Thank you for making that very important point.
That looks like ~28% of the state budget, and per-student spending appears to very high (the 4th highest in the U.S.). Washington is spending 1.5X per student as compared to California, and is apparently not seeing commensurate improvements. I wonder if there are folks working on debugging the apparent inefficiencies of state education systems.
It's often not even state budget in the US. In the case of my town, while I believe some money comes from the state in the form of grants etc., about 60% of my town's property taxes go to funding the elementary school and a split (with two other towns) of the regional high school district.
My state of Washingon spent $17.5 billion on schooling this year, on top of that federal funding.