An analysis of the effect of the Kansas School District Equalization Act (SDEA) of 1973 on public school financing is provided in this consultants' report on behalf of six plaintiff school districts in "Newton United School District 373 et al., v. the State of Kansas." Following an introduction, the second section sets forth the initial framing of the report in the context of the present action, citing analyses of other Kansas lawsuits. Section 3 reviews the broad parameters and features of the SDEA as it particularly affects this analysis, and the fourth section elaborates the framework used to evaluate the SDEA. Section 5 presents a statistical assessment of SDEA performance under selected equity standards--resource accessibility, wealth, neutrality, and taxpayer equity. Conclusions about the relationship between the statistical analysis and actual effects of the SDEA are offered in the sixth section, and a final synthesis is provided in the final section. Findings indicate that public school financing in Kansas is characterized by continued wealth-related opportunity, inequitable enrollment category classification, and a highly differentiated tax load. The recommendation is made to change the equalization formula that defines educational needs by inequitable enrollment categories. Sixteen tables are included. (12 references) (LMI)