There have been many comments on this blog about revenue, mostly on the town-side of the funding equation, when it comes to how much money the town is spending on education. However, there's also BOE revenue factored into the budgets.
Below are two revenue spreadsheets contained in the 2011-2012 BOE Budget proposal. Approximately $13,082,520 is being estimated as revenue in this budget request some of which, such as the Federal Teacher Stimulus is already factored into the budget.
The first spreadsheet is a Revenue Summary Sheet showing the various sources of estimated revenue contained in the budget (it does not show revenue from student activity fees/parking fees, that will be forthcoming soon in another topic). Click images to enlarge:
The second spreadsheet is a breakdown of the specific grant revenue contained within the budget:
The First Train Wreck (ECS Underfunding): Regarding ECS funding which accounts for $9.3M of the revenue, CT has been using Federal Stimulus money between 2009 - 2011 to fund 14% of it's obligation to the Education Cost Sharing grant to municipalities. This Federal funding expires in July.
Should CT not be able to replenish this 14% shortfall, it means Cheshire will lose approximately $1.4M in funding for education. This is the other "train wreck" in the making that may hit us very soon.
The Second Train Wreck (Teacher Stimulus Gone): The $540K Federal Teacher Stimulus is a one-time grant and will be used up in 2011-2012 budget.
The Third Train Wreck (ECS Formula Change): Even with grants/revenue Cheshire taxpayers are paying for the lion's share of education. Without these grants, it could be a lot worse. Considering that CT Dept. of Education is re-defining the ECS formula, Cheshire will be receiving less ECS grant money. Already, the committee on ECS is proposing to change the formula to shift more ECS grant money away from "wealthy towns" such as Cheshire to less-wealthy cities such as Bridgeport, New Haven, Waterbury for example. However, the tax burden will not be lessened on Cheshire.