Review of the Financial Plan of the City of New York

Over the past decade, City funding for education has more than doubled, rising from $6.2 billion in FY 2003 to $13.2 billion in FY 2013.

The May Plan assumes that the Department of Education (DOE) will reduce planned spending by a total of $1.2 billion during the financial plan period. This represents 40 percent of the total value of the agency program, which is greater than the DOE’s share of the City-funded budget. The majority of the savings would come from re-estimates of the cost of special education ($672 million) and from non-classroom efficiencies ($368 million). The DOE also intends to raise the price of school lunches by $1.00 for students whose families’ incomes exceed 185 percent of the poverty level.