Net State Aid Continues to Decline for Boston
The recently released final Cherry Sheet state aid estimates project an additional $1.2M in net state aid revenue for the City’s $2.9B FY16 operational budget. That will help the City, but the state budget continues a pattern of local aid growth for Boston being outpaced by growing state assessments, which reduces available revenue for the City. Over the past ten years, Boston’s state aid, net of teacher pension payments, has decreased by $41.4M or 8.9%, while state assessments increased by $120.6M or 105.4%. The result has been a decline of net state aid (revenue less assessments) available for operations of $161.9M or 46.2%. (continued . . .)
