California's school funding system has changed in several very significant ways since the original "District Dollars" report (Loeb, Grissom, and Strunk 2007), so the purpose of this report is to update that analysis and to track the evolution of district finances over the intervening 12 years, as well as to consider a few other issues relevant to understanding public school finding in the Golden State. To those ends, the remainder of this report proceeds as follows. The first section briefly describes the manner in which school revenues are generated, distributed, and spent in California, including several major recent economic and policy developments with potentially important implications for districts. The next section describes the annual financial reports that provide the majority of the data in this report and the manner in which the author weighs districts when comparing them to one another and across time. This is followed by four sections describing the composition and levels of districts' resources and expenditures, considering measures of districts' overall financial health, and examining the roles of non-district entities in educational service provision in California. The final section compares districts' resources and expenditures in California to those of districts in other states. Most of these sections include cross-sectional analyses of California districts in 2016-17, the most recent year for which data are available, including comparisons of districts with different characteristics. Additionally, statewide trends are considered longitudinally to illustrate changes since the 2004-5 school year.