Since the Coleman Report in 1966, researchers have been analyzing educational resource inputs with respect to district, school, and student level outputs. There has been an increase in federal and state control of local school districts, as demonstrated in the adoption of the Common Core Standards and mandatory national and state assessments. In conjunction with these changes, an economic recession has resulted in reduced funding for education that has required school districts to be more efficient in allocation of resources. Local school officials are pressed to allocate resources such that a maximum output is achieved in student achievement and district achievement. The purpose of this study was to quantify the impact that expenditure reductions had on student achievement in Missouri school districts. By looking longitudinally at operating expenditures, this quantitative study examined a correlation to student achievement as measured by the Missouri Assessment Program (MAP) assessments, graduation rates, and attendance rates. This study found a slightly negative relationship between per-pupil expenditures and attendance rates across 267 Missouri school districts. Per-pupil expenditures did not have predictive significance when compared to graduation rate or MAP scores. Through the findings of this study, district decision makers will have insight into more efficient allocation of scarce educational resources. This study will also provide direction for further research on the impact of education inputs that effect achievement. [The dissertation citations contained here are published with the permission of ProQuest LLC. Further reproduction is prohibited without permission. Copies of dissertations may be obtained by Telephone (800) 1-800-521-0600. Web page: http://www.proquest.com/en-US/products/dissertations/individuals.shtml.]