The funding of K-12 public schools in Ohio is a joint effort with 7.4 percent coming from the federal government, 47 percent coming from local sources and 45.6 percent coming from the state, based on FY04 revenue (the latest data available). Of the approximately $6.8 billion in state aid, about 80 percent is distributed through the Ohio School Foundation Program to 613 city, exempted village and local school districts. In addition, another $300 million is funneled through the foundation program to Ohio charter schools by deducting this funding from the regular school district's payments where the charter school pupil resides. Funding calculations and school foundation formula are summarized on form "SF-3." This document presents a prototype of Ohio's new SF-3 form, along with line-by-line explanations. It is hoped that the information contained in this document will provide a basic understanding of Ohio's school finance system and the state foundation in particular.