The gap in the available information on the state of American Education is discussed. This inadequacy is traced to two causes: (1) Data are not organized in ways that would facilitate policy formation and (2) Data are scattered among a variety of agencies. Formulating effective public policy for the support of elementary and secondary education requires a knowledge of (1) the demand for various kinds of educational services, (2) estimates of the costs of those demands, (3) a conception of equity in the distribution of educational services and of the costs of those services, and (4) a continuous monitoring and evaluation of the financial and educational impact of federal programs in particular, and of American education more generally. To develop recommendations for improving the availability of information to those interested in questions of educational finance policy, the availability and usefulness of information on the important information on the nation's educational agenda were examined and catalogued through interviews, questionnaires, and staff analysis. The results of this research indicate that the present system of educational information fails to serve the requirements of those who need timely, reliable, and relevant information about the nation's educational problems. It is recommended that the Office of Education produce this information. (For related document, see ED 058 473.) (Author/CK)