Colorado Governor Jared Polis has proposed a budget of almost $9 billion for pre-K–12 education in Colorado in 2023–24, an increase of 9% in per-pupil school funding.
Polis, in contrast, suggested a smaller increase in the state’s financial support for public institutions and universities. The new state funding will not keep up with inflation even if it is meant to restrain tuition rises.
The largest portion of the $42.7 billion state budget proposal that Polis released goes toward funding education, including K–12, higher education, and early childhood initiatives.
The governor also suggested adding an additional $86 million for financial aid and operating costs for colleges. According to Polis, the rise would allow institutions to cap tuition growth at 4% for 2023–2024.
Each year by November 1st, the governor is required to submit a budget proposal. Once the legislative session begins the next year, it is anticipated that the six-member Joint Budget Committee, which has the most influence over the budget, will make significant adjustments.