This paper examines issues concerning educational finance in the Washington, D.C. public schools according to three measures of adequacy: city budget, per pupil expenditures, and teacher-student ratio. The issues are discussed in the context of historical, social, and political developments (the change from Federal control over the school district to home rule) and include: 1) the equitable distribution of school funding, particularly in relation to black schools versus white schools; 2) the haphazard nature of educational finance due to constitutional stipulations concerning Federal control over the District; 3) inadequate school funding; 4) funds for school construction; 5) school finance as an object of governance conflicts; 6) alternative supplementary sources of school funds; 7) the problem of tuition for nonresidents; 8) teacher salaries; and 9) the budgeting process. A brief report on a study of public interest in education finance within the District indicates that while public interest in the schools rose and fell dramatically around the period of social change in the 1960's, interest in school finance has risen steadily and is now at a peak. The paper concludes with some policy implications that touch on the issues discussed. Appendices provide information on the District of Columbia's 1981 public expenditures by category and compare differences in school finance data over the years. (MJL)