Stoneham Could See 8 Percent Increase In State Education Aid

Stoneham MA

21 February, 2020

12:22 PM

Description

STONEHAM, MA — Stoneham Public Schools would receive $5.7 million under the state's new education funding formula, up 8 percent from this year, according to preliminary estimates released last month by the Massachusetts Department of Elementary and Secondary Education. Gov. Charlie Baker signed the Student Opportunity Act in November. The new law increases state aid for public schools in Massachusetts by $1.5 billion over seven years. Aimed at closing the so-called "opportunity gap," the law increases state funding for school districts serving higher proportions of students from low-income families. The bill also revamped the formula the state uses to determine how much local governments need to contribute to public education spending to qualify for state funding, known as Chapter 70 Aid. Under the new formula, Stoneham would need to contribute at least $22.3 million to education in Fiscal Year 2021, up 2.8 percent from this year. Under the preliminary numbers, total Stoneham per-pupil funding would increase $281, including a $175 increase in state funding. The new law guarantees an increase of at least $30 per pupil per year in state aid after the initial year when the new law resets the formula for calculating state aid. The final state education funding numbers will be finalized when the legislature completes the state budget.