New York City gives details on $16.9 billion school budget

New York City Schools Chancellor Joel I. Klein has released next year’s budgets for more than 1,400 public schools. It uses a new financing system that will drive far more money to schools serving low-achieving students, children from low-income families and those who speak limited English. The new budget system, a component of Mayor Michael R. Bloomberg’s effort to revamp the nation’s largest school system, ties $5.3 billion of the city’s $16.9 billion schools budget to individual students, allotting a fixed amount per child and extra dollars based on particular needs.

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