Four-day school week (4DSW) adoption is an increasingly popular policy, particularly for rural districts that are seeking to reduce educator turnover and district expenditures. Using a staggered treatment event study design, I am among the first to estimate the quasi-experimental effects of 4DSW adoption on teacher, principal, and paraprofessional staff turnover. Further, I provide a valuable conceptual replication of prior work by examining the implications of 4DSW adoption on district expenditures and revenue. Results suggest that 4DSW adoption may not impact educator turnover. However, I do detect possible short-term reductions in per-pupil federal revenue, support service expenditures, and salary expenditures. Expenditure savings are driven by reductions in food service and transportation salary expenditures. Future research should examine changes in the total hours worked by 4DSW staff and potential heterogeneous effects by the type of 4DSW schedule implemented. Overall, district leaders who seek to decrease turnover rates should pursue alternative strategies. Those who seek to decrease expenditures may see savings actualized, however, they should carefully consider potential negative effects on student achievement and redistribute dollars saved in ways that will positively improve student outcomes.