FY15 Early Rate Projections
In an effort to assist Commonwealth charter schools in their budget preparations for fiscal year 2015, we are providing early rate projections.
Some key points on the Foundation Base Rates:
- These are live rates, derived from each school's October 2013 SIMS enrollment.
- The underlying assumptions (enrollment, inflation, and wage adjustment factors) used in the Foundation Base Rates are not expected to change.
- Inflation for FY15 is .86 percent.
- The cap on regular education pre-kindergarten enrollment, previously at twice the number of special education pre-kindergarten enrollment, is lifted.
Some key points on the Above Foundation Spending Rates:
- Actual Above Foundation Spending rates fluctuate until they are set in June of the fiscal year they represent.
- In the absence of the actual school spending data needed to determine the Above Foundation Spending Rates, we are providing two rates, one derived from the lowest above foundation spending percentage from the prior seven fiscal years, 2007 through 2013, and a second from the highest spending percentage from the same fiscal year bracket.
- Past rates are presented solely as a guide. Actual rates may be lower or higher than those presented.
- In a hidden sheet, users may find a district listing of the above foundation spending percentages for fiscal years 2007 through 2013.
The Facilities Rate is level funded at $893 per pupil, the same as it has been since fiscal year 2009.
As is the case with all rate projections, school business officials should allow for some margin of error when using these rates to prepare their FY15 budgets. Questions regarding this publication should be addressed to Hadley Cabral in the School Finance unit at (781) 338-6586 or . firstname.lastname@example.org