Financing Education Equitably & Sources of Revenue Essay

Financing Education Equitably & Sources of Revenue - Essay Example But are these funds enough to cater for the rising population? The issue of funds allocation in the education system has over the years been debatable. 1. In the modern century, several trends have come up which detects the mode of allocation and expenditure of the funds. In general the trends are developed to determine the school district wealth. One of the most used methods is the determining of the state’s current operating expenditure per pupil (COEPP). The measurement covers expenditure on curriculum materials and teacher’s salaries. It is also inclusive of administration and student’s transportation charges. Generally, it detects the difference in expenditure costs per children in different regions of the country. This trend however provides a good field to fraud the government. According to Brimley & Rulon (2008) the trend can be easily fraud by increasing the totals in the expenditures which will provide unnecessary inequality. Another trend is the assump tion of activities and projects to be undertaken by a school at the start of every educational year. These assumptions are obtained from the regional school calendar. The calendar contains all the possible events of the year and their financial estimates. Apart from the activities there is also the determination of possible curriculum changes. The teachers’ funds are also included in the estimates. The estimates and assumptions are close to accurate which provides less probability for great deficits. After the allocation of these funds the regional schools are provided with surplus cash which will cover small adjustments in the course of the year. With these allocations, there is prior planning and management of these funds and school projects. However, if in the course of the year there are major adjustments it could be difficult for regions to tackle the issues. Another shortcoming is that schools may be forced to stick to a particular program and curriculum thus preventing elasticity (Brimley & Rulon, 2008). 2 a. Equity: This is the financial benefits of investors after all liabilities have been accounted for. In educational matters if refers to the benefits the students will have from allocation of funds. Generally, it can be referred to the value of an institution or organization’s assets after all debts and liabilities have been cleared. b. Regressive tax: This is a tax whereby the taxation rate reduces while the amount subject to taxation increases. c. Proportional tax: This is tax whereby the tax rate remained fixed. The amount subject to taxation is directly proportional to the amount of the tax. d. Progressive tax: this is a tax imposed whereby the tax rate increases while the amount subject to taxation also increases. e. Tennessee Basic Education Program (BEP): this is a money generating and funding program whereby state education funds are generated and distributed to Tennessee schools. f. ADA: It is the acronym of Average Daily Atten dance. The average student attendance helps in the determining of allocation of funds. ADA is calculated by the number of days of school attendance by a student divided by the number of the days teachers taught in the school (Brimley & Rulon, 2008). For example, if Isaac attended 142 days of the total 142 of teaching days, he has a 1.0 ADA. g. ADM: it the acronym of Average Daily Membership. This is the count of residential and state based