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

2. Foundation Aid
Continue Freeze of Foundation Aid Formula—Extend full phase-in to
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

3. Formulas Run in Some Aids
Building
Early Childhood
Transportation
High Cost

4. 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 , spend in )

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

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

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