Colorado Governor Unveils Final Budget Proposal

Colorado Gov. Jared Polis presented his eighth and final budget proposal on Monday, adhering to the state requirement to submit a spending plan by November. Because Tuesday's election will bring a new governor and involve several ballot measures, the ultimate education funding picture remains subject to change.

The governor's plan allocates an additional $212.1 million toward K-12 schools, raising total statewide spending to roughly $10.4 billion and increasing per-pupil funding to $12,814. Additionally, the proposal sets aside $7.3 million for universal preschool, with plans to fund it through increased nicotine and gaming taxes.

To address childcare access, Polis revived a proposal to privatize Pinnacol Assurance and direct approximately $100 million from the sale toward a childcare assistance trust fund. The budget also allocates $4.7 million to establish a new Department of Higher Education and Workforce Development, while permitting colleges to raise tuition rates.