Operations and Finance Cohort

I am writing to inform you of a change to the December treasury intercept payment that has occurred due to the implementation of SB24-017. This bill alters the distribution of state share funds, impacting the timing of payments to districts. I apologize for the late notice regarding this change, I was unaware this would occur when SB24-017 was enacted.

SB24-017 changes the way state share funds are distributed beginning in FY2024-25. The bill requires that the distribution to districts of the state share of total program be done in 1/9th approximately equal payments instead of the 1/12th payments as has been done previously.

This means that districts will receive state share funds in each month except for March, May and June annually. As districts receive their property taxes in those months, this would eliminate most, if not all, state share funds being paid in those months. The annual amount of state share will be distributed fully to each district, just primarily in 9-monthly payments instead of 12-monthly payments.

CDE notified us "for districts that have charter schools with charter intercept schedules, the treasury has updated those that are on the 9-month schedule. The remaining amounts will be withheld in the 4 months of the year. They will be better able to manage this from the start with the next fiscal year."

You can always view your intercept payment schedule at The CDE School Finance Funding page. https://www.cde.state.co.us/cdefinance/fiscalyear2024-25schoolfinancefunding

Created: January 14, 2025 12:01:12 PM