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34D54876984504F68725849A0053BCA3 Hearing Summary

PUBLIC
BILL SUMMARY For REFLECTIONS ON FINANCE FORMULA DISCUSSIONS, SIMULATION TOOL, AND NEXT STEPS

INTERIM COMMITTEE LEGISLATIVE INTERIM COMMITTEE ON SCHOOL FINANCE
Date Oct 21, 2019
Location SCR 357

Reflections on Finance Formula Discussions, Simulation Tool, and Next Steps - Committee Discussion Only


	09:14:40 AM	Rebecca Sibillia and Matt Richmond, EdBuild, discussed the EdBuild simulation tool and how it may help the committee make decisions regarding the school finance formula. Committee discussion ensued.
	09:47:59 AM	Ms. Sibillia and Mr. Richmond provided an overview of the simulation tool, and the committee discussed each factor that is included in the tool.
	10:02:06 AM	Committee discussion continued.
	10:05:47 AM	Mr. Richmond and Ms. Sibillia responded to questions about the negative factor and the budget stabilization factor in the simulation.
	10:16:36 AM	The committee recessed.
	10:32:46 AM	The committee came back to order, and the committee continued the discussion with the panel from EdBuild. Ms. Sibillia discussed the budget stabilization factor and how the simulation tool operates with the assumption that there is no budget stabilization factor in the current finance formula. Mr. Richmond walked the committee through the simulation tool.
	11:10:25 AM	The committee continued the discussion of the simulation tool and each of the factors included in the funding formula.
	11:27:27 AM	Mr. Richmond gave an example of an option for a formula model that the committee can move forward with. Mr. Richmond and Ms. Sibillia discussed the variables in this particular model. The panel answered questions from the committee.
	11:58:04 AM	The committee recessed.
	12:39:09 PM	The committee came back to order.
	12:39:20 PM	Ms. Sibillia and Mr. Richmond returned to the table to provide a wrap up of the services EdBuild offered and the options that the committee has moving forward. Committee discussion ensued.