148th
GENERAL ASSEMBLY
FISCAL
NOTE
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sponsor: Representative
Heffernan DESCRIPTION: AN ACT TO AMEND TITLE 14 OF THE DELAWARE CODE RELATING TO
THE CREATION OF A UNIT FOR LOW-INCOME STUDENTS.
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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
0271480011