When it comes to American education, few policy areas are as misunderstood -- or as crucial -- as school finance. Over the past several years, a political and empirical consensus has emerged about the importance of equitable and adequate school funding for high quality K-12 education. In other words, the evidence is clear that money does, indeed, matter. Certainly, debates about how education funds should be spent are also important, and money should be spent wisely. But there are few options for improving America's schools that do not require adequate and sustained investment, particularly for disadvantaged students. While maintaining efficiency is important, the fact is that districts cannot spend money wisely that they do not have. This report presents key findings from the second release of the School Finance Indicators Database (SFID), a public database of sophisticated but user-friendly state school finance measures going back to 1993. This latest version of the SFID includes data up to 2017 (the 2016-17 school year). [For the first edition, "The Adequacy and Fairness of State School Finance Systems. Findings from the School Finance Indicators Database, School Year 2015-2016," see ED596199.]