Vol. 39, No. 22
July 14, 2005
| CONTACT: JIM MORRIS Director, Public Information 573-751-3469 |
New Formula Will Give Districts More Flexibility, King Says
DESE Releases "Fact Sheet" about the School-Funding Formula
State education officials today released an updated simulation that estimates the impact of the new school-funding formula on each school district for the 2006-07 school year, compared to its funding for 2005-06.
The Department of Elementary and Secondary Education also released a short "fact sheet" that analyzes the key elements of the funding formula that was approved by lawmakers earlier this year and signed last month by Gov. Matt Blunt.
In a letter to public school officials today, Commissioner of Education D. Kent King said, "the new formula represents a dramatic departure from past methods of calculating state aid" for local school districts.
"This formula is designed to assure that all districts have at least the ‘state adequacy target’ to spend for each student’s education. The current formula is driven by tax rates rather than student needs," he said. For the 2006-07 school year, the "adequacy target" will be $6,117 per student, an amount that will be achieved through a combination of state and local funds.
The new formula "is based on new concepts and new terminology" and school officials "should give this formula an opportunity to work," King said.
He noted that several provisions of the new formula give school districts more flexibility in spending state aid. For example, the new law eliminates several categories of earmarked funds (remedial reading, gifted, textbooks, etc.). The money previously allocated for these purposes will be distributed in the future as unrestricted aid.
In addition, formula aid that is derived from riverboat gaming will now be identified and distributed through the "Classroom Trust Fund." Districts will have great flexibility to spend this source of funds.
"The new formula affords school districts far more flexibility than they have had in the past. Now it is up to districts to use that flexibility effectively," King said.