This paper studies how school spending impacts student achievement by exploiting the US interstate branching deregulation as state tax revenue shocks. Leveraging school finance data from universal school districts, our difference-in-differences estimation reveals that deregulation leads to an increase in per-pupil total revenue and expenditure.…

At their best, K-12 public school systems can be engines of social and economic mobility. Unfortunately, schools in lower-income districts -- whose students have the greatest academic needs -- often receive less funding than their counterparts in more affluent districts. Discussions about closing these funding gaps usually zoom all the way out to…

School finance debates frequently turn on two crucial questions: (1) How much do state and local governments spend on K-12 education?; and (2) How are education dollars distributed across jurisdictions? This focus makes sense because the answers to these questions determine how well states are able to provide an adequate, equal education for all…

School funding in Michigan is inadequate and inequitable. Michigan does not provide a sufficient base per-pupil amount, nor does the state properly address the cost of educating students with additional needs, especially students with disabilities, English learners, and low-income students. It would cost $4.5 billion to bring districts to funding…

Construction and maintenance of school facilities are big cost drivers for schools, and the quality of school facilities can make a difference in student learning and health. Notably, school building construction is the second-highest capital expenditure of state and local funds, trailing only investments in infrastructure like roads. Ensuring…

The per-student data included in the State Higher Education Finance (SHEF) report provide useful information about revenues relative to the need to fund higher education and are important for examining the impact of funding differences on public institutions and students across states and over time. However, examining state support on a full-time…

This First Look report introduces new data for national and state-level public elementary and secondary revenues and expenditures for fiscal year (FY) 2022. Specifically, this report includes the following school finance data: (1) revenue and expenditure totals; (2) revenues by source; (3) expenditures by function, subfunction, and object; (4)…

Most Americans today need some education beyond high school to secure a well-paying job, and higher education is a key factor in social and economic mobility. But higher education is not accessible to all students. To further equalize opportunity, states must understand options for improving the way they fund higher education. America's public…

The State Higher Education Finance (SHEF) report is produced annually by the State Higher Education Executive Officers Association (SHEEO) to broaden understanding of the context and consequences of public policy decisions in each state that contribute to public higher education funding levels and funding distributions across states and…

Since 2003, the State Higher Education Executive Officers Association (SHEEO) has produced the annual State Higher Education Finance (SHEF) report to broaden understanding and enable analysis of state-level and national funding and enrollment trends over time. The SHEF report provides the earliest possible review of state funding for higher…

The State Higher Education Finance (SHEF) report is produced annually by the State Higher Education Executive Officers Association (SHEEO) to broaden understanding of the context and consequences of public policy decisions in each state that contribute to public higher education funding levels and funding distributions across states and…

New Jersey's School Funding Reform Act (SFRA) is a "weighted" funding formula, designed to deliver adequate funding based on the unique student needs in every school district across the state. The SFRA included key elements to address long-standing racial and socio-economic disparities in New Jersey's public school system, most notably…

School districts and state education systems across the country are in the midst of an increasingly challenging fiscal environment. In many states, funding for K-12 education remains below pre-recession levels in what has been called a "punishing decade for school funding" (Leachman et al., 2017), despite efforts in recent years to…

The State Higher Education Finance (SHEF) report is produced annually by the State Higher Education Executive Officers Association (SHEEO) to broaden understanding of the context and consequences of multiple public policy decisions in each state. These decisions contribute to public higher education funding levels and funding distributions across…

This executive summary presents highlights from the annually-produced State Higher Education Finance (SHEF) report for FY 2018. The State Higher Education Executive Officers Association (SHEEO) publishes the yearly report to broaden understanding of the context and consequences of multiple public policy decisions in each state. These decisions…