The Legislative Analyst’s Office has released an updated version of its report on Local Control Funding Formula. The version I’ve put here is current as of December, 2013.
You might want to read the Executive Summary and decide if you want to get into the weeds.
Legislation enacted in 2013–14 made major changes both to the way the state allocates funding to school districts and the way the state supports and intervenes in underperforming districts. The legislation was the culmination of more than a decade of research and policy work on California’s K–12 funding system. This report describes the major components of the legislation, with the first half of the report describing the state’s new funding formula and the second half describing the state’s new system of district support and intervention. Throughout the report, we focus primarily on how the legislation affects school districts, but we also mention some of the main effects on charter schools. (This report does not cover the new funding formula for county offices of education [COEs], which differs in significant ways from the new district formula.) The report answers many of the questions that have been raised in the aftermath of passage regarding the final decisions made by the Legislature and the Governor in crafting new K–12 funding and accountability systems for California.
(If you have a Crocodocs account, you can comment/annotate this document, or comment in the comment section to this post.)