This report examines traditional and newer forms of school district entrepreneurship and its impact on school district revenues. The report describes forms that have become well-established, such as school and parent fund raising, local educational foundations, business-education partnerships, and student fees. New forms of educational entrepreneurship include commercial advertising, corporate sponsorship and merchandising efforts, the recruitment of tuition-paying students, and development-impact fees. Although the generation of alternative revenues may provide opportunities for school districts, it also presents concerns for school officials and state policymakers regarding equity, accountability, and taxpayer support. Recommendations for state policymakers include: (1) conduct a survey of school districts to identify the types of entrepreneurial activity and the amount of revenues generated; (2) review the state education accounting system to ensure that alternative revenue sources are accounted for in a systematic manner at the district and school levels; (3) analyze existing statutes and administrative regulations to determine if they offer sufficient guidelines for school districts in new areas of entrepreneurship; and (4) consider a study to determine the impact of school district entrepreneurship on interdistrict and intradistrict fiscal equity. Contains a 13-item list of state legislative reports and 16 notes. (LMI)