Today, Governor Cuomo announced his proposed $193 billion FY22 Executive Budget.
A new budget is due by April 1, 2021. Until then, the legislature and the Governor will work to come to an agreement and enact the state budget for FY22. While we continue to review the Executive Budget, some quick highlights directly related to education funding and charter schools are below:
Total Executive Budget: $193 billion, assumes that the state will receive $6 billion in new federal aid by 3/31/21.
Total School Aid: $37.1 billion, an increase of $2.1 billion. The $37.1 billion includes approximately $4 billion from the Federal Coronavirus Response and Relief Supplemental Appropriations Act (CRRSA). The Executive Budget uses the CRRSA funds to offset state spending reductions. All school districts will receive funding equal to or greater than current year funding.
Charter School Tuition: The charter tuition rate will be decreased to maintain parity in funding with school districts. The exact impact of this change is not yet known. At the time of writing this email, the Article VII Executive Budget bills that detail the changes have not been released.
Eliminate State Reimbursement to the City of New York for Charter Facilities Funding: The Executive Budget proposes to eliminate the reimbursement made to the City of New York for charter school rental assistance “in order to encourage the use of available co-located space within public facilities.”
We will keep you informed as the actual Executive Budget bills are released and we continue our review. Please watch your inbox for updates.