Open AccessThe equity of school facilities funding: Examples from Kentucky.
Author(s) -
William J. Glenn,
Lawrence O. Picus,
Allan Odden,
Anabel Aportela
Publication year - 2009
Publication title -
education policy analysis archives
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.727
H-Index - 46
ISSN - 1068-2341
DOI - 10.14507/epaa.v17n14.2009
Subject(s) - equity (law) , revenue , economics , equity capital markets , finance , private equity fund , public economics , business , political science , private equity , law
While there is an extensive literature analyzing the relative equity of state funding systems for current operating revenues, there is a dearth of research on capital funding systems. This article presents an analysis of the school capital funding system in Kentucky since 1990, using the operating-revenue analysis concepts of horizontal equity, vertical equity, and fiscal neutrality. In general one could tentatively conclude that Kentucky’s capital-funding system was reasonably equitable until an expansion of district options in 2003–04 was followed by greater measures of inequity. This analysis points to specific methods for Kentucky to restore equity to its school capital funding structure as well as a model for analysis of other capital funding systems.