This quantitative research study was designed to examine the relationship between system resource allocation patterns and student achievement, as measured by eighth grade Criterion-Referenced Competency Test (CRCT) mathematics, eighth grade CRCT reading, eleventh grade Georgia High School Graduation Test (GHSGT) mathematics, eleventh grade and GHSGT English/language arts. Financial expenditure predictor variables considered were the following: teacher salaries and benefits, instruction, pupil services, improvement of instructional services, media services, technology, and other. This research investigated whether any of these seven predictor variables could be included in an equation for predicting student achievement. Data from all 180 Georgia school systems were included in this study for fiscal years 2006 and 2007. Forward multiple regressions were utilized as the common method of analysis for each dependent variable to determine if student achievement could be predicted based on system level expenditures. While one independent variable, improvement of instructional services, had a significant negative effect on every student achievement variable, teacher salaries and benefits had a significant positive effect on three student achievement variables. Other independent variables, pupil services, technology, and other spending, negatively influenced one or two student achievement variables, and two independent variables, media services and instruction, did not have a significant effect on any of the student achievement variables. (Contains 1 footnote.)