Argues that standards-based education reform has shifted the focus of school finance from equity to adequacy. Requires an explicit connection between the funding provided to schools and the results produced in terms of student learning. (Contains 19 references.) (MLF)

The first of two sections discusses two major factors compelling a rethinking of school finance: standards-based education and the shift from equity to adequacy in school-finance litigation. The second section summarizes five compilations of research findings related to these two factors. (PKP)