CARSON CITY, Nev. — A joint session of the Senate Finance and Assembly Ways and Means committees on Thursday, May 16, approved total K-12 education funding of just more than $8 billion for the coming two-year budget cycle.
That’s a $741.8 million increase over the current K-12 budget.
The vast majority of that total is in the Distributive School Account — $6.7 billion.
The DSA is the primary budget used to fund K-12 schools and charter schools statewide and is based on providing school districts with a per pupil base funding amount.
The state’s share of the DSA is $3.15 billion and the largest contributor is the General Fund. But there’s also revenue from a dozen other sources, including the marijuana tax, permanent school fund, Initiative Petition 1 room tax revenues and federal mineral lease revenues.
The non-state share of the DSA consists of revenues from the Local School Support Tax — which generates just about $3 billion in the biennium — and the one-third public schools property tax that brings in about $525 million.
Outside of the DSA, there’s about $1.3 billion in so-called categorical funding for specific programs including those in the Other State Education Programs.
The committee actions include not only the 2 percent raises in statute for all school district employees each year but the 3 percent cost of living adjustment in 2020 promised during the campaign by Gov. Steve Sisolak.
Those two increases plus the nearly 4 percent a year increase in health insurance premiums for school personnel will cost a total of $413.2 million over the biennium.
The decisions made Thursday include continuing to funnel the revenue generated by a 3 percent room tax imposed in Clark and Washoe counties into the DSA for another two-year budget cycle. That will generate $377.7 million over the