The final education budget for the fiscal year that begins Oct 1, 2014. A separate House budget authorizes the rest of state government spending (House Bill 5313).<br> This bill would authorize $13.870 billion for K-12 public schools, a $509 million increase. It also appropriates $1.516 billion for state universities, compared to $1.430 billion the prior year; and $364 million for community colleges, up from $335 million.<br>The bill increases per-student "foundation allowances" for higher-spending K-12 school districts by $50, and $125 for lower spending ones. However, distributions to school districts are understated by around $400 per student compared to pre-2012 budgets, because the state is now depositing a portion of their pension costs directly into the system (rather than the previous practice of sending it all to the districts to deposit). Reportedly, the gap between funding at the highest and lowest spending districts has decreased to $848, compared to around $2,300 when the Proposal A school finance overhaul was approved in 1994.
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