America’s Trillion-Dollar School System: 5 Trends Explain Where the Money Goes
In April, the National Center for Education Statistics reported that the 50 states and Washington, D.C., took in $1 trillion in federal, state and local revenue for K-12 public education in the 2023-24 school year.
One. Trillion. Dollars.
That’s a remarkable milestone. And while it doesn’t tell the whole story — it represents only revenues, not expenditures — it speaks to five trends that help explain where K-12 finance stands today.
More money, fewer students
On an inflation-adjusted basis, schools had 22% more money to spend in 2023-24 than a decade earlier. One-time federal relief funds played a role here, and as a result, federal revenues had the largest jump in percentage terms (up 65%). But schools rely much more heavily on state and local funding, and those revenues also rose by 18% each. Meanwhile, schools served about 500,000 fewer students, a decline of 1.1%.
Put differently, schools are serving fewer students with substantially more money than they did a decade ago.
The national averages mask wide variation across the states
On average, public schools spent $17,619 per student in the 2023-24 school year. But there was enormous variation, with places like New York and the District of Columbia spending more than $30,000 per student, while states like Idaho, Utah, Arizona, Oklahoma and Mississippi spent closer to $11,000 or $12,000 per child.
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2026-2027 Madison K-12 $pending continues to grow, fueled by a 9.7% (!) property tax increase. Total spending will be at least $706,000,000 for 25,003 students, or $28,236 per student.
May 2026 Madison School District Presentation: 7,095 adults for 25,003 students (3.52 students per adult!)
Early Literacy Screener Map.
Map: Foundations of Reading Results: 2015–2024
Where have all the students gone?
3,887 Madison 4 year old to third grade students scored lower than 75% of the students in the national comparison group.
Madison taxpayers have long supported far above average k-12 tax & $pending. This despite our long term, disastrous reading results. May, 2026: 7,095 Staff for 25,003 students; $pending > $26k per student!
Madison Schools: More $, No Accountability
The taxpayer funded Madison School District long used Reading Recovery…
The data clearly indicate that being able to read is not a requirement for graduation at (Madison) East, especially if you are black or Hispanic.
My Question to Wisconsin Governor Tony Evers on Teacher Mulligans and our Disastrous Reading Results
2017: West High Reading Interventionist Teacher’s Remarks to the School Board on Madison’s Disastrous Reading Results
Madison’s taxpayer supported K-12 school district, despite spending far more than most, has long tolerated disastrous reading results.
“An emphasis on adult employment”
Wisconsin Public Policy Forum Madison School District Report[PDF]
WEAC: $1.57 million for Four Wisconsin Senators
Friday Afternoon Veto: Governor Evers Rejects AB446/SB454; an effort to address our long term, disastrous reading results
Booked, but can’t read (Madison): functional literacy, National citizenship and the new face of Dred Scott in the age of mass incarceration.
When A Stands for Average: Students at the UW-Madison School of Education Receive Sky-High Grades. How Smart is That?
