Traditional ways of funding our public schools are now under challenge throughout the nation. Armed with the equal protection clause of the Federal Constitution, judges are handing down decisions requiring school taxes and expenditures to reflect State wealth rather than variations in local wealth. Voters in rich and poor districts alike are threatening political reprisals for increases in property tax rates. In a few localities, voters have been forcing schools to close by refusing to approve their budgets. As the attack on present methods of financing schools has unfolded, attention has been focused increasingly on three issues: (1) the fiscal disparities in current school finance systems; (2) ways of insuring fiscal equity in restructured school finance systems; and (3) the fiscal and educational consequences of substituting fiscally equitable methods for present taxing and spending practices. This report seeks to examine these issues as they apply to Connecticut. (Author)