Persistent budget constraints make "equitably" allocating existing resources more important than ever. Conversations regarding equitable funding typically overlook categorical programs, targeted initiatives typically focused on supporting historically underserved student groups, such as veterans, former foster youth, single parents, and…

The distribution of state funding to school districts has a tremendous impact on student learning opportunities. State leaders juggle different priorities, tradeoffs and incentives when designing funding formulas with the goal of ensuring every student has the learning opportunities to succeed. This toolkit offers a strategic guide for reforming…

This study investigates how individual states raise revenue to pay for elementary-secondary education spending after a school finance reform (SFR). We consider 24 states that implemented SFRs between 1989 and 2005. Using a synthetic control approach, we identify six case-study states (Arkansas, Kansas, Maryland, Michigan, New Hampshire, and…

This study investigates how individual states raise revenue to pay for elementary-secondary education spending following school finance reforms (SFRs). We identify states that increased and sustained education expenditures after reform, search for legislative statutes that appropriated more education spending, and assess how policymakers funded…

Knowing how policy-induced salary schedule changes affect teacher recruitment and retention will significantly advance our understanding of how resources matter for K-12 student learning. This study sheds light on this issue by estimating how legislative funding changes in Washington state in 2018-2019--induced by the McCleary court-ordered…

Background: Critical resource theory (CReT) provides a framework for the examination and reform of public finance policy. Funding policies for staffing school-based mental health providers have a substantial impact on the structure of service delivery and the ability of youth (and their families) to access much-needed supports in an era of growing…

It is no secret that America's higher education system has a deep history of discrimination and exclusion. Funding for public institutions is still intensely inequitable and--in many cases--the situation is only getting worse. Most states have one or two public institutions with a large financial advantage over their peers. This is the norm, a…

This paper presents a comprehensive framework for evaluating and reforming education finance systems to ensure equity, adequacy, and equal opportunity in publicly funded education. We summarize decades conceptual work, explaining our evolving understanding of the role and purpose of school finance systems, leading to our current framing that the…

Since 1989, 27 states have passed one or multiple school finance reforms (SFRs), which are typically defined in the literature as court orders or legislative statutes that mandate major redesigns of a state's school funding formula. In most cases, SFRs increase the overall level of state spending on public schools, as well as target larger…

The NACUBO-Commonfund Study of Endowments (NCSE) for fiscal year 2023 marks the 50th consecutive year that NACUBO has published a Study of the endowments of institutions of higher learning. It would not be an overstatement to say that the Study chronicled five decades of unparalleled change. The investment industry and endowment management have…

As unfunded pension liabilities grow, governments experiment with ways to curb costs. We examine the effect of a representative cost-cutting reform on the retention and productivity of workers. The reform reduced pension annuities and increased penalties for early retirement, projected to save 8 percent of revenues. We leverage administrative…

Equitable school funding is key to achieving overall educational fairness. Successful state education finance reform advocates must address the causes of funding inequity and create solutions that consider the effects of changes from different perspectives. "Designing Change: A Toolkit for State Education Finance Reform" gives advocates…

This paper examines how school districts change teacher salaries in response to large changes in revenue. Using district-level salary schedule data for nearly all California school districts, we analyze two time periods: one with a decrease in funding (2007-08 to 2011-12 marked by the Great Recession) and one with a significant increase in funding…

In 1923, Los Angeles teachers protested the state's biennial budget, a controversial document from newly elected governor Friend Richardson that significantly cut funding to government agencies. The budget was the culmination of more than a decade of fiscal policy reform that reflected a significant shift in anti-tax sentiment. The expansion of…

The purpose of this audit was to determine whether Federal Student Aid (FSA) was effectively implementing the Fostering Undergraduate Talent by Unlocking Resources for Education (FUTURE) Act and the Free Application for Federal Student Aid (FAFSA) Simplification Act's provisions pertaining to Federal taxpayer information (FTI) through the Student…