Finance, of Public Schools

Scott R. Sweetland

The field of school finance is confusing to many, perhaps even to those who regularly conduct research using financial variables. One reason for confusion resides in the multiple cash flows of school funding that are federal, state, and local revenue. Another reason for confusion about school finance is that school funding information and analysis are derived from separate but related research tracts. For example, school finance research concerned with the equity and adequacy of state funding for schools commonly draws upon legal literature, whereas school finance research involving academic achievement often utilizes production functions and draws from an economics literature base. Finance, like economics, has been practiced since the beginning of time, but Ellwood P. Cubberley formally brought the topic of school finance to academic press in a landmark 1906 work on the funding of schools. Written at the beginning of a sea-change shift from predominantly local community funding toward ...

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