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Title:Capital outlay in fifty states: An analysis to determine an equitable model for Illinois
Author(s):Schroeder, Richard A.
Director of Research:Alexander, Kern
Doctoral Committee Chair(s):Alexander, Kern
Doctoral Committee Member(s):Herrmann, Mary; Bruno, Paul; Pak, Yoon
Department / Program:Educ Policy, Orgzn & Leadrshp
Discipline:Ed Organization and Leadership
Degree Granting Institution:University of Illinois at Urbana-Champaign
Subject(s):Capital Finance
Abstract:The purpose of this thesis was to explore the methods of capital funding/outlay across the United States. Using a framework that classified capital funding models at the state level, the researcher was able to identify each state’s method of funding capital costs. The following questions were the focus of the study: 1. What are the current school capital funding/outlay models used in the United States? 2. What are the advantages/disadvantages of each capital funding model? 3. What is each state’s capital funding/outlay model? 4. What is a more equitable capital funding/outlay model for states like Illinois to consider? Throughout the study, the researcher sought to identify the current methods of capital funding/outlay while seeking the advantages and disadvantages of each model. Following an overview of background school finance information the researcher presented findings that included a summary of each state’s capital funding/outlay model. Advantages and disadvantages of each capital funding/outlay model were discussed, paying close attention to the perspective of each model from the local vs. state point of view. Finally, a more equitable capital funding/outlay model was presented for consideration in the State of Illinois (and other states in our nation). The new capital outlay/funding model was grounded in the best-practice ideas from states and included 5-Parts that included a facilities commission, a well-timed audit of K-12 school facility needs, a centralized borrowing plan, establishment of minimum requirements for K-12 facilities, and an equalized payback formula based on local fiscal capacity.
Issue Date:2020-11-23
Rights Information:© 2020 Richard A. Schroeder
Date Available in IDEALS:2021-03-05
Date Deposited:2020-12

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