Source: Herald & Review
Illinois’ new evidence-based school funding model is effectively driving added funding to the state’s neediest school districts, but the state must double its annual added investment in the formula if districts are to reach funding adequacy in a timely manner, according to a report released Wednesday by the bipartisan Center for Tax and Budget Accountability. For the state to make up a $7.35 billion education funding shortfall and meet adequacy levels within 10 years as specified in the legislation, CTBA President Ralph Martire said, the actual annual funding increase would have to be closer to $779 million.