The New South Wales Government says the vast majority of public schools will receive a boost in funding next year under a new model that takes into account the Gonski reforms.

Under the resource allocation model, schools will receive funding on a needs basis.

Each school has been ranked according to the socio-economic or Aboriginal background of their students.

An extra $300-million will be provided in 2014 for the two new equity formulas, with one third of that funding made possible by the Gonski agreement.

Nearly one and a half thousand schools will receive more than double their current funding.

The State government says the new funding model is fairer and more transparent.

The Education Minister Adrian Piccoli says schools will receive money on top of their base allocation, according to the needs of each individual student.

“For the first time ever, every Aboriginal student in NSW attracts funding and we are tripling the number of disadvantaged students who also receive funding,” he said.

“That’s a needs based funding system. That’s a fair way to fund systems and that’s the best way that we’re going to support students to get the best results possible.”

In some cases the increase is significant.

Bonnyrigg High School in Sydney’s south-west will receive $1-million more in funding next year.

But 187 schools, including Bankstown public school, will have their funding reduced.

The Education Department says it has capped the amount for each school at $50,000 to ensure there is no funding shock.

The State Opposition says there is still no certainty for schools following today’s funding announcement.

Labor’s education spokeswoman Carmel Tebbutt says schools still do not know what the allocation will be.

“They’re telling us what allocation schools will get for equity and Aboriginality,” she said.

“But they still haven’t told us the base funding allocation, and that’s the most critical and largest component of funding for any school.”