In the typical last-day-of-the-session rush at the State House, the education funding formula moved through both houses this evening, according to televised sessions and reports on social media sites. The formula remains, in general outline, the same $8,295 (+ 40% for free and reduced price lunch) per student multiplied by the complicated state share ratio, and the amended bill can be downloaded here: H8094 substitute a.

If there is any good news for Portsmouth, it is that the bill does not take effect until the 2012 fiscal year (i.e., not the school budget currently being considered). And, in what might be considered a bit of sugar to help the medicine go down, the general assembly has increased the reimbursement amount for school construction from 30% to 40%, phased in over two years. Assuming we went to bond for $30M of school renovation, we would actually stand to gain more than the $2.6M we'll be losing through the formula.

But that is small consolation when looking at the $260K hole this formula will put in our operating budget, beginning a year from now.

I want to publicly thank Rep. Amy Rice, who offered several floor amendments attempting to ameliorate the damage to East Bay communities, including spreading the loss out over a greater number of years and giving towns the ability to exceed the cap to recover this lost revenue by a simple majority, rather than a supermajority vote. Rep. Ray Gallison also spoke from the floor on this bill, as did Rep. Jay Edwards, and Portsmouth should thank them all for their efforts, but unfortunately, given the lopsided House vote (60-14), this was not a fight they were going to win.

As a progressive, I should be celebrating the fact that we finally have a formula to help insure that state funds are distributed methodically. I wish I could celebrate.

If only the method were not so flawed, and the impact so dire for Portsmouth.