

$12,842

Colorado Springs D-11

$13,861

Adams 12 Five Star Schools

$12,467

Aurora

$13,321 $0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

Colorado law allows local school districts to ask voters to approve override funding for their district through an additional mill levy. BVSD voters generously approved school overrides in November of 2016, 2010, 2005, 2002, 1998, and 1991. This additional funding is capped by state law at 25 percent of total program funding. All override revenues come from increased property taxes; no additional state funding occurs. A district’s authorization to raise and expend override revenues does not affect the amount of SFA funding the district receives.

2026-27 Proposed Budget

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Executive Summary

Local Referenda

Understanding School Finance in Colorado (continued) Mill Levies In 1994, the Colorado SFA was revised to create Title 11, Article 50 of the Colorado Revised Statutes, which determines the base revenue of the General Operating Fund for each school district. This 1994 revision set the standard mill levy at 40 mills for all districts. Then in 2007, due to dramatic increases in property values (assessed valuation) in some areas of Colorado (since 1994), the Act of 1994 was amended during the legislative session. This amendment froze the existing General Operating Fund mill levy for most districts in the state in order to reduce the pressure on state funding for local school districts. For BVSD, mill levies were certified in December for the 2026 collection year at 48.044 mills, which is a 0.27 percent decrease from the prior year. The mill levy is applied to assessed valuation which increased by 6.88 percent or approximately $660.0M, from the prior year, net of tax incremental financing (TIF) agreements. • • • • • •

General Operating Fund mills increased to 27.000. The district’s 1991, 1998, 2002, and 2010 budget override (referendum) elections result in a levy of 8.162 mills. The mill levy for abatements, refunds, and omitted property is 0.672 mills, bring the total General Operating Fund mill levy to 35.834 mills. The Bond Redemption Fund at 7.498 mills. The transportation mill levy at 0.712 mills. The operations and technology mill levy at 4.000, bringing the collective total mills for BVSD to 48.044 mills.

Historical information on the district’s assessed valuation is located in the Informational Section of this document. 51.070 50.00

47.944

4.000 0.921

4.000 0.937 9.150

48.024

48.175

48.044

4.000 0.765

4.000 0.761

4.000

7.711

7.498

0.712

40.00

7.290

30.00

9.490

9.805

8.402

8.602

8.162

26.023

27.000

20.00

10.00

0.00 2021 Total Mill Levy:

2022 Election

Bond Redemption

2023 Transportation

2024 Abatements

2025 Operations & Technology

Notes: - Total 2025 NET assessed valuation for the 2026 calendar year was certified at: $10,254,793,645 - Transportation mills are capital construction mill levies. - Bond Redemption Mills are capital construction mill levies. - Operations & Technology mills are capital construction, technology, and maintenance mill levies. - Abatement Mills are related to assessed valuation appeals. - Election Mills are mills for additional funding in the form of overrides approved by voters. Note increase for election mills in years following the 2010 referendum - General Fund Mills are associated with School Finance Act funding.

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2026-27 Proposed Budget

Understanding School Finance in Colorado (continued) How Does Supporting Education Impact Your Taxes? Local tax money goes to the county treasurer who in turn distributes it to each governmental entity in the county. Constitutional amendments that affect school funding: 1999- Article X, Section 20 (TABOR Amendment) Sets taxing and spending limits on all levels of government in the state, from special districts, such as fire protection and schools to county and state governments. This amendment’s primary objective is to “restrain the growth of government” as stated in the Colorado Constitution. The most significant limitations from this amendment that impact school funding from the state are that it: • requires voter approval of tax increases. • limits revenue collections. • limits spending. The law also impacts district spending as it requires that a school district hold 3 percent of expenditures in reserve. This reserve can only be spent in an emergency, which excludes economic conditions, revenue shortfalls, or salary and fringe benefit increases. A statute change in 2009-10 now allows a district to hold a letter of credit or utilize real asset value (buildings) as this 3 percent reserve, rather than cash. BVSD holds a 4 percent cash reserve, exceeding this requirement. 2000- Amendment 23 In November of 2000, Colorado taxpayers approved Amendment 23 to the Colorado Constitution. This amendment identifies increases in funding to public elementary and secondary schools at a rate of inflation plus 1 percent for a total of 10 years, through the 2010-11 fiscal year, and then at the rate of inflation thereafter. The amendment’s stated goal was to restore public education funding back to 1988 levels. 2005- Referendum C

Executive Summary

In November 2005, Colorado voters passed Referendum C, which temporarily overrides the current TABOR revenue formula that limits annual growth in state revenues to the rate of change of inflation plus population. With no increase to current tax rates, Referendum C allows the state to keep and spend the revenue it collects under current rates for five years. The revenue retained by this change will be used to fund healthcare, K-12 and higher education, pension plans for firefighters and police officers, and specifically identified Department of Transportation projects. The referendum’s stated goal was to restore state budget cuts since 2001 and reset the base funding level.

2026-27 Proposed Budget

| 27

Understanding School Finance in Colorado (continued) How Does Supporting Education Impact Your Taxes? (continued) Doing the Math: State law sets the property tax assessment rate. In the 2026 collection year, homeowners will pay an assessment rate of 7.05 percent of the actual assessed value of their home, while businesses will pay a 27.0 percent assessment rate. Here’s how the math works for each $100,000 in home value: • The 7.05 percent of assessed value is calculated to be $7,050. That’s the amount on which taxes are based. • One tax mill is equal to 1 cent on $10. So, $7,050 in value multiplied by 0.001 equals $7.05 per mill. • In 2025, the BVSD tax rate was certified at 48.044 mills or $338.71 in taxes per year for each $100,000 of assessed home value. You can use the same formula to calculate your property taxes for your schools if you know your home’s assessed value. The same calculations based on a 27 percent business rate net $1,297.19 in school taxes for each $100,000 of taxable business property.

Assessed (Taxable) Value of Home = $100,000 2021-22

Assessment Year

Mill Levy

2022-23 Taxes Paid Per $100,000

Mill Levy

2023-24 Taxes Paid Per $100,000

Mill Levy

2024-25 Taxes Paid Per $100,000

Mill Levy

Change from 2024-25 to 2025-26

2025-26 Taxes Paid Per $100,000

Mill Levy

Taxes Paid Per $100,000

Increase/ (Decrease)

General Fund School Finance Act Budget Elections Abatements & Refunds

26.023 $ 9.490 0.220

180.86 65.96 1.53

27.000 $ 9.805 0.178

187.65 68.14 1.24

27.000 $ 8.402 0.146

187.65 58.39 1.01

27.000 $ 8.602 $ 0.314 $

193.05 61.50 2.25

27.000 $ 8.162 $ 0.672 $

190.35 57.54 4.74

$ $ $

(2.70) (3.96) 2.49

Bond Redemption Fund Transportation Fund Operations & Technology Fund TOTAL

7.290 0.921 4.000 47.944 $

50.67 6.40 27.80 333.21

9.150 0.937 4.000 51.070 $

63.59 6.51 27.80 354.94

7.711 0.765 4.000 48.024 $

53.59 5.32 27.80 333.77

7.498 $ 0.761 $ 4.000 $ 48.175 $

53.61 5.44 28.60 344.45

7.498 $ 0.712 $ 4.000 $ 48.044 $

52.86 5.02 28.20 338.71

$ $ $ $

(0.75) (0.42) (0.40) (5.74)

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2026-27 Proposed Budget

School Finance Act Funding The funded pupil count, which is the number of full-time students enrolled in a district, is the real driver of school funding. The SFA identifies a per pupil funding amount, and the number of full-time students enrolled in a district determines the amount of total funding the district receives. However, not all students attend school on a full-time basis; the funded pupil count is different from the total enrollment. The official pupil count for kindergarten through twelfth grade occurs each October and results in the funded pupil count numbers. When projecting student enrollment, the budget implications are substantial if expected growth is not realized or enrollment declines are greater than anticipated. If a shortfall in actual enrollment occurs as compared to projections, this information is generally received after the close of the first quarter of the fiscal year, and many staffing and programmatic changes cannot be made without significant impacts to students. For this reason, the district generally undertakes a reasonable, yet conservative, projection methodology to reduce the risk of a funding shortfall compared to expected revenues. The BVSD projected state per pupil revenue (PPR) for 2026-27 is $11,890 (slightly rounded). This PPR is 2.9 percent more than what was budgeted in 2025-26 in the Revised Budget. Total program funding, defined by the SFA, is projected to be $315.5M, an increase of $2.7M, or 0.9 percent, from the BVSD 2025-26 Revised Budget. This figure does not include the estimated uncollectable property taxes due to the timing of tax collections. The table below shows what the impact would be to the district’s funding with fewer students.

