The National Institute on Educational Governance, Finance, Policymaking, and Management of the U.S. Department of Education has contracted with the National Academy of Sciences to conduct a comprehensive study of education finance. The study will focus on financing K-12 education in the United States.
The fundamental purpose of this study is to substantially advance the theory and practice of education finance in the United States of America. The work will focus on the following key question: How can education finance systems be designed and implemented to (1) provide the capacity and incentives to assure that all students achieve high levels of learning, and (2) assure that education funds are use in the most productive manner possible? To achieve these ends requires a comprehensive study of the complex legal, economic, structural, and pedagogical issues that surround the relationship between that field of education finance and student achievement.
The National Academy of Science (NAS) will convene a Committee on Equity, Adequacy, and Productivity in Education. This Committee will be composed of experts of the highest reputation. The Committee will be deliberately composed to reflect the best knowledge, research, and experience on the constellation of critical issues surrounding the area of education finance. The Committee will consist of up to 20 members drawn from such areas of expertise as school finance policy, economics, law, the psychology of learning, program evaluation, quantitative and qualitative analysis, measurement and assessment, management, the sociology of organizations, teacher professional development, education technology, education research. The committee will include both the highest caliber scientists and individuals with practical experience at the state, district and school house level. The Academy will also establish technical panels to assist the committee. These technical panels will focus on such critical topics as legal issues, finance models, or the development of indices of education need and methods for measuring need.
The study commenced September 30, 1995 and will be conducted over a 3 1/2 year period.
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