Fiscal Focus: The Community College Funding Formula--A Look at Its Components.

Autor/in	Summers-Coty, Kathryn
Institution	Michigan State Legislature, Lansing. House of Representatives Fiscal Agency.
Titel	Fiscal Focus: The Community College Funding Formula--A Look at Its Components.
Quelle	(1998), (52 Seiten) PDF als Volltext kostenfreie Datei Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Monographie
Schlagwörter	Community Colleges; Educational Equity (Finance); Educational Finance; Financial Needs; Financial Policy; Financial Support; Funding Formulas; Instructional Student Costs; School Funds; School Support; State Aid; Two Year Colleges; Michigan + Suchen Sie Ihr Suchwort? Community college; Community College; Bildungsfonds; Fiscal policy; Finanzpolitik; Finanzielle Förderung; Funding; Finanzierung; Schulförderverein
Abstract	The state of Michigan instituted the Gast-Mathieu Fairness in Funding Formula in order to equitably apportion state monies to state community colleges. This report examines the Gast-Mathieu Fairness in Funding Formula, and explains and illustrates how the formula works, while documenting how and when it has been used in making state appropriations to the community colleges. The Formula was first used to distribute funds in FY 1984-85. The Formula calculates a dollar amount need for each college based on instructional and non-instructional costs, tax equalization grants, local and student funding responsibility, and other sources of revenue. The Formula applies statewide average cost factors to activity measures specific to each college, thereby estimating the total expenditures each college should expect to incur. This is called "Gross Need," and is a summation of instructional and non-instructional costs. Tax equalization grants are added to Gross Need as a separate component. Instructional Need accounts for 48.6% of the entire Target Need for colleges. State appropriations for FY 1997-98 were expected to total over $275 million, or 40% of total community college funding. Presents figures for three fictitious community colleges applying the Formula. (Contains 12 figures and 4 tables.) (NB)
Erfasst von	ERIC (Education Resources Information Center), Washington, DC