This report presents the findings from a rapid review of the evidence on how recent changes (2010 onwards) to the level of school funding in England have impacted on school spending and attainment. To do this the report appraises literature published from 2010 onwards that focuses on the following key questions: (1) What impact has school funding had on schools in England between 2010 and 2017? and (2) How might the changes proposed to the National Funding Formula in 2016-17 impact schools in England? To answer these questions, the report provides information on changes in funding levels over 2010-17, along with anticipated changes out to 2019-20. Within this, it highlights how funding levels have changed for disadvantaged pupils and schools with high proportions of disadvantaged pupils. It also examines changes in what funding has actually been spent on. The evidence on the effect funding has had on attainment since 2010 is looked at, as is how the outcomes of additional spending vary with both pupil characteristics and the specific resources funds are directed at. While the number of studies written on the topic of school funding is vast, the number meeting the authors' search criteria was far smaller. Fourteen key texts were appraised and drawn upon for the review. Each study is summarized at the end of the report. Additionally, a glossary of key terms, a timeline of key school funding policy changes, and areas for further study are also included.