|Estimating the Cost of an Adequate Education in New York|
Center for Policy Research
Uploaded by: Pocket Masters
Pockets: New York State School Finance Reform Archive, School Funding Plans
Tags: funding, reform
Description/Abstract: The objective of this study is to develop estimates of the costs of financing the achievement of higher standards. The key tools employed to estimate the cost of adequacy are education cost functions and cost of education indexes. The cost function approach uses statistical methods to extract from actual data the relationship between characteristics of students, the cost of living in an area, and the spending required to meet different performance standards. As long as recent history is a good predictor of the near future, the cost function approach should provide reasonably accurate estimates of the cost of adequacy.