Fully Funding the EBF: Volume III

Fully Funding the Evidence-Based Formula: FY 2022 Proposed General Fund Budget Update


March 16, 2021

In the FY 2022 General Fund budget proposal the Governor announced in February, K-12 funding under the Evidence-Based Funding formula (EBF) is once again held level with FY 2020, in nominal, non-inflation adjusted dollars. While that is certainly better than being cut from FY 2020 levels in nominal dollars, it represents a step backward. That is because, after accounting for inflation, K-12 funding under the FY 2022 proposed General Fund budget is $434 million, or 4.9 percent less in real terms than it was in FY 2020.  

By not providing additional new funding for the EBF, the state is extending the time it would take to fully fund the EBF by two years – if the state continues to put in a minimum of $300 million yearly beginning in FY 2023. That two year extension would mean extending the timeline to more than four times longer than what is required by statute. 

This update is the third installment in the Fully Funding the EBF Series.

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Topics:Tax and Budget, Illinois Budget, Education

Tags:K-12 Education, EBF, Illinois Budget