Funding Missouri’s Public Schools for the Long Haul
“An investment in knowledge pays the best interest.” Those words are credited to one of our nation’s Founding Fathers, Benjamin Franklin, and I could not agree with them more. An education is one of those rare gifts in life that keeps on giving. Long after we have graduated and our formal education comes to an end, the knowledge and life skills we acquired in the classroom continue to benefit us throughout our lives and move our society forward.
As a public servant, one of my chief concerns has always been ensuring Missouri’s children have access to a quality education. As a lawmaker, I share in the responsibility of seeing that our public school system has the financial means to provide that education, because although it is invaluable, it is not free. This brings us to Missouri’s foundation formula, which determines the amount of funding each school district in Missouri receives.
The original foundation formula contained a 5 percent cap on current operating expenses. The cap was established to limit the rate of growth of the State Adequacy Target (SAT), or the dollar amount invested in each student to ensure they are educated adequately by funding Missouri’s districts equitably.
In 2008, Missouri voters passed Proposition A, which eliminated the gaming loss limit. At the time, proponents of Prop A claimed that repealing the loss limit would generate millions of dollars in dedicated education funding for K-12 education. As a result, the Legislature voted to remove the 5 percent cap in 2009. Regrettably, the gaming revenue never materialized; the formula, on the other hand, has continued to grow at such a rate that we will never be able to fully fund it. Without legislative action, the foundation formula will not survive.
On Wednesday, I was joined by one of my Senate colleagues in presenting bipartisan legislation to the Senate Education Committee that will not only save the formula, but also make the goal of fully funding it attainable within the next couple of years. Very simply, the Senate Committee Substitute for Senate Bill 586 reinstates the 5 percent cap on current operating expenses that was contained in the original formula bill. The measure also specifies that charter schools are eligible to receive early childhood education funding in the same manner as the district in which they are located.
This one change will provide Missouri’s school districts with the consistency and reassurance they need in order to efficiently allocate their resources and effectively educate our students. The 5 percent cap is a fair component that has already been tested and approved by the courts. Most importantly, it will allow us to provide our schools, teachers and students with the resources they need to be successful for the long haul.
If you have any questions or comments about this or any other matter regarding your state government, please feel free to contact me at (573) 751-1503; you are also welcome to e-mail me at jay.wasson@senate.mo.gov.
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