As per the information provided by State and local government finance data approximately 43% expenditure is made by local government and around 19% expenditure is by the state government on education.
Therefore, total expenditure = 43 + 19 = 62%
This is the data of the year 2016.
In year 2018 the K12 spending was 34% and higher education almost same.
Thus, the answer must be about 50%.
State and local governments provide ________ of the spending on education about 90% about 25% about...
Which statement about taxation in the United States is TRUE? O a State and local governments rely more on sales and property taxes than does the federal government. b. State and local governments rely more on individual income taxes than does the federal government. O c. State and local governments rely less on wealth taxes than does the federal government. d. State and local governments rely less on property taxes than does the federal government. QUESTION 2 1 po Which...
Suppose a state is considering three different types of fiscal limits for local governments in the state--a maximum property tax rate, a limit that property tax revenue may not increase more than population and inflation rate together, or a limit that spending may not increase more than five percent. In each case, the limit may be exceeded by majority vote. Which limit is most restrictive and why? Contrast the three in terms of the sources of allowed increases in taxes...
What is the hierarchy of GAAP for state and local governments
The state government maintains an investment trust for itself and local governments in the state. The investment pool received $22,000,000 from the state general fund, $5,000,000 from the state university system (an enterprise fund of the state), and $15,000,000 from local governments located in the state. What amount should be reported in the State's Investment Trust Fund? Multiple Choice 0 $42.000.000 O $20.000.000 0 O $22,000,000 0 $15,000,000 0
Which of the following is not among the top five categories of state & local spending? Roads & Highways Healthcare Public Welfare Education
A state government establishes an investment pool and invites local governments to participate. It is not governed by a formal trust agreement which fund of the state government would report balances contributed by the local governments? Multiple Choice O Custodial Special Revenue vestment True
The federal government, state governments, and local governments are all governmental entities. Discuss whether the same conceptual framework, rule making bodies for financial reporting, and objectives of financial reporting are the same for all levels of government, and if not, why not.
In comparison with annual federal government revenues, state and local governments took in a) just under half as much b) three times more c) a nearly identical amount d) about 30% more
26. Government purchases include spending on goods and services by a. the federal govermment, but not by state or local governments. b. federal and state governments, but not by local governments. c. federal, state, and local governments. d. federal, state, and local governments, as well as household spending by employees of th governments. 4 Which of the following can be measured by the level of real GRP n? a. productivity and the standard of living b. productivity but not the...
Provide two reasons why states and local governments may want to maintain their contrasting fiscal year; Name one budget decision made on the state or federal level that you disagreed with and explain why. Why do you think the legislature made the decision they did?