1Develop and understand the goals of public education, why states invest in education, and the legal basis for financing public education.

2Develop and understand the sources of revenues for public education and the approaches used to raise and distribute funds for school district operations.

3Develop and understand the concepts of equity and adequacy and how these ideas are reflected in current state education policy and educational leadership practices.

4Develop and understand budgeting strategies and procedures used by educational leaders to influence student achievement outcomes and realize other school-based goals.