State leaders look to revamp New York's Foundation Aid formula

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Leaders across the state are examining ways to revamp New York's Foundation Aid formula to ensure all schools receive proper funding.

The funding comes from the state's Foundation Aid formula.

It's a controversial process that distributes aid to almost 700 districts across the state based on a region's wealth and demographics.

The formula hasn't been updated in over a decade, which means it can't keep up with growing enrollment. Leaders say it doesn't help districts with growing enrollment and poverty rates.

"We're using old standards, we need to update them and make them a robust and flexible way of determining student needs, and begin the process of working that way," said state Sen. Shelley Mayer.

Last year, the Ossining School District faced a $4.5 million budget gap. It has seen an increase of 1,000 students over a 10-year period.

In last year's Yonkers budget, the district needed to eliminate a $60 million deficit -- money that would come from the state's Foundation Aid formula.

Superintendents and stakeholders across the state began the process of fixing the formula Wednesday.

Mayer is holding five roundtables and a public hearing on the matter. They will end by the budget proposal in January.

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