Providence, R.I. – Governor Don Carcieri has signed into law a bill that creates a funding formula for the state's schools. The legislation signed Wednesday was a key step to improve the state's chances of securing $75 million in federal grants through the national Race to the Top funding competition.
Rhode Island had been the only state without a formula to determine how much state aid each school district should get. That made it difficult for local communities to predict how much they could count on.
The new formula takes into account factors such as how many poor students a district has. State Education Commissioner Deborah Gist says the formula allocates resources fairly.