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Very Early to Predict FY22 Mid-Term Funding Factor By Derald Glover, OASA Assistant Executive Director An early estimate of what the state funding factor maybe be at mid-term this year. Facts: XXThe FY22 initial state aid factor
is $3,517.17 per weighted average daily membership (WADM). An increase of $126 over the final FY21 allocation.
XXThe state appropriated
$2,437,246,699 to the funding formula in FY22, which was an increase of $136.2 million over FY21.
XXThe state held out $7.6 million
for the Lindsey Nicole Henry Scholarship, $965,814 for two new charter schools, and $48,744,934 (2%) for the midterm adjustment.
XXThe high year WADM (based on
FY20 and FY21) to start the year is 1,196,319 which is 37,000 higher than the FY21 initial WADM and 18,000 lower than the end of the year FY21 count.* * If HB2078 were already in effect and funding was based upon FY21 WADM only, the WADM would be 1,124,837.
Variables that will affect the mid-term Factor estimate: XX The growth of WADM at mid-term: ■■ Last
year saw an unprecedented growth of 55,000 WADM due to students transferring to statewide virtual schools.*
■■ Indications
are that many of those students are returning to their community schools. Until we know that number, it will be very difficult to make an accurate prediction.
■■ Before
COVID, the average mid-term WADM increase over the previous 5 years was approximately 23,000 WADM which included increasing charter weights from 1.331 to actual weight (which is no longer a factor). At this time, an increase of 30,000 is estimated.
* Something to watch! Last year a new law was passed that allowed statewide virtual schools to be funded on the previous two high years as with all schools. However, if a virtual school’s WADM drops 15% at mid-term, that school will be funded on that mid-term figure and not the high year. The Statewide Virtual Board stated in their last meeting that EPIC One on One was starting FY22 with 5,000 less students than they started FY21. Their high year count was 33,000 students. 15% of 33,000 is 4,950. If EPIC’s funding is adjusted from their high year to current year, that will help offset the growth of the transfer students and infuse money in the formula.