The Funding Equation (26-27 budgeted) Per Pupil Revenue:

(PPR)

$11,890

Funded Pupil Count:

x(FPC)

26,538

School Finance Act Funding:

$315,540,387

Fewer Students = Fewer Dollars

Opportunity Cost in Dollars of 100 Fewer Students Per Pupil Revenue:

(PPR)

$11,890

Funded Pupil Count:

x(FPC)

(100)

School Finance Act Funding:

($1,189,000)

Executive Summary

*Calculations may not be exact due to rounding

2026-27 Proposed Budget

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Economic Conditions and Outlook Fiscal Outlook for 2026-27 Governor Polis’ November 1 proposed budget for 2026-27 included funding for Pre-K12 enrollment decline, inflation at 2.6%, and a continued rollout of the major restructuring of the school finance act adopted during the 2025 Colorado legislative session after nearly two years of negotiation and compromise. After the Governor’s budget was presented, the 2025-26 enrollment count was finalized which confirmed Colorado’s dramatic drop in enrollment of nearly 12,500, repeating the drop experienced in Colorado in the fall of 2020. The decline is projected to continue into 2026-27 by an additional 1%, or almost 8,200 students, based on the state demographer’s population projection for school-aged children. Updated projections will be included in budget planning when they become available. Historically, the Governor’s budget has been considered a “floor” for K-12 funding, with additional resources being allocated during the legislative session. However, the deep funding cuts made both in the 2025 legislative session and in the special legislative session in August did not prevent Colorado’s current budget shortfall of about $850 million to $1.2 billion, depending on estimates and forecasts. However, the reality is that public education remains the only major area of the state budget that has not been cut yet, and when funding pressures increase, that puts K-12 at greater risk. Analysts say there is around a 50% chance that our state experiences a recession. The concerns expressed for the sustainability of the new finance act and planned funding increases have proven true as the state lacks funding to continue the multi-year rollout as planned. Analysis of 2026 Economic Forecast Economic conditions in Colorado provide a leading indicator of potential fiscal impacts for school districts to manage over time. Fluctuations in state income tax collection, property value and population are not within the control of a local school district, so the budget development and fiscal management processes need to take into account projected changes that can positively or negatively impact district financial conditions. Annual and quarterly economic updates are key to informing the school board and community about those changing fiscal conditions. Colorado For over 61 years, the Colorado Business Economic Outlook has been compiled by industry leaders in the state, and presented by the Business Research Division of the Leeds School of Business at the University of Colorado Boulder. The information below was selected directly from the Colorado Economic Forecast for 2026, presented on December 8, 2025. Colorado has demonstrated one of the strongest economies over the medium-term horizon. Comparing growth from 2009-24, Colorado had the 5th-fastest real GDP growth, 6th-fastest population and labor force growth, 7th-fastest employment growth, and the 6th-highest home-price appreciation in the country. Over the short term, though, Colorado’s performance has slipped in the rankings, demonstrating the difficulty in maintaining growth-on-growth for a sustained period of time. In 2025, Colorado’s growth rates appeared more average in the rankings. Second quarter real GDP growth ranked 22nd, and home-price growth ranked Colorado 50th. The unemployment rate, labor force growth rate, and employment growth rate all rank the state in the 30s. The state remains in the top 10 for per capita personal income, average annual pay, and labor force participation rate (LFPR). While Colorado's relative ranking is lower over the past year compared to the 15-year ranking, some economic indicators recorded an acceleration in growth and/or an improvement in the rankings compared to last year. As well, for some of these metrics, slower growth is not slow growth. For instance, personal income grew 5% and per capita personal income grew 4.3%. More moderate

30 |

2026-27 Proposed Budget

Economic Conditions and Outlook (continued) Analysis of 2026 Economic Forecast (continued) growth may be the new reality for Colorado as population growth, especially through net migration, remains slow, creating headwinds for labor force and job growth. For more than half a century, the Colorado Business Economic Outlook has been compiled by industry leaders in the state and presented by the Business Research Division (BRD) of the Leeds School of Business at the University of Colorado Boulder. For 61 years, this book has served as a chronicle of the changing issues and opportunities facing people and industry in Colorado. Presenting historical data and forward-looking estimates on employment for each sector of the economy, the book also offers discussion on other relevant economic metrics, ranging from sales and cash receipts to building permits and airport enplanements. This section lays the foundation for each of the North American Industry Classification System (NAICS) supersectors by providing an overview of labor force and wage and salary employment totals. The industry narrative is a collaboration with 130 individuals across industries, government, and nonprofits. What they share are insights and expertise from their vantage point, while many of the economic and employment estimates are model-driven results. On September 9, 2025, the Bureau of Labor Statistics (BLS) published Current Employment Statistics Preliminary Benchmark (National) Summary. In this publication, the BLS indicated national employment estimates may be overstated by 911,000 and would be revised downward when benchmark revisions are applied in March 2026. Examining the data, the BRD concluded that Colorado is a state that is likely to undergo downward revisions. Since Colorado represents roughly 1.9% of national employment, a proportional share of the decrease would suggest Colorado may be revised down by 17,000. Examining the differences in growth between the Current Employment Statistics (CES) and the Quarterly Census of Employment and Wages (QCEW) by industry for Colorado, the expected downward revisions are less than 15,000. The implied revisions were applied to the monthly employment estimates and were used as a basis for the 2026 forecast. Employment Colorado employment stood just shy of 3 million in August 2025, with the state notching the 3rdconsecutive year of slowing growth. Annual jobs added in 2024 totaled 33,500, or growth of 1.1%. Growth in 2025 is estimated at 12,500 (0.4%), and the forecast for 2026 is for an additional 17,500 jobs (0.6%). In 2025, a minority of the 11 industries in the state are estimated to have posted job growth—with Education and Health Services, Government, and Leisure and Hospitality posting the most jobs added and the fastest job growth. Three industries that posted the largest job losses for the year are Professional and Business Services; Trade, Transportation, and Utilities; and Information. Looking ahead to 2026, eight industries are projected to add employment, led by Education and Health Services; Trade, Transportation, and Utilities; and Government.

Executive Summary

Preliminary year-over-year employment growth was mixed within the state, with growth in four metropolitan statistical areas (MSAs): Boulder, Colorado Springs, Denver-Aurora-Lakewood, and Grand Junction. Modest declines were recorded in the preliminary numbers in the Fort CollinsLoveland, Greeley, and Pueblo MSAs. The balance of the state (i.e., Colorado minus the MSAs) suggests Colorado’s rural areas posted strong growth. Most businesses in the economy are small businesses—96.5% of wage and salary establishments have fewer than 50 employees. These small businesses represent just under half (49.9%) of jobs in Colorado and 43.4% of total wages.

2026-27 Proposed Budget

| 31

Economic Conditions and Outlook (continued) Analysis of 2026 Economic Forecast (continued) Population The most recent population estimates available are for July 1, 2024. As of this date, the U.S. population reached 341.1 million, an increase of 3.3 million over the year, or a growth rate of 1%. Elevated levels of net international migration boosted growth, accounting for eight-tenths of the 1% growth. Three states declined in population relative to prior-year levels. Colorado’s resident population as of July 2024 was 5,956,729, ranking 21st in size in the United States. Colorado’s population increased by 56,309, or 1%, from July 2023 to July 2024, ranking it 19th in total change and 17th in percentage change. This growth is slightly higher than in 2023 and significantly slower than the 76,000 annual average during the previous decade. Births in Colorado were 62,400, flat compared to the previous year and lower than the peak of 70,800 in 2007. Births are the largest component of population change in Colorado. There were 45,000 deaths between July 2023 and July 2024, a slowdown from the pandemic peak of 49,700 in 2022 and in line with historical prepandemic trends consistent with a growing older adult population. Natural change (births minus deaths) was 17,400. Despite the lower levels of natural change, Colorado had the 7th-largest natural change in the country due to the state’s younger average age. There are 17 states in a phase of natural decline, with more deaths than births. More U.S. counties experienced population gains than losses in 2024, as growth accelerated across regions of the U.S. Approximately 66% (2,064) of U.S. counties gained population from 2023 to 2024. Areas that experienced high levels of domestic out-migration during the pandemic, such as in the Midwest and Northeast, have now experienced multiple years of population growth. In Colorado, population in 20 of the state’s 64 counties, or 31%, declined. Twenty counties experienced net outmigration, led by rural and mountain resort counties. Thirty-six of the 64 counties are in a phase of natural decline—meaning there were more deaths than births in 2024. Most of the counties in a phase of natural decline were in the nonmetro parts of the state and ranged from -462 to -3. However, the metro counties of Pueblo and Mesa led the list of counties in natural decline. The three counties with the largest natural increase were El Paso, Denver, and Arapahoe. Births continued to be lower than historical trends in 2024 but are holding steady. The slowing in births will continue to have long-run impacts on K-12 and higher education, as well as the labor force, with significant variation among counties. Most counties reached their peak births in 2007, but some counties, like Jefferson, reached their peak births in 2000. Population growth by age group continues to be a defining factor for Colorado due to two primary reasons. First, births have been declining since 2007 in both the United States and Colorado. The second significant impact is the growth in the 65+ population, which increased by almost 30,000 between 2023 and 2024. The growth in this group is primarily due to more people aging into the cohort rather than net migration. It is estimated that 65,600 Coloradans turned 65 in 2024. The growth in the 65+ age group is impacting the labor force, with a growing number of retirements even as workers are staying in the labor force longer. It is estimated that 40,000 workers will retire annually this decade. Additionally, the 65+ population is driving the economy with demand for health services and leisure and hospitality, and is impacting housing due to lower rates of mobility and smaller household sizes. Coloradans who are 65 and older are the fastest- and largest-growing cohort in the state, with those 75-85 years of age currently experiencing the strongest growth. The 65+ population reached 983,500 people in 2024, growing at an annual rate of 3.1% over the prior year, compared to the total population at 1%. The population under age 18 declined 5,900 in 2024 due to slowing births since 2007. The 45-64 age cohort grew only 4,600. The 25-44 age cohort increased by 19,700 from 2023

