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31 Cards in this Set
- Front
- Back
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equal funding for all
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equity
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minimal level of funding needed to support student learning
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adequacy
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the amount of money a district levies to cover the budget
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need
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our belief system/public responsibility as a school leader
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values
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school districts are large interrelated systems
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systems theory
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theory that each district is unique; individual policy making
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institutionalism
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theory to maximize social gains
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rationalism
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free will; right to act way we see fit
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liberty/freedom
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what we do to get a return on our investment; money generates maximum return-
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efficiency
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development of skill sets to build economic growth
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economic growth
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funds public education
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10th amendment
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money paid to schools for ADA for the previous 3 years
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General State Aide
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financial plan developed yearly
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budget
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taxes applied to wages earned
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income taxes
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taxes applied to the ownership of property
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wealth taxes
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tax placed on goods or service
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sales and excise tax
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money tax generates to cover the expenditures
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yield
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measure of the effect of economic change on tax receipts-inflation
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elasticity
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taxes collected increase as income increases
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progressive tax
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same tax percentage is applied to everyone
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proportional tax
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taxes take a decreasing amount of money as persons income increases
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regressional tax
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Amount of school districts NEED for property tax for each fund
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levy
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PTELL-control the growth of property taxes
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Tax Cap
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process that county clerk calculates a districts tax rate
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extension
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taxable value placed on property
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assessed valuation
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receipt of a property owners payments by the county treasurer
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collection
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property's valuation after county and state equalization is applied
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EAV-
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amount of property tax extended; %age of the EAV
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tax rate
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calendar year in which property is assessed and the levy is made
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tax year
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the total EAV of a school district
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tax base
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budgets are divided by purpose
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fund
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