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U.S. School Revenue Dropped in 2012 for First Time in 35 Years

May 22 (Bloomberg) -- Public elementary and secondary schools saw annual revenue decline $5 billion in 2012, the first drop since 1977, according to a U.S. Census Bureau report.

Total expenditures fell for a third consecutive year, to $594 billion, a drop of $2.5 billion, according to the study of the 50 states and the District of Columbia issued today in Washington.

New York was the top spender, at $19,552 per pupil. The District of Columbia, Alaska, New Jersey and Connecticut rounded out the top five.

The states spending the least per pupil were Utah, at $6,206, followed by Idaho, Oklahoma, Arizona and Mississippi.

State governments were the leading source of support for public schools, with $270 billion provided in 2012. Local taxes followed closely at $265 billion, the report said.

To contact the reporter on this story: Tim Jones in Chicago at tjones58@bloomberg.net

To contact the editors responsible for this story: Stephen Merelman at smerelman@bloomberg.net Stacie Sherman

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