The Educational Priorities Panel undertook a study to find out how funds are distributed among community school districts in New York (New York) and how resources are distributed to individual schools within the system. For the first time, in 1992, the New York City Board of Education published detailed budgets for the 32 community school districts and the elementary and middle (or junior high) schools within these districts. This report is Part II of the findings of the study by the Educational Priorities Panel; it presents the first systematic analysis of these district and school budgets and of selected expenditure data. Community school district budgets are analyzed by examining general-education budgets, general-education positions, reimbursable-program budgets, and general-education plus reimbursable-program budgets. In elementary schools, per-pupil budgets and expenditures are somewhat lower in high-poverty versus low-poverty districts and schools. In middle schools, the reverse is true. Total reimbursable funds for general-education pupils are higher in higher-poverty districts, but only Federal entitlement funds show higher spending per eligible pupil in higher-poverty schools. Details of district- and school-level budgets and expenditures for general education and reimbursable programs are presented in 101 tables accompanying part II. (SLD)