Fully Funding the EBF: Volume XII
Volume XII of the Fully Funding the EBF series continues CTBA’s modeling of fully funding the EBF to 90% of Adequacy, updated with the Governor's FY 2027 Proposed budget. The Report looks at four different funding scenarios and explains fluctuations in local revenue for districts in the past few years. The analysis includes the full funding model based on the current minimum increase of $300 million annually both with and without considering inflation, and if the state were to up the funding to $500 million annually. Lastly, it projects the annual amount to fund the EBF by FY 2027 as the statute requires. Succeeding in making the statutory requirement of full funding by FY 2027 is impossible under the current proposed budget—the proposal would appropriate just $305 million into the EBF formula in FY 2027, where an Adequacy Gap of over $3 billion exists statewide.