NYC education panel approves school funding formula after last month’s rejection
Following a stunning rejection last month, New York City’s education panel approved Wednesday the city’s school funding formula for next year, as Schools Chancellor David Banks promised to create a group that will review the 15-year-old formula.
The commitment from the city followed concerns from some panel members and public school advocates who want the current funding formula to provide more support for additional groups of high-needs students, such as students living in temporary housing.
The panel voted 12-1, with an additional abstention, to approve the formula, known as Fair Student Funding. The 15th member, a Staten Island borough appointee, quit last month. Chancellor David Banks said he, too, supports a more equitable formula, calling it a “horrible and ridiculous” situation that he inherited from previous administrations. He said he would put in writing his commitment to a working group.
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