Franklin Matters: In the News: "Student Opportunity Act funding in question"

Monday, April 13, 2020

In the News: "Student Opportunity Act funding in question"

From the Milford Daily News, articles of interest for Franklin:

"Pushed by Senate President Karen Spilka, D-Ashland, and signed into law by Gov. Charlie Baker in November, the $1.4 billion Student Opportunity Act aims to invest in students who have been left behind, such as those with disabilities or limited English skills. It implements the recommendations of a state commission, which reported in 2015 that the state’s outdated school funding formula, known as the foundation budget, underestimates the cost of education by $1 billion annually.

The injection of new cash from the state is meant to begin next fiscal year, which begins July 1. It was included in Baker’s FY2021 $44.6 billion budget, which was based on the projection that the state would collect an estimated $31.15 billion in tax revenue during fiscal 2021.

But economic activity has halted in an effort to slow the spread of the new coronavirus. Nonessential businesses have shut down and residents are staying home to adhere to physical distancing guidelines.

As a result, financial experts expect state revenues will fall."

Continue reading the article online (subscription may be required)
https://www.milforddailynews.com/news/20200412/student-opportunity-act-funding-in-question-coronavirus-pandemic-slows-state-revenues

State revenues are likely to fall, driven by the same circumstances on the local level Franklin's revenues are likely to fall as well. How much is still too early to say. Assuming the 4th quarter of Fiscal Year 2020 sees the dip, the current year budget will need looking at. The revenue forecast for FY 2021 is already in jeopardy as stated by Town Administrator Jamie Hellen in the most recent interview. (4/10/20( https://anchor.fm/letstalkfranklin/episodes/Update-from-Town-Administrator-Jamie-Hellen-eclf6n

Getting back to the school budget, the Franklin School Committee holds their budget hearing Tuesday with a remote meeting. The budget presentation and related documents were shared here on Sunday.

https://www.franklinmatters.org/2020/04/franklin-ma-school-committee-agenda.html

Presentation Link =
https://www.slideshare.net/shersteve/fps-fy-2021-budget-hearing-presentation-20200414

All the documents released for this budget hearing can be found online https://www.franklinps.net/district/school-district-budget/pages/fy-2021-budget

Links I would bring attention to