The Economics of Education & Financing Education Adequately - Case Essay

The Economics of Education & Financing Education Adequately - Case Study 6 - Essay Example On the other hand, individuals with Bachelors Degree was reported to increase from 6.6% in 1990 census to 9.3% based on 2005-2009 survey (TACIR, 2012a, p. 13). Furthermore, the fact that the rate of drop out decreased from 13.4% between 1998-1999 to 1.3% between 2008-2009 shows a good sign of educational improvement (p. 16). To improve the education system in Fentress County, its local government officials allocated US$12,000 for K-12 new school construction, US$7,125 on school system-wide need, US$5,000 for non K-12 education, US$2,925 for existing school improvements, and US$400 for librairies, museums, and historical sites (TACIR, 2012a, p. 12). Putnam County had 9.7% unemployment rate as of June 2011 (TACIR, 2012b, p. 8). As of fiscal year 2010, the total revenue received by the Putnam County is US$144,086. Coming from the State government, Putnam County received US$39,451 (27.4%) for public schools and US$6,044 (4.2%) for other necessities. Aside from receiving US$14,367 from the Federal revenue, Putnam County collected US$35,426 (24.6%) from property tax, US$29,445 (20.4%) from local sales tax, and US$19,352 (13.4%) from other local taxes (p. 11). Based on 2005-2009 survey, individuals with high school diploma is composed of 79.0% of its total population as compared to 63.2% based on 1990 census. On the other hand, individuals with Bachelors Degree was reported to increase from 16.8% in 1990 census to 21.7% based on 2005-2009 survey (TACIR, 2012b, p. 13). Furthermore, the fact that the rate of drop out decreased from 15.8% between 1998-1999 to 10.8% between 2008-2009 shows a good sign of educational improvement (p. 16). To improve the education system in Putnam County, its local government officials allocated US$47,400 for K-12 new school construction, US$153,560 for non K-12 education, US$43,828 for existing school improvements, and US$871 for