State Funds for Malden
As said in the video above, the City of Malden's annual budget funds services that are necessary to the residents of Malden such as schools, police, libraries, firefighters, roads, and other programs. To meet the budget, money from various programs is added together. Malden's money comes from sources of revenue such as local property taxes, state aid, local receipts ( fees for permits, motor vehicle excise taxes, etc.), and other sources.
This video relies on information for FY2015 but here is the most recent adopted budget for the FY2022.
Educational State Aid
One of the legislature's goals is to provide the necessary funding for K-12 schools. The Chapter 70 education aid formula is used to determine how much aid each district actually needs to meet these standards.
Charter School Tuition Reimbursements
There are two types of state aid that help public school districts cover the tuition and costs for students attending Commonwealth Charter Schools: Chapter 46 and facilities aid.
Cities can use UGGA to fund any services in their budgets that need additional revenue in order to run. Examples include recreation departments, school funding, libraries, and any other type of city spending.
Special Education Circuit Breaker
Public school districts are required to provide an adequate education for all students, including students with disabilities. When a student's needs are not met, the state's special education circuit breaker program partially reimburses schools for sending students to a specialized institution.
Please note that budgets go through several phases (proposed by mayor, approved by council, vetoes by mayor, etc.), so many adopted budgets (budgets that have received final approval) are slightly different than the budget that has been closed out at the end of the year. For this video, we used the city's adopted budget.
Below you'll find explanations of key components of the budget, with links to additional information for further understanding. Please do not hesitate to contact me or my office at (617) 722-8880 if you'd like more information about the budget.
I also want to thank my interns, staff, and City Controller Chuck Ranaghan for their help in making this video come to fruition.