This PRiMER on Missouri public school funding explains revenue sources, trends, formula mechanics, district expenditures, protections against enrollment decline, and fiscal reserves to provide a clear foundation for understanding Missouri’s school finance system. Over time, average per-pupil funding has risen substantially in real terms, though Missouri remains below the national average while aligning more closely with its neighboring states. Despite this equalization mechanism, wide variation in spending exists across districts, with evidence suggesting some regressive elements that benefit wealthier areas.

The following paper provides a primer in state education funding formulas, and a lesson in unintended consequences.