In recent years, economic downturn and changes to Indiana's school funding have resulted in significant financial reductions in General Fund allocations for many of Indiana's public school corporations. The main purpose of this statewide study is to examine the possible impacts of these budget reductions on class size and student achievement. This three-year, quantitative study examines budget cutback amounts, teaching position reductions, per-pupil spending changes, class-size data, and student-achievement indicators. Methods of data collection include a statewide superintendent's survey, an evaluation of student achievement indicators, and a collection of public financial records of participating Indiana school corporations. Currently, year one is complete. A compilation of this data provides current information regarding General Fund budgets, position reductions, and class sizes for Indiana's public schools. (Contains 1 table.)