An interesting article on school funding...
From the Sacramento Bee.
If he's right, and I wouldn't mind seeing the original numbers, than less school money is wasted on administration than the popular mythology would have you believe. Still doesn't explain why many private schools accomplish more with less money, but there it is.
I agree that for what they do, teachers are seriously underpaid, but that's just a personal opinion after seeing the amount of backbreaking work my kids' teachers do.