ED465202 - Achieving Educational Adequacy through School Finance Reform. CPRE Research Report Series - ERIC-ED465202 | Content Details

ED465202 - Achieving Educational Adequacy through School Finance Reform. CPRE Research Report Series

Source Institution: Consortium for Policy Research in Education, Philadelphia, PA

Sponsoring Agency: National Inst. on Educational Governance, Finance, Policymaking, and Management (ED/OERI), Washington, DC.; Wisconsin Center for Education Research, Madison

Subject: Academic Achievement, Educational Equity (Finance), Educational Finance, Educational Improvement, Educational Quality, Elementary Secondary Education, Funding Formulas, Money Management, School District Spending

Abstract: Improving the quality of public education is high on the policy agenda in Washington and in state capitals throughout the country. Despite disagreement over specific policies, policymakers appear to recognize that an important element in any plan to improve educational quality is the measurement of student performance. Here, it is argued that most state systems of school finance have not adapted to the new emphasis on student performance and educational adequacy. An important reason that they generally have done a poor job in financing an adequate education is that many formulas that allocate state funds to local school districts fail to recognize that the amount of money needed to provide students with an adequate education varies among school districts. A statistical approach to the measurement of the costs of public education and a means of integrating information on costs into school-aid formulas designed to provide funding for educational adequacy are demonstrated in this report. An approach for estimating school-district costs is also described. Finally, a cost-adjusted foundation formula is demonstrated that is designed to guarantee sufficient funding to all school districts in order to provide their students with an adequate education. (Contains 21 references.).