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| 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 |
| Table of Contents provided by Syndetics. All Rights Reserved. |