The goal is to improve student performance in Anchorage schools.
Ideas from the summit will be debated during community meetings early next year.
A second summit will take place next spring.
Sullivan has previously said while school performance hasn't improved, spending has continued to increase.
"People don't mind spending the money if they see better results," said Sullivan, "and I think that's what we heard from the community dialogues about half the property tax people pay does go to the school district."
Some members of the school board said the summit is a good idea, but they're concerned it could become a political event.
"We need to get into a good discussion," said Pat Higgins, a member of the school board, "but vouchers is not the answer talking about teaching creationism as a science theory in schools is not the answer and talking about tenure is distracting form the conversation."
The summit will take place November 15 and 16.