New York City has found a new way to raise millions - $311 million that is - for public education this year. The approach: private fundraisers soliciting major donations to supplement public taxes.

The upside of such an approach? The New York Times responds:

"In the context of the system's regular budget of about $15 billion a year, $311 million might seem insignificant. But the tax dollars come with so many strings that the administration has viewed private money as crucial for research and development and an array of experimental programs.

"You are able to do it without saying this is money that is going to come out of the classroom …

"So far, the mayor's and the chancellor's collections include more than $117 million to start new small schools; nearly $70 million to open an academy for principal training; $41 million for the nonprofit center supporting charter schools; $11.5 million to renovate libraries; $8.3 million to refurbish playgrounds; and $5.7 million to reshape troubled high schools."

Read the full story in the New York Times

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