Valid email addresses are required to post comments. If your comment is not posted, I will send you an email with an explanation.

Wednesday, January 4, 2012

Proof Of The Pudding

Last night's Blog post renewed a plea that school district's define themselves in terms of investments and economic engines. This was not the first time I proposed that there is a significant difference between spending (i.e. merely adding a percentage increase to the annual operating budget equal to the consumer price index, like a blatant yearly tariff to taxpayers, without reference to effectiveness in instructional programming or practices) and strategic investments (i.e. applying funds toward leverage points to make a difference in the future and maximize pursuit of the mission of the system as a return for the fiscal input of taxpayers).

But wait, some may shout, what about taxpayers without kids? What about taxpayers without kids in public schools, who send their kids to private, parochial, or charter schools instead? What about taxpayers with kids who feel they already pay enough taxes? Well, approximately 3/4 of all households in our nation fit into the first two categories - they either have no kids, or have no kids attending public schools. That makes it a daunting challenge to successfully pass school budget votes. That makes it even more imperative that we communicate to all taxpayers a careful explanation of the value generated by investments in public schools.

That's exactly what the Virginia Beach City Public School District did! Today, coincidentally, the national publication, Education Week, presented the findings of a study conducted by economic consultant, Michael L. Walden, Ph.D. on the economic impact of that Virginia school system.

I'll provide a glimpse of the executive summary and follow that with a link to the actual article.

"The Virginia Beach City Public School System has large and significant economic impacts on the economy of the Virginia Beach-Newport News Metropolitan Area. Every $1.00 spent and retained in the regional economy from the school system's operating budget results in total regional spending of $1.53, and every one direct job in the district is associated with another 0.64 jobs in the regional economy. Also, every $1.00 spent and retained from the district's capital budget results in total spending of $1.55. and every $1 million of district capital spending is associated with 12.6 jobs in the region.
More important are the three major outputs of the school system: the economic value of degrees awarded, the future reduction in public costs associated with individuals attaining a high school degree, and the impact on local property values and revenues from the academic performance of the district's students."

Here's the link for the entire report: 

No comments:

Post a Comment