School Funding Basics: Required Local Contribution & Target Local Share
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School Funding Basics: Required Local Contribution & Target Local Share

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Presentation given to the Mendon-Upton Regional School Committee on January 27, 2014 to explain the state requirements for local contribution to the MURSD Budget and how target local share will affect ...

Presentation given to the Mendon-Upton Regional School Committee on January 27, 2014 to explain the state requirements for local contribution to the MURSD Budget and how target local share will affect the FY15 budget and beyond.

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School Funding Basics: Required Local Contribution & Target Local Share School Funding Basics: Required Local Contribution & Target Local Share Presentation Transcript

  • School Funding Basics: Required Local Contribution & Target Local Share MURSD Regional School Committee January 27, 2014
  • Target Local Contribution  Why? Staring in 2007, the State established a new funding formula… one where a greater burden for financing PK-12 education would be on municipalities  Target Local Contribution: establishes a goal of how much each municipality should contribute to PK-12 education, based upon two factors-  Aggregate property values  Aggregate personal income levels > MRGF
  • State & Local Targets  Overall goal in MA: municipalities cover 59% of foundation budget and state aid should cover 41%  But variations exist based upon wealth of community…. Ex- low of Lawrence (12.5%) to high of 82.5% (131 communities, the cap) Town Target Contribution Douglas 48.36 % Grafton 66.02 % Hopedale 52.11 % Hopkinton 82.50 % Milford 51.41 % Northbridge 46.62 %
  • Mendon & Upton Target Contributions Town Mendon Upton Target Contribution 66.05 % 62.21 %
  • The Present Gap to Target Share • 72 municipalities across the state (29%) are BELOW their target share. Mendon & Upton are two of those communities Town Target Actual % Off Contribution FY14 Contrib Mendon 66.05 % 57.26 % 8.79 % Upton 62.21 % 53.39 % 8.82 % (State Avg MRGF: 3.76%)
  • The Forced Migration to Target Share • If a community is 2.5 - 7.5% below its target, then an increment of 2% is added to the minimum local target % Town Target Actual % Off Contribution FY14 Contrib MRGF FY15 FY15 Target Mendon 66.05 % 57.26 % 8.79 % 4.16 % 58.36 % Upton 62.21 % 53.39 % 8.82 % 3.57 % 54.42 % (State Avg MRGF: 3.76%)
  • Some Important Caveats  Realize that these percentages DO NOT correspond with our assessments based upon student enrollment (For FY15- 43.51% Mendon, 56.49% Upton)  Big Driver: Increased BVT Assessment to Upton ($236,593 for 25 additional students) & Mendon ($91,074 for 6 additional students) • Hence, for FY15, Mendon’s share of the Minimum Local Contribution for the MURSD is affected more than Upton’s
  • Some Important Caveats • More LOCAL EFFORT will be required to get to Target Share & Required Local Contribution for FY16 and beyond
  • For More Info on School Budget Basics Go to the MURSD Superintendent’s Blog: www.mursd.blogspot.com