School Finance: Its Economics and Politics
School financing in America

Revenue sources for federal and state governments

Judicial reviews of school finance policy with evolving standards of equality

School-based decision making

Family choice of schooling

Reform of schooling-finance

Providing equality in educational opportunities to all is one of the cornerstones of American democracy. The founding fathers of America were aware of the necessity of having a population, which is educated since it enables an opportunity for all the citizens of the country to be successful. The necessity and the desire to create an environment where all children have equal opportunities for education to achieve success are now creating fundamental challenges in the field of education in America. In the 20th century, the issues which concerned school finance was about dealing with how to overcome fiscal disparities with the use of state and federal resources within a public school system. The public school system in the initial stages…...

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Bibliography

Alexander, Kern, & Salmon, Richard, G. Public school finance. Mass.: Allyn and Bacon.(1995)

Hertert, Linda, Carolyn Busch, and Allan Odden. "School Financing Inequities Among the States: The Problem from a National Perspective." Journal of Education Finance 19 (Winter 1994), 231-255.

Odden, Allan, R., & Busch, Carolyn, C, "Financing schools for high performance: Strategies for improving the use of educational resources." California: Jossey-Bass, Publishers. (1998)

National Research Council. "Making Money Matter: Financing America's Schools." Committee on Education Finance, Helen F. Ladd and Janet S. Hansen, eds. Washington, DC: National Academy Press. (1999)

The fair / unfair distribution of school resources. In 2000, the ACLU filed suit (Williams et al. v. State of California et al.), claiming that the obligation of the state to provide all students with "basic educational necessities" was not fulfilled. One million of California's students are deprived of educational basics, such as qualified teachers, decent school facilities, and appropriate textbooks.

An important part of these problems are caused by the inadequacy of the school system funding in the state. Others are problems to be solved by individual school districts, since they are seen as a local management problem.

The new concept behind the reform of school finance of California is the "weighted student formula" or "student-based budgeting," which is believed to be a way to a more equitable and effective school funding system. Still, skeptics doubt that it the concept is applicable to California's 9,000 schools serving 6 million children and…...

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Reference:

1. Californians rank low in education, highway spending

Larry Barrett. The Business Journal. San Jose: Jun 17, 1996. pg. 1

2. Tiebout and tax revolts: Did Serrano really cause Proposition 13?

Kirk Stark, Jonathan Zasloff. UCLA Law Review. Los Angeles: Feb 2003.Vol.50, Iss. 3; pg. 801

Williams Case Settlement
Mr. Governor, our youth represents our state's future - addressing and correcting the discrepancies that will be addressed in this memo should be a main priority and maybe even the ultimate objective of the Williams Class action lawsuit educational budget adjustments. The Courts have spoken and have obviously concurred that the California Educational System has been broken for quite some time and is in need of serious financial reform. The decision reached by the courts in the Williams' Class action lawsuit affirms the requirement of the State's obligation to provide an adequate educational process for this state's citizens.

The Williams' Class action lawsuit has become a successful demonstration that points out the blearing differences between an education received by our states rich and poor children when it comes to a K. through 12th grade education. The California State Legislature has confirmed that there is a significant funding disparity amongst…...

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References

Hill, John (2002). School Cutbacks Concern Analysts. Bee Capitol Bureau.

School cutbacks concern analyst

Hill warns lawmakers the governor's proposed budget-cutting plan could cause undue harm in classrooms.

John Hill -- Bee Capitol Bureau

"Failure of any district to budget funds to meet statutory requirements is a very serious matter and will result in the executive county superintendent rejection of the budget. The district will be advised of any lack of budget approval with specific recommendations on necessary corrective revisions." (New Jersey Department of Education 2013, P 14).

3. Key Budget Terminology

There are numerous terminologies with regard to the school district budget. The most important budget terminologies are

evenue

The revenue is the money received by the school district within an accounting year. A fund is part of the revenue and there are four sources of revenue for the school district and this include:

Local source,

Intermediate source, state, and Federal sources.

Expenditures

Expenditures are the expenses that the school district must fulfill within an accounting year. Part of the school district expenditures are the payment of teachers' salary, and travel expenses for the school staff

Balance Sheet

Balance sheet reveals the total…...

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References

Ernest & Young (2012).U.S. GAAP vs. IFRS the basics. Ernst&Young LLP.

State of New Jersey (2008).The Uniform Minimum Chart of Accounts for New Jersey Public Schools. Department of Education, Division of Finance.

New Jersey Department of Education (2013).Budget Guidelines Fiscal Year 2013-2014.Office of School Finance.

