This report provides national and state summaries of local public education agency revenues by source and expenditures by function for fiscal year 1980. National trends since fiscal year 1971 are presented and discussed in the text. The appendix consists of 10 tables of financial statistics that provide detailed information about each state for fiscal year 1980. Tables 1 to 4 provide state aggregate data for revenues received by local education agencies; tables 5 to 9 provide state aggregate data for outlays; and table 10 presents the basis for allocation of monies under Public Laws 81-874 and 89-10 (the Elementary and Secondary Education Act). (Author/PGD)