Preface | p. xi |
The Economics of Education | p. 1 |
Economics and Social Progress | p. 3 |
Education: An Important Industry | p. 4 |
Resource Allocation to Education | p. 8 |
Education as Human Capital | p. 14 |
Creation of Wealth and Education | p. 19 |
Increasing Expenditures and the Economy | p. 19 |
Noneconomic Benefits of Education | p. 20 |
Education Produces External Benefits | p. 21 |
Cost-Quality Relationship in Education | p. 23 |
Financing Education Adequately | p. 30 |
Education Deserves Higher Priority | p. 35 |
The Increasing Costs of Education | p. 36 |
The Consequences of Not Educating People | p. 44 |
Education and Accountability | p. 51 |
Underinvestment Is Poor Economy | p. 53 |
Financing Education Equitably | p. 59 |
Inequalities in Financing Education | p. 60 |
Equity: An Objective of School Finance Reform | p. 62 |
Equity at the School Level | p. 65 |
Measures of School District Wealth | p. 72 |
Historical Influences on Equity | p. 76 |
The Equalization Principle | p. 80 |
Improving State Equalization Practices | p. 80 |
Foundation Program Variations | p. 81 |
The Impact of Average Daily Attendance on Equity | p. 85 |
Confusion in Current School Finance Practices | p. 86 |
Patterns for Developing School Finance Systems | p. 92 |
Concern for Equal Rights | p. 92 |
Full State Funding | p. 93 |
District Power Equalization | p. 96 |
Property Reassessment and Local District Revenues | p. 102 |
Determining the Best Finance Plan | p. 102 |
Equalization of Services | p. 103 |
Emphasis on Weighting Factors | p. 104 |
Principal Types of Weightings | p. 105 |
Sources of Revenue | p. 116 |
The Taxation System | p. 116 |
Characteristics of a Good Tax System | p. 118 |
Criteria for Evaluating Tax Structure | p. 122 |
Taxes for Education | p. 123 |
Property Tax | p. 123 |
Income Tax | p. 127 |
Sales Tax | p. 128 |
Sumptuary Tax | p. 130 |
Severance Tax | p. 130 |
Potential New Taxes | p. 131 |
Lotteries | p. 132 |
Private Foundations | p. 135 |
School-Business Partnerships | p. 135 |
Eroding Local Control | p. 142 |
Diminishing Local Control | p. 142 |
Decreasing Rural Influence on Education | p. 143 |
Decreasing Urban Economic Advantages | p. 144 |
School Districts: Basic Administrative Units | p. 144 |
The Administration of Local School Districts | p. 148 |
Local Fiscal Control | p. 153 |
Advantages of Local Control | p. 157 |
Fiscal Independence of School Districts | p. 158 |
Trends in Local Taxation Practices | p. 158 |
Measures of Local Taxpaying Ability | p. 159 |
Local, State, and Federal Tax Responsibility | p. 159 |
Education: A State Function | p. 164 |
Early Development of State Responsibility | p. 165 |
Development of School Finance Policies | p. 167 |
Developmental Stages of School Finance Theory | p. 171 |
The Varying State Roles | p. 179 |
State Financial Support | p. 189 |
State Ability to Support Education | p. 193 |
Federal Interest in Education | p. 197 |
Historical Role of the Federal Government | p. 197 |
Federal Involvement: A Fluctuating Role | p. 200 |
Federal Expenditures | p. 203 |
Limited Federal Aid: A Reality | p. 204 |
Federal Fiscal Advantages and Disadvantages | p. 205 |
Distributing Federal Funds | p. 206 |
Federal-State-Local Finance Sharing | p. 208 |
Federal Aid in Lieu of Taxes | p. 210 |
Increased Governmental Services | p. 210 |
The Future of Federal Aid-to-Education Programs | p. 212 |
Department of Education | p. 213 |
