hearing with W&M
K-12 sector and overall; significant piece of state budget
13.9% of gross state spending
chapter 70: $6.6B, a "new record"
puts at midpoint of implementation of SOA; three year mark of six year schedule
"has been some dialogue, discourse"
districts that are seeing their contributions increase
notes that though balance is set at 41% state contribution, 59% local
state contribution is actually 47% this year
variety of districts seeing local required contribution going up; administration has requested $10M reserve for that
circuit breaker has hit the half a billion dollar mark
"I'm rounding up to the nearest million"
issue that has come up as budget development has unfolded
over two years ago, state committed that the approved special education schools, issue with hiring and retention
state used federal funds ($210M grant funding) to provide grants to those schools to help with hiring and retention
FY24 plan to continue that was developed through tuition pricing process
14% tuition increase
that doesn't immediately translate to circuit breaker claims: $20M reserve for such increases
traditionally reimburse at $5M or less; $20M for this coming budget year
supplemental budget for $75M for contingent reserve if there are claims beyond the $20M
three transportation reimbursement programs at new highs
90% regional projection; non-resident vocational transportation 90%
100% of homeless reimbursement
lots of investment in the early college world
federal ESSER spending
three levels of funding have been received
ESSER I (CARES): have fully expended those funds; use expired last September
ESSER II: use of funds expire this coming September; 71% claim or expenditure rate
"We feel that districts are properly paying attention" using funding
ESSER III: good til 9/30/24
running at about 25% claims rate
"still feel good that districts are actively managing those funds and using them"
schools are availing themselves for maintenance, thus little bit of a lag there
Stewart: is there a requirement for continued spending for districts
Bill: we are not overseeing how districts balance budgets
"a lot of advisory related information there"
Hills asks about timeline
"a year from now...we'll see if people have planned accordingly"
West: do districts have the flexibility to put state aid into reserve for future years?
Bell: the short answer is not presently
districts still have to meet their net school spending
there's some language in budget designed to allow for something
three levels of funding have been received
ESSER I (CARES): have fully expended those funds; use expired last September
ESSER II: use of funds expire this coming September; 71% claim or expenditure rate
"We feel that districts are properly paying attention" using funding
ESSER III: good til 9/30/24
running at about 25% claims rate
"still feel good that districts are actively managing those funds and using them"
schools are availing themselves for maintenance, thus little bit of a lag there
Stewart: is there a requirement for continued spending for districts
Bill: we are not overseeing how districts balance budgets
"a lot of advisory related information there"
Hills asks about timeline
"a year from now...we'll see if people have planned accordingly"
West: do districts have the flexibility to put state aid into reserve for future years?
Bell: the short answer is not presently
districts still have to meet their net school spending
there's some language in budget designed to allow for something
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