Spending on K-12 education across the United States and across local school districts has long been characterized by great disparitiesâ€"disparities that reflect differences in property wealth and tax rates. For more than a quarter-century, reformers have attempted to reduce these differences through court challenges and legislative action. As part of a broad study of education finance, the committee commissioned eight papers examining the history and consequences of school finance reform undertaken in the name of equity and adequacy. This thought-provoking, timely collection of papers explores such topics as: What do the terms "equity" and "adequacy" in school finance really mean? How are these terms relevant to the politics and litigation of school finance reform? What is the impact of court-ordered school finance reform on spending disparities? How do school districts use money from finance reform? What policy options are available to states facing new challenges from court decisions mandating adequacy in school finance? When measuring adequacy, how do you consider differences in student needs and regional costs?

Sound school finance is integral to the provision of a quality education. Indeed, a school district’s budget is the financial representation of its educational plan. Thus, a clarion alert for all teachers: “if it’s not in your budget, it won’t be in your classroom.” However, sound school finance is increasingly challenging in an era of scarce resources. This book provides an in-depth understanding of fundamental practices, processes, and lessons learned will benefit not only all school administrators, personnel, parents, students, and other stakeholders, but also undergird the provision of an excellent education. This book will focus on key building blocks essential for the provision of an excellent education. The value proposition inherent in this book works well for all schools, districts, students, and school stakeholders regardless of location, type, and demographic mix. The components of sound school finance that are increasingly important in an era of scarce financial, material, and human resources are provided in this book.

For both aspiring and experienced education leaders in school budgeting, finance, and resource management courses, Money and Schools explains and demonstrates the relationship between money and equality of educational opportunity in a way that is clear, precise, and engaging. Grounded in research and best practices, this book provides a broad overview of school finance, budgeting, and resource allocation, an understanding of the underlying economic, social, legal, and political principles that drive how schools are funded, as well as a detailed examination of day-to-day funding operations. Rich pedagogical features include chapter opening challenges, chapter drivers, point/counterpoint discussions, case studies, and recommended resources. This accessible and engaging book offers strong connections to real-world experiences and detailed information on pre-K–12 funding history, concepts, and current operations. New to this edition: Coverage of environmental sustainability and other emerging trends in this unprecedented uncertainty of schools' economic and social environment. Updates to references and overall funding changes since the previous edition. Revised end-of-chapter activities and additional resources that are aligned with the key concepts and content of each chapter. Updated supplemental downloads, including editable PowerPoints.