Children arrive at school amid the coronavirus disease (COVID-19) pandemic in Brooklyn, New York, US on October 4, 2021.
The New York City Department of Education (DOE) working group charged with reviewing the city’s Fair Student Funding formula—a way that the city funds its schools based on individual student need—is best for NYC students. issued its recommendations for how to provide in the next financial year.
Following the release of those recommendations on 4 November, the city’s Independent Budget Office (IBO) fake The financial implications of the task force’s top five recommendations – indicating that those changes would require up to $1.3 billion in new funding.
These recommendations include an increase in the basic foundation amount each school receives, an additional weight for students in temporary housing, a concentration load that takes into account students with higher needs in each school, and an additional weight for all students who experience poverty. Elimination of an additional poverty load and a portfolio load originally required for special educational programs and schools.
The IBO’s simulation anticipates that in order to achieve all of the DOE Working Group’s recommendations, additional funding must be allocated.
The IBO estimates that about $433 million to $1.3 billion will be needed to implement these recommendations.
According to IBO their simulation model differs from that of the DOE Working Group because “IBO’s simulations do not assume that the changes are net-zero, meaning that increases in schools under one option will be offset by reductions in the other.”
DOE Chancellor David C. Banks, while addressing the working group’s efforts to improve the Fair Student Funding formula, said the department is taking the recommendations very seriously.
“We will review this in the current financial context and use your recommendations to consider how we propose to optimize the Fair Student Funding (FSF) formula for next year,” the banks said in a letter Friday. be applied equally.” “As we strive to build a stronger, more equitable education system, I am grateful for your dedication to our students and school communities. I look forward to increasing state and federal funding and best meeting the needs of our students.” We can work together on future engagements to make ends meet.”
To view IBO’s presentation, visit their website ibo.nyc.ny.us.