The Ohio Supreme Court recently ruled that Ohio's elementary and secondary public school financing system violates the state's constitution. It was estimated that an additional $1 billion is necessary to overhaul the current system. These costs are based on a report that defined the base cost of an adequate education using an overly simplified and flawed approach. This article recognizes that variations in spending arise from differences in outcomes provided, in the cost of providing a given level of outcomes, and in the efficiency of outcome provision. The study also critiques the approach used to determine the base cost of providing an adequate education.