California ended 40 years of reliance on categorical funding for schools when Governor Jerry Brown signed the Local Control Funding Formula (LCFF) into law on July 1, 2013. LCFF intends to enhance services for high-needs students through new flexibility, targeted student funding, and local accountability. Two years into LCFF implementation, research in 18 districts and more than half of the state's County Offices of Education (COEs) uncovers both reasons for optimism and a few concerns. The LCFF represents an ambitious effort in the nation's largest state to fundamentally change the way education decisions are made, engage local stakeholders in these important decisions, and target additional resources to traditionally underserved students. Now is the time for mid-course corrections that will ensure the state is able to realize the "Grand Vision" that the LCFF is intended to be. Data Collection Methods are presented in the appendix. ["Two Years of California's Local Control Funding Formula: Time to Reaffirm the Grand Vision" was written with the assistance of Jarah Blum, Ashley Campbell, Camille Esch, Laila Fahimuddin, Michelle Hall, Jennifer O'Day, Katherine Ramage, Laura Stokes, and Laura Tobben.]