Explaining Corbett's school funding plan
Following, in question-and-answer format, is an attempt to explain the components of the School District's funding package presented Sunday by Gov. Corbett.
What sources of new money does the governor’s plan include?
For this year, it includes $45 million in a one-time federal infusion. Another $50 million comes from additional borrowing against money that will start flowing to the District next year from extending the 1 percent city sales tax surcharge beyond 2014 and diverting proceeds to the schools. It also projects that $30 million additional will come from more aggressive city property tax collection (the city projects only $28 million). And it includes nearly $16 million increase in state basic education funding for the city. But that is only $2 million more in the basic education subsidy than the District had already included in its austerity budget. The governor says it all adds up to $140 million, but the plan would only produce roughly $125 million in revenues not already factored into the District's budget. Whichever numbers are used, the total is well below the $180 million that the District sought from state and city government.
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What sources of new money does the governor’s plan include?
For this year, it includes $45 million in a one-time federal infusion. Another $50 million comes from additional borrowing against money that will start flowing to the District next year from extending the 1 percent city sales tax surcharge beyond 2014 and diverting proceeds to the schools. It also projects that $30 million additional will come from more aggressive city property tax collection (the city projects only $28 million). And it includes nearly $16 million increase in state basic education funding for the city. But that is only $2 million more in the basic education subsidy than the District had already included in its austerity budget. The governor says it all adds up to $140 million, but the plan would only produce roughly $125 million in revenues not already factored into the District's budget. Whichever numbers are used, the total is well below the $180 million that the District sought from state and city government.
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