A policy brief from the Beacon Center of Tennessee describes the state’s K-12 finance formula and makes recommendations for reform. The report asserts that Tennessee should replace its “resource-based” formula with a “student-based” formula more closely resembling the approach used in some other states. However, there is little if any peer-reviewed research to support the report's claims. While the report is commendable in its call to action and emphasis on equity and transparency, it provides limited actionable information. Policymakers should thus read this report with caution and pair their reading with materials that provide more nuanced perspectives.