Research suggests that students who participate in formative assessment perform better on measures of academic achievement than students who do not. To raise school and systematic performance, teachers need access to high-quality, rigorous tools designed to provide timely and individualized feedback for student learning. According to a report published in 2023 by the Missouri Department of Elementary and Secondary Education (DESE), 58% of third grade students are reading at only a basic or below basic level, based on 2022-2023 state assessment results. The Region 12 Comprehensive Center (R12CC), in collaboration with DESE, is working to implement a statewide common formative assessment (CFA) system, referred to as the Formative Assessment Builder. The CFA system will provide Missouri educators with equitable access to common formative assessments for student learning in the area of Grade 2 literacy as they prepare for the transition to 3rd grade instruction and high stakes assessments. The CFA system is an online portal hosted by DESE that provides access to professional learning modules and supporting materials. The portal will store assessment items created, vetted, and uploaded by DESE. All Missouri teachers and administrators will have free, unlimited, and direct access to the system. This report examines how the CFA system is an integral tool that will benefit both teachers in their instruction and students in their learning.