The backbone of the Massachusetts economy is our well-educated workforce, making our public education system a critical component of the state’s long-term economic well-being. MTF recognizes education as a core competitive edge. From a budgetary standpoint, Massachusetts devotes considerable revenues to its numerous public educational funding programs: early education, K-12 schools, higher education, workforce training, and other programs. While elementary education is determined at the municipal level, the state plays a critical role in the educational funding formula, distributing local aid for education through the annual state budget process. MTF looks at the many aspects of education funding and its impacts on the annual operating budget.