Why can the budget reserves be used to fix the shortfall instead of causing so many problems for parents with these options?
Fortunately, Jeffco has been very responsible in building reserves to prepare for tough times and the current economic challenges. Following the 2004 voter approved mill levy override, the district did not allocate all of the additional revenues for the first three years. The district intentionally built reserves with a plan to spend down the reserves over the next four years. Without the reserves, the district would be making much larger budget cuts. At the end of the 2008-2009 school year, the district had close to $160 million in reserves. The district needs to maintain approximately $60 million in reserves to be in compliance with TABOR (Taxpayers Bill of Rights) and Board of Education policy. The district plans to spend down reserves over the next four years – between $20 million and $40 million per year depending on reductions and state rescissions. At that rate, the district will be very close to the reserve amount required by law and board policy.