The experience has proven to be a real world confirmation of what I want to do in my professional life. I was charged with handling financial computations, modeling, forecasting and transactions. While doing so, I knew I have found my niche in life and need only gain both theoretical training and further real world experiences to become the best I can be in my chosen field. Once I have completed my graduate studies in Finance, I intend to apply for work at leading firms specializing in international finance and trade. This will enable me to apply knowledge learnt in undergraduate and graduate studies. Graduating from two prestigious institutions in the United States will accord me the opportunity to practice anywhere in the world since I have had the global education necessary. It will be a different world since I would have left the secure confines of the academe and…...

There is no evidence yet that federal involvement in the education system has improved outputs, which would be a prerequisite for efficiency. Part of this problem is data deficiency -- it is simply too early to tell if students reared under NCLB are more competitive because the first wave have barely left school, if they have left at all.
ith respect to Liberty, certainly federal involvement in education funding has constricted liberty. Even a small amount of federal funding can result in a strong federal influence on policy (Shelley, 2007). This influence on the system contributes to the erosion of state control. hile the states control the curriculum de jure, they are subject to varying degrees of influence from the federal government, depending on their dependence on Title I financing.

orks Cited:

US Department of Education website. Retrieved April 24, 2009 from http://www.ed.gov/about/offices/list/ous/international/usnei/us/edlite-org-us.html

No author (2007). Congress to eigh 'No Child Left Behind'.…...

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Works Cited:

US Department of Education website. Retrieved April 24, 2009 from  http://www.ed.gov/about/offices/list/ous/international/usnei/us/edlite-org-us.html 

No author (2007). Congress to Weigh 'No Child Left Behind'. CBS News. Retrieved April 24, 2009 from  http://cbs2chicago.com/politics/No.Child.Left.2.278792.html 

Shelly, Bryan. (2007). A Small Lever: Federal Funding and State Compliance to No Child Left Behind. Wake Forest University. Retrieved April 21, 2009 from  http://www.allacademic.com//meta/p_mla_apa_research_citation/1/9/8/5/6/pages198564/p198564-1.php

For example, many of the large investment banks may choose to deal only with large deals will have minimum transaction sizes. Therefore, the first consideration may be the suitability of the bank given the size of the organization. There may also need to be consideration of the degree of attention and expertise that the investment banker direct with the company, even if the minimum is met, large organizations with a large number of clients may have a higher level of expertise that can be directed, but they may also be more focused on large clients. This can only be assessed by talking to the relevant investment bank.
Prior to taking on any investment bank it will be necessary to allow the investment banker to make a pitch. oss details of the organization's financial position may be given prior to this pitch, but an investment banker should be willing to sign…...

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References

Friedman, Benjamin M, (1982), The Changing Roles of Debt and Equity in Financing U.S. Capital Formation, University of Chicago Press

Miller, M. H, (1988), The Modigliani -- Miller Propositions after Thirty Years, Journal of Economic Perspectives 2(4), 99 -- 120.

Turo, J, (2013, October 2), How to Choose The Right Investment Banker to Sell Your Business, Entrepreneur, accessed 27th April 2014 at  http://www.entrepreneur.com/article/228671

I would advise that Mr. Haskins has to understand that the banks are businesses, and make strategic investments when they think those businesses will pay off. This means that AMD needs to ensure that the banks are happy, in order to secure financing. That means giving the banks what they need to feel secure in this investment. Receivables are not adequate collateral, for a lot of reasons, and ancient receivables are especially worthless. Likewise, giant stockpiles of inventory are not good collateral for a bank. Mr. Haskins has to understand that banks are not interested in these things as collateral, but if he gives the banks what they want he can have loans on the strength of his business.
Mr. Haskins must realize that banks are partners, but they need something out of the deal as well, and do not operate on blind faith. As such, Mr. Haskins needs to…...

Finance
The FCF-based valuation model is based on the following formula:

EBIT (1-Tax Rate) + Depreciation & Amortization - Change in Net orking Capital - Capital Expenditure

Investopedia, 2012)

is the free cash flow each year, C0 is the original cash outlay, and r is the discount rate. The free cash flows in this type of calculation are only those cash flows that are incremental to the investment decision. Thus, they do not include such non-cash items as depreciation or amortization expense, and they do not include either sunk costs or non-incremental flows like overhead allocations. The r is the discount rate, and the firm can select its discount rate from a number of different options. The most common, and arguably logical, is the firm's weighted average cost of capital. This reflects the firm's cost of equity, its cost of debt and its capital structure, with allowances for preferred shares as well if the…...

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Works Cited:

Berkman H., Bradbury, M. & Ferguson, J. (2002). The accuracy of price-earnings and discounted cash flow methods of IPO equity valuation. Journal of International Financial Management and Accounting. Vol. 11 (2) 71-83.

