There are conflicting opinions about Georgia's funding of K-12 education and the concomitant horizontal equity in per-pupil revenue from 1997–2008. This study examined the degree of financial equity for K-12 education in Georgia. Multiple statistical measures including: range, restricted range, mean, median, coefficient of variation, and the McLoone Index were used to analyze how per-pupil revenues from state and local sources compared among all 180 school districts from 1997–2008. Linear regression and regression discontinuity testing were also used for trend analysis and to determine the impacts of austerity cuts to equity. Research questions concerned the change in equity over time and the impact of austerity cuts on financial equity.

For nominal data and inflation-adjusted data, the trend in Georgia has been towards greater equity in per-pupil revenues for three of the four measures of horizontal equity: restricted range, coefficient of variation, and McLoone Index, with range being the exception. Additionally, there was an increase in overall equity as measured in terms of inflation-adjusted per-pupil revenue for all four measures of horizontal equity analyzed: range, restricted range, and coefficient of variation during the years that austerity cuts were implemented (2003–2008). Equity improved for students below the median in per-pupil revenues as measured by the McLoone Index during this time period. The regression discontinuity test showed that the 2003 austerity cuts did create a discontinuity or "gap" in the equity curve and increased the slope toward greater equity as measured by the McLoone Index.