Inner city schools are not "bad" due to a lack of funding. Look around the country and see that teachers in NYC, Philly, Chicago, Cleveland, LA, and so on are very well compensated (albeit without "combat pay"), and the school budgets are lavish.
They are bad because the home circumstances of the students are shit. Their mothers are single and either working their asses off or being supported by the State (or both), they come to school hungry and unprepared, and the culture disdains education generally. Their role models are drug dealers, hip-hop stars, and professional athletes, none of whom contribute to society in any meaningful way.
The schools pass them through as quickly as possible, regardless of their academic progress, while trying to create paper trails of success ("Death to standardized testing!" cry the teachers). Superintendents are almost invariably chosen for their status as wimmin or POC's, and regardless of a conspicuous lack of success in prior positions. School board members are low-grade political hacks with neither the knowledge or experience to provide anything of value.
While it is a cynical solution indeed, the Republicans' "solution" to the problem of inner city schools is "School Choice"; that is, providing public funding for parents to get their kids the hell out of the shitty urban schools and into either a Charter School, a parochial school, or a private school - anything would be better than keeping your kids in the neighborhood school as it is.
One occasionally hears of an inner city school that is "making it," and would that someone could capture the factors that make it successful and distribute those academic strategies around the country - maybe by the Department of Education - but I've seen no campaign to do so, at least in the news sources that I read.
But for the time being, other than taking a major role in your child's education yourself as a parent (which few parents have the time or qualifications to do), the only solution is to get your kid(s) the hell out of your neighborhood school, if it is a failing one.