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TALLAHASSEE (CBSMiami) – Miami-Dade Public Schools has a lot to be proud of.

Wednesday morning Superintendent Alberto Carvalho announced that a new survey ranked the Miami-Dade public school system number one for education spending efficiency.

The study, by Wallet Hub, found that Miami had the highest rate of return on educational investment among the 90 largest cities in the United Stated

Miami-Dade Public Schools’ education spending showed higher efficiency that large cities across the U.S. including New York, Los Angeles and Chicago.

“When you take into account household income, the percentage of English language learners and poverty level. It is amazing coming out of the recession, after dramatic cuts and spending across the country including Florida Miami-Dade soars on top” said Carvalho.

CLICK HERE to watch Marybel Rodriguez’s report

“It is Wallet Hub’s distinct pleasure to congratulate Miami on being named the U.S. city with the most efficient education spending,” the group said in a statement. “Miami rose to the top of this list of the country’s 90 most populated cities due to its combination of high average test scores and low education expenditures per capita.”

The way the study was conducted was based on each city’s aggregated standardized test scores in reading and math for grades 4 and 8 were divided by its total education spending per capita. The data was then normalized by four key socioeconomic factors: poverty rated and median household income single parent families and the percentage of households that do not speak English.

Miami is the largest municipality in Miami-Dade County home to M-DCPS, the nation’s fourth largest school district, with 350,000 K-12 students.

Marybel Rodriguez