The purpose of this study is to investigate how the school budgeting process factors into the financial stability of a district, that ultimately impacts academic achievement. Best practices as defined by methods that allow for greater transparency, cost effectiveness, and overall success in the passing of school budgets. School funding is an important facet regarding how resources are ultimately provided within the classroom and indirectly may have a major impact on student learning. Review of the literature has provided a background on the successful implementation of school-based budgeting and factors that lead into budget development. The data techniques implemented were to gather information regarding measurable achievement and financial standing of every possible traditional public school district in New York State. Multiple data tests were conducted to compare test results against the financial condition and the geographical makeup of a district. The quantitative analysis was intended to see what effect the financial condition may have on achievement. The results from the study aimed to connect and make a suggestion towards what goes into the financial affairs of a school district and if any prediction can be made regarding various financial conditions and academic performance. This may help future studies better understand the budgeting process, learn the importance of maximizing financial resources, and reveal any other potential connections to underlying student 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.]