New York City Mayor Adams and Schools Chancellor David C. Banks announced additional flexibility of existing school funding for the upcoming school year.
This flexibility allows for schools to use $100 million in federal stimulus funds as well as simultaneously making an additional $50 million in funds available reserved for school budget appeals – with $34 million in school budget appeals being sent on Aug 3.
“As two former New York City public school students ourselves, Chancellor Banks and I know there is nothing more important than providing the children in our public schools the resources they need to learn, grow, and thrive,” said Mayor Adams during the Aug 3 announcement. “The truth is that the city is facing a 120,000 drop in student enrollment, which had clear budget implications since February when the preliminary budget was released. We always said we would meet the needs of our students, and after hearing from principals and other community leaders that they need additional time to adjust to the decline in enrollment, we are announcing greater flexibility in this year’s school budget by granting immediate access to existing academic recovery funding up to $100 million and immediately granting up to $50 million in the budget appeal process. To be clear, this is not new money but a reallocation of existing funds.”