The state provides aid under a number of categories, but by far the most important and material bucket is Foundation Aid. The state’s allocations of Foundation Aid ($21.3 billion in 2022-2023) to school districts is intended to ensure that all districts in the state have the necessary resources to ensure all students receive a “sound basic education” as required by the state constitution. The formula for calculating Foundation Aid is overly complex; however, what is important to note that the two primary drivers of the differences in aid received amongst schools are:
- Expected Minimum Local Contribution (i.e., the relative wealth of the community), based on a computed tax rate or local share formula that utilizes an income wealth index and a local tax factor.
- Total Aidable Foundation Pupil Units (i.e., enrollment).
In short, the higher the income wealth index the lower the proportional share of the Foundation Aid pot. Conversely, the lower the enrollment, the lower the proportional share of the Foundation Aid pot. Edgemont has a high income wealth index and a mid to low enrollment total. As a result, we receive less aid than neighboring districts who rate differently on these metrics.
The good news is, that over the past ten years, we’ve seen an increase in the percentage of our revenue budget stemming from state aid. Namely, an increase from 6% of the budget in 2014-15 to 12% of the budget in the current year. This is most closely attributed to the state’s commitment to fully fund districts based on the approved Foundation Aid formula. As a result, we have seen a 56% increase in our Foundation Aid allocations in two years. This will be the last significant increase as we are now “fully funded.” Moving forward, we expect more modest increases based on economic growth factors.
| Year | Budget | Foundation Aid | Total State Aid | Aid as % of Budget |
| 2024 | $ 69,374,373 | $ 4,869,652 | $ 8,076,495 | 12% |
| 2023 | $ 67,026,024 | $ 3,541,218 | $ 6,587,323 | 10% |
| 2022 | $ 65,251,389 | $ 2,546,644 | $ 5,163,310 | 8% |
| 2021 | $ 63,616,332 | $ 2,103,877 | $ 4,563,118 | 7% |
| 2020 | $ 61,048,737 | $ 2,104,103 | $ 4,378,532 | 7% |
| 2019 | $ 59,129,371 | $ 2,078,729 | $ 4,571,279 | 8% |
| 2018 | $ 57,092,835 | $ 2,028,138 | $ 4,479,340 | 8% |
| 2017 | $ 55,512,470 | $ 1,960,263 | $ 4,059,081 | 7% |
| 2016 | $ 54,104,349 | $ 1,960,259 | $ 3,669,817 | 7% |
| 2015 | $ 53,149,102 | $ 1,944,439 | $ 3,354,471 | 6% |
Neighboring districts like Ardsley, White Plains, Hastings, and Elmsford receive between 14% and 17.2% of their budget from State Aid. Every dollar counts!
http://WWW.EDGEMONTSCHOOLFOUNDATION.ORG/DONATE
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