Arkansas

Abstract

This article examines changes in educational funding for fiscal year 2023 in the state of Arkansas in the United States. In 2023 the state was ranked 47th in education attainment, 37th in per- pupil spending for public K-12 schools and had the 5th highest poverty rate in the United States. The state legislature passed a minimum starting teacher salary of $50,000 for the 2023–2024 school year, up from $34,900. The legislation also provided an increase of $2,000 to teachers who were already making $50,000 or more. This increase in teacher salaries is estimated to cost the state $180 million each year. The legislature also increased the foundation funding amount per pupil by $205 and increased most categorical funds by roughly two percent. Arkansas uses a productivity funding model as its method of funding higher education but only increased higher education funding by 1.5%. The Arkansas LEARNS Act created a voucher system whereby any student who is eligible to enroll in a public school can receive funding to attend a private school or be homeschooled. This system will be fully implemented in three years enabling any student to be eligible for funds. The state spends approximately 31% of its budget on P-12 education and 15% on higher education.