Schools are absolutely guilty of underpaying teachers and overpaying admin. Many probably mismanage their funds to some degree. And a lot spend way too much on sports stadiums and other things they probably could do without.
But don’t forget, they also have to shell out tens of millions of dollars all at once when their infrastructure needs to be fixed or updated. If the student population grows, they may be on the hook to build entire hallways full of classrooms and the necessary technology for each room. Usually they sock money away knowing that things have limited lifespans. Even still, many unplanned expenses and planned updates have to wait due to lack of funding.
Of course the kids don’t know how to read them. Kids rarely encounter analog clocks and when they do, they have several digital clocks within arms length. Most people wouldn’t reach for a slide rule when they have a calculator.
And to be fair, analog clocks are objectively worse than digital clocks in every way aside from aesthetics.