New York City schools stand to lose nearly $350 million under Gov. Kathy Hochul’s proposed update to the state’s school funding formula, schools Chancellor Melissa Aviles-Ramos said Wednesday at a budget hearing in Albany.
“There is no question that the Foundation Aid formula needs a revamp,” Aviles-Ramos said. “But the governor’s proposed changes to the formula would actually result in nearly $350 million fewer dollars to New York City public schools than we’d be entitled to under the current formula, disproportionately impacting our system compared to many other districts.”
