Posted Date: 03/21/2023
The Economic Estimates Commission has released "Calculation for Preliminary Aggregate Expenditure Limitation for School Districts" for next school year. The number for next year is $6,897,443,997. This is an increase of $495,108,631 from this year's limit of $6,402,335,366. This is good news. The bad news is that for this year, budgeted expenditures by school districts counting against the AEL were $7,788,145,008. This would mean that without any increase in school district budgets for next year, district budgets would exceed the FY 2024 AEL limit by $890,701,011. Increases in school district budgets, which will be needed, will easily put school budgets significantly over the AEL again next year.