The Local Control Funding Formula (LCFF) represents a fundamental transformation of the way California allocates state funds to school districts and the ways the state expects districts to make decisions about (and report on) the use of these funds. This is the first in a series of short briefs that aims to capture some key themes emerging from the Local Control Accountability Plan (LCAP) development process, including some of the key challenges that California educators still need to address as they work to fulfill the promise of the new funding system. This brief identifies some early lessons about how best to use the new system to meet student needs, especially the traditionally underserved. It highlights key areas that merit attention from California education stakeholders, as well as issues of communication around priorities and expectations that can help support the successful enactment of the new funding policy. [The development of this brief was also supported through contributions from the Silver Giving Foundation.]