Superintendent Andres A. Alonso arrived in Baltimore in 2007 with a vision for improving the city's struggling schools. His vision included empowering school leaders and creating accountability for student learning through a series of reforms that center around a new system for giving resources to schools, called Fair Student Funding (FSF). FSF attempts to create equity across schools and students by targeting resources according to student needs--academic and social-emotional--and build a system of school-based autonomy and flexibility focused on fulfilling those needs. Instead of awarding employees to schools based on staffing ratios, under the leadership of Alonso in 2008-2009, Baltimore City Public Schools (City Schools) adopted a per pupil funding formula. This gave dollars to schools with the amount weighted to vary based on estimates of student learning need and the schools' respective needs. Since the rapid implementation of FSF and related reforms, City Schools has moved off the federal "needs improvement" list. The district has celebrated a 50% decline in the drop-out rate (from 9% to 4%), a notable improvement in student performance, and the reversal of a decades-long enrollment decline. With the rapid implementation and encouraging results, FSF and related reforms continue to be a work-in-process, as Baltimore City Public Schools adjusts student weights, renegotiates contracts and builds capacity and support at the school level. At the request of Carnegie Corporation of New York and with the cooperation of City Schools, Education Resource Strategies (ERS) set out to examine Baltimore's implementation of FSF and the reforms that accompanied it. In this summary, ERS shares the extent to which City Schools has met the objectives of FSF and related reforms and summarizes key lessons learned. (Contains 1 footnote.)