Note how percentages are changing, only a $63,000 increase in Chapter 70 Aid while Req Local Contrib went up by almost $500,000
Transcript of "School Budget Basics- State Funding 101"
School Funding Basics: State Funding 101MURSD Regional School CommitteeNovember 7, 2011
What is Chapter 70? It is the state’s program to provide aid to public elementary and secondary schools It also establishes a minimum spending requirement for each school district and minimum requirements for each municipality’s share of district cost One of the hallmarks of Chapter 70 is the establishment of the Foundation Budget
Foundation Budget History: Established in FY94, modified in FY07 Original Intent: “To develop an adequate- but not excessive- level of funding.” It is a minimum funding level The Foundation Budget formula looks at 11 different funding categories, 13 different enrollment subpopulations, & geographical location in MA to develop a per pupil budget The amount varies from district to district: $9,729 is avg for FY12 (high- $11,539 in Boston, low- $7,988 in Marion)… MURSD’s is $8,584 per pupil
Required Local Contribution Chapter 70 also provides for a Required Local Contribution: based upon 2 factors- The previous year’s required contribution The municipality’s wealth (based upon aggregate personal income levels and property valuations)• DESE has established a target local share of 59% and target aid share of 41%
Net School Spending Also known as the “Net School Spending Requirement” Net School Spending =Required Net School Spending+ Chapter 70 Aid Required Local Contribution =Required Local Contribution + Chapter 70 Aid