Denver Public Schools has lost more than $6 million in public funding tied to declining enrollment since the budget was approved, a financial update to be presented to the Board of Education on Thursday shows.

The revenue loss is reflected in the district’s amended draft budget.

DPS enrollment dropped by about 1,200 students — a 1.4% year-over-year decline — in the fall, according to the district.

In December, officials estimated revenue loss at $18 million. But because of a practice known as “smoothing” — which averages pupil counts over three years, rather than a single year — the immediate impact was estimated at $9 million.

DPS officials could not explain by publication why the revenue impact shown in district documents — about $6.2 million — differs from its earlier estimate of roughly $9 million, as Chief Financial Officer Chuck Carpenter was out of the office Tuesday.

To put the nearly $6.2 million in revenue losses into perspective, closing seven schools and restructuring three others last year saved DPS about $29.9 million.

It costs, on average, about $4.7 million to operate a school, according to the district. But depending on enrollment, those costs can range from roughly $2 million to $19 million.

Taken together, these figures underscore why district leaders now point to boundary and enrollment changes as the next lever.

Broadly speaking, school districts typically consider school boundaries to address increases or decreases in student enrollment, overcrowding or underutilization, or when opening or closing schools.

DPS hasn’t done this, though.

Instead — on Superintendent Alex Marrero’s recommendation — the board has closed schools based on campus size and utilization, without revisiting attendance boundaries.

Over time, Denver has increasingly relied on school choice, which allows families to enroll students outside their attendance boundaries, rather than on neighborhood assignments.

Including Early Childhood Education, the district’s total enrollment is 89,292.

The district’s enrollment peaked in 2019 and has been declining ever since, with the exception of the recent influx of immigrants, which provided a temporary boost.

Lower birth rates, rising housing costs and gentrification have been cited as key drivers of the district’s enrollment declines.

District officials have said that enrollment losses in Denver now outpace what school closures alone can address.

The board shuttered seven schools and re-organized three others last year to address declining enrollment.

In Colorado, funding follows students.

Every year, on or about Oct. 1, school districts conduct what’s called “The October Count.” This count is used to determine funding levels.