US Census Bureau:

The nation’s public school districts spent an average of $8,701 per student on elementary and secondary education in fiscal year 2005, up 5 percent from $8,287 the previous year, the U.S. Census Bureau reported today.
Findings from Public Education Finances: 2005, show that New York spent $14,119 per student — the highest amount among states and state equivalents. Just behind was neighboring New Jersey at $13,800, the District of Columbia at $12,979, Vermont ($11,835) and Connecticut ($11,572). Seven of the top 10 with the highest per pupil expenditures were in the Northeast.
Utah spent the least per student ($5,257), followed by Arizona ($6,261), Idaho ($6,283), Mississippi ($6,575) and Oklahoma ($6,613). All 10 of the states with the lowest spending per student were in the West or South.
The report and associated data files contain information for all local public school systems in the country. For example, in New York City, the largest school district in the country, per pupil spending was $13,755.
In all, public school systems spent $497 billion, up from $472.3 billion the previous year. Of these expenditures, the largest portions went to instruction ($258.3 billion) and support services such as pupil transportation and school administration ($146.3 billion).

Madison spends $13,684 per student ($333,101,865 2006/2007 citizen’s budget) / 24,342 students