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SF0110 • 2024

School finance-cash reserves.

AN ACT relating to school finance; eliminating the sunset date for an increase in school district operating balances and cash reserves; and providing for an effective date.

Education
Did Not Pass

The latest official action shows that this bill did not move forward in that session.

Sponsor
Senator Dockstader
Last action
2024-02-27
Official status
inactive
Effective date
3/1/2024

Plain English Breakdown

The bill did not pass in its current session and needs further action to become law.

School Finance Act: Cash Reserves

The bill removes the sunset date for school districts to keep up to 30% of their foundation program amount as operating balances and cash reserves, allowing them to continue increasing these reserves beyond June 30, 2026.

What This Bill Does

  • Removes the end date (sunset) when school districts can have up to 30% of their total funding in cash reserves and operating balances.

Who It Names or Affects

  • School districts in Wyoming

Terms To Know

Operating Balance and Cash Reserves
Money that schools have but are not spending on current needs.
Foundation Program Amount
The basic funding each school district gets from the state.

Limits and Unknowns

  • It is unclear how much extra money districts will be able to save after June 30, 2026.
  • The bill did not pass in its current session and needs further action to become law.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

SF0110S3001

3rd reading • Senator Ellis

Adopted

Plain English: The amendment removes a specific date limit for school districts to increase their operating balances and cash reserves.

  • Removes the phrase 'thereafter' and replaces it with 'June 30, 2028', effectively ending a time-limited provision on increasing district reserves.
  • Restores previously deleted language in sections that were altered by earlier amendments.
  • The exact impact of the amendment on school districts' financial operations is not fully explained and may require additional context to understand completely.
SF0110SS001

Standing Committee • Senate Education Committee

Adopted

Plain English: The amendment changes how much money school districts can keep in cash reserves and operating balances by adding a new rule that includes special education expenses.

  • Adds language to increase the amount of cash reserves and operating balances that school districts may retain, specifically accounting for amounts spent on special education.
  • Modifies two sections of the bill to include an additional amount reimbursed under Wyoming Statute 21-13-321 for special education expenses when calculating the total funds available.
  • The exact financial impact and implementation details are not specified in the amendment text.

Bill History

  1. 2024-02-27 Senate

    S 3rd Reading:Failed 12-19-0-0-0

  2. 2024-02-26 Senate

    S 2nd Reading:Passed

  3. 2024-02-23 Senate

    S COW:Passed

  4. 2024-02-19 Senate

    S Placed on General File

  5. 2024-02-19 Senate

    S04 - Education:Recommend Amend and Do Pass 5-0-0-0-0

  6. 2024-02-15 Senate

    S Introduced and Referred to S04 - Education 23-8-0-0-0

  7. 2024-02-14 Senate

    S Received for Introduction

  8. 2024-02-13 LSO

    Bill Number Assigned

Current Bill Text

Read the full stored bill text 
24LSO-0582
2024
STATE OF WYOMING
24LSO-0582
Numbered
2.0

SENATE FILE NO. SF0110

School finance-cash reserves.

Sponsored by: Senator(s) Dockstader and Representative(s) Allred, Brown and Northrup

A BILL

for

AN ACT relating to school finance; eliminating the sunset date for an increase in school district operating balances and cash reserves; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1
.

W.S. 21
‑
13
‑
313(e) is amended to read:

21
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13
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313.

Distribution of funds from foundation account; property tax and cash reserve adjustment; regulations.

(e)

Not later than January 31 of each fiscal year, and except where a different percentage is otherwise specified in this subsection, the department shall compute the amount by which each district's operating balance and cash reserves at the end of the preceding fiscal year exceed fifteen percent (15%) of the total foundation program amount computed under W.S. 21
‑
13
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309 for the preceding fiscal year. In making this calculation, the entire operating balance and cash reserves for each district for the fiscal year ending June 30, 1997, as computed by the department, shall be separately accounted for and excluded, until it has been completely expended by the district. Revenues from settlements of protested amounts attributable to levies assessed under W.S. 21
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13
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102(a)(i)(A) and (ii)(A) and 21
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13
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201, regardless of the assessment year, shall be accounted for and excluded from the calculation under this subsection for a period of not more than one (1) year following that fiscal year in which the revenue was received by a district, as verified in writing by the district and certified by the county treasurer. Except as otherwise provided in 1997 Special Session Laws, chapter 3, section 306(e), as amended, and except as excluded under this subsection, that excess shall be deemed to be a state revenue under W.S. 21
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13
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310(a) for the purpose of determining distributions under W.S. 21
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13
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311 and amounts to be rebated under W.S. 21
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13
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102.

The department shall promulgate rules, including reporting requirements and procedures for districts, to implement this subsection.

As used in this section, "operating balance and cash reserves" means those financial resources of the district which are not encumbered by the district board of trustees for expenditure to meet an existing legal obligation or otherwise restricted by law or regulation for expenditure on specific educational programs.

For purposes of this subsection, any balance within a district's separate account established under W.S. 21
‑
15
‑
109(e) for major building and facility repair and replacement shall be deemed restricted by law for expenditure as provided by W.S. 21
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15
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109(e) and shall not be considered an operating balance and cash reserve under this section. For the fiscal year ending June 30, 2022
through the
and each
fiscal year
ending June 30, 2026
thereafter
, the department shall compute the amount by which each district's operating balance and cash reserves at the end of the preceding fiscal year exceed thirty percent (30%) of the total foundation program amount computed under W.S. 21
‑
13
‑
309 for the preceding fiscal year.
During this period
For the fiscal year ending June 30, 2022 and each fiscal year thereafter
, the amount of a district's operating balance and cash reserves that may be increased from fifteen percent (15%) to thirty percent (30%) of the total foundation program amount computed under W.S. 21
‑
13
‑
309 for the preceding fiscal year shall be accounted for and reported separately and shall not be transferred or expended for purposes of capital construction. For purposes of this subsection, "capital construction" does not include major building and facility repair and replacement as defined under W.S. 21
‑
15
‑
109(a)(iii).

Section 2
.

This act is effective July 1, 2024
.

(END)

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SF0110