Equity effects of program growth and diversification on the Utah public education finance system are examined. The degree to which student and taxpayer equity are achieved by district formulas of the Minimum School Program are assessed by analysis of school-related taxation and spending over time, current distribution patterns of state support, comparisons of revenue generated by permissive taxes, and results of simulated formula modifications. A second focus is the evaluation of funding distribution efficiency and program funding adequacy. Although the primary formulas are found to be generally equitable, recommendations are made for consolidation of some Minimum School Programs and increased district decision-making authority. Appendices include summaries of public hearings and written remarks and a Minimum School Program spreadsheet. (19 references) (LMI)