Starting next school year (2018–19), NYC will provide City public schools with an additional $125 million in Fair Student Funding (FSF). Schools use FSF to hire teachers and staff members, purchase materials and educational resources, and support student and family-based activities.
“New York City understands that public education is not an expense but an investment, and we are continuing to put our money where our mouth is by investing in our kids, families, and public schools,” said Chancellor Richard A. Carranza following the City’s announcement. “More funding means more teachers, guidance counselors, and social workers; more professional development; and an opportunity to bring new materials and technologies into the classroom.”
Thanks to this $125 million investment:
- NYC’s FSF “floor” will increase to 90% – no school will be receiving less than 90% of their FSF, compared to 81% at the beginning of the de Blasio administration (2014) and up from the current floor of 87%. This increase impacts 854 schools and 588,285 students across every borough and school district.
- The current FSF average across all schools will increase to 93%, compared to 88% in 2014.
This FSF investment builds on the previous $230 million provided by the City during the first term of Mayor de Blasio’s administration (2014–18). In order to fund all schools at 100 percent of their FSF, New York State must provide the funding mandated by the Campaign for Fiscal Equity settlement. For the 2018-19 school year, the State is $1.2 billion short of that legal mandate.
For more information about the City’s FSF investment, check out the DOE’s website.