Staff Recommendations for FY 2003

These staff recommendations are for consideration in the issuance of an Education Funding Advisory Board interim report to the General Assembly for FY 2003 General State Aid issues.

Recommendations:

1. 105 ILCS 5/18-8.05(B) The recommendation for the FY 2003 foundation level is $4,680. This recommendation was derived by increasing the FY 2002 level of $4,560 by 2.6%, the most recent CPI estimate for FY 2001.
2. 105 ILCS 5/18-8.05(H) It is anticipated that a poverty measure from the Department of Human Services will be available for review by mid-December. A recommendation for the FY 2003 poverty measure and allocation formula will be forthcoming shortly after that review is completed.
3. 105 ILCS 5/18-8.05(J) It is recommended that the General State Aid Hold Harmless should continue in its present form through FY 2003.
4. 105 ILCS 235/15 The continuing appropriation for General State Aid and Hold Harmless should be continued through FY2003.