This document contains the proceedings of the 16th annual National Conference on School Finance. The Conference participants included representatives of State education agencies, professional associations, and State legislatures, as well as professors of school finance. Topics discussed include fiscal neutrality, cost differentials and cost indices, the supply and demand of educational personnel, measuring productivity in education, full State funding of capital outlay, public funds and nonpublic schools, equal educational opportunity, educational legislation, and court decisions. Presentations also consider alternative fiscal solutions to equity problems in public school finance, the prospects for alternative tax sources for education, and school finance reform in the States. (Author/DN)