Supporting Bill 223

In Massachusetts, the definition of an adequate spending level for a school district is called its
"foundation budget." The goal of the Chapter 70 formula is to ensure that every district has sufficient
resources to meet its foundation budget spending level, through an equitable combination of local
property taxes and state aid. The foundation budget is perhaps the most important factor used in
calculating a district's Chapter 70 state education aid.

https://malegislature.gov/Bills/190/S223

http://www.doe.mass.edu/finance/chapter70/chapter-cal.pdf