Expert urges Wyoming to update ECA and RCA, propose 2025 hedonic wage index
Lori Taylor, head of the Department of Public Service and Administration at Texas A&M University, told the Select Committee on School Finance that Wyoming should update both its external cost adjustment and its regional cost adjustment, using Wyoming‑specific wage indices for labor and Bureau of Economic Analysis measures for energy and materials.
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Lori Taylor, who identified herself as head of the Department of Public Service and Administration at Texas A&M University, told the Select Committee on School Finance that price differences across time and place mean "cost adjustments are an essential part of any funding formula that a state wants to implement in order to achieve equity with respect to real resources." Taylor spoke to the committee on behalf of an updated methodology for Wyoming's external cost adjustment (ECA) and regional cost adjustment (RCA).
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