Speaking to education groups on Thursday, Ritter said that the plan would include a "modest decrease" for kindergarten through 12th grade schools.

He plans to unveil his complete budget plan for next year late Friday.

Funding for kindergarten through 12th grade schools is protected by a constitutional amendment but Ritter's staff say the cut is legal.

The state faces what is expected to be a $1.3 billion shortfall in the upcoming fiscal year. That's because many of the budget-balancing moves so far have been one-time fixes, such as using stimulus money or taking money from cash funds. 

Information from: The Denver Post