This paper presents the 1976-1977 allocation of monies by the New York City Board of Education to New York City's thirty-two decentralized community school districts. It is organized around five modules. Each module consists of a grouping of functional activities for which separate allocation formulae are utilized. The modules cover the following areas: (1) community school boards and district administration, (2) instructional services, (3) continuing education and extended use of school buildings, (4) furniture, supplies, equipment, textbooks, and library books, and (5) furniture and equipment. The funds in these modules are distributed to the thirty-two community school districts by formulae, and in fiscal year 1976-1977 the monies allocated to these modules represented nearly two-thirds of each school district's total budget allocation. Charts, graphs, tables, and step-by step examples are used throughout the paper to explain and simplify this complicated budget distribution description. (Author/AM)