A study of the school funding formula created by SB 287 in Missouri
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The purpose of this study was to investigate the methods of determining adequacy and equity through SB 287. The study examined the assumptions used in the calculation of adequacy and the extent to which the formula is successful in improving equity over the former formula that was developed by SB 380 in 1993. The researcher collected data from the Missouri Department of Elementary and Secondary Education. This data was used in correlation analysis to determine relationships between variables used to calculate the adequacy target. Correlations were performed between expenditure per pupil and APR scores, expenditure per pupil and percent free and reduced, expenditure per pupil and percent special education, and expenditure per pupil and percent limited English proficient. In addition, revenues per ADA under SB 380 were compared to revenues per ADA under SB 287 by calculating the coefficient of variation and the federal range ratio. Results of the study indicated that there was little correlation between the variables used to develop the adequacy target. This seemed to indicate that the successful schools method used in SB 287 to determine adequacy was invalid because it was based on the assumption that the variables are related. In addition, the results of the study indicated that the method of distributing funds decreased the variation in the amount per ADA. As a result, SB 287 seems to improve equity over the SB 380 formula.