01/06/2017 in: Education
By B. Jamison
On December 12, 2016, the Education Oversight Committee (EOC) adopted budget recommendations for the 2017-18 fiscal year. The programmatic and funding recommendations made are designed to continue last year’s support of educators and students while accelerating innovation in education. Based on statutory authority, the committee members annually make recommendations for the spending of Education Improvement Act (EIA) funds, which are generated by the penny sales tax. In November, the Board of Economic Advisors projected that the EIA will generate $791 million in total revenues in fiscal year 2017-18, an increase of $39 million over the current year’s EIA appropriation base.