Under the governor's budget plan for Fiscal 2014, Marblehead, along with many other cities and towns, would get a sizeable bump in state aid. We're talking around 11.6 percent, in fact.
According to local aid budget documents available on the state's website, Marblehead is due to receive $6.33 million in total aid from the state by the close of Fiscal 2013 in June. The figures for FY14, however, total at $7.06 million.
The majority of the increase would be in education aid ($706,364). The Chapter 70 allotment is slated for a $934,770 increase, along with $364 for the school lunch offset, while charter tuition reimbursements decrease by $288,770.
General government aid would only increase by $29,553 -- the town would receive about $38,000 from an Annual Formula Local Aid (which is new to the budget) minus about $10,000 from a reduction in veterans benefits and some other small changes.
Gov. Patrick's budget proposal adds the abovementioned formula line item proportionately for cities and towns, factoring in income, property wealth and population. By contrast, Salem is slated to receive about $212,000.
Starting in Fiscal 2015, Patrick plans to place 25 percent of that aid in a reserve account for incentive-based aid to cities and towns, rewarding eligible municipalities for strong fiscal management, managing health care costs, etc.
Patrick has put forth an ambitious $34.8 billion budget proposal that would make significant investments in education and transportation by raising $1.9 billion in revenue, through a combination of tax hikes and eliminating some tax breaks.
Both the Mass. House and Senate will way in on the proposal in the coming months, each presenting their own budgets before coming to a joint resolution.