Where Did All That Facebook Money Go in Newark?

The Star-Ledger asks, “where did that $200 million to Newark Public Schools go?”

• The biggest chunk, 44.6%, went to labor and contract costs: “$48.3 million went toward a new teachers' contract that included incentives such as merit-based bonuses, $31 million in back pay and $4 million in graduate school tuition assistance. A combined $34.7 million has been committed for buying out district employees and a proposed new contract for principals.”
• 28.8% went to charter schools, which currently serve more than 30% of Newark’s public schoolchildren.
• 10.5% went to consultants. (Oof!)
• 6% went to local philanthropies that funded four new high schools, helped families start home libraries, created after-school and extended-day programs, and “help[ed] layoff victims pursue college degrees or other professional certifications.”
• 0.5% went to train teachers through the Teach for America program.

There’s $30 million left, and that will be gone by next June.