During the 2006-07 school year, Missouri implemented a new method to fund K-12 public schools. The new foundation formula was the Missouri Legislature’s response to legal challenges brought against the previous formula regarding equity and adequacy. The new foundation formula sought to rectify those problems by elevating funding to adequate levels in all school districts and by leveling the playing field between property-rich and property-poor districts. Though the entire formula is detailed in chapter 163 of Missouri’s revised statutes, it can be very difficult to understand. This primer has been written to help Missourians better understand how their schools are funded.