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. . ATTACHMENT B <br /> .. Pit � <br /> N FINANCE STTJDY <br /> PUBLIC SCHOOL <br /> A _ FORUM <br /> > INTRODUCTION <br /> For more than 30 years,the Public School their students'needs.This,coupled with simultaneously making less taxing effort. <br /> Forum of North Carolina's Local School increasing costs for education stemming Because wealthier counties have more <br /> Finance Study has shined a light on from population growth and a changing taxable resources,they are able to keep tax <br /> variations and changes in local spending economy,has forced local districts to take rates low while still generating significant <br /> for public education across the state.The on a larger share of instructional expenses, revenue.Conversely,lower wealth counties <br /> purpose of this annual study is to isolate exacerbating inequalities in educational with fewer taxable resources have to <br /> local spending from state and federal opportunities between those with the least make greater taxing effort to support <br /> spending to examine the capacity and and the greatest need. their schools.Thus,residents living in <br /> actual effort of counties to support public lower wealth districts face substantially <br /> schools.The Local School Finance Study Our research has identified two key trends greater financial burden to support <br /> focuses not only on the amount that in local school finance that have led to public education while at the same time <br /> counties spend on schools,but also on each deepened educational inequality across finding that their schools are more poorly <br /> county's investment in relation to their districts over time. resourced than those in wealthier counties. <br /> taxable resources. <br /> First,there is a widening gap between These funding disparities have tangible <br /> Under North Carolina's school finance wealthier counties and those with lower impacts in North Carolina classrooms. <br /> system born more than eight decades ago, levels of wealth.As a result,there is a Local salary supplements for educators are <br /> it is the state's responsibility to pay for growing disparity in counties'abilities to generally greater in high-wealth and larger <br /> instructional expenses(including personnel) provide their schools with the resources districts,which better positions them to <br /> while county governments pay for capital they need, particularly given the increasing attract and retain top talent.Rural districts, <br /> expenses(buildings and maintenance). role of local spending over time. which already face challenges in recruiting <br /> Cuts to the state budget during the Great and retaining highly skilled teachers,are at <br /> Recession,however,have yet to be restored Second,we demonstrate that wealthier an even greater disadvantage if they are <br /> to pre-recession spending levels,leaving counties are able to allocate more not able to offer competitive pay.In low- <br /> districts across the state struggling to meet local dollars to public schools while wealth districts,schools are often unable <br /> I INTRODUCTION 16 NOTES ON METHODOLOGY <br /> 4 HIGHLIGHTS OF • OF ADJUSTED PROPERTY <br /> VALUATIONS PER STUDENT <br /> • •• EFFORT <br /> 19 TABLE 2A:SIX-YEAR AVERAGE OF CAPITAL <br /> • OUTLAY AND . <br /> EFFORT•' . FORLOW-WEALTH <br /> z 21 TABLE 4:ABILITY TO PAY <br /> • • PAYS FOREFFORT• GAPS AND T 23 RENDS 2019 • <br /> LOCAL15 ON POLICIES <br />