Certainly agree with that.
But..
I have a teacher friend that told me the schools get paid according to their attendance each day. If the attendance falls below a certain percentage they lose money. IIRC 90%.
The school actually goes out on the street and pulls people in to make the quota on lean days. Strangers!!
Your teacher friend is partly correct - the school does lose something if students do not attend - but it is not necessarily money, it is NCLB certification. In fact, the school in which I teach was not certified last year due to missing too many benchmarks and one of those was special education attendance by males. We missed the target by the equivalent of 2 days for 1 child. It did cost the school money, I'm not sure how much, but at the least it was quite embarrassing to be the only school in the district to not meet requirements.
In the case of 1 specific student who was bordering on truancy, the school resource officer went and picked him up several times - at the parent's request.