This study examined relationships among three sets of variables: strategic planning in school districts; school district achievement in reading, language arts, and mathematics; and school district financial and demographic factors. Ten financial and demographic factors are investigated: (1) current expenses; (2) pupil-teacher ratios; (3) costs of instruction; (4) dropout rates; (5) percentages of Local Education Agency supplement for instructional salaries; (6) percents of economically deprived students; (7) local financial indexes; (8) attendance rates; (9) assessed property values per child; and (10) percentages of revenue from local sources. All 178 public schools in Kentucky were asked to participate in the study, and 127 usable responses were returned. The most striking finding to emerge was the moderately strong relationship between school district performance on standardized achievement tests and most of the demographic and financial factors. Appended are 27 references, a strategic planning model, and 3 tables of strategic planning correlations. (SI)