Researcher Harold Wenglinsky analyzed data from several sources to determine how district monies were allocated for math instruction in fourth grade in more than 200 districts and for eighth grade in more than 180 districts. In both grades, spending money on instruction improved teacher-student ratios, which in turn increased student achievement. The largest effects of reduced class size came in schools serving low-income students.

On the other hand, spending on capital outlays, school-level administration and teacher education levels were not found to be related to student achievement levels. It should be pointed out that teacher education level refers to traditional advanced-degree attainment, not to professional development.

Wenglinsky also found that expenditures per pupil on administration is greater at the school level than at the district level. This is contrary to the perception that district administration costs are "top heavy." Expenditures on district administration, he says, translate into smaller class sizes at the school level.

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