This report arrives during a time of heightened scrutiny and civic engagement. While public attention is currently trained primarily on Milwaukee Public Schools (MPS), this research encompasses the whole of the city's education system, marking both commonalities and differences between different types of publicly funded schools. It highlights financial aspects of the system but also expands the discussion to include student enrollment and outcomes. The report is organized into three major sections: Milwaukee's Students and Schools, covering the basic schooling options available to students along with student enrollment and demographic trends; School Funding in Milwaukee, outlining the core funding mechanisms and their funding levels for schools in the city; and Student Outcomes and School Performance, summarizing broad trends in Milwaukee's academic results. The report concludes with key insights for the consideration of both policymakers and the public. It is hoped the report's findings ground both current and future policy discussions with important facts and nonpartisan insights. The authors further intend to inform those discussions with a second report this fall, which will highlight promising K-12 practices and innovations occurring both within Milwaukee and nationally.