House Concurrent Resolution No. 24RS-474, introduced by Representative Schlegel, seeks legislative approval for the Minimum Foundation Program (MFP) formula for the fiscal year 2024-2025, as developed by the State Board of Elementary and Secondary Education. The MFP formula aims to determine the cost of a minimum foundation program of education for all public elementary and secondary schools in Louisiana, ensuring equitable allocation of funds across various parish and city school systems. Adopted on March 6, 2024, the formula incorporates multiple calculations that consider factors such as student enrollment, local revenue contributions, and specific funding needs for teacher pay raises and operational costs. The resolution emphasizes that state MFP funds are designated solely for educational purposes, covering a range of operational and instructional activities.

The resolution also details a comprehensive funding structure, including Level 4 Supplementary Allocations, which provide additional financial support for specific educational needs. It outlines pay raises for certificated and non-certificated personnel over three academic years, as well as differentiated compensation to attract and retain teachers in critical shortage areas. Furthermore, it specifies funding allocations for mentor and resident teachers, ensuring that stipends are provided to support their roles. The resolution mandates that at least 70% of general fund expenditures by local public school systems be allocated to instruction and school administration, and it includes provisions for mid-year adjustments based on student enrollment changes. Overall, the resolution aims to create a fair and structured funding mechanism to enhance educational opportunities in Louisiana.