Teton County School District No. 1 could lose nearly $4 million annually if lawmakers change the way the state accounts for the valley’s high cost of living in funding formulas.
Last week, the Wyoming Legislature’s Joint Education Committee — five senators and nine representatives — initially approved using a hedonic cost-of-living adjustment instead of the current cost-based model. Under a hedonic model, for instance, someone could be paid less because he or she gets to live near a national park and enjoy its intangible benefits. Under the state-authored cost-of-living index used today, Teton County is deemed to be 33 percent more expensive than the state average. Under the proposed hedonic index, Teton County would be considered just 11 percent more expensive than the state average.
Last week, the Wyoming Legislature’s Joint Education Committee — five senators and nine representatives — initially approved using a hedonic cost-of-living adjustment instead of the current cost-based model. Under a hedonic model, for instance, someone could be paid less because he or she gets to live near a national park and enjoy its intangible benefits. Under the state-authored cost-of-living index used today, Teton County is deemed to be 33 percent more expensive than the state average. Under the proposed hedonic index, Teton County would be considered just 11 percent more expensive than the state average.
No comments:
Post a Comment