摘要：This paper analyzes FUNDEB’s (Fund of Maintenance and Development of Basic Education and Valorization of the Education Professionals) formulation and implementation process in order to evaluate the advancements and limits of this policy in Brazil's basic education funding. In order to do that, we analyzed FUNDEB'S legislative process for approval, its regulating legislation, as well as funding and enrollment data for the period 2007-2010. The methods of analysis were qualitative. The discussion was divided into two parts, in the first moment we typified FUNDEB's formulation process in order to comprehend the debate about the reformulation of the basic education funding policy that has arisen with FUNDEB. Then, we analyzed funding and educational data to assess FUNDEB's first results on Brazilian states and municipalities. It was concluded that, with FUNDEB, there is a regulatory role played by Brazil's Federal Government, by establishing differentiated weighting factors, that contribute to emphasize, by States and municipalities, more “profitable” stages and modalities of education. Another factor pointing to the same direction is FUNDEB's 10% complementing policy defined by the Brazilian Federal Government, which tends to equalize the states covered by this action as a minimum standard of financing and, consequently, quality, just as occurred with FUNDEF (Fund of Maintenance and Development of Elementary School and Valorization of Teaching). Thus, it is necessary to review FUNDEB's foundational bases and Brazil's education policy, to establish a quality standard and a collaboration regime among the federative unities. Keywords : Financing of Basic Education; Public Policies; FUNDEB.
