Earlier this month, the Kansas Supreme Court rejected the state’s school finance system, saying it violates the constitution. The next day, a California school was in the spotlight as it reaped a financial windfall that will enable it to comfortably provide for its students, staff and facilities.
School funding often is a contentious issue at all levels of government. In Kansas’ situation, this isn’t the first time the court ruled against the state in regards to school funding. The case was first brought in 2010 and has resulted in a number of court rulings over the years. It was broken into two parts: one dealt with funding being equitably allocated among school districts and the other focused on funding adequacy provided to schools.
Last year, it was ruled that the state’s school funding was inequitable. Lawmakers made changes that were approved by the court. The new ruling, however, is in regards to funding adequacy. The court has given lawmakers until June 30 to pass legislation that addresses the funding deficiencies.
While Kansas lawmakers were dealt a funding dilemma, a West Coast school was provided a funding windfall.
A $15,000 investment made five years ago by a Catholic high school in Mountain View, Calif., resulted in a $24 million payday the school plans on putting to good use. All as a result of a parent that was generous enough to bring the school into an investment he was involved with.
St. Francis High School was invited to invest in Snap (creator of the mobile app Snapchat) in its seed round of funding in 2012. When the company went public earlier this month, the school sold approximately 1.4 million of its more than 2 million shares—resulting in $24 million it can add to its reserves.
Although the school hasn’t yet decided how to spend the money made from the investment, it did report that the money would not be used for day-to-day expenses. Officials say student financial aid is a top priority.
School funding has had its share of misses over the years, so it is welcoming to see an education institution have a hit—in fact, a home-run—on the financial front that will benefit students, staff and facilities.
