Policymakers and others seeking to guide and support California's school districts in the era of the Local Control Funding Formula (LCFF) may benefit from better understanding how recent policy shifts shape the work of district leadership. This paper summarizes interview findings that convey the practical, on-the-ground perspectives of an often-overlooked leadership role in school districts: the chief business officer (CBO). To develop this paper, WestEd and Stanford University researchers conducted in-depth interviews with 42 CBOs representing a range of California school districts, then analyzed the interview transcripts to develop a set of findings and select representative quotes that are shared throughout this paper. The paper was developed as part of the Getting Down to Facts II (GDTF II) project, a collection of over 30 studies focused on a variety of topics, including school governance, finance, standards, and student achievement in California. To provide additional context, the paper compares the views of CBOs with those of 91 district superintendents who were interviewed for another GDTF II paper (Moffitt et al., 2018). In addition, the paper includes relevant findings from recent research on California's implementation of the LCFF.