Del Vecchio, J. (2000). Dividend discount model. Motley Fool. Retrieved April 27, 2012 from  http://www.fool.com/research/2000/features000406.htm 

Demirakos, E., Strong, N. & Walker, M. (2004). What valuation models do analysts use? Accounting Horizons. Vol. 18 (4) 221-240.

Francis, J., Olsson, P. & Oswald, D. (2000). Comparing the accuracy and the explainability of dividend, free cash flow and abnormal earnings equity value estimates. Journal of Accounting Research. Vol. 38 (1) 45-70.

Consortiums and collaborations

Harvard is part of the original Ivy League sporting conference, encompassing Yale, Princeton, Brown, the University of Pennsylvania, Cornell, and Dartmouth. Harvard students are also able, with permission, to take classes at MIT and at Harvard graduate institutions. Harvard offers extensive study abroad options.

Intercollegiate athletics

Harvard has 41 Division I intercollegiate varsity sports teams for women and men, more than any other Division I college in the country. Harvard is also a proud member of the Ivy League, which is a sporting conference of some of the nation's finest academic institutions (Athletics, 2009, Harvard College).

Community involvement

Harvard has an extensive network of student-directed community service organizations: "Students direct over 120 different programs in and around the Greater Boston area" (Community outreach, 2009, Harvard College). Student-lead groups include afterschool tutoring programs for the disadvantaged members of the community, health awareness and drug abuse prevention programs, mentoring of young people, adult education…...

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Works Cited

At a glance. (2009). Harvard College. College Board. Retrieved June 21, 2009 at  http://collegesearch.collegeboard.com/search/CollegeDetail.jsp?collegeId=1251&profileId=0 

Athletics. (2009). Harvard College. Retrieved June 21, 2009 at http://www.admissions.college.harvard.edu/about/beyond/athletics.html

Community outreach. (2009). Harvard College

http://www.admissions.college.harvard.edu/about/beyond/community.html

The last century has seen an increase in the level of international purchases which has been supported by the developments in transportation and technology. Goods can move faster than before with developments in logistics. The negotiation and forming contracts for purchase with companies and communicate with potential suppliers in distant countries is also easier than in the past with the internet and tools such as video conferencing and emails. This facilitates the use of international suppliers. However, other firms may choose local suppliers believing strategy will best suit their needs. Local suppliers may be able to provide where there is an increase in the transparency of the supply chain, less exposure to risks such as interruption and exchange rate risks and proximity may allow closer collaborative relationships to develop. Both procurement strategies are viable, to assess the advantages associated with each approach the procurement from international and local suppliers…...

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REFERENCES

'Automotive and Auto Parts Industry in Turkey.' (2012). Turkish Ministry of Economy. [online] available:  http://blog.tcp.gov.tr/?p=2632 .

"Automotive Industry Trends Affecting Component Suppliers.' (2005). International Labour Review, vol. 144, no. 1, pp. 130-133.

Borrus, M., Ernst, D. & Haggard, S. (2001). International Production Networks in Asia: Rivalry or Riches. London: Routledge.

Burton, S., & Steane, P. (2004). Surviving Your Thesis. New York: Routledge.

School
Surveys by the National Association of Independent Schools last year indicated that the issue relating to money management in the schools was among the most pressing issues and challenges facing school leadership. The questions were related to re-thinking financing the schools for proving quality and cost effective education to students efficiently. Last fall, National Business Officers Association held a meeting of school heads, trustees, business managers, and advancement professionals to begin to explore the possibilities of re-engineering the ways schools approach financing. Preliminary thinking from that symposium led to the offering that until schools can manage their own funds the quality of education is unlikely to improve.

Schools in the 21st century require, among other things, thoughtful leadership in the domain of financing. Such leadership will engage schools in serious financial modeling, projecting forward five years to produce differing financial scenarios in an attempt to develop the preferred educational model…...

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References

Guthrie, James W. "Implications for Policy: What Might Happen in American Education If It Were Known How Money Actually Is Spent?" In Where Does the Money Go?" Resource Allocation in Elementary and Secondary Schools, edited by Lawrence O. Picus and James L. Wattenbarger. Thousand Oaks, CA: Corwin Press, 1996. Pages 253-68.

Odden, Allan, and William Clune. "Improving Educational Productivity and School Finance." Educational Researcher 24, 9 (December 1995): 6-10.

Odden, Allan. "Raising Performance Levels Without Increasing Funding." School Business Affairs 63, 6 (June 1997): 4-12.

Picus, Lawrence O. "Does Money Matter in Education? A Policymaker's Guide." In Selected Papers in School Finance 1995, edited by William J. Fowler. 19-35.

