Colorado Revised Statutes

Statute requires applicants to produce matching funds in order to receive a best award, the CDE wrote in its 2023-24 Best Annual Report.

The CDE sets each district's minimum match percentage annually under Section 22-43.7 to 109.9a of the Colorado Revised Statutes, according to its Minimum Match Guide, weighing bond capacity, mills per capita, free and reduced lunch eligibility, household income, assessed value per pupil and recent bond elections, with a statewide average of about 50%.

Best Created in 2008 is paid for with state land trust money, marijuana excise taxes, Colorado lottery funds, and interest earnings, according to the CDE, which says nearly 70% of funded projects have gone to rural and small rural districts, which often lack the capacity to raise funds locally.

State law limits a school district's bonded debt to the greater of 20% of its assessed value or 6% of its actual value.