Texas Board of Education Approves Significant Increase in School Funding
The Texas State Board of Education recently made a groundbreaking decision to allocate an additional $1.56 billion from the Permanent School Fund to schools across the state. This funding will be combined with the existing $600 million in the Available School Fund and distributed on a per-student basis. The aim of this increase is to provide much-needed financial support for various educational expenses.
The current method of funding Texas schools, which relies heavily on local property taxes, has been widely criticized. As of 2019, schools were allotted a mere $5,140 per student. With rising property values and discrepancies in living costs across different areas, it has become clear that the state needs to step up its funding efforts.
Earlier this year, Texas schools faced a financial crisis when legislation failed to vote on an increase in funding. As a result, teachers' salaries have not kept up with inflation, leading to a decrease in the number of teachers entering the education system. Many schools have been forced to dig into their own pockets to retain their teachers, creating a deficit budget situation.
However, the recent decision by the Texas Board of Education to add $1.56 billion from the Permanent School Fund to the existing $600 million in the Available School Fund will greatly alleviate the financial burden on schools. This increase in funding will provide much-needed support to schools across the state, ultimately benefiting both students and teachers.
Tom Maynard, a member of the State Board of Education, expressed his satisfaction with the decision, stating, "We are extremely pleased to be able to make historic contributions to our current students and teachers, while also preserving the PSF's ability to provide similar support for generations of Texans to come." Maynard, a strong advocate for the Permanent School Fund, believes in the importance of parental involvement in education and the need for challenging and relevant education for children.
Overall, this increase in funding marks a significant step forward for Texas schools. By providing more financial resources on a per-student basis, the state aims to address the funding disparities and ensure a higher quality of education for all students.
