enforcing the parking restrictions again. As such, the city expects FY2025 parking meter revenues to total $1.0 million and have included a projection of $1.1 million in the FY2026 budget. Enforcement of parking policies has a direct correlation with revenues from Parking Violations. Therefore, the city have slightly increased our FY26 budget, to $1.05M. State Education Aid - Chapter 70 Chapter 70 State Education Aid is the largest source of financial aid from the State that the City of Newton receives. The Student Opportunity Act, signed in 2019, introduced the most significant statewide update to the education funding formula since its inception in 1993. The bill, passed before COVID-19, is intended to infuse an additional $1.5 billion annually into the state’s education aid, as well as to increase funding to school districts for transportation, school construction and renovation, and special education. The bulk of the new funding has been directed to school districts with the highest concentrations of low-income students, thereby aiming to close achievement gaps and provide opportunity for all students in the Commonwealth. The additional financial support for the Newton Public Schools has been modest, increasing less than the rising costs of NPS and less than the growth in Newton’s revenues. Governor Maura Healey’s FY2026 budget has proposed an increase of 3.04 percent. In dollar terms, this is a total of $29,528,784 in Chapter 70 State Education Aid for the City of Newton, an increase of $871,850 over the final approved FY2025 grant of $28,656,934.
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