Wellesley Public Schools: Fiscal Year 2026 Budget
INFORMATIONAL SECTION
The Informational Section of the budget is designed to provide the reader a broader context of the Town of Wellesley and Wellesley Public Schools. This section will review Wellesley’s taxation structure in relation to the property valuations; examine enrollment trends and forecasts; compare financial data with neighboring communities; and highlight student achievement data. Summary Information In November 2019, the Massachusetts State Legislature passed an Act Relative to Educational Opportunity for Students, commonly known as the Student Opportunity Act (SOA). The SOA makes significant changes to the Chapter 70 formula, previously updated in 1993 through the passage of the Education Reform Act. The SOA establishes new, higher foundation budget rates in five areas: benefits and fixed charges, guidance and psychological services, special education out of district tuition, English learners, and low-income students, all to be phased in over a seven-year period (FY’22-FY’29). The SOA requires 75% of the total state obligation to be funded in the first year (FY’22), 90% in the second (FY’23), and 100% in subsequent years. The $151.7 million appropriation is expected to meet the 75% requirement when tuition assessments are updated to reflect actual enrollments and district spending levels. The state was able to meet the FY’25 financial obligation. Wellesley Public Schools relies heavily on local property taxes to fund the school system. As the foundation budget has increased, the required net school spending, or local contribution, has also increased. The required net school spending is the minimum amount a community can allocate to the schools. As the chart below indicates 1 , Wellesley receives little Chapter 70 (state educational aid) Aid while spending more than the required levels (net school spending).
1 Source: Massachusetts Department of Elementary and Secondary Education web site.
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