Chase: Aspen Education Foundation’s role

As the Aspen School District addresses its fund balance, related reserves, and its overall budget allocation, we understand why questions arise about Aspen Education Foundation’s role in district finances. I think it’s important to explain AEF’s role in the ASD funding process.

It is not part of AEF’s charter to fund or replenish the ASD’s financial reserves. AEF operates with a different mission — to enhance and elevate the educational experience offered within the ASD. In 2018, AEF stopped supporting the ASD general fund with an unrestricted gift. Instead, AEF funds specific positions and programs that are vital components of a superior Aspen public education and AEF works directly with the superintendent and faculty to determine what these priorities are each year. Our funding guarantees that the AEF/ASD priority programs continue to exist and function as designed — especially in times like these.

AEF feels confident that the BOE, district management, and the Expense Task Force (comprised of teachers, administrators, and community members) will be efficient and thoughtful in their approach to replenishing the fund balance, particularly as the state’s new school funding formula (which only impacts a handful of districts) negatively impacts ASD’s finances. Despite these hard budgeting decisions, we also believe strongly in the goal of increasing the compensation of our teachers to be among the highest in the state. The strategic budget management and AEF’s priorities are aligned to support both fiscal responsibility and teacher retention.

We are extremely grateful to our community and donors who make AEF’s work possible. The generosity of each of you — and your commitment to public education — has created measurable and lasting changes for the students in our community.

Cynthia Chase, AEF executive director

Aspen