32 |

2026-27 Proposed Budget

Economic Conditions and Outlook (continued) Analysis of 2026 Economic Forecast (continued) to 2024. This cohort is primarily made up of millennials, with the leading-edge age 43, peak age 31, and tail end age 28 in 2024. Housing-unit growth did not keep up with household formation during the decade from 2010 to 2020, due to low levels of building and relatively strong population growth during and following the Great Recession, which created a tight housing market and escalating home prices. Since 2018, Colorado has built more housing units than new household growth, making a dent in the housing undersupply. In 2024, housing growth increased by 42,700, while population growth was 56,300. The projected slowdown in net migration will ease demand for additional housing in 2025 and 2026. The ratio of household population to housing units reached a low of 2.18 in 2024 after hitting a high of 2.31 in 2016. The declining ratio reflects multiple factors, including smaller household sizes due to an aging population and fewer births, as well as vacation and second homes. Household formation is forecast to grow by an estimated annual average of 26,500 over the next 10 years. The largest cohort of the millennials are in their 30s, the primary age for first-time home buyers. The leading edge of the millennials are in their early 40s, entering the highest earning and the prime second-home buying age cohort. The largest and fastest household growth will be in the 65+ population, but most of these households already have housing. The 65+ population has the lowest moving rate, and Colorado does not attract retirees (in-migrants balance the out-migrants in the 65+ cohort). The aging of the baby boomers into their 70s and 80s may create more turnover in larger, single-family homes as they look to downsize or need more assistance. However, several factors, including location, availability, cost, and health needs, will also factor in these decisions. Forecasts Colorado population growth is expected to slow to 0.6% annual growth in each of 2025 and 2026. Growth will be subdued by slower economic activity and jobs growth, dampening net domestic migration. Net international migration is expected to slow considerably on changes to immigration policy enforcement under the Trump administration and on slower economic activity. Total net migration is expected to total about 13,600 in 2025 and 15,700 in 2026—historically weak levels comparable to pandemic and dot-com recession lows. Births will remain the largest population growth driver. Births are projected to rise slightly in 2025 to 62,000 and in 2026 to 63,000. Deaths are projected to return to prepandemic trends in 2025, totaling 43,000. Beginning in 2026, deaths will begin to rise again with growth in the older adult population. Near-term population growth is projected to be strongest along the Front Range, with Weld, Douglas, and Adams counties experiencing the strongest growth in population levels.

2026-27 Proposed Budget

Executive Summary

Following a slowdown in 2025 and 2026, population growth is projected to rebound, assuming stronger economic activity. However, economic growth, immigration policies, and relative affordability of housing pose risks to the forecast. Over the long term, population growth will be constrained by lower fertility rates. That said, Colorado is expected to outpace national population growth, picking up a growing share of the U.S. population over time. Colorado is forecast to increase from 1.7% of the U.S. population in 2020 to 2.1% by 2060. Geographically, the largest population growth is forecast to be along the Front Range.

| 33

Economic Conditions and Outlook (continued) Analysis of 2026 Economic Forecast (continued)

Education Colorado public school districts educate nearly 880,000 students in prekindergarten through 12th grade. Funding for public schools comes from three main sources of revenue: local property tax, state funding, and federal dollars. The state share is primarily from income and sales tax revenues flowing through the state and then to districts. While federal education law is well established and sets strong requirements for public education, federal dollars are typically a relatively small overall component of the annual funding of public schools. Since March 2020, K-12 public education, like many sectors of the economy, has experienced dramatic changes in the delivery of services, labor force availability, and revenue fluctuations. Funding of education in Colorado compared to the national average has declined since 1992, despite such actions as Amendment 23 to the Colorado State Constitution in 2000 and the passage of cannabis sales taxes to support education. According to 2022-23 data from the National Center for Education Statistics, Colorado spent $1,668 less per student than the U.S. average, an increasing trend since the early to mid-90s when the gap was less than $500 per student. Many school districts have turned to increasing local property taxes to support education, but due to the wildly disparate property values within Colorado school districts, the ability to generate revenue is a function of property values, as well as local voters’ willingness to support public education with additional property tax dollars. These disparities are a result of residential development, nonresidential development, oil and gas resources, property valuations, and the number of students in a district.

2026 Outlook The outlook for 2026-27 is filled with uncertainty—financial, enrollment, policy, and programmatic. For government services like K-12 public education, stability is a key component to providing reliable, consistent, and effective programs and services. Public schools are cornerstones within a community, and research shows that instability within the public school system, including funding shortages, low achievement, and school closures, can lead to lower property values and population declines and can limit local business investments. Statewide funded enrollment in 2026-27 is projected to have a net decrease by 6,000 FTE students, or 0.7%, from 2025-26. This decrease continues a downward trend after the significant 3.3% enrollment drop recorded in October 2020. The student enrollment trend across the state has dropped from growth of 2% in 2008 to 0.1% and 0.2% in 2018 and 2019. This

34 |

2026-27 Proposed Budget

Economic Conditions and Outlook (continued) 2026 Outlook (continued) trend of declining enrollment is a result of declining birth rates and elevated housing costs, but it was also recently accelerated by federal immigration policies. This decline is projected to continue within Colorado in the coming years and is consistent with national trends, which indicate a 1% annual decline in the K-12 student population. Within Colorado, enrollment projections vary by specific school district and region, with varying degrees of growth and decline. The projected maximum decline is 10% and maximum growth is 9%. Among Colorado’s 10 largest school districts, this spread is from a decline of 2.6% to growth of 5.4%. While enrollment is projected to decrease, funding will be partially supported by the required inflationary increase in the School Finance Act and the continued rollout of the new School Finance Act passed in the 2025 legislative session. The new finance act supports districts with higher concentrations of disadvantaged students, as well as small, rural districts. Concerns continue to exist that an economic downturn could cause other legislative actions and changes to the finance act as a way to reduce the state’s funding obligation to PK-12 public education. Governor Polis’ 2026-27 budget proposal, released on October 31, 2025, contains a per pupil base funding inflationary increase of 2.6%, based on the Colorado September 2025 Economic Forecast. The proposal totals a funding increase of $275.8 million, or 2.7%, for K-12 education. This totals a statewide average change of $413, or 3.5%, more per pupil than 2025-26. The difference in the percentage changes in per pupil funding and total funding illustrates the impact of declining enrollment on funding. The sharper increase in per pupil funding can mask the reality that districts operate on total dollars, and declining enrollment means many are still facing tight budgets. The new School Finance Act and the required inflation adjustment to the base per pupil funding will soften but not eliminate the impact of rising costs and enrollment declines. The upcoming FY 2026 state revenue forecasts in December 2025 and March 2026 will indicate where the legislature is able to set the budget for K-12 education in 2026-27 and signal the ability of the state to continue providing the expected funding levels into the future. The uncertainty regarding funding will continue to be a challenge for school districts in the near term. The new finance act and the political pressure to implement the new formula will add to that unpredictability. Within the confines of the resources allocated by the legislature, districts across the state will be contending with labor shortages, wage pressures, and inflationary costs outstripping the funding increases. However, within these fiscal constraints, an environment of high expectations remains for educators to prepare students for the 21st-century economy. With an uncertain near-term future, districts will bolster reserves and fund the balance to the extent possible, as state funding for K-12 tends to lag an economic downturn. The National and Colorado summary forecast for 2026, found on page 19 of the document states:

• • •

National real GDP grew an estimated 1.9% in 2025. U.S. real GDP is projected to grow 2.1% in 2026, led by growth in consumption. Consumers continue to demonstrate resiliency despite indications otherwise in consumer confidence surveys. Real personal consumption grew an estimated 2.5% in 2025, and moderate growth is projected to continue in 2026, at 1.7%. Employment growth in Colorado is projected at 17,500 in 2026, with jobs added in eight of the 11 major industries. In 2026, Colorado is projected to add 35,100 people, according to the State Demography Office. Growth will come from net migration (15,700) and from the natural increase (19,500).

2026-27 Proposed Budget

Executive Summary

•

| 35

Economic Conditions and Outlook (continued) 2026 Outlook (continued) Boulder County As of 2025, Boulder County’s economy has experienced a blend of growth and challenges. Key sectors, such as life sciences, technology, and outdoor recreation, are driving economic activity, while remote work and office vacancies reduce much-needed foot traffic in areas of commerce. The presence of federal research institutions, the University of Colorado Boulder, and a strong startup culture continues to draw companies seeking to headquarter their burgeoning businesses near top-tier talent and resources. Boulder County’s economy is thriving with robust growth in key sectors. This dynamic blend of industries not only fuels current success but also sets the stage for sustained innovation and long-term prosperity, ensuring Boulder County remains a vibrant and forward-thinking economic hub. Boulder County is home to the following incorporated communities: Boulder, Erie, Lafayette, Longmont, Louisville, Lyons, Nederland, Superior, and Ward. The unemployment rate in Boulder County decreased 1 percentage point in August 2025 year-overyear, to 3.7%. August saw a significant decrease in the unemployment rate compared to the rest of the year, 0.8 percentage points lower than the 2025 average of 4.5%, tying the state rate for August (3.7%) but below the national rate of 4.5% (both not seasonally adjusted). Employment in the Boulder Metropolitan Statistical Area (MSA) increased 1.1% in August 2025 yearover-year. This marks the first month the area’s employment grew more than 1%. Census Bureau data show the 2023 median household income for Boulder County residents was $102,772, compared to $92,911 for Colorado residents and $80,610 for U.S. residents. The City of Boulder’s recent decline in the unemployment rate and increase in employment are positive. However, as a whole, Boulder has not seen a lot of growth in 2025. Employment has averaged 0% growth this year, and the unemployment rate has averaged 4.6%. Median household incomes are well above state and national averages, reinforcing Boulder’s position as a strong and desirable place to live and work. Venture capital activity has continued its upward trajectory following a strong 2024, where Boulderbased companies secured $1.7 billion in funding. In the third quarter of 2025 alone, firms in the Boulder area drew $251.4 million across 30 venture capital (VC) deals—a 24% increase compared to the same period last year. Statewide, investment has also surged, with the Denver Metro area achieving a decade-high total of $1.785 billion in VC funding. The Boulder County economy continues to benefit from a diverse mix of businesses, with high concentrations of employment in Professional and Technical Services (PTS) (17.8%), Health Care and Social Assistance (11.9%), Manufacturing (10.8%), and growing sectors including quantum computing. Collaborations between academia, government, and private-sector companies have led to increased emphasis on attracting small- to midsize quantum companies from across the nation and the globe.

