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 assumption 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 Attendance. 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
Financing education equitably Name Institution affiliation Tutor Date Financing education equitably The issue of equal allocation of educational funds for schools has become a major concern to educational stakeholder, community and business leaders. Being as the most complex challenge in regions, there calls made to the government are aimed at safeguarding the future of generations…
Through education, learners get a chance to take part in socialization activities thereby learning how to get adopted in a number of social situations. Additionally, racial and social injustices in schools have lead to higher education costs in terms of the human effort.
Additionally, it explains the educational emphasis which includes the adequacy and equity. Financing Education Equitably and Sources of Revenue Case Study Over the decades, education has constantly growing to be a potential investment for many countries. In fact, in most countries education is a basic necessity.
It is a genuine matter of frustration for all students and parents and a new study has provided an even more frustrating report proving the factors that are causing the costs to go even higher. These factors are making Parents more skeptical if investing this much money is even worth it.
There are several steps involved in measuring the school district wealth. The constitution is the leading pillar in ensuring the laws formulated favors the reformation of education. Greater equity calls for funding district schools, or the federal seeks any other appropriate education funding method.
A school is a place where the transmission of knowledge what adults in the society already know, takes place from adults to children. They receive training in a system where each individual develops their skills and intellectual abilities. The benefits of education have a multitude of cognitive advantages; it helps in understanding facts in various academic subjects.
Education is faced with a number of challenges. Some of the challenges involve the scarcity of learning opportunities. The effect of the problem of scarcity is usually felt among the poor since the rich have the required resources to access education facilities.
3). Batra and Mahmood (2003) have disclosed that the local governments of East Asian developing countries provide assistance for promoting training in the private sector, development of technology, and provision of market information. This is achieved by means of micro finance and other related interventions.
Therefore, meaning of ‘income’, ‘revenue’ and ‘profit (gain)’ in terms of IAS 18 is important in understanding the principle of revenue recognition. “Income is defined in the Framework for the Preparation and Presentation of Financial Statements as increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other than those relating to contributions from equity participants.
Aside from receiving US$5,125 from the Federal revenue, Fentress County collected US$3,922 (12.1%) from property tax, US$3,317 (9.6%) from local sales tax, and US$5,095 (15.7%) from other local taxes (p. 11).
Based on 2005-2009 survey, individuals
These factors are making Parents more skeptical if investing this much money is even worth it. Most of the times in public schools the tuition fee is driven from the rising expenditures on the administrators, student support services and
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