SF0090

Official summary

SF0090 Bill No.: SF0090 Drafter: TH LSO No.: 12LSO-0333 Effective Date: March 15, 2012 Enrolled Act No.: SEA0051 Chapter No.: CH0099 Prime Sponsor: Senator Coe Catch Title: School finance-amendments. Subject: School finance. Summary/Major Elements: Maintains the formula computation for the regional cost adjustment as enacted in 2005: o The higher of the hedonic wage index or the Wyoming cost of living index; o A minimum of 100 index value (statewide average). Continues JEC/JAC interim work on the model external cost adjustment (ECA), whereby model components are grouped into one of four categories, each is then subject to specified indices or analysis to ensure model is cost based: o Educational materials -BLS producer price index for office supplies and accessories; o Energy -BLS producer price index for commercial electric power weighted at 44.1% and the BLX producer price index for natural gas weighted at 55.9%; o Professional labor -market pressure based upon model monitoring process; o Nonprofessional labor -market pressure based upon model monitoring process. Market monitoring is a process established by law (W.S. 21‑13‑309(u)) which requires LSO to provide a series of reports to JEC on labor market conditions and pressure points when it considers whether to recommend any ECA to JAC in October of each year. JAC is then required to provide a recommendation to the Governor and the Legislature (W.S. 21‑13‑309(o)); The cost-based funding model (consultant's recommendations contained in 2010 cost-based report) was updated by relevant index values for materials (2.18%) and for energy components (.27%). The legislatively funded model was not modified in the same manner. For purposes of computing model block grant funding, requires school configuration changes to be approved by both state superintendent and director of school facilities department; Prospectively, co-location of schools is not an eligible reconfiguration for purposes of block grant funding.