1. GENERAL OPERATING FUNDS
The formula was based on a “weighted” per-pupil count.
This count was a way to adjust the district’s enrollment number based on cost factors, i.e. low socio-economic status, special needs, low total enrollment in the district. Some students require additional resources to educate.
2. LOCAL OPTION BUDGET (LOB)
This is also referred to as Supplemental General Fund Aid.
The LOB provides districts the option to levy additional taxes (up to 33%) to enhance general operating fund in order to provide additional programs and services.
A statewide property tax of 20 mills was set to provide some of the funding.
3. EQUALIZATION FORMULAS
These formulas provided additional state aide to ensure funds raised through property tax levies charged at local levels for LOBs, capital outlay funds and debt service funds were comparable to one another – regardless of district’s wealth.
WHAT WAS WRONG WITH THE OLD FORMULA?
This is an endless topic of debate. Here are a few examples:
Because the block grants go away and we have to write a new finance formula to support Kansas public education