Governor Sean Parnell announced today he will sign legislation that provides additional funding for increased costs of K-12 education.
"I understand the pressure on school district budgets," Governor Parnell said. "I supported legislation to address specific costs, including pupil transportation and vocational education. School districts will receive more than $50 million in additional funding to deliver quality education to Alaska's students."
K-12 Education Funding Increases
Vocational Education: $5.9 million
Pupil Transportation: $19.7 million
One-time funding based on student enrollment: $25.0 million
The state is also directly funding $329.6 million for the school district retirement system unfunded liability for the Public Employees' and Teachers' Retirement Systems (PERS and TRS).
The legislation also reduces the required local contribution for municipal school districts and increases the state contribution by $21.3 million representing relief for many local taxpayers.
The total state-funded K-12 education and pupil transportation budget for FY 2013 is $1.2 billion.
Review of the appropriation bills, HB 284, HB 285, and SB 160, is still in progress, along with SB 182, which provides for pupil transportation. Governor Parnell is expected to sign these bills before the end of May.