#of Student 15,300 – Foundation Budget – $177,537,954 – City Min. Contribution $43,013,441 – Chapt.70 $135,511,265
We know that using the State formula Lowell had to spend $178,524,706 in its Total Net School Spending requirement for 2015/2016 and is on pace to exceed that.
We also know that the “Operating Budget” for the School Dept for the 2015/2026 year reads – personal / non-personal $155,508,389.
What many don’t know / realize is over and above that amount Lowell receives conservatively between Thirteen and Sixteen Million dollars in grant money for Lowell School Programs. (The final awards vary, but lately have been running $15-$16 million annually according to people familiar with the grant programs)
According to the 2015/2016 Lowell School Dept Budget book, here is where the grant money is used and it also explains how Lowell lost some previous existing grants.
Since these are grants and considered one time monies it doesn’t count towards Net School Spending requirements but it shows that the Operating budget for education in Lowell is closer to $175-$180 million.