The inadequacy of present-day public school financial and performance reporting restricts policymakers. With existing spending and activity information now generally available, public officials can determine only overall education resource levels and make allocative decisions only among gross input categories such as relative amounts of labor and materials. If policymakers knew with greater precision for what activities school resources were actually employed and could systematically link resources to results, the consequence might well be greater (a) knowledge regarding schooling and progress toward an "education production function," (b) distributional equity of educational resources, and (c) opportunity for informed public discussion of education. (Contains 4 footnotes.)