Yesterday, we explained how Missouri compares against national averages for federal, state, and local public education funding. Today, we’ll explore primary sources of state-level funding for our schools.
In Fiscal Year 2014, Missouri will invest $3,385,298,854 in elementary and secondary education. That $3.4 billion will cover 31.76% of Missouri’s K-12 public education costs. The schools will look to the federal government for 10.13% of their overall state education funding, and to local sources for the remaining 59.01%.
Of the $3.4 billion Missouri will spent on public education in FY14, 83.7% comes from Missouri’s General Revenue, and the rest comes from gaming, lottery, and other sources.
State General Revenue (83.7%)
Missouri’s General Revenue funds most of the state’s primary functions, including social services, health care, and public education.
General Revenue is collected from individuals and business in Missouri through individual income taxes, sales and use taxes, corporate income taxes, corporate franchise taxes, refunds, and other collections.
The Missouri Gaming Commission regulates charitable and commercial gambling in Missouri. Each year, the Commission ensures that a portion of Missouri’s gaming revenues is allocated to supporting public education. In recent years, gaming has directly contributed to Early Childhood Development, Education and Childcare in the state.
The Missouri Lottery is another significant source of support for Missouri’s K-12 public schools. Each year, the Lottery appropriates funds for public education through Missouri House Bills 2, 3 and 6.
To see exactly how the Lottery has divided its allocations, click here.
Public schools are also funded through an assortment of smaller “other” funds. These funds include the Fair Share Fund revenues which are generated from tax receipts from four cents per cigarette pack; County Foreign Insurance Tax with comes from a tax on insurance premiums of companies not based in Missouri; and many other smaller revenue sources.
Learn More About Missouri’s Schools
If you want to know more about K-12 public education in Missouri, you can subscribe for MOParent email updates at the top of this page.
To learn more about funding for Missouri’s schools, be sure to read yesterday’s post, “Where Does Missouri’s Public Education Funding Come From?”.
Posted on Mon, September 23, 2013
by MOParent filed under