This mixed-methods study investigated how school districts in Missouri allocate funds to schools and the extent to which current practices promote equitable distribution of resources to meet student needs, especially for historically under-resourced populations. The study surveyed a sample of school district superintendents and chief financial officers across urban, suburban, and rural locales on their districts' budgeting models, resource allocation procedures, and processes for identifying and funding high-needs student groups. Informed by a literature review tracing historical inequities in Missouri school finance and best practices in equitable funding, the authors developed an equity-focused rubric to assess districts' reporting and provide recommendations. Key findings revealed most districts still rely on traditional line-item budgeting approaches based on annually recurring expenditures, though some are adopting more flexible student-based and zero-based models. Districts inconsistently assess funding equity and lack systematic accountability measures despite implementing some needs-based allocation. Based on the survey insights, the authors recommend the state education agency require districts to use a standard funding rubric evaluating resource distribution equity, alignment to closing achievement gaps, and continuous monitoring of spending impacts. Mandating this statewide framework would enable better oversight, transparency, and equitable budgeting practices across all Missouri districts to meet the needs of every learner. The study aims to inform state and local policy reforms advancing more just and responsive public school funding. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://bibliotheek.ehb.be:2222/en-US/products/dissertations/individuals.shtml.]