Six Things You Should Know About Iowa School Finances...
July 05, 2005
- Enrollment: The number of students enrolled by the third Friday in September determines the school district's budget. More students may enroll after this date, but the budget is set.
- Equalization: The State Legislature established a law that "cost per student" across the state will be equal to ensure every student equal access to a quality education.
- Allowable Growth: The State Legislature controls the annual increase in dollars available per student. This is called "allowable growth."
- Balance: The ratio of property tax and state aid supporting a district's budget varies by district. Property-rich districts receive less state aid.
- Employees: The school distract budget is "people intensive" with 80% allocated to salaries and benefits.
- Restricted Funds: "Restricted funds" cannot be used to support the general operating fund.
