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Q&A
Discussion on state foundation aid funding
0:40:35
·
88 sec
Council Member Justin Brannan inquires about the state foundation aid funding in the executive plan, which is below the amount received in the state's enacted budget. Deputy Chancellor Emma Vadehra explains the current and expected funding amounts, as well as the allocation of restricted funds.
- The city will receive an additional $539 million in state foundation aid
- An additional $250 million is expected by the time of the adopted budget
- $240 million is restricted for contracts for excellence funding, largely to support hiring 3,700 teachers for class size reduction
Justin Brannan
0:40:35
Okay.
0:40:38
Let me talk a bit about the school foundation aid.
0:40:40
Executive plan includes an additional $287,000,000 in state foundation aid funding, Yet the amount of state school funding reflected in the executive plan is below the amount of school aid funding the city received in the state's enacted budget.
0:40:56
So as a result, we assume that additional foundation aid and overall school aid will be added to the financial plan?
0:41:04
So based on the enacted state budget, how much additional foundation aid above what is currently budgeted will the city be receiving?
Emma Vadehra
0:41:16
So in total, we will be receiving an additional $539,000,000 As you know, that's less than we had expected to receive under the previous formula.
0:41:28
As you also know, the state budget wasn't enacted yet at the time of the adopted budget, but we do expect to receive roughly an additional $250,000,000 by the time of our adopted budget.
Justin Brannan
0:41:40
And how much of how much of that is restricted versus unrestricted?
Emma Vadehra
0:41:43
$240,000,000 is restricted for contracts for excellence funding, which will, of course, be a large part of not all of, but a large part of how we fund our schools to hire 3,700 teachers as part of our class size planning for next year.
0:41:56
So the city put in some funding for that in the executive budget, and then we'll be adding state funding and additional city funding and adopt.