School Finance

Question 1

Sources of Funds, How are schools funded? Revenue or income.

Answer 1

State, Local, Federal

Question 2

Where does state funding (money) come from? Revenue…..

Answer 2

State Income Tax, Sales Tax

Question 3

Where does state money (funding) come from? Revenue…..or income

Answer 3

Lotteries

Question 4

What does state money pay for?

Answer 4

Teachers, Administration (example Asst. Principal, High School Principal)

Question 5

How are state funds used?

Answer 5

Support Services (such as 504 plan, intervention, counseling, prevention)

Question 6

How are state funds used?

Answer 6

Maintenance and construction

Question 7

Local funding, revenue or income from where?

Answer 7

Property Taxes-real taxes (taxes paid on real property such as your home.

Question 8

Local funding revenue comes from……

Answer 8

Property Taxes- Personal (personal property is movable; that is, the asset is not fixed permanently to one location as with real property, such as land or buildings. Examples include vehicles, furniture, boats, and collectibles.

Question 9

Local funding revenue

Answer 9

Sales Taxes….on clothes, alcohol, tobacco, computers, and items you purchase

Question 10

Local funding revenue comes from…..

Answer 10

Fines (example..violating town noise ordinance, harboring dangerous animal ordinance) An ordinance is a law set forth by the government.

Question 11

Local funding revenue comes from…..

Answer 11

forfeitures(civil forfeiture occurs when law enforcement officers take assets(cash, car, house) from persons suspected of involvement with crime without charging the owners with wrongdoing.

Question 12

Local funding revenue comes from…..

Answer 12

Bonds( A bond is when the local government gets a loan to build a new high school by getting approval from voters and can used to finance other public projects such as roads, …..

Question 13

Local funding pays for ……………………………………………..

Answer 13

Teachers above or more than the State formula ( 6% more statewide)

Administartion ( 16% more statewide)

Question 14

What does local funding pay for?

Answer 14

Support services (21% more statewide)

Learning support teachers focus on the provision of supplementary teaching to pupils who require additional help.

Question 15

Local funding pays for ……….

Answer 15

Maintenance and construction

Question 16

TThere are wide differences in local funding?

Answer 16

True or False

TRUE

Question 17

NC ‘s top ten highest spending local districts spend an average of ————-per student, the bottom ten spend _____(2016)

Answer 17

1. $3100.00 per student top ten
2. $739.00 per student bottom ten

The highest paid teachers in districts that receive more money get a supplement above their salary, which could be an extra month salary for a teacher. Some districts have one million dollars more from local money to spend.

There is a WIDE difference of money spent in each local district. More money makes a difference in the construction, technology, and stronger teachers in the school.

Question 18

Federal funding revenue sources come from……

Answer 18

• Income Tax (Americans are required to pay taxes on the income they earn)
• Mics. Federal taxes (example, taxes on gas, cigarettes, and liquor)
• Money is limited schools receive from federal money.

Question 19

What does Federal funding pay for?

Answer 19

Block grants (putting school meals (entitlements) to provide participating schools a reliable source of funds to serve all students in need. (Example)

Question 20

Block grant

Answer 20

A lump sum of federal money that is provided to states to operate federal assistance programs that are SPECIFIC.

Are for a specific PROJECT (Math and Science Program, example) for a SPECIFIC BLOCK of time.

If the state doesn’t use the money they loose the money.

Question 21

Federal money can be spent on……….

Answer 21

Catagorial programs

This means is can be spent on students that fall in a special category. Example IDEA, of the other 13 catagories. Money specificically set aside for students that need extra support.

Another example, Free and Reduced Lunch,

Question 22

Issues are the same at the local, federal, and state level.

Fiscal DEPENDENCE verses INDEPENDENCE

Answer 22

Most school districts across the nation DEPEND on government agences.to get money. They cannot charge tuition or fee’s

Example: The Board of Education cannot charge taxes to get money.

Question 23

Issues at the State, Federal, and local level

Answer 23

Funding inequities…….all schools do not receive the same amount of money, which determines why some students get a better education than others.

Question 24

Fiscal

Answer 24

relating to government revenue, especially taxes

Question 25

Charter Schools…..

Answer 25

ALL Charter Schools are public schools.