Educational expenditures continue to be a topic of discussion and concern for educators, politicians, and families. The impact of school expenditures has long been debated, but recent evidence links increased expenditures to better post-academic outcomes, especially for students from lower socio-economic backgrounds. To date, this research has not been extended to special education students. Indeed, the amount of research on the effect of special education expenditures is remarkably lacking. The current study begins to address this gap by examining the increase of expenditures on both regular and special education students during a time when enrollment was growing in several Texas school districts. The results showed that schools with increased student enrollment fell behind schools with stable enrollment.