Let's denote last year’s budget as \( x \).
According to the problem, the school plans to spend twice the amount it did last year, which is \( 2x \). However, they will not be spending the cost of the disco ball, which is $150. Therefore, the equation can be expressed as:
\[ 2x - 150 = 1500 \]
So, to fill in the blanks in your format, we have:
(a - 150) = 1500, where \( a = 2x \).
Thus, the complete equation is:
\[ (2x - 150) = 1500 \]