Annotated Biliography OutlineIntroductionFunding for resources that support curriculum development is influenced politically and socially. Those in power can control the amount of funding given to schools and districts, which directly impacts the curriculum within the district.Political influence on school funding, social factors affecting curriculum, economic implications of funding decisions, and equity and social justice aspects in curriculum development are all part of the spectrum of this issue. The literature on this topic is quite expansive in exposing each of these parts of the spectrum to some light, starting with Freire (1996) and Tyack and Cuan (1997) on up to Reardon et al. (2019) and Sahlerg (2021). Each theme is explored through different works from seminal studies to contemporary studies, with different researchers focusing on race, others on finance reform, others on social justice, and others on curriculum. All together they can e comined to give a deeper understanding of how…...

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bibliography gives a strong overview of the factors influencing curriculum development and reveals the importance of political, social, economic, and equity considerations in shaping educational policies and practices. The selected works offer valuable insights and recommendations for creating more equitable and effective educational systems. Through addressing these factors, policymakers and educators can develop curricula that promote educational equity, social justice, and long-term success for students.ReferencesAdamson, F., & Darling-Hammond, L. (2012). Funding disparities and the inequitable distribution of teachers: Evaluating sources and solutions. Education policy analysis archives, 20(37), n37.Apple, M. W. (2012). Social structure, ideology and curriculum. In Rethinking curriculum studies (pp. 131-159). Routledge.Baker, B. D., Farrie, D., & Sciarra, D. G. (2016). Mind the gap: 20 years of progress and retrenchment in school funding and achievement gaps. ETS Research Report Series, 2016(1), 1-37.Banks, J. A. (2015). Cultural diversity and education: Foundations, curriculum, and teaching. Routledge.Darling-Hammond, L. (2013). Inequality and school resources. Closing the opportunity gap: What America must do to give every child an even chance, 77.Freire, P. (1996). Pedagogy of the oppressed (revised). New York: Continuum, 356, 357-358.Hargreaves, A., & Fullan, M. (2012). Professional capital: Transforming teaching in every school. Teachers College Press.Jackson, C. K., Johnson, R. C., & Persico, C. (2015). The effects of school spending on educational and economic outcomes: Evidence from school finance reforms (No. w20847). National Bureau of Economic Research.Jennings, J. L., & Bearak, J. M. (2014). “Teaching to the test” in the NCLB era: How test predictability affects our understanding of student performance. Educational Researcher, 43(8), 381-389.Lafortune, J., Rothstein, J., & Schanzenbach, D. W. (2018). School finance reform and the distribution of student achievement. American Economic Journal: Applied Economics, 10(2), 1-26.Levin, B. (2008). How to change 5000 schools: A practical and positive approach for leading change at every level. Harvard Education Press.Reardon, S. F., Kalogrides, D., & Shores, K. (2019). The geography of racial/ethnic test score gaps. American Journal of Sociology, 124(4), 1164-1221.Sahlberg, P. (2021). Finnish lessons 3.0: What can the world learn from educational change in Finland?. Teachers College Press.Tyack, D. B., & Cuban, L. (1997). Tinkering toward utopia: A century of public school reform. Harvard University Press.Urban, W. J., & Wagoner, J. L. (2004). American Education: A History. Routledge.

Stories detailing the rise and fall of the Egyptians, the Roman Empire and other great nations proved mesmerizing and intriguing.
My interests in other areas have also been diversified; I have pursued many adventures, participated as president of many clubs, and won many competitions in music, sports, dance and more. My strength has always been academics however. During high school I was presented the unique opportunity to come to the United States and continue my education. It was here that I decided to study history initially. Though my parents pressured me to study finance or business, I found such work tedious at least initially. I did however entertain my parents and begin taking more classes in finance. This was probably the best decision I have ever made and helped create the professional I am today.

The more I learned the more I came to understand that finance was more than crunching…...

Providing online course options for requirements would likewise reduce overall operating costs for the university, in terms of classroom space. Online teachers tend to be paid less than teachers of 'real world' classes, and these classes can more easily be staffed by adjuncts. Shifting the focus of teaching to adjuncts and teaching assistants would also limit the high cost of faculty salaries, especially for common core classes and departments with lower enrollments, where students may welcome the flexibility of an online venue. . Offering faculty members in non-priority departments the ability to retire is another way to reduce costs.

Prioritizing which tenured faculty members are necessary to retain, which departments cannot be shifted online or transformed into joint majors or joint programs with other, nearby institutions, and enacting a more stringent review process for tenure, to create a leaner institution is all essential. So can giving students more credits for internship…...

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Works Cited

Caldwell, B. & Harris, J. (2008). Why Not the Best Schools?: What We Have Learned from Outstanding Schools Around the World. Sydney: Australian Council for Educational

Research.

Chabotar, K.J. (2006). Strategic finance: Planning and budgeting for boards, chief executives, and finance officers. Washington, DC: Association of Governing Boards of Universities and Colleges.

Meyers, R. (1996). Strategic Budgeting. USA: University of Michigan Press.