Citizens Budget Commission’s Post

3 problems in allocating school aid in NY: ▪ Formulas & provisions inhibit aid from going where need is greatest ▪ Local contribution undercounts what districts can & do raise ▪ Outdated poverty & cost factors miscalculate needs & costs Our recommendations: https://lnkd.in/eJJDjD3m

“I want to emphasize that school aid reform is important not only to meet educational goals and the constitutional commitment [in New York to a basic education], but also to the state’s fiscal future.” — Andrew Rein, President, Citizens Budget Commission. https://lnkd.in/ecJGXz5h

CBC’s new report, Sustainably Supporting a Sound Basic Education, identifies shortcomings in, and makes recommendations for, allocation of NYS school aid https://bit.ly/4eXmdtn

School aid should direct resources where needed to fulfill the Constitutional promise of a sound basic education, while considering equity and each district’s ability, willingness and obligation to raise local resources.  30% of the State’s Operating Funds go to school districts across NYS—nearly $39B this year. Spending this better is not just about reforming Foundation Aid (65% of state education funding), but also expense-based aids (27%) and the STAR program (9%).   https://lnkd.in/eJJDjD3m

The housing undersupply in NYC affects the regional and national economy. Studies find that housing underproduction in superstar cities like NY reduce GDP by 2%. Building more housing would grow the City’s economy and significantly boost City tax revenue. Read more: http://bit.ly/4eRB2Ob

Straight from New Yorkers: Staten Islanders generally like where they live. 58.2% of them rated their “neighborhood as a place to live” as Excellent or Good—the highest among the five boroughs, but lower than in the past. More: https://lnkd.in/ehVmxGbC

Over 50% of NYers positively rate fire protection & household garbage pickup. But only 30% rate quality of life excellent/good, down from 50% in 2017. What’s the Administration’s take on CBC's survey? NYC First Deputy Mayor Sheena Wright on What's The [DATA] Point: https://lnkd.in/efsV7UZK

Our updated recommendations to the Charter Revision Commission: · Strengthen legislative Fiscal Impact Statements · Improve accuracy of Financial Plan estimates · Require a statistically valid resident feedback survey · Create Rainy Day Fund deposit, withdrawal, and target size rules · Cap Debt Service at 15% of tax revenues Details: https://lnkd.in/e6MF2CUR

The solution to NYC's housing crisis is clear: Build more housing. What this requires: https://t.co/ovLwxlCcgV