The authors discuss two "weighted" grant formulas intended to better target funding to districts with the highest concentrations of poverty, contending that under weighted grants, undesirable effects can occur, including: (1) Per pupil funding for a Title I student in a large school district is greater than that for a Title I student in a smaller district with the same poverty rate; (2) Total funding for Title I students who attend one large district is greater than that for the same number of Title I students who are dispersed in many smaller districts, even though the smaller districts have the same aggregate poverty rate as the large district; and (3) Per pupil funding for a Title I student in a larger district with less poverty may be greater than that for a Title I student in a smaller district with more poverty. According to the authors, the weighting system effectively redirected over $14 million from more than 400 Pennsylvania school districts to just nine districts in school year 2007-2008. (Contains 4 footnotes and 9 tables.) [Financial support for this research was provided by The Pennsylvania Association of Rural and Small Schools and the Pennsylvania Association of Federal Program Coordinators.]