Governor Bruce Rauner signed into law SB 1947 on Thursday, August 31, 2017. This law supports a new funding formula for Illinois public schools to make state funding more equitable throughout the state. Details of the calculations are still being reviewed and we may not have final amounts for a few months.
Reports state that no school will lose money under this new law. The Illinois State Board of Education (ISBE) and the State Comptroller expect school districts to begin receiving General State Aid (GSA) and categorical payments as early as next week. Currently, Central 301 receives approximately $700,000 for categorical payments quarterly and $514,800 monthly for GSA payments.