New York State budget tweaks Foundation Aid formula

State budget is mixed bag for social services

As Washington has gutted federal support for a wide array of social services, New York state’s budget has seemingly moved forward in a vacuum.

New York State budget tweaks Foundation Aid formula

ALBANY, N.Y. (NEXSTAR) — New York State's enacted budget boosts school aid statewide, altering the foundation aid formula that allocates money to districts. It sets a new record at $37.6 billion for K–12 public schools in fiscal year 2025—about $14,000 per pupil—representing an increase of $1.7 billion over fiscal year 2024. Foundation Aid—the main state funding program—is $26.4 billion, up $1.4 billion over last year. That formula covers expens…

Hochul criticized over $254B policy-laden budget

(The Center Square) — Gov. Kathy Hochul and New York's Democratic legislative leaders are being criticized for muscling through a $254 billion late state budget packed with controversial policy items that dramatically increases state spending.

New York state budget creates Office of Gun Violence Prevention

ALBANY, N.Y. (NEXSTAR) — The enacted state budget for fiscal year 2025 creates a formal New York State Office of Gun Violence Prevention to consolidate gun control efforts. OGVP will be part of the Division of Criminal Justice Services, the agency that oversees law-enforcement training and data collection. Get the latest news, weather, sports and entertainment delivered right to your inbox! OGVP “will direct the coordination of state, loca…

$254 Billion NYS Budget Passed

The New York state budget has finally passed. State lawmakers wrapped up voting on the $254 billion state spending plan late Thursday night. In a series of nine bills, the state legislature and Gov…

NYSTRS scouts for directors of private equity, private debt

The New York State Teachers’ Retirement System, steward of about $145 billion in assets, has opened a search for both a director of private equity and a director of private debt, Private Equity Car…