Hathaway student scholarship program.

13LSO-0495.L1

FISCAL NOTE

	FY 2014	FY 2015	FY 2016
NON-ADMINISTRATIVE IMPACT
Anticipated Expenditure Increase:
HATHAWAY SCHOLAR. EXPEND.	747,314	745,927	751,097

Source of Expenditure Increase:

The increase in expenditures to the Hathaway Scholarship Expenditure Account would result from the 5 percent increase to the scholarship award amounts.  The estimated total expenditures out of the Hathaway Scholarship Expenditure Account would be $15,693,589 for FY14, $15,664,457 for FY15, and $15,773,036 for FY16.

Assumptions:

The increase shown above is based upon the Department of Education’s Hathaway Scholarship projections based upon historical K-12 enrollment numbers from December of 2012. It is assumed that all students currently and prospectively would receive the new scholarship level award amounts. 

This estimate does not include any potential changes in student behavior such as more students qualifying or accepting the Hathaway Scholarship, changes in the percentage of students receiving different level scholarships, or any changes in scholarship retention rates.  Any changes to these variables would affect the total number of students receiving Hathaway Scholarships and thus the total expenditures in the future.

Prepared by:   Matthew Sackett, LSO  Phone: 777-7881