WJTV News Channel 12 - School Funding Formula Dips By $28M

School Funding Formula Dips By $28M

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Jackson -

Schools are likely to seek less money from the Mississippi Legislature for the first time since the current school funding formula was created.
An early estimate of the request for the 2015 budget year shows the formula requiring $28.5 million less for reach full funding.
Lawmakers have allocated much less than full funding in recent years, in part because of the downturn in state revenues. The gap between what the formula says is an adequate amount of aid and what the Legislature budgeted for the current 2014 budget year is $293 million. That gap would fall to $264 million the Mississippi Department of Education announced Thursday.
Todd Ivey, who calculates the department's estimates, warns the number could change as figures for last year's spending are finalized.

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