36 |

2026-27 Proposed Budget

Economic Conditions and Outlook (continued) BVSD Assumptions and Estimates

Executive Summary

The development of the BVSD comprehensive budget is guided by the Strategic Plan, applying resources strategically, while supporting operational activities to ensure basic business functions, operations, compliance, risk-mitigation, health and safety as appropriate. Within these strategic areas, resources are applied as determined by a set of priorities, assumptions and estimates that change from year to year. For the 2026-27 fiscal year, the following data and preliminary estimates are being utilized during the initial planning phase of budget development. As always, the board’s adoption of a balanced budget will be guided by available funding, policy requirements and student needs. • Inflation - Denver-Aurora-Lakewood Core Consumer Price Index (CPI) o Governor’s 2026-27 budget proposal: 2.6% o December Legislative Council Staff projection: 2.5% o 2024 US Bureau of Labor Statistics final: 2.3% o Adjusted (May 2026) 2024 US Bureau of Labor Statistics: 2.4% • Employee compensation expectations and contract adjustments o Longevity and salary schedule movement o Employee salary cost of living adjustment (COLA) at CPI o Health/Dental Benefits - maximum rate increase 5% o Salary Schedule Market Adjustments as Appropriate • Student population o 2022-23 - 524 decline - 28,487 o 2023-24 - 125 decline o 2024-25 - 371 decline o 2025-26 - 450 decline o 2026-27 Projected - 491 decline / 1,961 5-year decline - 27,050 • Staffing adjustments o Declining enrollment changes - reset staffing ratios o 1X staffing reserve to address enrollment uncertainty • Potential Budget Stabilization Factor reintroduction (funding cut) o December State Revenue Forecast - State budget gap of $0.8B to $1.2B based on inflation, caseload growth, and current law spending promises. Other pressures include spending in previous sessions and stimulus funded programs now being supported by the State’s General Fund. • Proposed funding cut to non-equalized Specific Ownership Tax in 2027-28 with a potential impact to BVSD of $6.5M-$7.0M • Implementation of the School Finance Act passed in the 2025 legislative session with expectations of reduced funding in 2027-28 and beyond • Contractual and operational price escalations • Continued implementation of strategic initiatives • Reserves for continued fiscal stability

2026-27 Proposed Budget

| 37

Enrollment FTE Projections The 2026-27 enrollment FTE projections reflect a decrease of total student enrollment. The following four charts show the historical change in BVSD enrollment. Note beginning in 2023-24, preschool student FTE is no longer reflected in the total district FTE. Beginning that year per the State, the process of counting preschool enrollment fundamentally changed from an October Count similar to K-12 grades, to a monthly enrollment count. 32,000

31,000 30,000

Total Student FTE 30,280 29,820

29,762

Total District 28,689

29,000

27,763

28,000 27,000

27,565

27,468

27,607

27,184

27,929

27,063 26,581

26,363

26,111

26,000 25,000

24,811

25,439

25,250 24,685

24,000

24,222 23,734 General Only (excluding Charters)

23,000 22,000 17-18

18-19

19-20

20-21

21-22

22-23

23-24

24-25

25-26

(Submitted)

26-27

Note: General only includes Pre-K grade up until 2023-24 year and beginning that year reflects only K-12 student FTE.

District-Wide Enrollment The total number of BVSD students (PK-12) estimated for the fall of 2026 shows a decrease of 488 enrolled students compared to the October 1, 2025, enrollment. Preschool enrollment is estimated for October 1 to be consistent for reporting, however, for the FTE comparison, we do not include the PK level. For Total K-12 Funded Student Full Time Equivalent (FTE), there is a decrease of 470.6 FTE. However, for the 2026-27 year, BVSD will again average the pupil count as allowed per the State, which will result in an additional 427.8 FTE of funding for K-12. Kindergarten through twelfth grade students who are part-time, based upon a student’s attendance and academic schedule, are counted as 0.50 FTE. COMPARISONS 2025-26 Revised 2025-26 Submitted to to 2026-27 Proposed 2026-27 Proposed

2025-26 Revised

2025-26 2026-27 Submitted Proposed

Total PK-12 Funded Enrollment (Heads)*

27,461.0

26,973.0

-488.0 / -1.78%

Total K-12 Funded Student Full Time Equivalent (FTE)

26,581.1

26,581.1 26,110.5

-470.6 / -1.77%

-539.1 / -1.99%

Add'l FTE due to averaging

496.3

Total Funded Pupil Count (FTE)**

27,077.4

496.3

427.8

27,077.4 26,538.3

* Total Enrollment (Heads) includes all PK students estimated to be enrolled on October 1st. ** If the Total Funded Pupil Count FTE exceeds the Total Funded Student Full Time Equivalent, the funded pupil count is averaged.

38 |

2026-27 Proposed Budget

District-Wide Student FTE Examination of enrollment reveals that K-12 General Operating Fund in-person student FTE will decrease by 477.6 FTE, while online FTE will decrease by 11.0 FTE; the K-12 Charter School FTE increased by 18.0 FTE. Note the change to Total Funded Pupil Count includes the state benefit of averaging pupil enrollment for funding purposes. COMPARISONS 2025-26 Revised 2025-26 Submitted to to 2026-27 Proposed 2026-27 Proposed

2025-26 Revised

2025-26 2026-27 Submitted Proposed

K-12 General FTE

24,001.1

23,523.5

-477.6 / -1.99%

K-12 Charter FTE*

2,359.0

2,377.0

18.0 / 0.76%

Online FTE Total Student Full Time Equivalent

221.0

210.0

-11.0 / -4.98%

-470.6 / -1.77%

-539.1 / -1.99%

26,581.1

Add'l FTE due to Averaging

496.3

Total Funded Pupil Count

27,077.4

26,581.1 26,110.5 496.3

427.8

27,077.4 26,538.3

*Funded enrollments may vary slightly from actual enrollments if a charter school enrolls students above the contracted amount.

District-Wide Preschool Enrollment The chart below summarizes the total number of BVSD preschool students enrolled. Beginning in 2023-24, Universal Preschool Program began for Colorado families, providing free preschool access. The preschool districtwide enrollment table below fshows flat enrollment of preschool students projected on October 1st as compared to 2025-26. Beginning 2023-24, funding for preschool students changed from an October count to monthly enrollment and payment count and the Preschool program is estimating increasing the monthly enrollments throughout the year. The chart below represents the prior format of counting students as of October 1.

2025-26 Revised

2025-26 2026-27 Submitted Proposed

COMPARISONS 2025-26 Revised 2025-26 Submitted to to 2026-27 Proposed 2026-27 Proposed

293.0

0.0 / 0.00%

Colorado Universal Preschool (UPK)

355.0

0.0 / 0.00%

Not-eligible for funding

0.0

0.0 / N/A

Tuition Total PK Enrollment

181.0 829.0

0.0 / 0.00% 0.0 / 0.00%

Executive Summary

Special Education

2026-27 Proposed Budget

| 39

District Populations The district’s student population as of fall 2025 is a diverse group made up of special education students, English language learners, gifted and talented students, and students eligible for free and reduced lunch. Student Enrollment Category

2021-22

2022-23

2023-24*

2024-25

2025-26

CDE Preschool-12 Student Membership

29,011

28,487

28,362

27,991

27,541

28,776

28,250

28,203

27,913

27,461

235

237

159

2,034

2,001

2,140

2,301

2,295

7.1%

7.8%

8.5%

8.6%

5,828

5,939

6,811

7,286

7,057

20.3%

21.0%

25.0%

26.9%

26.5%

4,182

4,322

4,542

4,860

5,050

14.5%

15.3%

16.6%

17.9%

19.0%

2,316

2,362

2,526

2,583

2,672

8.0%

8.4%

9.3%

9.5%

10.0%

3,417

3,613

3,507

3,687

3,654

11.9%

12.8%

12.9%

13.6%

13.7%

Funded Membership Student Membership Not Funded English Language Learners ELL % of Funded Membership Free/Reduced Lunch Status FRL Statuts % of Funded Membership Gifted & Talented TAG % of Funded Membership Out of District OOD Students % of Funded Membership Special Education SpEd Students % of Funded Membership

* With the implementation of the Universal Preschool Program in 2023-24, all pre-kindergarten students were moved to an “unfunded” status as they were no longer reported in the district’s School Finance Act funded pupil count.

