Press Release
CBC News
CBC Releases "Fiscal Year 2024 Executive Budget: NYC Department of Education Overview"
May 22, 2023
CBC's new Fiscal Year 2024 Executive Budget: NYC Department of Education Overview chartbook shows:
- The DOE’s total fiscal year 2024 budget is $37.5 billion;
- The fiscal year 2024 budget is nearly $500 million below the current projection for fiscal year 2023—$300 million less federal pandemic aid and $300 million less City funds, offset by $100 million more State aid;
- In fiscal year 2024, K-12 DOE school spending is budgeted at nearly $37,500 per student;
- The fiscal year 2024 budget for Carter Cases and contract schools is likely $400 million less than needed; and
- The latest DOE Program to Eliminate the Gap (PEG) will not affect services; 94 percent of the savings are from re-estimate of fringe benefits, which still are budgeted to increase 10.9 percent in fiscal year 2024.