Argues that standards-based education reform has shifted the focus of school finance from equity to adequacy. Requires an explicit connection between the funding provided to schools and the results produced in terms of student learning. (Contains 19 references.) (MLF)

Recent court decisions and legislation show that an adequate school finance formula must provide sufficient money so public schools can teach all students. Four different approaches for determining school finance adequacy are: (1) determining the economic cost of various educational functions; (2) linking spending to performance benchmarks; (3)…