This overview provides a synthesis of a comprehensive survey of school finance programs in the 50 states conducted in 2006-07. Information was provided by chief state school finance officers or persons with expertise in a state's public school funding-allocation system. Brief descriptions of the major Pre-K-12 funding formulae, district-based…

A large literature finds that resources are not significant determinants of student performance. These results may arise because resources really do not matter in public education or because local school districts allocate additional resources to poorer performing schools. To shed light on this issue, a unique data set for the Metropolitan…

The California Supreme Court catalyzed school finance litigation with its rulings in the "Serrano v. Priest" cases. The court's required that wealth-related spending differences essentially be eliminated, the legislation required to implement that decision, and the passage of Proposition 13's property tax limitation has resulted in dramatically…

Although the notions of vertical and horizontal equity are straightforward, constructing valid measures of each has proven difficult in states that make revenue adjustments for multiple factors. In this article we introduce an alternative approach for assessing horizontal and vertical equity that addresses this problem. This approach is based on…

This article focuses on the change in selected state-level school finance variables from 1970 to 2000, with particular attention to the changes in these variables and school finance litigation decisions in states with and without state-level tax and expenditure limitations (TELs) or supermajority requirements (SMRs). The magnitude of the decrease…

In this article we analyze the dynamics of endowment spending and real endowment values using rules that tie endowment spending to inflation. Numerical examples demonstrate that under a pure inflation rule, spending rates tend to drift away over time from the appropriate rate, leading to either rising or falling real endowment values. Under a…

Overview of research on human capital, including the concept, history of studies, education as a form of human capital, issues and caveats, and role in growth theory. Concludes with current focus on human capital research. (Contains 56 references.) (Author/PKP)

Argues that state school-finance reform efforts are focused on equalizing property-tax bases and per-pupil expenditures rather than on improving student performance to meet educational adequacy standards. Uses data from Wisconsin and Texas to measure cost differences, frequently substantial, among school districts. Demonstrates use of…

Reviews history of incremental improvements in Iowa's school finance system. Using standards of taxpayer and student equity, reexamines the finance system and test effects of recent reforms. Discusses how Iowa and other legislative-initiated reform states fit into the overall pattern of school finance reform. (Authors/PKP)

Summarizes goals of state education aid, presents a conceptual model of aid's welfare effects, and examines the literature of tax and expenditure effects. Capitalization changes the relative desirability of two goals; equalizing resources across districts becomes less important than equalizing school districts' actual spending levels. (Contains 45…

Describes and contrasts different methods of estimating costs of standardized testing. Using a cost-accounting approach, compares gross and marginal costs and considers testing objects (test materials and services, personnel and student time, and administrative/building overhead). Social marginal costs of replacing existing tests with a national…

Clear funding/achievement relationships are emerging from the recent body of production-function research. Money does matter in producing educational outcomes. Factors such as small class size and teacher experience can drive up instructional costs. Schools cannot operate efficiently with scanty resources. Equalizing quality resource inputs is a…

Examines development of the equalization idea in American public education, discusses theorists' applications of equalization to school finance, reviews the literature on school-finance reform-litigation effects, and concludes that U.S. history has not strongly supported equalization of educational opportunities. Education is not a fundamental…

Discusses (1) the history of state financial aid to independent colleges and universities; (2) constitutional issues affecting such aid; and (3) several types of aid programs in existence, particularly nonneed-based tuition grants. Speculates on the future of such aid. (MCG)

Reviews and compares various theories of equal educational opportunity and their applications in the United States and elsewhere. Proposes a set of four types for classifying different measures of inequality. (MCG)