The Influence and Climate of the Courts | p. 218 |
Court Decision Guidelines | p. 219 |
Power of the Courts | p. 221 |
Equal Protection and the Courts before 1971 | p. 222 |
Serrano v. Priest (1971) | p. 222 |
Consequences of Serrano | p. 224 |
San Antonio Independent School District v. Rodriguez (1973) | p. 226 |
State Court Cases | p. 228 |
Complexity of Judicial Review | p. 230 |
Meeting Court Mandates | p. 232 |
Court Cases and Equity | p. 233 |
Principles Established by Court Decisions | p. 237 |
Pressure for Reform | p. 237 |
Finance Studies and Reform Efforts | p. 238 |
Factors Limiting School Finance Reform | p. 239 |
California's Proposition 13 | p. 239 |
Finance Reform or Tax Reduction | p. 241 |
Public Funds and Nonpublic Schools | p. 246 |
A Controversial Issue | p. 246 |
Nonpublic School Enrollments | p. 248 |
The Law and Church-State Relations | p. 249 |
Intervention by the Courts | p. 251 |
Educational Choice | p. 255 |
Controversy Not Solved | p. 262 |
Financing School Facilities | p. 267 |
Complete Local Support | p. 268 |
Factors Restricting Local Responsibility | p. 269 |
State Capital-Outlay Financing | p. 270 |
The Federal Government and Capital Outlays | p. 272 |
State Support | p. 273 |
Debt Limitations Liberalized | p. 276 |
Equity in Financing Educational Facilities | p. 276 |
Equalization of School Building Costs | p. 277 |
Capital-Outlay Finance Plans | p. 278 |
School Bonding Practices | p. 281 |
Impact Fees | p. 288 |
Other Alternatives | p. 289 |
Administering the School Budget | p. 293 |
Evolution of Budgetary Practices | p. 293 |
The Budget | p. 294 |
Administration of the Budget | p. 300 |
Budgeting at the School Level | p. 303 |
School/District Coordination | p. 306 |
Systems of Budget Administration | p. 310 |
Challenge of Leadership | p. 315 |
Accounting and Auditing | p. 319 |
The School Accounting System | p. 320 |
Standard Accounting Practices | p. 322 |
The Use of Clearing Accounts | p. 324 |
Encumbrance Accounting | p. 325 |
Cost Accounting | p. 326 |
Accrual Accounting | p. 326 |
Computerized Accounting Systems | p. 327 |
Receiving and Depositing Funds | p. 328 |
Expending School Funds | p. 328 |
Financial Reports | p. 329 |
Auditing | p. 330 |
Protecting School Funds | p. 334 |
Business Aspects of the School Community | p. 338 |
The Business Office | p. 338 |
Supplies and Equipment | p. 340 |
Purchasing | p. 341 |
Supply Management | p. 345 |
Risk Management and Insurance | p. 347 |
Insurance | p. 350 |
Transportation | p. 356 |
School Food Services | p. 357 |
Human Resources and School Finance | p. 363 |
Expanding Role of Human Resource Administration | p. 364 |
Issues in School Human Resources | p. 366 |
Salary Schedules and Merit Pay | p. 370 |
Trends in Salary Scheduling | p. 373 |
Benefits | p. 374 |
Teachers and School Finance | p. 377 |
The Changing Assignments of Teachers | p. 378 |
Administrative and Supervisory Salaries | p. 380 |
Noncertificated Personnel Salaries | p. 381 |
Payroll Policies and Procedures | p. 381 |
Current Certification Issues | p. 383 |
Early Retirement | p. 384 |
The Road Ahead in School Finance | p. 388 |
The Unpredictable Future of Public School Finance | p. 390 |
Unresolved Issues | p. 391 |
Some Characteristics of Educational Structure | p. 392 |
School Finance Goals | p. 393 |
The Challenge | p. 394 |
Some Important Federal Programs | p. 397 |
Index | p. 409 |
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