148th GENERAL ASSEMBLY

 

FISCAL NOTE

 

DESCRIPTION:        AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO THE CREATION OF A UNIT FOR LOW-INCOME STUDENTS.

 

 

ASSUMPTIONS:


1.     This Act shall be effective the fiscal year after its enactment.

2.     This Act will create a new funding source for students enrolled in Delaware public schools who are determined low-income according to the Department of Education. State funding will be provided at a rate of 1 unit of funding for every 250 low-income students enrolled.

3.     This legislation will create an additional 186.65 state units of funding for students determined to be low-income.

4.     A student unit of funding is $66,072 while the local share of personnel costs is assumed to be $28,497. A student unit of funding excludes Division II – Energy and All Other Costs funding and Division III – Equalization funding. Other employment costs are assumed at 30.08%.

5.     Overall costs are assumed to grow 2.0% annually. 

Cost:                                                     State Share                    Local Share

            Fiscal Year 2016:                       $12,332,500                  $5,319,100

            Fiscal Year 2017:                       $12,579,200                  $5,425,500

            Fiscal Year 2017                        $12,830,800                  $5,534,000

 

 

Office of Controller General                                                        (Amounts are shown in whole dollars)

April 30, 2015

MSJ:MSJ

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