In January 2013, the governor proposed a new funding model for California school districts called the Local Control Funding Formula. As the Legislature debates the proposed new funding model for schools, which is expected to start in the 2013-14 fiscal year, the author thought it would be a good time for a history lesson in California school finance. In summary, school funding has definitely seen many changes over the past 40 years, and if history repeats itself--there will be change. The how, what and when still need to be determined. However, school leaders will continue to strive to be as smart as possible in how they use the funds for the betterment of all students.