How Patrick's Budget Proposal Affects Stoneham's Local Aid
Stoneham would receive a net $416,529 increase in state aid, mostly in the form of Chapter 70 education funding, under Gov. Deval Patrick's proposed fiscal 2014 budget.
Last Wednesday, Gov. Deval Patrick submitted his $34.8 billion budget to the Legislature. The ambitious proposal for the coming fiscal year would make significant investments in education and transportation by raising $1.9 billion in revenue, through a combination of tax increases and eliminating some tax breaks. On the local aid front, Stoneham would receive a net increase (accounting for assessments the town pays to the state) of $416,529, mostly in the form of an increase in Chapter 70 education funding. State Rep. Jason Lewis, who represents Stoneham, has filed legislation that would update and reform the Chapter 70 formula, which determines how much money each school district receives annually in state funding, and to help …
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