American Public School Finance

by William A. Owings, Leslie S. Kaplan

Overview

Designed for aspiring school leaders, this fully updated fourth edition presents the realities of school finance policy and issues, as well as the tools for formulating and managing school budgets. In an era of dwindling fiscal support for public schools, increasing federal mandates, and additional local budget requirements, educational leaders must be able to articulate sound finance theory and application. The authors move beyond coverage found in other texts by providing critical analysis and unique chapters on misconceptions about school finance; fiscal capacity, fiscal effort, adequacy, and efficiency; demographic issues; districts’ strategic plans’ role in budgeting; and spending and student achievement. Examining local, state, and federal education spending, this text gives readers the foundation to understand school finance and knowledgeably educate colleagues, parents, and other stakeholders about its big-picture issues, facts, and trends. The fourth edition of American Public School Finance helps educational leaders at all stages of their careers become informed advocates for education finance practice and reform.

New in this edition:

• Updated discussion of school choice; the pandemic’s impact on student enrollment, funding, and learning; challenges to the structure of school finance; and equity implications of school funding
• Refreshed case studies, focus questions, and chapter assignments
• Updated online supplemental resources, including PowerPoint slides and other additional chapter resources accessible at www.routledge.com/cw/owings

Product Details

ISBN-13:	9781032943862
Publisher:	Taylor & Francis
Publication date:	09/29/2025
Edition description:	4th ed.
Pages:	392
Product dimensions:	7.00(w) x 10.00(h) x (d)

About the Author

William A. Owings is late Professor Emeritus of Educational Leadership at Old Dominion University, USA, and has been a teacher, principal, assistant superintendent, and superintendent of schools. In 2023, the National Education Finance Academy honored him with the Lifetime Achievement Award.

Leslie S. Kaplan is a retired school and district-level administrator and a full-time education writer. Kaplan is a former Adjunct Professor of Educational Leadership at Old Dominion University, USA, and she served over two decades on the National Association for Secondary School Principals Bulletin Editorial Board.

Table of Contents

1. Misconceptions About School Finance  2. History of School Finance in the United States  3. The Legal Framework for Financing Public Education  4. Education as an Investment in Human Capital  5. Taxation Issues  6. Fiscal Capacity and Fiscal Effort  7. Equity, Adequacy, and Efficiency  8. The Structure of School Finance Systems  9. Demographics and School Finance  10. Budgeting: Applying Policy Values  11. Spending and Student Achievement  12. Critical and Emerging School Finance Issues  

Editorial Reviews

The 3^rd edition of American Public School Finance builds on the previous two editions and provides up-to-date information and statistics on current topics and issues. The focus questions, case studies, and chapter questions/assignments provide instructors with resources to teach and assess student understanding of key concepts and information. Most important, Owings and Kaplan write in a style that is scholarly, but that graduate students in school leadership can understand and emulate. Finally, this new edition coordinates the chapter content with the ten Professional Standards for Educational Leaders (PSEL) making it easier for professors to map their course content and key assessments to the standards.
—Marily Hirth, Associate Professor, Educational Leadership and Policy Studies, Purdue University

From the Publisher