Wisconsin State Journal Editorial:

Madison school chief Dan Nerad’s plan to close the district’s achievement gap is certainly bold about spending money.
It seeks an estimated $105 million over five years for a slew of ideas — many of them already in place or attempted, just not to the degree Nerad envisions.
The school superintendent argues a comprehensive approach is needed to boost the academic performance of struggling minority and low-income students. No one approach will magically lift the district’s terrible graduation rates of just 48 percent for black students and 57 percent for Latinos.

Much more on the proposed Madison Preparatory IB charter school, here.
Related:

Listen to most of the speech via this 25mb .mp3 file.

Well worth reading: Money And School Performance:
Lessons from the Kansas City Desegregation Experiment
:

For decades critics of the public schools have been saying, “You can’t solve educational problems by throwing money at them.” The education establishment and its supporters have replied, “No one’s ever tried.” In Kansas City they did try. To improve the education of black students and encourage desegregation, a federal judge invited the Kansas City, Missouri, School District to come up with a cost-is-no-object educational plan and ordered local and state taxpayers to find the money to pay for it.
Kansas City spent as much as $11,700 per pupil–more money per pupil, on a cost of living adjusted basis, than any other of the 280 largest districts in the country. The money bought higher teachers’ salaries, 15 new schools, and such amenities as an Olympic-sized swimming pool with an underwater viewing room, television and animation studios, a robotics lab, a 25-acre wildlife sanctuary, a zoo, a model United Nations with simultaneous translation capability, and field trips to Mexico and Senegal. The student-teacher ratio was 12 or 13 to 1, the lowest of any major school district in the country.
The results were dismal. Test scores did not rise; the black-white gap did not diminish; and there was less, not greater, integration.

And, In Kansas City, tackling education’s status quo “We’re not an Employment Agency, We’re a School District”