Addresses equitable and responsible investments in the state's basic education program and reductions to local effort contributions to fulfill the state's paramount duty for all children.

Requires the superintendent of public instruction to: (1) Convene a technical working group to provide recommendations for revising school district accounting practices for the purpose of improving fiscal transparency by establishing methods for separate accounting of school district expenditures made to support the state's program of basic education and those made as locally determined enrichments with local or other funding sources; and

(2) Convene a work group to determine whether the funded enrollment percent for special education programs of twelve and seven-tenths should be adjusted.

Establishes an accountability monitoring and reporting system as part of a continuing effort to make meaningful and substantial progress toward meeting long-term performance goals in K-12 education.