SED is required to submit its rate methodology recommendations to the NY State Division of Budget. We have attached the proposed methodology letters for the 2017/18 year. SED has proposed a 4.85% increase for preschool (inclusive of evaluations) and a 5.2% growth factor for school age 853 schools. As the SEIT rates are still phasing in to the regional average rate, that will be in effect for the 2018/19 year, there was no increase recommended for SEIT for 2017/18.
In addition to the trend factors proposed, SED also recommended $8 million for teacher turnover and retention to help programs increase the salaries being paid to teachers in an effort to become more competitive.
Please remember that these are proposed rates, with no finalization until approved by the Division of Budget.
Kenneth R. Cerini, CPA, CFP, FABFA
Ken is the Managing Partner of Cerini & Associates, LLP and is the executive responsible for the administration of our not-for-profit and educational provider practice groups. In addition to his extensive audit experience, Ken has been directly involved in providing consulting services for nonprofits and educational facilities of all sizes throughout New York State in such areas as cost reporting, financial analysis, Medicaid compliance, government audit representation, rate maximization, board training, budgeting and forecasting, and more.