EQUITY IN THE SCHOOL FINANCE PROGRAM
Missouri's Outstanding Schools Act requires a level of equalized school funding through changes to the foundation formula payment to school districts. One change assures a foundation of financial support to purchase education services for all children by providing a minimum amount of revenue per pupil. For a range of tax rates up to $4.60, the state guarantees equal access to state and local revenue. The state also provides an incentive to vote for a higher local tax rate to leverage additional state funds for purposes of enrichment. It is estimated that beginning July 1, 1996, when full funding is achieved under the new formula, nearly all school districts in the state will be within plus or minus six percent of the state average in revenue per pupil per penny of tax rate. In addition, the state provides categorical funding and at-risk funding as an add-on for unequal treatment of children who are unequal in terms of their educational needs. The formula will be monitored to ensure that the intent of the equalization provisions are maintained.