Senator Kemp Hannon announced that the 2005-2006 Legislative Budget agreement provides $24.6 billion, reflecting an increase of $848 million in formula driven and other educational assistance to schools across New York State.
As a result, the Farmingdale School District will receive school aid in the amount of $20,566,371 - - an increase of more than $1 million in comparison to the proposed Executive Budget. This state aid to Farmingdale is also a 9.25 percent increase from 2004-05 aid.
"Since 1995, we have increased school aid by over 65 percent, which is double the rate of inflation," said Senator Hannon. "The school districts in this state will receive a 5.5 percent increase in aid that will enable them to provide a world class education, while providing localities with the resources they need to keep property taxes under control for homeowners and small business."
The budget provides $20 million in additional funding for the School Tax Relief program (STAR) by rejecting the executive's proposed STAR cap. STAR in total amounts to $3.02 billion.
This budget also accepts the executive's proposal for a minimum wealth adjusted increase for all districts from .5 percent to 2.5 percent. In addition, it provides $30 million in additional operating aid to the poorest school districts in the state. Present Law funding is provided for Transportation Aid; Growth Aid; Full Day Kindergarten; Universal Pre-K; Class Size Reduction; Instructional Materials Aid, Teacher Support Aid, Centers and Mentor Intern Program; Categorical Reading; Improving Pupil Performance; Magnet Schools and Bilingual Education.