This paper examines the effects of spending variations among Missouri school districts on educational opportunity and quality. In an analysis of six matched pairs of Missouri school districts, each higher spending district was compared with a lower spending district of similar size. Data were derived from document analysis and interviews with the superintendent, school board chair, business manager, an elementary and a secondary principal, the teacher organization president, a parent leader, and a community leader in each district. Findings indicate that Missouri fails to provide equal educational opportunities to its public elementary and secondary students. Property-poorer districts provide inferior educational programs/services and facilities/equipment in comparison to their wealthier counterparts. Students in the city of St. Louis Public Schools do not have educational opportunities equal to those of children in other districts. The districts with access to greater resources from assessed valuation per pupil were superior in terms of teacher quality and salaries, programs and services, administration, facilities, community support, and financial choices. In summary, continued reliance on local revenue sources will fail to provide relief to students from lower socioeconomic areas. Two tables are included. (LMI)