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Education Spending Increases Across Much of Country

A new fiscal year for most U.S. states means a new budget for schools across the country. Surprisingly, school districts in 40 states will be receiving more funds than they did in the previous year.

Forty states have passed budgets that increase spending and dedicate extra funding primarily for education, according to a brief released on Friday by the National Association of State Budget Officers.

States have increased education funds by changing school finance formulas, bumping up amounts for early education, and tying higher education funding to performance measures, Reuters reported.

The increases come despite the fact that revenue growth fell in the first quarter of 2014 in some states. 

"The decline in revenue has caused several states to reduce spending increases for certain programs, enact smaller tax cuts and delay pay raises, and has led to smaller ending balances for fiscal 2014," NASBO said. "Additionally, in some states governors have made line-item vetoes to ensure that the budget remains in balance for fiscal 2015."

Read the fulll story here.

 

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