REPORT: IBO’s analysis of the Mayor’s Executive Budget for 2015 includes our latest economic forecast and tax revenue projections for the city as well as estimates of spending under the Mayor’s plan. We incorporate the revised financial plan, issued just yesterday afternoon by the de Blasio Administration, in presenting our estimates of budget gaps and surpluses. The report also includes our most current projections for local job growth: http://bit.ly/1kaP0v4.If rent for three of Eva’s charter schools will cost $5.4 M per year, can you imagine the hundreds of millions of dollars in future costs to the city and state as every existing co-located, new or expanded charter can demand free facilities and/or rent?... Leonie Haimson
Excerpt: State funding for charter schools in New York City, which flows through the education department’s budget, is increasing by $77 million. Some of the additional city-generated funding is being used to expand arts education ($23million) and to pay the rental costs for three charter schools as required under new state legislation ($5.4 million). The new state charter school funding is a supplement to the city’s current share of spending for charter schools, which IBO estimates is $1.1 billion this year.
