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Education Funding Overview

Education Funding Overview. Georgia Budget & Policy Institute Claire Suggs, Senior Education Policy Analyst May 9, 2014. Budget Overview | www.gbpi.org. Who We Are.

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Education Funding Overview

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  1. Education Funding Overview Georgia Budget & Policy Institute Claire Suggs, Senior Education Policy Analyst May 9, 2014 Budget Overview | www.gbpi.org

  2. Who We Are The Georgia Budget and Policy Institute produces research and state budget analysis to show ways Georgia can provide better education, health care and opportunity for everyone. Budget Overview | www.gbpi.org

  3. FY 2014 State General & Motor Fuel Funds Budget ($18.8 billion) State Funding • Since 2002 in Georgia: • State funding per student has declined 15.3 percent • The percent of economically disadvantaged • studentsclimbed from 45 to 60 percent. Other 27.6% Other 51.5% Education 51.5% Education

  4. Shifting responsibility for K-12 funding: Georgia SOURCE: Georgia Department of Education

  5. K-12 Formula Underfunded by $1 Billion in 2014

  6. FY 2014 State General & Motor Fuel Funds Budget ($18.8 billion) Local Funding Between 2008 and 2012: • Tax digest fell 17.3 percent between 2008 and 2012. • Local revenue per student fell by 5.8 percent. Other 27.6% Other 51.5% Education 51.5% Education

  7. FY 2014 State General & Motor Fuel Funds Budget ($18.8 billion) Impact of Funding Losses 71 percent of responding districts cut the school year 95 percent increased class size About 70 percent have eliminated instructional support positions Nearly 80 percent have cut central office staff 82 percent are using reserve funds this year Other 27.6% Other 51.5% Education 51.5% Education

  8. FY 2014 State General & Motor Fuel Funds Budget ($18.8 billion) Impact of Funding Losses Other 27.6% Other 51.5% Education 51.5% Education

  9. FY 2014 State General & Motor Fuel Funds Budget ($18.8 billion) FY 2015 Budget ($19.9 Billion)

  10. Revenue Sources

  11. Georgia Revenue by the Numbers 49thState tax revenue per person (2012) 46thState tax revenue as percentage of income (2012) 46thState and local tax revenue per capita (2011)

  12. Georgia’s Revenue at Historic LowRevenues as a Percentage of Income (FY 1989 – FY 2013) Georgia Revenue as a Percentage of Income at Historic Low 5.7% 2007 4.7% 2014 Revenues as a Percentage of Income Fiscal Years 1989 – 2014

  13. FY 2014 State General & Motor Fuel Funds Budget ($18.8 billion) Revenues Finally Surpass 2007 Levels General and Motor Fuel Funds 2007-2015 Fiscal Years

  14. FY 2014 State General & Motor Fuel Funds Budget ($18.8 billion) Per Capita Revenues Still below 2007 $2,011 $1,968 $1,944 $1,879 $1,831 $1,741 $1,742 $1,688 $1,566

  15. Budget Growth in FY 2015 ($928 Million) $314 Million $151 Million $173 Million $142 Million $51 Million $34 Million Partial Restoration K-12 Formula Cut 0 K-12 and University System Formula Growth 0 Medicaid and PeachCare Growth 0 Teacher and Employees Retirement 0 State Employee Salary Increase 0 Department of Justice Settlement Agreement 0

  16. Total QBE Funding FY 2015 ($514 Million) $480 Million $29 Million $5 Million QBE 0 QBE Local 5 Mill Share 0 QBE Equalization 0

  17. QBE Funding FY 2015 ($480 Million) $314 Million $100 Million $57 Million $9 Million Partial Restoration K-12 Formula Cut 0 Formula Growth (Enrollment and T&E) 0 Teacher Retirement System 0 Other 0

  18. K-12 Formula Underfunded by $750 Million in 2015

  19. Please sign up for our electronic email alerts on our website, like us on Facebook and follow us on Twitter. Claire Suggs, Senior Policy Analyst csuggs@gbpi.org www.gbpi.org Let’s Stay Connected www.facebook.com/gabudget @gabudget @clairevsuggs

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