Newton Public Schools FY26 Digital Budget Book

General Fund revenue is derived from three sources: local property taxes, state and federal assistance, mainly in the form of education aid (Chapter 70), and local revenue. The Chapter 70 program is the major program of state aid to public elementary and secondary schools. In addition to providing state aid to support school operations, it also establishes minimum spending requirements for each school district and minimum requirements for each municipality's share of school costs . In Newton, Chapter 70 funds account for $28,656,534 or approximately 10% of the total FY25 school budget. Local property taxes are our primary funding source and accounted for $424.3 million or 81% of the total general fund revenue in FY24. With the reliance of local property taxes, the School Committee and School Administration are mindful in developing a budget that is fiscally responsible as indicated by the annual Budget Guidelines. The expenses charged to the General Fund are the core educational costs including administrator, teacher, and staff salaries; instructional materials; textbooks and library materials; special education; math and literacy support; transportation; and professional development. ● Special Revenue Funds are used to account for operating revenues that are legally restricted for expenditure for purposes specified in a grant / gift agreement; or in federal, state, or local law. Examples include the Community Preservation Funds, Water, Sewer and Stormwater Funds. Within the classification of Special Revenue Funds are revolving, grants, and gift funds which the Newton Public Schools track and monitor these separate and unique funds. ● Grant Funds are awarded in one of five methods: entitlement, allocation, continuation, other non-competitive and competitive processes and must be used for their stated purpose. There are three main sources of grant funds: Federal, State and Private. Examples of these funds include: ○ Federal: Title I, Title IIA, Title III, Title IV, Individuals with Disabilities Education Act (IDEA) ○ State: Metropolitan Council for Educational Opportunity (METCO), Circuit Breaker ○ Private: Newton Schools Foundation (NSF) ● Revolving Funds allow the district to operate programs or activities that generate fees, charges, or other receipts to support all or some of the expenses of those programs or activities. These revenues are used, without further appropriation, to support the service. There are several revolving funds including, but not limited to: ○ Food Services (sales and costs associated with providing healthy, nutritious meals for students) ○ Athletics (athletic fees and gate receipts used to offset the cost of the athletic program)

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