The REC adopted a forecast that predicted $129 million more in revenue for finish up this year, and $155 million more available for the next. It appears part of the former amount ought to be spoken for, according to testimony given by Education Superintendent John White, stemming from the recent court decision that invalidated the funding mechanism for the state’s scholarship voucher program.
As part of that, the state’s Supreme Court also redefined that legislative instrument responsible for funding the state’s Minimum Foundation Program, calling it really like a law despite its legal designation as a resolution. The MFP is a formula created by the Board of Elementary and Secondary Education, which employs White, to direct state funding to school district operating expenses and must be accepted or rejected by the Legislature by concurrent resolution prior to the end of a regular session. If rejected, the previous year’s formula remains in place.