This report is the fourth edition that has appeared under the title, "Understanding Financial Support of Public Schools." It explains legislation enacted by New York State providing financial aid to schools during 1978-79. The report was designed to help the interested citizen, the school board member, and members of civic organizations understand distribution of state aid to the school districts of New York State. It covers operating aid, which accounts for approximately 75 percent of the estimated total general aid to be paid in 1978-79. Also covered are transportation (9%), buildings (7%), and Boards of Cooperative Educational Services (4%). The appendix lists other aids available to some districts and provides a section on federal aid with a table of program appropriations for 1977-78. A glossary at the end may prove useful in understanding the subject matter covered. (Author/LD)