Personnel Trends The estimated number of 2026-27 budgeted full-time employees in BVSD in all funds, including Charters, is 3,774.638. This is a decrease of approximately 2.18 percent from the 2025-26 fiscal year. Staff FTE is allocated based on projected student enrollment, which continues to decline. 2022-23 Classroom Teachers Other Teachers* Psych/Social Workers/OT/PT/Nurses Admin/Principals Professional Support Technical Support Paraeducators/Liaisons/Monitors Office/Administrative Support Trades and Services TOTAL FTE:

1684.032 232.155 137.820 173.949 173.283 57.077 644.525 235.698 564.652 3,903.191

2023-24

2024-25

2025-26

2026-27

1692.364 278.762 140.177 177.516 183.835 46.495 701.928 246.333 559.853 4,027.238

1658.967 269.233 154.594 174.712 180.333 51.107 658.483 242.297 517.793 3,907.519

1622.664 262.542 158.892 181.240 177.453 50.001 668.819 228.554 508.605 3,858.770

1628.448 244.848 139.142 176.479 166.953 49.000 638.699 230.715 500.354 3,774.638

* Other Teachers- Teachers on Special Assignment, Teacher Librarians & Counselors

40 |

2026-27 Proposed Budget

Allocation of Budgets to Schools Each BVSD school is allocated resources on the basis of projected enrollment. Various formulas are used which address the allocation of: • •

Staff FTE – teachers, paraprofessionals, principals, office personnel, custodians, and other staff Operating Dollars – for supplies, copier costs, equipment, staff development, and leadership, (textbook funds are budgeted centrally and distributed to schools based on a textbook adoption calendar)

The goal of instructional staffing allocations is to ensure that resources are distributed equitably among the district’s schools. They are based on district-wide per student ratios that are set specifically for each grade level. As overall enrollment fluctuates or as the student population shifts between levels, the staffing is then adjusted to maintain each of the ratios. Variances above and below may occur when student populations shift between schools and across grades. If budget constraints prevent the funding of expected ratios in the current year, the funding of staffing ratios will generally be a budget priority in the following fiscal year. Allocations of Budgets to Schools addresses the C.R.S. 22-55-108 Accountability statement. Operating dollars are structured as a weighted student formula to address student characteristics including poverty, special education, and English language development.

Demographic Overview The Boulder Valley School District is located near the foothills of the Rocky Mountains, approximately twenty miles northwest of Denver. BVSD’s boundaries encompass approximately 500 square miles in Boulder, Broomfield, and Gilpin Counties and contain a population of approximately 250,000. The communities of Boulder, Louisville, Lafayette, Erie, Superior, Broomfield, Nederland, Ward, Jamestown, and Gold Hill are served. Each school provides information about specific programs, services, and activities offered on their individual school websites. A list of schools with links to their websites can be found on the district website. Facilities

2026-27 Proposed Budget

Athletic Fields 13 Artificial Turf Fields Programs and Administration Buildings 1 Career & Technical Education Center 1 Education Center 1 Culinary Center 3 Bus Terminals (Lafayette, Boulder, Nederland) 1 Middle/Senior Special Education School 1 Multi-Use Building (Sombrero Marsh) 8 Total

| 41

Executive Summary

Schools 29 Elementary Schools 1 Early Childhood Center 4 K-8 Schools 8 Middle Schools 1 Middle/Senior High School 7 Senior High Schools 5 Charter Schools 1 Online School (Boulder Universal) 56 Total Schools

All Funds Appropriation 2026-27 The adoption of the budget by the Board of Education includes the formal approval of both the Budget Resolution and the Appropriation Resolution, as defined in Colorado State Statute 22-44-103(1). The resolutions set the maximum amount of funds which can be utilized in a given fiscal year. All available resources are appropriated through this process and each accounting fund is included in each of the resolutions. A board of education of a school district shall not expend any moneys in excess of the amount appropriated by resolution for a particular fund, C.R.S. 22-44-115(1). General Fund Operating Funds General Operating Fund

Expenditures $

386,231,155

Reserves $

Transfers Out

44,189,497

70,755,401

2026-27 Appropriation

Ending Balance $

5,437,892

506,613,945

Charter Schools

40,707,249

PERA On-Behalf

6,000,000

Differentiated School Support Fund

5,315,315

159,459

Athletics Fund

4,475,044

134,209

4,609,253

Preschool Fund

15,799,758

448,772

16,248,530

Risk Management Fund

7,506,432

2,109,378

Community Schools Fund

8,180,586

245,418

850,475

4,462,050

$ 474,215,539

$ 48,514,455

$ 71,605,876

$ 33,411,432

627,747,302

17,207,634

Operating Funds Sub-Total

1,227,722

11,925,576

53,860,547

6,000,000

11,585,914

17,060,688

9,615,810 13,738,529

Special Revenue Funds Food Services Fund

16,784,170

Governmental Grants Fund

20,000,000

Transportation Fund

20,149,500

Operations & Technology Fund Student Activities Fund Special Revenue Funds Sub-Total

423,464

20,000,000

1,410,465

21,559,965

41,434,319

1,481,125

20,409,351

13,430,000

378,000

7,091,665

$ 111,797,989

Bond Redemption Fund

83,506,434

Debt Service Fund Sub-Total

$ 83,506,434

3,693,054

63,324,795 20,899,665

$ 27,501,016

142,992,059

Debt Service Fund -

$ $

68,071,218

151,577,652

$ 68,071,218

151,577,652

131,038,801

$ 65,723,687

144,943,358

52,814,195

58,442,287

1,125,538

1,225,538

1,125,538

1,225,538

Capital Project Funds Building Fund Capital Reserve Fund Capital Project Funds Sub-Total

65,315,114 8,149,862

5,754,695

65,723,687

$ 73,464,976

5,754,695

3,162,644

$ 52,696,176

5,746,111

Private Purpose Trust Fund

100,000

Fiduciary Funds Sub-Total

100,000

13,904,557

Internal Service Funds Health Insurance Fund Dental Insurance Fund Internal Service Funds Sub-Total

49,651,551 3,044,625

2,583,467

5,628,092

Fiduciary Funds

GRAND TOTAL:

42 |

$ 795,781,114

$ 63,708,315

$ $

$ 71,605,876

$ 195,832,891

$ 1,126,928,196

2026-27 Proposed Budget

All Funds (continued) Five Year Budgeted Appropriations by Fund Type Fund Type

2022-23

Operating Funds Special Revenue Funds Debt Service Fund Capital Project Funds Internal Service Funds Fiduciary Funds Total

547,447,468 132,618,494 121,968,707 253,360,351 49,414,716 1,962,811 1,106,772,547

2023-24 $

599,017,698 144,179,524 139,317,076 234,107,392 49,677,686 1,902,322 1,168,201,698

2024-25 $

623,631,543 133,176,662 141,207,078 194,957,713 52,668,830 1,326,260 1,146,968,086

2025-26 $

2026-27

649,209,091 137,930,207 142,804,508 264,783,686 52,215,991 1,280,538 1,248,224,021

627,747,302 142,992,059 151,577,652 144,943,358 58,442,287 1,225,538 1,126,928,196

Appropriations $1,400,000,000

$1,200,000,000

$1,000,000,000

$800,000,000

$600,000,000

$400,000,000

$200,000,000

$2022-23

2023-24 Special Revenue Funds

Debt Service Fund

2024-25 Capital Project Funds

2025-26 Internal Service Funds

2026-27 Fiduciary Funds

Executive Summary

Operating Funds

2026-27 Proposed Budget

| 43

All Funds Overview General Operating Fund The General Operating Fund is the core operating fund of the district and accounts for the majority of all instructional and operational expenditures of the district. Included in this fund are categorical programs (e.g., special education, gifted and talented education, career and technical education, and E.L.P.A. (English Language Proficiency Act). A major source of funding to the General Operating Fund is received through the state’s School Finance Act. This Fund is developed so that the total of annual ongoing expenditures and transfers does not exceed annual revenues and contains an ending fund balance that complies with state statute and district policy. Differentiated School Support Fund The Differentiated School Support Fund was created in FY22 and is used to track spending of resources allocated to schools as part of the district's Strategic Plan. Beginning fiscal 2024-25, with the conclusion of ESSER funding high support schools are now accounted for similar to all schools in this fund. Through a tiered system of school requirements, supports, and accountability metrics which drive the allocation of resources, the goal is to help close the opportunity and achievement gap in the District. A weighted and differentiated funding model was implemented to distribute resources to schools identified with levels of Flexible, Targeted, and High support needs. The table below outlines the revised differentiated levels and per pupil tiered approach to funding for the second iteration of funds: Flexible support receive weight on student demographics only and have access to VIP Program/ Targeted support (x2) / High support (x5) o Target and High Support Enrollment- $60 o Special Education - $50 o Free and Reduced Lunch - $75 o English Language Development - $50 PERA On-Behalf Fund As a component of Senate Bill 18-200, the state is required to make a direct on-behalf payment of $225.0M to Colorado PERA each year. The payment is allocated based on the proportionate amount of annual payroll to the School Division Trust Fund, State Division Trust Fund, Judicial Division Trust Fund, and Denver Public Schools Division Trust Fund. Generally accepted accounting principles require the district to report its proportionate share of on-behalf payments as both a revenue and expenditure. Because on-behalf payments have no financial impact on district operations, the revenues and expenditures have been recorded in a new stand-alone fund, so as to not distort ongoing district activities. Because the necessary calculations are not provided to the district by Colorado PERA until after year end, budgeted amounts represent a conservative estimate based on prior year data. Athletics Fund The district-wide Athletics Fund provides for interscholastic athletics in grades 8 through 12 and intramural athletics at all grade levels. Athletic programs at charter schools are funded from each charter school's individual allocation.

