All this week, Michigan Radio is doing a series on Paying for Michigan Schools. I'm linking to the first piece in the series. (Depending on your browser, you might need to scroll down.)
One thing I learned today: the schools and state budgets used to be on the same calendar (starting July 1), until at some point--in a sleight of hand destined to make the state budget balance--the state legislature moved the state's fiscal year to October. Of course, they could never afford to go back.
UPDATE: Here is the link to the full series.