Essay on Schools and Finances - 1155 Words

Regardless of the school, public or private, finances play a major role in its survival. While school districts and schools struggle to survive amid the ongoing and strenuous standards for success, provisions must still be made to ensure that these entities are financially sound (Hall, 2006). The purpose of this paper is to evaluate the ramifications of school finance litigation and practice in the state of Florida. In addition, this paper will be used to research the historical evolution of educational finance and explain the most significant paradigm shifts that have taken place in Florida. Finally, this paper will be designed to evaluate the ways current financial decisions resulting from recent litigation have shaped the educational†¦show more content†¦To comply with these legal challenges, the Florida legislature replaced the MFP (Minimum Foundation Program) with the FEFP (Florida Education Finance Program). The FEFP would be used to fund districts based on the number of full-time students were in the district. In addition the FEFP allocated funds so that poorer districts would be able to receive more funds per student (Herrington Weider, 2001, p. 521). In 1979, FEFP was challenged by the Gindl Department of Education, Escambia, Florida. The school district challenged the discretionary millage provision which may lead to funding shortfalls in property poor districts and funding increases in property rich districts. Additionally, in 1993, Kay Glasser and others sued Florida’s Department of Education over the discretionary millage provision. Glasser contended that the millage limit as set by FEFP for school purposes was unconstitutional, however, the Florida courts upheld FEFP but declined to establish a clear uniform system for public schools (Herrington Weider, 2001). Odden and Piccus (2008) posited that regardless of the push for adequacy in education, the need for equity is still crucial to any school’s financial plan. Hence, su ch cases further suggest that the equity predicament across states and school districts is not one that will be easily solved (Brimley Garfield, 2008). As early as 1995, plaintiffs had begun filing suchShow MoreRelatedThe Issue Of School Finance1213 Words   |  5 PagesSchool finance has been a contentious issue around the country due to the amount of money that is required to provide a public education to all children. Exacerbating the issue is the fact that there is no uniformity across each state because the federal government does not have any clause within the U.S. Constitution that requires a funding of public education. Providing education is simply relegated to each state under the 10th amendment (Russo, 2016). Ohio State Constitution Article VI: â€Å"The GeneralRead More Equality in School Finance Essay1142 Words   |  5 Pages Equality in School Finance In The Story of the Education Dollar, Odden, Monk, Nakib and Picus describe some basic facts about education spending in the United States to facilitate an understanding of the level and uses of the federal governments policies on education funding. The purpose of the authors discussion is to argue that public education facilities need to change their focus on the consumption of educational resources to a focus on producing high levels of student achievement. They contendRead MoreHigh School Finance Teacher1331 Words   |  6 PagesAccrual vs. Cash Basis Accounting Alicia Wiley Grantham University Abstract In this paper I have defined accrual and cash basis accounting. Also, I have answered the following questions: Explain the difference between the accrual basis of accounting and the cash basis of accounting. What are the major reasons for using accrual accounting? What are the purpose of a journal and a ledger? Give an example of a contra-asset, and explain how it is recorded on the ledger as a transaction. ExplainRead MoreHow Student Finances At Your School Essay854 Words   |  4 PagesStreamline Student Finances at Your School This article will explain how school administrators can use one system to manage students financial aid data. The admissions office, registrar and accounting department can have access to the same data simultaneously. A school’s accounting procedures and financial management systems can have a significant impact on the effectiveness and accountability for all funds received by the U.S. Department of Education as well as the ability of school staff to serveRead MorePolicies Regarding School Finance Litigation1884 Words   |  8 PagesIntroduction Policies regarding school finance litigation and all aspects of it were widely debated throughout the years. Everything was most widely considered according to the concepts of adequacy and equity. West and Peterson (2007), has described adequacy in terms of the educational clause of the state constitution in relation to outside criteria and is defined as a concept rather than an isolated word that could be described by itself. Costrell (2007), differentiates equity from adequacy in thatRead MoreThe Ministry Of Education : Finance And State Incorporated Schools Essay711 Words   |  3 PagesProject Background The Ministry of Education gives finance preparing administrations to around 110,000 educators and bolster staff utilized in state and state-incorporated schools in New Zealand. In 2003, Cabinet consented to the Ministry s proposition to update its maturing finance framework. Taking after a broadened time of advancement, the substitution framework, Novopay, went live on 20 August 2012. At the point when the first pay round kept running on 5 September 2012, around 5,000 staff wereRead MoreApplication For The Msc Finance At London School Of Economics1362 Words   |  6 PagesMy decision to apply for the MSc Finance at London School of Economics arose after a judicious process where I questioned my career aspirations. The strong interest in financial markets and its dynamics has matured during my undergraduate studies and my internship at MOMentum Alternative Investments SA, a Swiss Investment Manager. I would love to start my career as a sell-side analyst, a first step I see in the nat ural evolution to reach my aspiration to eventually be a portfolio manager. A deepRead MoreShould Finance Education Be Mandatory Component of School Program1626 Words   |  7 PagesFinancial education should be mandatory component of the school program. To what extent do you agree or disagree with this statement? Outline. In many countries the discussion about the rising financial problems of young people has been getting more emphasis. Tough some people are voting to integrate financial education as a schooling subject. It is an obvious fact that financial aspects are a major part of daily life, as an adult and even as a young individual. Each and every one of us has to makeRead MoreThe School Finance Reform Is Focused On The Distribution Of Funds Across Rich And Poor District Schools990 Words   |  4 PagesThe school finance reform is focused on the distribution of funds across rich and poor district schools. The reform was based on the thought that rich neighborhoods and households were better in spending on education. These scholars would access better programs and their family backgrounds could put them in the most precious and advanced institutions. Poorer neighborhoods on the other hand struggled to raise fees and sometimes students were forced to drop-out due to financial challenges . The historicalRead MoreGraduation Speech : College Graduates1663 Words   |  7 Pagesof high school are being asked to make thousand dollar investments in the potential of their education, as well as navigate the already tricky world of adult personal finance, without having the tools they need to be successful within the current economy. One of the best ways for all people to be made aware of a major issue is through education and this can also apply to personal finance. So far, the education system has made improvements to the personal finance curriculum in high schools over the