44 |

2026-27 Proposed Budget

All Funds Overview (continued) Preschool Fund The Preschool Fund includes sessions of preschool in 23 elementary schools and the Mapleton Early Childhood Center. The program has a nine-month schedule, and a five day a week, half-day program, with an extended halfday option available. The Universal Preschool Program began during school year 2023-2024. This program will be funded by the Colorado Universal Preschool Program (CUPP), funded by voter approved tax increases. Community Schools Fund The Community Schools Fund provides the community with educational and enrichment opportunities through extended use of BVSD facilities. The Community Schools Program is self-supporting, utilizing program tuition and community use fees for operational expenses. The fund provides the following programs: 1) School Age Care Program 2) Community Use 3) Lifelong Learning 4) Community Connections: A Student Resource Guide 5) BVSD Online Charter School Fund The Charter School Fund consists of five charter schools: Boulder Preparatory, Horizons K-8, Peak to Peak K-12, Summit Middle, and Justice High. The schools have separate governing boards but are dependent upon the district for the majority of their funding. Governmental Designated-Purpose Grants Fund The Governmental Designated-Purpose Grants Fund is the vehicle for receipt and expenditure of categorical funds. The district receives numerous local, state, and federal grants which have varying fiscal years. These grant funds supplement the regular district educational programs. Transportation Fund The Transportation Fund's purpose is to account for the revenue and expenses associated with providing transportation for students for regular school attendance and for extra curricular activities such as field trips, athletics, and music events.

The Capital Construction, Technology, and Maintenance Fund has been established to account for activity which was authorized with funds made available from the passage of the 2016 Ballot Measure. Voters approved an operational mill levy which will fund a portion of the ongoing maintenance, custodial, security, and technology expenditures in the General Fund. Resources from the levy will allow investment for ongoing preventative maintenance and repairs to extend facility life. The Board of Education set the levy to 4 mills in December 2019 which is the maximum amount allowed by voter approval.

2026-27 Proposed Budget

| 45

Executive Summary

Operations and Technology Fund

All Funds Overview (continued) Food Services Fund The Food Services Program serves breakfast and lunch meals using the new culinary center to serve 52 schools, Head Start Programs and one charter school outside of the school district. Additionally, the district provides suppers, claimed by the Child and Adult Care Food Program, at two high risk schools - Columbine and University Hill. Beginning in November 2025, the district began serving late snacks at seven more high risk schools: Sanchez, Columbine, Birch, Pioneer, University, Emerald and Whittier. This Fund is primarily dependent on Food Service revenue from 170 serving days. Risk Management Fund The Risk Management Fund accounts for the costs of the district's property and liability insurance, workers' compensation insurance, loss prevention services and coordinates the overall risk management activities for the district. Fluctuations in property and workers' compensation insurance premiums may cause corresponding changes in transfers from the General Fund. Bond Redemption Fund The Bond Redemption Fund is used to account for the accumulation of resources for, and the payment of, general long-term debt principal, interest, and related costs. The size of the mill levy for the Bond Redemption Fund is determined by the amount of the yearly requirement for the payment of principal and interest on the outstanding bonds. Building Fund The Building Fund accounts for the district's 2022 Critical Needs Plan, which is funded by general obligation debt approved by voters in November 2022. The 2022 Critical Needs Plan, as approved by the Board of Education on August 9, 2022, represents $350M of the District’s highest priorities: extend the useful life of buildings, replace New Vista High School, update secondary schools to provide opportunities for career and technical education programs, and construct an elementary school in Erie. Health Insurance Fund The Health Insurance Fund is an internal service fund used to account for claims, administrative fees, and stop loss insurance coverage for the district’s self-funded health insurance employee benefit program. Employees have the choice of participating in the district’s self-funded plans administered by United Medical Resources (UMR) and Surest. These companies are affiliates of United Health Care. The district contributes an annual premium per eligible employee. Employees have the option to purchase dependent coverage. In addition, the district contributes towards an Employee Assistance Program for all employees. Dental Insurance Fund The Dental Insurance Fund is an internal service fund used to account for claims and administrative fees of the district’s self-funded dental insurance employee benefit program. The district contributes an annual premium per eligible employee. Employees have the option to purchase dependent coverage.

46 |

2026-27 Proposed Budget

All Funds Overview (continued) Capital Reserve Fund The Capital Reserve Fund may be used for land acquisition and land improvements; and for the construction of new facilities, or for the remodel and maintenance of existing facilities, including the acquisition of equipment and furnishings. Vehicles, fiber optic cable acquisitions and repairs, software licensing agreements, and computer equipment may also be acquired through the Capital Reserve Fund. Private Purpose Trust Fund Trust Funds are used to account for assets held by the district in a trustee capacity or as an agent for individuals, private organizations, and special activity groups within the district. This Fund accounts for the activity of an exchange program and various scholarship funds. Student Activities Fund This fund is provided to account for receipts and disbursements from student activities and district fundraising. Front Range BOCES Fund

Executive Summary

The Front Range BOCES Fund is a custodial fund to account for activities of the Front Range BOCES. The district had an intergovernmental agreement under which the district processed contributions and non-personnel expenditures of the Front Range BOCES. BVSD and Front Range BOCES ended its agreement in June 2024.

2026-27 Proposed Budget

| 47

General Operating Fund Revenue Sources There are a variety of factors that impact the amount of money the district receives in its General Operating Fund from its different funding sources. The district and/or its constituents have more control over some factors than others. • The Board of Education can make policy decisions on what the district charges for its tuition and fees. This controllable revenue source comprises only 0.2 percent of total General Operating Fund revenue. • The BVSD electorate has control over passing local property tax increases for school funding which represents 19.9 percent of the district’s 2026-27 budgeted revenue. The board can only recommend placing a referendum on the ballot. • The Colorado legislature determines BVSD’s revenue from the SFA. BVSD voters have some control over who their state representatives are and how they vote on education issues. This less controllable revenue, combined with categorical reimbursements, totals 75.0 percent of BVSD’s 2026-27 budgeted revenue. The board has no control over the SFA. • Non-equalized specific ownership tax, other revenues, services provided, and lease proceeds make up the remaining 4.9 percent of BVSD’s budgeted revenue, and are controlled primarily by economic factors completely outside of the district’s control. More Controllable Revenue

1991, 1998, 2002, 2010 voterapproved mill levy overrides

Policy Decisions Tuition & Student Fees:

910,943

0.2%

87,432,208

19.9%

State Share Funding:

26,651,111

6.1%

Local Property Taxes:

271,328,718

61.6%

Specific Ownership Taxes:

14,811,301

3.4%

16,968,551

3.9%

Specific Ownership Taxes:

6,776,618

1.5%

Other Revenue:

6,937,448

1.6%

Services Provided to Charters:

8,118,033

1.8%

180,000

0.0%

440,114,931

100.0%

Local Elections (Referenda) Local Property Tax:

Tuition and student fees (foreign exchange students) and technology fees

School Finance Act CTE, Special Ed, READ Act, ELPA, Gifted & Talented

Other State Revenue Categorical Reimbursements: Non-equalized SOT, Medicaid, Indirect Cost Reimb, Charters, Interest Earnings

Amounts received from the state and equalized SOT vary according to local assessed property valuation.

Other Revenue

Lease Proceeds - Copiers Total:

Less Controllable Revenue *includes abatements and delinquent local property taxes

48 |

2026-27 Proposed Budget

General Operating Fund (continued) Summary of Assumptions Expenditures by Category as % of the General Operating Fund Budget $386,231,155

Categorical Funding 3.4%

School Finance Act 61.9%

Purchased Services 4.0%

Referenda 17.3%

Supplies 6.8%

Other 4.5% Beginning Balance 13.0%

Reserves by Category as % of the General Operating Fund Budget $44,189,497

Contingency 59.2%

Warehouse Inventory 1.0% Climate Reserve 1.1% Mutli-year Contract 1.1%

TABOR 26.2%

Multi-year Project IT Reserve 10.8% 0.6%

Equipment and Other Uses -7.7%

Personnel 96.9%

Transfers by Category as % of the General Operating Fund Budget $69,904,926

Charter 53.2%

Capital Reserve 4.0%

Community Schools 1.2% Food Services 3.6% Preschool Fund 11.6%

Risk Mgmt 11.2% Athletics 4.1%

Transportation 13.5%

2026-27 Total Resources: $505.8M o $19.2M decrease in resources from the 2025-26 Revised Budget is comprised of: o Removal of any one-time 2025-26 revenues including miscellaneous donations, Property Tax – Credits and Abatements, Interest, E-Rate Reimbursement, READ carryover and a settlement payment. o A decrease in the beginning balance. o An increase in School Finance Act revenue that is the result of a per-pupil revenue increase based on COLA in the base. o An increase in Mill Levy Property Tax revenue that is indexed at 25.0 percent of School Finance Act funding as this is calculated on Total Program. o Flat budget in Property Tax – Delinquent, Lease proceeds, Specific Ownership Taxes – Nonequalized, Medicaid, Gifted and Talented reimbursement and CDE audit adjustments. o A slight increase in Indirect cost revenue which is charged to Food Service, Grant and Preschool Fund. o A slight increase ongoing to Miscellaneous to account for EV Charging revenue. o A slight increase to categorical funding in Special Education, Career and Technical and ELPA reimbursement. o An increase budgeted to be received by Charters for Purchased Services for the 2026-27 year.

