February 1, 2011

Continue Freeze of Foundation Aid Formula—Extend full phase-in to 2016-2017

Implement GEA GEA + Loss of ARRA=2.9% of School

Budgets Statewide GEA based on wealth, student need,

administrative efficiency, and residential property tax burden

Building Early Childhood Transportation High Cost

Total Reduction--$751,414 -13.52%

ARRA -$317,184 (used by Chatham for 1 time expenses)

Federal Jobs Bill -$265,481 (allocated in 2010-2011, spend in 2011-2012)

Creation of Mandate Relief Redesign Team

Will Report to Governor on March 1

Performance Improvement Awards

Management Efficiency Awards

$250 million each

Introduced by Senate

2% or CPI (currently 1.65%)

Language is the key item to be determined.