The purpose of this study was to replicate both The Education Trust's "The Funding Gap" and D. Verstegen and L. Driscoll's "The Illinois Dilemma" studies published in 2008 utilizing the actual allocations to districts resulting from the fiscal policy mechanism (funding formula) in Illinois for the 2004-2005 school year to understand the influence of adjusted values on determinants of fiscal equity as applied in each of the earlier studies. The results of the IERC [Illinois Education Research Council] analyses indicated a less severe "gap" between the highest and lowest poverty district quartiles and a positive "gap" for high minority district quartiles when compared against the district quartiles with the lowest minority presence, as compared to results presented by The Education Trust. With respect to the IERC results when revisiting "The Illinois Dilemma," a more inequitable distribution of aid was observed than that reported by D. Verstegen and L. Driscoll. This finding was found to be the result of inequitable local resources primarily existing in elementary districts. Appended are: (1) Data Log; (2) Variables obtained from ISBE for this study; and (3) Glossary. (Contains 8 tables, 3 figures, and 43 footnotes.)