Kentucky School Advocate
January 2024
Staff report
Gov. Andy Beshear unveiled his proposed two-year state budget on Dec. 18, 15 days before the 2024 legislative session.
The $136.6 billion spending plan would add more than $2.5 billion to public education, including an 11% across-the-board raise for school employees and an 11% increase in the minimum teacher salary.
Beshear is seeking an additional $1.1 billion over two years to pay for the school district employee raises. The governor’s office said the new funding would improve starting pay for teachers from 44th to 24th in the country.
“The allocations to school districts are within the SEEK budget, but they are not allocated through the SEEK formula funding – which guarantees enough money for every school district,” the budget booklet states.
Beshear’s budget would increase the base SEEK formula 4% – a $240.6 million infusion. The base funding per pupil provided through SEEK in fiscal year 2024 is $4,200.
Beshear’s budget would also increase SEEK funding for school transportation with $124.4 million annually to fully fund district transportation costs, which is required by state law but has not been fully funded since 2004. The plan also proposes to use $125 million in unspent SEEK funds this year to add to this year’s transportation funding.
Beshear’s P-12 education proposals also include:
• $344 million over two years to fund universal preschool for all 4-year-old, which could allow 34,000 new 4-year-olds, to attend preschool.
• $427.1 million over two years to fund pension and retiree medical benefits for teachers; $284.6 million over two years would cover any health insurance premium increases.
• $150 million for a fund pool to cover cost overruns for local school district construction projects.
• $49.3 million to establish three new student loan forgiveness programs to address worker shortages of “public service areas” such as teachers and more.
• An additional $43.1 million in fiscal year 2025 and $12.8 million in 2026 for nickel tax equalization.
• $12.4 million each year for professional development, $17 million each year for textbooks or instructional resources and $2 million each year for early literacy.