NYC-WTC_000195490

NYC 9/11 Public Portal Document

BOARD OF EDUCATION

The New York City Board of Education provides primary and secondary education for over one million school age children. Through a network of more than 800 elementary, junior high and intermediate schools, more than 200 high schools, and 60 special education schools, the Board provides basic instructional services and offers students special and bilingual education, and vocational training. Support services include free and subsidized transportation, breakfast and lunch services, and the operation and maintenance of over 1,100 school facilities.

Financial Review

The Board of Education’s 2002 Operating Budget, which includes $80 million held in escrow for privatization, is $11,597.2 million, a $249.3 million or 2.2 percent Increase from the 2001 forecast. In addition, education- related pension and debt service costs of $713.7 million are budgeted in separate agencies. These additional costs include a pension increase of $69.3 from 2001 and a debt service decrease of $234.7 million because of pre­ payments in 2001. City funds excluding pensions and debt service will suppo^ $4,946.5 million of the Board of Education’s expense budget in 2002, an increase of $33.8 million, or 0.7 percent, from 2001, State funds will support $5,579.7 million or 45.6 percent of the education budget in 2002. This appropriation level is subject to change after the State budget is finalized. The balance of the education budget is supported by $1 ;051.5 million in Federal aid (down from $1,073.7 million in 2001), $7.4 million in intra-city funds and $15.3 million in other categorical funds. Including those funds budgeted centrally, total funds budgeted on behalf of the Board will incpase from $12,227.0 million in the 2001 forecast to $12,310.9 million in the 2002 Executive Budget. The Board’s share of the City’s overall budget will grow from 30.2 percent to 31.1 percent.

Total Board of Education Expenses* 1997-2002 ($ millions) 2002 Executive 1998 1999 2000 2001 Forecast Budget 1997-2002 Change______ Change Change Change Change from Change 1997 from from from from 2001 from Amount Amount 1997 Amount 1998 Amount 1999 Amount 2000 Amount Forecast 1997 Board Of Education .. $8,101 $8,911 $810 $9,626 $715 $10,756 $1,130 $11,348 $592 $11,512 $164 $3,411 Escrow Fund For j Privatization 0 0 0 0 0 0 0 0 0 85 85 85 Subtotal....... 8,101 8,911 810 9,626 715 10,756 1,130 11,348 592 11,597 249 3,496 Pension.......... ....... 313 379 66 406 27 101 (305) 453 352 523 70 210 Debt Service .. 1... 561 405 (156) 534 129 537 3 426 (111) 191 (235) (370) ' Labor Reserve as of ' Previous Plan .... 0 0 0 23 23 10 (13) 0 (10) 0 0 0 ; Total Expenditures .i $8,975 $9,695 $720 $10,589 $894 $11,404 $815 $12,227 $823 $1?,311 $84 $3,336 ' Funding : City ........................ 4,082 $4,479; $397 $5,025 $546 $5,334 $309 $5,789 $455 $5,658 ($131) $1,576 Other Categorical ... 38 40 2 34 (6) 68 34 27 (41) 15 (12) (23) State........ . 3,915 4,155 240 4,469 314 4,867 398 5,327 460 5,580 253 1,665 Federal .................... 933 1,014 81 1,054 40 1,128 74 1,074 (54) 1,051 (23) ; 118 Intra-City................ 7 7 0 7 0 7 0 10 3 7 (3); 0 * The amounts shown for 1997 through 2000 represent actual expenditures including pensions and debt service funds, as reported in the Comptroller’s year-end audited financial statements. The 2001 amounts represent the latest forecast as per the 2002 Executive Budget. ,

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