In an era of dwindling fiscal support for public schools, increasing federal mandates, and additional local budget requirements, educational leaders must be able to articulate sound finance theory and application. Designed for aspiring school leaders, this text presents the realities of school finance policy and issues, as well as the tools for formulating and managing school budgets. The authors move beyond coverage found in other texts by providing critical analysis and unique chapters on misconceptions about school finance; fiscal capacity, fiscal effort, adequacy, and efficiency; demographic issues; and spending and student achievement. Examining local, state, and federal education spending, this text gives readers the foundation to understand school finance and knowledgeably educate colleagues, parents, and other stakeholders about its big-picture issues, facts, and trends. The new edition of American Public School Finance will help educational leaders at all stages of their careers become informed advocates for education finance practice and reform.
New in this edition:
The 3rd edition of American Public School Finance builds on the previous two editions and provides up-to-date information and statistics on current topics and issues. The focus questions, case studies, and chapter questions/assignments provide instructors with resources to teach and assess student understanding of key concepts and information. Most important, Owings and Kaplan write in a style that is scholarly, but that graduate students in school leadership can understand and emulate. Finally, this new edition coordinates the chapter content with the ten Professional Standards for Educational Leaders (PSEL) making it easier for professors to map their course content and key assessments to the standards.
—Marily Hirth, Associate Professor, Educational Leadership and Policy Studies, Purdue University
Chapter 1. Misconceptions about School Finance
Chapter 2. History of School Finance in the United States
Chapter 3. The Legal Framework for Financing Public Education
Chapter 4. Education as an Investment in Human Capital
Chapter 5. Taxation Issues
Chapter 6. Fiscal Capacity and Fiscal Effort
Chapter 7. Equity, Adequacy, and Fiscal Efficiency
Chapter 8. The Structure of School Finance Systems
Chapter 9. Demographics and School Finance
Chapter 10. Budgeting: Applying Policy Values
Chapter 11. Spending and Student Achievement
Chapter 12. Critical and Emerging School Finance Issues