Table 7 - Raising the Cap on the Growth Factor
Impact Upon FY02 "Statutory" Chapter 70*
Current Cap: Mrgf is limited to the annual percent change in Chapter 70
State total FY01 2,990,396,788
State total FY02 3,158,904,460
Pct Increase 5.63
139 communities are capped
8 of them have uncapped factors greater than 10 percent
BERKLEY                       10.49%
GRANVILLE                     14.17%
NANTUCKET                     12.40%
PETERSHAM                     10.34%
SAVOY                         13.93%
SUNDERLAND                    19.01%
WENDELL                       17.90%
WINCHENDON                    10.01%
If Cap Were Set at 1.5 times the state average mrgf
State average mrgf = 5.04
State cap = 1.5 x 5.04 = 7.56
37 communities are capped at 7.56
Contribution at 5.63 cap 4,001,257,828
Contribution at 7.56 cap 4,010,388,348
Increase due to raising the cap 9,130,520
* The "statutory" run makes several assumptions that are guided by recent years' budget
   decisions.   Foundation budget: the wage factor is raised halfway up to 100 percent,
   for any community where the unadjusted factor falls below 100 percent. 
   Chapter 70: Minimum aid is set a $150 per pupil, and FY01 supplementary aid
   is not built into base aid.