In 2013, the California Legislature adopted the Local Control Funding Formula (LCFF), which brought about radical changes in the way in which the state finances schools and in the state’s educational governance and accountability policies. The LCFF made the distribution of school funding more rational and more equitable and shifted responsibility for most spending decisions to local actors. The LCFF also introduced a new accountability framework, which aims to shift the focus of schools and school districts from compliance with state mandates and regulations to continuous improvement in the performance of schools and students. After five years, the LCFF is fully funded, and the new accountability framework is fully in place. David Plank discussed the implementation of the LCFF to date and the challenges that must be addressed if the promise of California’s recent reforms are to be achieved.