2026-27 Proposed Budget

| 49

Executive Summary

Resources by Category as % of the General Operating Fund Budget $505,763,470

General Operating Fund (continued) Summary of Assumptions (continued) 2026-27 Total Expenditures: $386.2M o $5.1M decrease in expenditures from the 2025-26 Revised Budget is comprised of: o Removal of any one-time 2025-26 expenditures. o Total compensation increases related to 1.0 percent COLA for all staff, step increases for nonBVEA staff, and health insurance rate increases for all staff. o Adjustment to cell phone benefits to become PERA includable. o Decreased staff FTE for formula adjustments for classroom teachers, Art/Music/PE teachers, and paraeducators due to declining enrollment projection. Additional support to close the opportunity and achievement gaps, support equity, social emotional learning, special education services, and maintaining and ensuring adequate district operational functions were included in ongoing and onetime funding. o One-time Staffing Reserve for general education support as well as special education support. o Addition of multi-year budget requests approved in the prior years which were held in contingency. o Ongoing expenditure for utility inflationary cost increases and an increase of ongoing FTE for an expansion of the APEX course offerings. Other items include removing ASCENT program expense as that program has been sunset by the State, additional budget for health services support, security maintenance and operations as well as Information Technology device inflation, and other fees, contracts and services. o One-time expenditures for staffing reserves, Grad+, textbook materials (prepaid accounting item), Special Education Moderate Need student pilot program, Strategic Plan Implementation, negotiated compensation such as RBT, hard to fill stipends, snow stipends, additional BVPA holiday and day off compensation, BVSD Enrollment Showcase, health curriculum, Teacher Substitute pay increase as well as other fees, contracts and services. 2026-27 Total Reserves: $44.2M o $9.9M net decrease in Reserves from the 2025-26 Revised Budget is comprised of: o An overall decrease in expenditures will result in a decrease of the required TABOR and contingency reserves. In 2026-27 there is $4.8M multi-year projects being approved and $487K in multi-year contract reserves being held in addition to the continued amounts for Inventory and Climate Reserve. o Multi-year project reserve includes future textbook and materials prepaid accounting items, multi year approvals for Grad Plus and Family Engagement, and future staff commitments negotiated which continue for the 2027-28 school year.

50 |

2026-27 Proposed Budget

General Operating Fund (continued) Summary of Assumptions (continued)

Executive Summary

2026-27 Total Transfers: $69.9M o $6.9M net decrease in Transfers from the General Operating Fund from the 2025-26 Revised Budget is comprised of: o Removal of any one-time 2025-26 transfers including $9.0M for Differentiated School Support. o Increase of ongoing transfers to funds, as needed, pertaining to 1.0 percent COLA, step increases, negotiation schedule adjustments, and health insurance rate increase of 4.6 percent. o Activity to the Preschool Fund to support program as the revenue allocated from The Colorado Department of Early Childhood is flat as compared to 2025-26 as well as support Enrichment calendar and work time change to account for more staff eligible for benefits including health insurance and holidays. o Decrease in Capital Reserve Fund due to removal of one-time transfer in 2025-26. o Food Services Fund decrease due to a one-time grant to offset food costs, offset by a small increase for utility rate increases and compensation adjustments such as COLA, steps, and health. o Increase to the Transportation Fund for support of McKinney-Vento transportation, a small increase in utility rate increases, COLA, steps and health insurance as well as a change to the BVCEA salary schedule and stipends that will be paid. o An increase one-time and ongoing from Community Schools Fund to support schools renting out their buildings as well as support for the Maintenance and Operations department. o Increase ongoing transfer to the Charter Fund per negotiated contracts with charter schools to reflect increase in Per Pupil Revenue other negotiated revenue areas such as Categorical funding.

2026-27 Proposed Budget

| 51

General Operating Fund (continued) Stretching Your BVSD Dollar

22-23

23-24

24-25

25-26

26-27

REVISED

PROPOSED

% of

BUDGET $250,951,874 186,789,897 46,217,439 6,628,541 1,212,549

BUDGET $262,687,714 194,366,420 51,079,027 4,611,370 1,164,309

BUDGET $278,688,614 204,248,015 56,910,738 5,611,086 1,061,991

BUDGET $274,832,062 197,115,575 61,146,652 4,189,615 1,781,476

BUDGET $271,297,777 193,800,843 59,617,455 7,171,355 1,578,332

Total 70.26% 50.19% 15.44% 1.86% 0.41%

8,292,685 1,810,763

8,811,898 2,654,690

8,786,613 2,070,171

9,505,491 1,093,253

8,304,054 825,738

2.15% 0.21%

INSTRUCTIONAL SUPPORT Student Services Instructional Staff Support

$35,207,272 20,333,128 14,874,144

$37,973,351 24,624,518 13,348,833

$43,233,562 26,895,673 16,337,889

$42,629,230 26,003,681 16,625,549

$39,922,226 24,007,877 15,914,349

10.34% 6.22% 4.12%

SCHOOL ADMINISTRATION AND OPERATIONS School Administration Operations and Maintenance

$38,252,481

$39,731,901

$44,772,234

$45,702,436

$48,686,298

12.60%

28,920,097 9,332,384

31,032,449 8,699,452

33,684,220 11,088,014

32,271,650 13,430,786

31,598,042 17,088,256

8.18% 4.42%

DISTRICT WIDE SERVICES AND COMMUNITY OBLIGATIONS General Administration Business Services Central Services

$26,989,964

$27,707,378

$28,736,177

$28,185,298

$26,324,854

6.81%

6,046,065 5,419,030 15,524,869

5,049,313 5,622,150 17,035,915

5,220,786 5,400,831 18,114,560

5,727,805 6,073,607 16,383,886

5,022,628 5,924,968 15,377,258

1.30% 1.53% 3.98%

GRAND TOTAL

$351,401,591

$368,100,344

$395,430,587

$391,349,026

$386,231,155

100.00%

INSTRUCTION Regular Education Special Education Career and Technical Education Cocurricular Education and Athletics Culturally and Linguistically Diverse Education Gifted and Talented Education

Footnotes: 1 Category is a grouping of like SRE accounts within the CDE Chart of Accounts. 2 Group is a direct title of the SRE (Special Reporting Element) within the CDE Chart of Accounts. 3 Program is the Program or Project title from the CDE or BVSD Chart of Accounts. 4 % of total equals budgeted dollars divided by the grand total.

52 |

2026-27 Proposed Budget

General Operating Fund (continued) Budget Adjustment Plan The 2026-27 Proposed Budget adjustment plan outlines notable changes to the General Operating Fund's expenditure budget, comparing the 2025-26 Revised Budget to the current year's budget. All Program Areas Provides $1.5M and $2.7M increases in step (non-BVEA staff) and 1.0 COLA increases (for all staff), $948K for variable benefits related to the step and COLA raises, $1.2M for Health insurance rate increase of 4.6 percent, $1.4M for Horizontal Lane Changes, $2.6M in Salary Attrition savings from turnover of senior staff and $2.2M reduction in staffing formula teacher and paraeducator due to decline in enrollment. Ongoing increases of $1.3M for BVCEA compensation including market adjustments, $156K for BVPA compensation impacts for subs to cover additional annual leave, $515K for BVEA compensation including salary transition impacts, and $76K for BVEOP for compensation for market adjustments. Also added is the impact of ongoing PERA expense for including the value of the cell phone stipends $53K. Reduction was made in ELD Staffing and Custodial Staffing due to changes in charter contracts ($270K). An approved APEX program expansion $410K and as needed Vison and Hearing Screeners $15K was built in ongoing. One-time BVPA compensation (president, RBT, extra holiday, early retirement) $526K, one-time BVCEA Snow Stipend and President $105K, and one-time BVEA compensation has been included (hard to fill stipends, salary transition impact) $1.9M. Staffing formulas for staff have been adjusted due to enrollment impacts. Instruction Remove 2024-25 One-time Textbook and Instructional Materials Remove 2024-25 One-time School Resource Allocation Carryover Remove 2024-25 One-time Heatherwood STEAM program Remove 2024-25 One-time Special Education Staffing Reserve Subtotal Changes In Carryover Funds

Department $

All Schools All Schools Elementary School All Schools

APEX High School BVSD Online Concurrent Enrollment All Schools

31,500 5,000 11,654 (230,000) (99,000) (280,846)

Remove One-time PERA Audit Adjustment $ Remove One-time Summer Summit Remove One-time Instructional Staff due to October Count adjustment Remove One-time Textbook Materials PE High School Remove One-time Concurrent Enrollment Tuition to Post Secondary Sites Remove One-time Out of District Placements Special Education Remove One-time Impact on Education support Remove One-time Grad Plus Support Stipends Remove One-time Credit Recovery software Remove One-time Vocabulary.com and Membeam software Remove One-time Moderate Need Special Education program (FTE) Remove One-time Staffing Reserve Remove One-time English Language Arts Materials Remove One-time Seal of Climate Literacy supplies Remove One-time Bilingual Expansion Materials Add One-time Staffing Reserve Add One-time Substitute Teacher Pay - professional development and Emeritus position Add One-time Special Education Staffing Reserve Add One-time Textbook Materials (prepaid item) Add One-time Moderate Need Special Education program (FTE) Add One-time Grad Plus Support Stipends Subtotal Changes in One-Time Funding $

(400,000) (550,690) (385,613) (85,378) (60,000) (351,000) (184,000) (111,512) (30,000) (36,500) (1,056,083) (2,964,366) (200,000) (5,000) (10,600) 2,500,000 1,500,000 1,200,000 940,487 2,171,700 111,494 1,992,939

District Wide Various Schools District Wide High School High School Special Education Various Schools Grad Plus Secondary Schools District Wide Special Education District Wide Literacy Secondary Schools Middle School Level District Wide District Wide Special Education District Wide Special Education Grad Plus

