On May 7, 2024, the General Assembly passed H.B. 5523, a budget stabilization bill that appropriates funds for fiscal year 2025 and makes a number of different policy changes to K-12 education and other areas. Along with maintaining the $150 million in additional funding for K-12 education in FY 2025 that was allotted as part of the state budget passed last year, the bill overhauls how Connecticut distributes state education funding to school districts.
This brief details how an inflation-based adjustment to the Education Cost Sharing (ECS) formula's foundation amount could be implemented to mitigate the annual increasing costs of providing educational services. The potential adjustment would alleviate districts’ reliance on local sources to cover rising costs and would ensure all districts have the resources they need to properly operate their schools and provide their students with a high-quality education when economic changes occur.
The Education Cost Sharing (ECS) formula uses several components to calculate town ECS grants, including student counts and town wealth data. This projection model details how each of the ECS formula's components impact a town's ECS grant.
The Education Cost Sharing (ECS) formula uses several components to calculate town ECS grants, including student counts and town wealth data. This model shows how each town's variables for the ECS formula have changed over the past five years.
On February 7, 2024, Governor Ned Lamont released his recommended budget adjustments for fiscal year 2025 — the second year of the state's biennial budget. The governor's proposal would alter the current state budget and make a number of changes to policies and funding for K-12 education — including reducing funding appropriated for public schools by $62.9 million.
Since property tax revenue remains the largest source for education funding in Connecticut, tax abatements raise questions about the impacts of incentives on communities’ abilities to fund their local public schools. This document helps address some of these frequently asked questions about tax abatements and their potential impacts on local education funding.