Texas school-finance reforms implemented in response to the 1989 Edgewood Independent School District v. Kirby state supreme court ruling have impacted school districts differently. A study of four school districts, two poor and two wealthy, examined how these districts responded to changes in the school-finance system and the state's educational reform efforts. In terms of finance, poor districts have benefited tremendously from the equalization component of the new school-finance system. One of the districts studied received more than $11 million in new funds in 1991-92, or nearly $1,000 per student in additional funds. However, per student expenditures have remained virtually constant in the wealthiest district, despite a property tax rate increase. Three of the four districts gave teachers pay increases of about 6 percent. Teachers in the wealthiest district received no salary increase for 1991-92. In the poorest district, more than half of the new funds were used for one-time expenditures. The other poor district increased teacher salaries and improved staff development. All four districts took steps to implement site-based management as mandated by the state. However, finance reforms have hindered wealthy districts' ability to institute programmatic reforms, while poor districts lack the institutional framework to do so due to years of low funding. (JPT)