Illinois Budget

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

Release: 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.

Fully Funding the Evidence-Based Formula: Volume VIII

Release: October 9, 2023

Volume VIII of the Fully Funding the EBF series continues CTBA’s modeling of fully funding the EBF to 90% of Adequacy, which aligns with the Illinois State Board of Education’s methodology. Volume VIII uses the new tier funding and the calculated shortfall based on the ISBE EBF calculated shortfall for FY 2024 (released in August 2023) as well as references Illinois Department of Revenue Corporate Personal Property Replacement Tax from FY 2019-FY2023.

Fully Funding the Evidence-Based Formula: FY 2024 Proposed General Fund Budget

Release: May 3, 2023

Volume VII of the Fully Funding the EBF series continues CTBA’s modeling of fully funding the EBF to 90% of Adequacy, which aligns more closely with the Illinois State Board of Education’s methodology. Volume VII uses the propsed Fiscal Year 2024 General Fund Budget appropriations for the Evidence-Based Funding formula, but uses a projected shortfall (similar to that of Volume V), based on the ISBE EBF calculated shortfall for FY 2023 (released in August 2022).

Fully Funding the Evidence-Based Formula: Volume VI

Release: October 1, 2022

Volume VI of the Fully Funding the EBF series continues CTBA’s modeling of fully funding the EBF to 90% of Adequacy, which aligns more closely with the Illinois State Board of Education’s methodology. Volume VI uses the Enacted Fiscal Year 2023 General Fund Budget appropriations for the Evidence-Based Funding formula found in Volume V, but applies the ISBE EBF calculated shortfall for FY 2023 (released in August 2022), rather than a projected shortfall as provided in Volume V. The new release maintains the four scenarios found in the Fully Funding the EBF series Volume V.

Fully Funding the Evidence-Based Formula: Volume V

Release: June 20, 2022

Volume V of the Fully Funding the EBF series keeps adjustments to CTBA’s model to align more closely with the Illinois State Board of Education’s methodology and reporting but based on the Enacted Fiscal Year 2023 General Fund Budget appropriations for the Evidence-Based Funding formula. This change is made to the overall Adequacy Gap funding level (changes from 100% to 90% to accommodate for Federal funding). This change in methodology is applied in the same manner as it was for the four scenarios found in the Fully Funding the EBF series Volume V.

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