![]() ![]() More broadly, well-performing schools are an indicator of the health of a community and a clue as to its future. Real Estate Markets Thrive When PA Schools Work (Council for a Strong America, February 2018): "How equitable school funding can boost student performance and home values" Home near a good school? Its value increases by 77 percent (PARJustListed, August 12, 2016): "In zip codes with a good school, homes have seen an average return on investment of 32 percent, or $74,176" Schools influence the majority of buyers (PARJustListed, July 31, 2018): "Seventy-three percent of recent buyers said that schools were a top factor in their home search." What are millennials looking for when searching for a home? (PARJustListed, January 28, 2019): "A safe neighborhood is most important, followed by a good school district and a short commute." The quality of local schools is one of the most important factors for potential buyers. ![]() The rest is allocated through an older formula because of the hold-harmless provision, which guarantees that each school district continues to receive whatever its highest level of funding was between 19 - even if its enrollment has declined and even at the expense of growing and struggling districts. But less than 10 percent ($539 million) of the $6.1 billion in state basic education funding is put through the formula. In 2016, the state Department of Education implemented a Fair Funding Formula to steer money to the districts that need it most. (If facilities and construction costs are stripped out, the gap narrows a bit, from $10,800 up to $29,200.) Inequity - Pennsylvania schools have been cited as the most inequitable in the nation. Total per-pupil spending rates range from about $12,000 up to more than $37,000, according to 2016-2017 expenditure data. ![]() Yet school districts have been losing financial ground as their expenses - especially those they can't control like pension contributions, and special education and charter school costs - rise faster than their revenues. Inadequacy - A University of Pennsylvania study in 2014 found Pennsylvania schools need an additional $3.55 billion to fully meet state adequacy standards. That will only get worse unless action is taken. ![]() Many Pennsylvania school districts face a financial crisis ![]()
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