$1.3 billion increase in formula-based aids (aids appearing on runs):
$428 million Foundation Aid increase
$603 million GEA Restoration
$269 million net increase in all other aids (funded per current law formulas)
GEA Restoration: Minimum restoration 30%, maximum 98%; formula includes four tiers taking into account extraordinary needs pupils, enrollment growth, free and reduced price lunch eligible pupils, and growth in limited English proficient students. Also includes a component to assure aid to “average need” districts with a Combined Wealth Ratio of less than .780. This leaves approximately $434 million in outstanding GEA.
Foundation Aid increase: Minimum increase 0.37%; maximum 15%. Formula applies a variable phase-in factor ranging between 1% and 13.24%, taking into account Need/Resource category and other factors. Building Aid interest rate re-set for assumed amortization will again be delayed (until 2016- 17). $340 million appropriated for universal prekindergarten grants, consistent with legislation adopted last year (not a further increase). $300 million is reserved for the City of New York, $40 million for the remainder of the state.
The federal Race to the Top program as administered by NYSED has a one-time funding opportunity for public school districts to receive an allocation for the purchase of instructional technology devices (laptops, tablets etc) through their
The Smart Schools Bond Act (SSBA) authorized the issuance of $2 billion of general obligation bonds to finance improved educational technology and infrastructure to improve learning and opportunity for students throughout the State. The Smart Schools Bond Act guidance was released on April 27th and is available online at:http://www.p12.nysed.gov/mgtserv/smart_schools/.
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