Colorado Economic Recovery and Accountability

Stabilization Fund - Education

Colorado will receive approximately $760 million through the Recovery Act which is designated for maintaining funding levels for education in the face of dwindling state and local revenues. More than $621 million must be spent on K-12, post-secondary or early childhood education. Awarded by formula to governors, in exchange for each state's commitment to advance essential education reforms: (1) making improvements in teacher effectiveness and ensuring that all schools have highly qualified teachers, (2) making progress toward college and career-ready standards and rigorous assessments that will improve both teaching and learning, (3) improving achievement in low-performing schools, by providing intensive support and effective interventions in schools that need them most, and (4) gathering information to improve student learning, teacher performance, and college and career readiness through enhanced data systems that track progress. Colorado has currently been awarded $416 million for education stabilization.

The Governor's Office of State Planning and Budget (OSPB), working closely with the Joint Budget Committee, have been working with the U.S. Department of Education to distribute the funds in a way that meets the budgetary needs of Colorado while adhering to federal requirements. Colorado will is dedicating $621.8 million over three years for higher education institutions. Below is a breakout of funding by institution
 

To view a chart of the State Fiscal Stabilization Fund - Higher Education Funding please enable JavaScript in your browser or read more by viewing the press release.


 

With the economic downturn, Colorado was at risk of losing gains that had been made to restore state support of higher education.  The Act does not allow Colorado to drop below FY 2005-06 levels of state support.  The Education Stabilization Fund will shore up state resources for higher education.  These funds will keep Colorado from slipping backward and will keep tuition and fees as low as possible.  This is illistrated in the chart below:

To view a chart of the State Fiscal Stabilization Fund - Higher Education Historical Funding please enable JavaScript in your browser or read more by viewing the Colorado Status Report.