The study examined the relationship between expenditures and student achievement in Ohio school districts for the years 2015 through 2019. Data were analyzed for categorical district expenditures correlated to student achievement. Operating and instructional expenditure categories, along with typology demographics, comprised the independent variable group. The performance index measure served as the dependent variable of student achievement in the study. The research analyzed the relationship between expenditure categories and performance index among both Ohio schools at-large and those sharing similar demographic characteristics, per ODE's Typology of Ohio's School Districts (ODE, 2019). Data for the study were collected from the Ohio Department of Education database and is available to the public. Descriptive statistics and regression analyses were applied to examine the relationship between expenditures and achievement among sample groups. The quantitative findings indicate that while regressions among both Ohio districts at-large and Category 1 schools demonstrate significance, the connections between independent spending categories and achievement are mixed. Furthermore, the predictive model strength in both sample groups was significantly reduced when demographic inputs were removed from the regressions. However, research findings indicate a stronger observable relationship between specific expenditure categories and achievement when demographic variables are streamlined, as demonstrated in the Category 1 sample results. Recommendations and analysis were given based on the findings from the research. Overall, the study was significant in that it seeks to provide valuable data to district leaders, along with local and state governing bodies, in the allocation of educational funds for 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://bibliotheek.ehb.be:2222/en-US/products/dissertations/individuals.shtml.]