Agenda Text
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Finance Director responding to #206385 Re: Projected State Aid.
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Official Text
To the Honorable Board:
In response to Agenda Item 206385:
Update of all state funding for this Fiscal Year,
I submit the following:
The Projected Cherry Sheet Revenue and State Assessments for FY2019 appearing in the Budget Book were based on the State Senate's version of the State Budget. The final approved State Budget resulted in three changes to our budgeted numbers.
REVENUE
Charter School Reimbursement increased $102,357 for a new budgeted number of $710,331
ASSESSMENTS
Charter School Tuition increased $469 for a new budgeted number of $8,656,613
School Choice Sending Tuition increased by $17,655 for a new budgeted number of $67,855
The net effect of these changes is an increase of $84,233 in state aid over and above what was projected in the FY2019 city budget process.
The School Department reached out to DESE and learned that the State has yet to release Circuit Breaker and McKinney Vento Homeless figures for FY2019.
On July 13th, Governor Baker submitted a supplemental circuit breaker appropriation which would bring an additional $87,000 into the School District but measure hasn't been approved by the State Legislature yet.
In FY2018, McKinney Vento reimbursed homeless transportation at a rate of 33%. If that holds true for FY2019, the Somerville School District would see an increase from FY2018 allotment of $63,533 to over $80,000.
Respectfully,
Edward Bean
Finance Director