Commissioner’s Update – January 17, 2013

Commissioner's Update - January 17, 2013
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In a two-year state budget proposal that has a lot of reductions, education was largely spared by comparison – state education funds to school districts will be essentially flat for the next two years, at the post-curtailment rate. While the budget adds $27 million to GPA, it also shifts $28 million in retirement costs to become a state/local share. Currently those retirement costs are covered entirely by the State – for all districts, from the wealthiest to the poorest. The state will continue to cover the full Unfunded Actuarial Liability – the 25-year costs of paying off retirement obligations for teachers – at $142m, and another $30m-plus for retired teachers health and life insurance.

I plan to share more about the education budget next week. For now, here are some education budget-related charts and summaries for your review.

— Stephen Bowen


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