New funding model a boost for public schools
Public schools will receive an additional $100 million following the implementation by the NSW Government of a new funding model.
The Resource Allocation Model (RAM) will distribute public school funding more fairly and transparently, with student and school needs being the key determinants.
The funding provided to schools will reflect the characteristics of individual schools and their students.
The Resource Allocation Model uses a combination of base funding and loadings.
The base component covers the cost of educating each student and operating a school. This base is then supplemented by a series of loadings for student- and school-based sources of disadvantage.
There will be a phased implementation of the RAM in all NSW public schools. This will commence with the equity loadings and targeted (individual student) RAM components in 2014.
$300 million will be distributed across all public schools on the two new loadings for socio-economic and Aboriginal backgrounds. $100 million of this is additional funding, made possible by the Gonski Agreement.
The Minister for Education Adrian Piccoli said: "The new funding model will put principals' and school communities' close knowledge of their students' needs at the heart of school decision-making, the central aim of the Local Schools, Local Decisions reforms.