Governor’s Proposed Budget

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Presentation transcript:

Governor’s Proposed Budget February 1, 2011 Governor’s Proposed Budget

Foundation Aid Continue Freeze of Foundation Aid Formula—Extend full phase-in to 2016-2017 Implement GEA GEA + Loss of ARRA=2.9% of School Budgets Statewide GEA based on wealth, student need, administrative efficiency, and residential property tax burden

Formulas Run in Some Aids Building Early Childhood Transportation High Cost

Impact on Chatham Total Reduction--$751,414 -13.52% ARRA -$317,184 (used by Chatham for 1 time expenses) Federal Jobs Bill -$265,481 (allocated in 2010-2011, spend in 2011-2012)

Mandate Relief Creation of Mandate Relief Redesign Team Will Report to Governor on March 1

Performance Incentives Performance Improvement Awards Management Efficiency Awards $250 million each

Property Tax Cap Introduced by Senate 2% or CPI (currently 1.65%) Language is the key item to be determined.

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