E,E,A-School Finance

Terms of necessity for school finance are equality, equity and adequacy. Equality means every student has the same access to the same type of basic educational program. Equality in the state funding formula provides equal funds for educational programs that benefit all students and enables a school district to meet state accreditation standards. Some examples of this would include reading and math programs. Equity means that the system is fair and responds to the needs of the individuals.Two examples of equity funding are special program allocations that meet the individual needs of students and state compensatory funds that assist students who are economically disadvantaged. Adequacy means that the school district receive financial support sufficient to meet state accreditation standards. Adequacy funding issues can center around such topics as teacher salaries and textbook costs. In reviewing these concepts as presented in the interview with Dr. Arterbury on week one, the concept of efficiency and choice would definitely be the major factors in how these three financial concepts are used. In his discussion of the state formula, he addressed how Texas funding formula for public school involved two basic fund sources: the local district ad valorem (property) taxes and the state general revenue funds. The goal of the formula is to ensure fair and equitable funding for school district programs. The state formula is designed to reduce the tax base differences in order to provide and equal, equitable and adequate level of funding to all districts. It appears to me that especially at this time these are areas of deep concern.