The objective of this study is to provide partial answers to the question, "What would school districts buy if they were given additional funds?" The answers are potentially relevant to state and federal education policy-makers faced with the task of developing and implementing school finance reforms who must consider whether and under what conditions local school systems will use additional funds effectively. The focus of the study is on school district choices among resource inputs. An attempt is made to determine how much of any increment in a school district's budget tends to be used (a) to increase the teacher-pupil ratio, (b) to raise the teachers' salary schedule, (c) to hire teachers with more experience and training, (d) to pay for professional personnel other than teachers, and (e) to purchase other resources. Variations in resource allocation patterns among districts with different socioeconomic characteristics are also examined. The study does not address the questions of how resources are used within the schools or of the extent to which different categories of children in a school district are likely to benefit from incremental resources. (Author)