This report discusses Title I programs currently operating in the St. Louis, Missouri, public schools and analyzes various budgeting options that would permit administrators to maintain educational quality in the face of reduced funding. Detailed descriptions, including data on pupil achievement, cost effectiveness, and implementation problems, are provided for Title I reading and mathematics programs, as well as for extended day preschool, kindergarten, and summer school programs. These are followed by an analysis of effects on program quality of three options: (1) service reduction in all programs; (2) selective reduction of programs; or (3) increased student/teacher ratios. Finally, the following recommendations are offered: (1) student/teacher ratio should be increased in all programs; (2) the after-school program should become the predominant Title I program in grades 1-8; (3) the least effective reading subprograms should be phased out; and (4) Title I activities should increasingly focus on pupils below the third grade level. (GC)