Spending on the education apparatus is not spending on the education of the child. Local teacher salaries are the same here as they've been for the past 10+ years, while the school's budget has gone up millions.
Administration and overhead is a self-perpetuating growth industry. Also renovating buildings, changing standards for buses and playgrounds and such - tons of cash around educating the kids, but still, the teachers and books and such are the last to get anything.