5. Every state has its own formula
and system for financing
education, with responsibility for
providing a level of funding
necessary for a basic education
shared between the state and local
districts
6. Because local funding is so
important to public education, the
amount of money particular
schools receive tends to vary
dramatically, depending largely on
property values, not just from state
to state but from district to district,
and from year to year.
7. School funding sources
Schools receive three types of funding through
the Ministry of Education.
1. Operational funding – commonly called BG
or Bulk Grant
2. Staffing entitlements – commonly called TS
or Teachers’ Salaries
3. Property funding for capital works and
funding for special activities.
8. The Resourcing Division administers
Operational funding and Staffing
entitlements while the Education
Infrastructure Service (EIS) administers
property funding.
Schools can also generate income
from certain activities such as fundraising,
donations and parent payments, trusts or
fee-paying students.
9. The importance of school
finance is vital to an
organization. It is a
pathway to attain goals
and objectives.
