| |
Formula Component |
House 1 |
House Ways and Means |
| Changes to Foundation Budget |
| |
Special Ed. assumed in-district enrollment |
Rises from current 3.5 percent to 3.75 in FY02, 4.0 percent in FY04 |
same |
| |
Special Ed. assumed tuitioned-out enrollment |
Adds 9.5 pct of special education pre-school enrollment in FY03 |
same |
| |
Inflation |
Most recent year's inflation used, rather than long-term inflation since 1992 |
same |
| |
Wage adjustment factor |
Communities below 1.0 are raised halfway to that point; 2nd year phase-in |
same |
| |
Technology allotment |
$30 per pupil in FY03 |
same |
| |
Enrollment |
Higher of projected or actual enrollment, beginning in FY03 |
Actual enrollment would continue to be used in all cases |
| Ability to Pay |
| |
Equalized valuation (EQV) |
CY 2000 EQV, from DOR |
same |
| |
Income |
Pct of state average income per capita, from DOR |
same |
| |
Residential adjustment to EQV |
Residential EQV multiplied by town pct of state avg 96-98 avg income |
same |
| |
Non-residential EQV |
Not adjusted by income; full value |
same |
| Local Effort |
| |
Maximum school tax rate required |
2.2 times FY01 state average of 6.80 = $14.96 |
2.0 times FY02 state average (preliminary contribution) of $7.22 = $14.44 |
| |
Maximum net school spending required |
No maximum |
No district is required to spend more than 150 percent of foundation |
| |
Minimum school tax rate required |
No minimum rate required |
If foundation gap exists, town must fund up to $1.00 additional implicit tax rate |
| |
Municipal revenue growth factor |
Capped at the lesser of 6.75 pct or 1.5 times the state average |
same |
| Aid |
| |
Base aid |
Total FY01 Chapter 70 net of $53 million in supplemental Chapter 70 |
Total FY01 Chapter 70 including $53 million in supplemental Chapter 70 |
| |
Per Pupil Aid |
$50 per pupil |
2 percent increase over FY01 Chapter 70 aid per pupil, applied to FY02 enrollment |
| |
CLASSment of aid with ability to pay |
New aid funds 10 to 25 pct of growth in foundation, based upon wealth |
If state share of total foundation budget is too low, "wealth ratio" aid is added |
| |
Bringing districts up to foundation |
Foundation aid ensures that each district reaches foundation |
same |
| |
Hold harmless to FY01 aid |
No district receives less total Chapter 70 aid than in FY01 |
No district receives less than FY01 total Chapter 70 aid increased by one percent |
| Compliance |
| |
Net School Spending Requirement |
District must spend its required contribution plus its Chapter 70 aid |
same |
| |
Professional Development Requirement |
None |
$125 per pupil |
State Government · State Services 
