In November 2014, New York voters approved the Smart Schools Bond Act, which authorizes up to $2 billion in state general obligation borrowing to finance school district purchases of computers and other classroom technology; improve schools' high-speed and wireless internet links; install "high-tech smart security features" in school…

Public investments in repairs, modernization, and construction of schools cost billions. However, little is known about the nature of school facility investments, whether it actually changes the physical condition of public schools, and the subsequent causal impacts on student achievement. We study the achievement effects of nearly 1,400 capital…

If a school district has more than $10 million in tax-exempt debt, inclusive of all outstanding bonds, certificates of participation, and other public debt issues with durations of more than nine months, it must comply with the contractual requirements entered into under Securities and Exchange Commission (SEC) rules. District administrators and…

Purpose: Across the United States, a large percentage of school districts are in need of facility improvements to provide safe and adequate buildings to facilitate student learning. To finance new construction, school districts traditionally have put proposals before local voters to fund construction through issuing long-term bonds to finance…

To formulate a "systems-based" plan to address the PK-12 infrastructure crisis, in 2016, the 21st Century School Fund (21CSF) and the University of California-Berkeley's Center for Cities + Schools (CC+S), in partnership with the National Council on School Facilities and the Center for Green Schools at the U.S. Green Building Council,…

In this autoethnography, I examine the challenges I faced as a private-to-public-sector novice CFO entering a resource-constrained 41-thousand-student K-12 urban school district in Colorado. This study chronicles how I deliberately slowed down my interactions within a complex adaptive system (CAS) through ethnographic interviewing to identify the…

The Internal Revenue Service (IRS) has announced that post-issuance tax compliance is among its highest priorities. This is supported by the recently imposed annual reporting requirement on nonprofit corporations regarding the application and use of tax-exempt bonds issued for their benefit. School districts issuing tax-exempt bonds often spend…

These qualitative case studies give the prospective superintendent a real-life look at life on the other side of the district CEO's desk. Two dozen superintendents reflect upon their first challenges and growth opportunities that arose during that all-important first year. They tell it like it is, no sugar-coating. The experiences they listed, in…

During the past several years, school district personnel have faced an arduous task of convincing a local electorate--including those who are not directly associated with local schools--to increase its own tax rate. Convincing demographic groups that have a vital interest in improving school facilities can be an easier task. Parents who want to…

Almost half of the states in the United States allow citizens to make educational policy through ballot issues, a mechanism of direct democracy. Yet, no study has attempted analyze the educational ballot issue landscape, meaning little systematic attention has been paid to this important and increasingly influential form of educational policy…

Issuing long-term debt can be a complex, multifaceted process. Although the process varies by stare, typically the school business official and the district solicitor work with the financing ream, which includes a financial adviser, bond counsel, underwriter, raring agency, and possibly a bond insurance agent, paying agent, and architect.…

No other city in the nation more clearly exemplifies the dramatically changing social, political, and economic landscape of America's urban centers than Houston. Houston has transformed from a bi-racial southern city on the bayou to one of the most ethnically and culturally diverse communities in the nation. Houston Independent School District…

One distinction between the markets for corporate and municipal bonds involves institutional constraints that apply to some municipal bond issues. This research focuses on how public finance institutions, in particular explicit debt limits and referenda requirements, affect the borrowing cost of individual school district bond issues. The…

Past reports by the Center for Evaluation & Education Policy (CEEP) have sought to examine various aspects of Indiana public school funding such as the mechanisms for funding, school revenues and expenditures, as well as numerous other reports whose subjects have implications on school and program funding. This report focuses on another…

The federal government has traditionally given local school districts an indirect subsidy by allowing them to issue tax-exempt bonds. Because the bondholders pay no tax on the interest income, they are willing to take a bond bearing interest at, say, 4.5% rather than 6%. Such lower interest is great for the school district because it saves the…