Instruction Total

(6,108,813)

Add Ongoing APEX Program support Add Ongoing Professional Services support Add 1:Web Program support Remove Ongoing ASCENT Program elimination from the State Remove Ongoing SRA due to declining enrollment Subtotal Changes In Ongoing Funding

2026-27 Proposed Budget

$ $

Executive Summary

(6,134,779) (380,110) (216,026) (1,089,991) (7,820,906)

| 53

General Operating Fund (continued) Budget Adjustment Plan (continued) Student Support Services Remove 2024-25 Special Carryover request Remove 2024-25 Medicaid Carryover Subtotal Changes In Carryover Funds

Department Superintendent's Office Nursing Services

(55,752) (1,508,417) (1,564,169)

Add Ongoing Health Services AED Everywhere Subtotal Changes In Ongoing Funding

$ $

17,876 17,876

District Wide

Remove One-time Translations Remove One-time Enrollment Software Remove One-time Health Curriculum Support Add One-time Health Curriculum Support Add One-time Grad Plus building (FTE) Add One-time Health Services support (FTE) Subtotal Changes In One-Time Funding

Communications Student Enrollment Nursing Services Nursing Services High School Nursing Services

(175,000) (4,851) (60,000) 106,500 275,000 187,500 329,149

Student Support Services Total

(1,217,144)

Instructional Support Programs Remove 2024-25 BVPA Tuition Carryover Remove 2024-25 Special Carryover request Subtotal Changes In Carryover Funds

Remove One-time READ Act support Remove One-time Student and Staff Information Technology Remove One-time Special Education settlements Remove One-time Family Engagement Teams Remove One-time Strategic Plan Implementation (FTE) Add One-time Credit Recovery software Add One-time Family Engagement Teams Add One-time Strategic Plan Implementation (FTE) Subtotal Changes in One-Time Funding

Instructional Support Programs Total

(57,719) (3,000) (60,719)

District Wide Curriculum

Literacy Information Technology Special Education Various Locations District Wide High Schools Various Locations District Wide

(49,872) (375,000) (320,000) (7,920) (1,000,000) 30,000 7,920 1,000,000 (714,872)

(775,591)

School Administration and Operations Remove 2024-25 Department Special Carryover Requests Remove 2024-25 University of Virginia (UVA) Support Subtotal Changes In Carryover Funds Add Ongoing Utility inflation increases Add Ongoing Custodial Supply Add Ongoing Security staff and student badges Add Ongoing Maintenance and Operations Add Ongoing Operations and Technology Fund Transfer Subtotal Changes in Ongoing Funding Remove One-time Market Review consultant Remove One-time BVPA and BVCEA President support Remove One-time Legal Office Remove One-time BVSD Showcase Remove One-time Long Range Planning Remove One-time Safety Red Buckets Remove One-time Maintenance Remove One-time Security professional development and badging Add One-time Campus Monitors (FTE) Add One-time Long Range Planning Impact Add One-time BVSD Showcase Add One-time Maintenance and Operations Subtotal Changes in One-Time Funding

Department

$ $ $

$ $

Department

(381,152) (195,347) (576,499)

Various Departments Superintendent's Office

629,180 20,000 45,000 700,000 (3,745,000) (2,350,820)

District-Wide All Schools District-Wide District-Wide District-Wide

(100,000) (64,535) (300,000) (130,000) (150,000) (110,000) (190,000) (84,180) 432,070 5,000,000 175,000 271,000 4,749,355

District Wide Human Resources Legal Office District Wide Operations Operations Operations Security High Schools District Wide District Wide District Wide

General Operating Fund (continued)

54 |

2026-27 Proposed Budget

Budget Adjustment Plan (continued) District-Wide Services/Central Administration Remove 2024-25 Information Technology Computer Refresh - Student and Staff Subtotal Changes In Carryover Funds

$ $

Department

(166,708) (166,708)

Information Technology

District-Wide Services/Central Administration (continued) Add Ongoing Human Resource substitute software Add Ongoing Employee Computer Tech Refresh Add Ongoing Operations and Technology Fund Transfer Add Ongoing Software and Phone inflation Add Ongoing State and Federal work place posters Subtotal Changes in Ongoing Funding

15,000 50,000 (65,000) 100,000 16,600 116,600

Information Technology Information Technology Information Technology Information Technology Human Resources

Communications Operations and Maintenance

Remove One-time Communications Marketing and Support Remove One-time Snow Stipend Subtotal Changes in One-Time Funding

(25,000) (109,127) (134,127)

District-Wide Services/Central Administration Total

(184,235)

(5,050,400)

Executive Summary

All Program Areas Total

2026-27 Proposed Budget

| 55

General Operating Fund (continued) Summary of Changes in FTE This a summary of the General Fund base positions. 2025-26 REVISED BUDGET

2,793.193

FTE

ADMINISTRATION CHANGES 605 CURRICULUM, ASSESSMENT & INSTRUCTION Budget Reorganization for Strategic Realignment of Administrative Resources

Change (0.5000)

(0.500)

607 STRATEGIC INITIATIVES Budget Reorganization for Strategic Realignment of Administrative Resources

Change (1.0000)

(1.000)

614 INSTITUTIONAL EQUITY Budget Reorganization GT TOSA to GT Director

Change (0.5000)

(0.500)

616 LANGUAGE, CULTURE & EQUITY Remove ELD Teachers due to charter negotiations

Change (0.700)

(0.700)

643 ENVIRONMENTAL SERVICES Remove Custodians due to charter negotiations Budget Reorganization Security Manager and Executive Director of Safety and Transportation

Change (1.750) (1.600)

(3.350)

687 HUMAN RESOURCES Budget Reorganization Operations Recruitment Specialist Remove One-time PARA and Unit C President

Change 0.100 (0.687)

(0.587)

689 INFORMATION TECHNOLOGY Budget Reorganization for Strategic Realignment of Administrative Resources

Change (2.0000)

(2.000)

SUBTOTAL ADMINISTRATION FTE ADDITIONS (REDUCTIONS) SCHOOL CHANGES Staffing Formula - Elementary Teachers Staffing Formula - Middle School Teachers Staffing Formula - High School Teachers Staffing Formula - Elementary Paras Staffing Formula - Middle School Paras Staffing Formula - High School Paras Staffing Formula - Elementary Specials Remove 2025-2026 Staffing Formula - Elementary Teachers - One-time due to staffing reserve balance Remove 2025-2026 Staffing Formula - Elementary Paras - One-time due to staffing reserve balance Remove 2025-2026 Staffing Formula - Middle Teachers - One-time due to staffing reserve balance Remove 2025-2026 Staffing Formula - Middle Paras - One-time due to staffing reserve balance Remove 2025-2026 One-time Special Education Moderate Need Teachers Remove 2025-2026 One-time Special Education Moderate Need TOSA Remove 2025-2026 One-time Grad Plus Building Coordinators Remove 2025-2026 One-time STEAM TOSA - Heatherwood Add One-time Grad Plus Building Coordinators Add One-time and Ongoing FTE to balance to allocations Add One-time STEAM TOSA - Heatherwood Add One-time Campus Monitors Add One-time TOSA Moderate Need Special Education Coach Add One-time Moderate Need Special Education Teachers Add One-time Moderate Need Special Education Paras Add Ongoing FTE from Strategic Realignment of Administrative Resources (Teacher FTE value) Add Ongoing APEX Teacher - program expansion

SUBTOTAL SCHOOL FTE ADDITIONS (REDUCTIONS) TOTAL STAFFING FTE ADDITIONS/REDUCTIONS 2026-27 PROPOSED BUDGET

56 |

(8.637) Change (6.265) (7.397) (0.819) (0.706) (0.383) (0.027) (1.106) (1.466) (0.676) (1.001) (0.178) (7.000) (1.000) (2.500) (0.500) 2.500 (0.0050) 0.500 6.500 1.000 13.000 5.000 7.850 3.000

8.321 (0.316) 2,792.877

FTE

2026-27 Proposed Budget

Capital Projects The two funds that comprise this section are the Building Fund and the Capital Reserve Fund. Each fund records revenue as well as capital expenditures incurred for upgrades, replacements, constructing, repairing, or equipping fixed assets within the district. Building Fund Summary The Building for Student Success program is a bond-funded capital improvement program that has provided renovations to schools and facilities throughout BVSD. Funding for the program was generously approved by voters in 2014 and is managed separately from the district’s general operating budget and other funds. These funds may only be used for construction, personnel to manage construction, and to purchase items such as furniture or equipment. The $677.1M program, which has provided improvements at every school and facility, is 97 percent complete. Some relatively small projects are planned for 2022. The remaining balance of $13.3M is allocated to finish design and contribute to construction of a new building for New Vista High School. The funds for the New Vista project are not sufficient to complete construction and additional funding will be needed. Building Fund In November 2022, BVSD voters supported measure 5A which allows the district to increase its debt through the sale of bonds to raise funds for the work described in the 2022 Critical Needs Plan. The plan was developed from a 2021 third-party assessment of BVSD’s 4.8 million square feet of facility space and associated sites. Working with BVSD staff, the consultant evaluated major architectural, mechanical, electrical, and site infrastructure system components, estimating their “in-kind” replacement values and where each is within its expected lifecycle. The assessment prioritized identified requirements by urgency related to due date. This data was evaluated by district staff and reviewed with the 23-member Capital Improvement Plan Review Committee to develop the 2022 Critical Needs Plan.