In 2005，the State Council issued the “Notice on Reforming the Fund Guarantee Mechanism for Rural Compulsory Education”，which has greatly improved growth of the rural compulsory education since then. During two years，public finance has supported development of education in rural areas and economic burden of families in rural areas has been significantly lowered，the provincial level of government has been the main source of financial fund，and public expenditures of rural schools have been advanced. While the government gradually increased the educational input，the managing system and monitoring efforts have also been enhanced. The county government should set up budgetary center to regulate budgets and inquiries are regularly conducted. But there have still been problems in monitoring and inadequate school budget. This paper proposes relevant suggestions based on study of status quo to improve the new fund guarantee system.