Reports

Fully Funding the Evidence-Based Formula: FY 2025 Proposed General Fund Budget

Fully Funding the EBF: Volume IX

RELEASED: 

May 14, 2024

Volume IX of the Fully Funding the EBF series continues CTBA’s modeling of fully funding the EBF to 90% of Adequacy. Volume IX uses the proposed Fiscal Year 2025 General Fund Budget appropriations for the Evidence-Based Funding formula, but uses a projected shortfall based on the ISBE EBF calculated shortfall for FY 2024 (released in August of 2023). The new release maintains the four scenarios, including the full funding model based on an increase of $500 million annually using Scenario 2: Funding the EBF on a Fully Inflation-Adjusted Basis, By Making a Nominal Minimum Target Level Increase Annually.

Topics:Illinois Budget, Education, PreK-12 Education

Tags:Illinois General Fund Budget, K-12 Education, EBF

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