This study examined the relationship between school funding and graduation rates of Hispanic students. Data from a purposeful sample of 147 Texas school districts identified as having a student Hispanic population greater than 75% were examined. Additionally, superintendents were interviewed to provide an in-depth understanding of the potential influence of school funding on the graduation rates of their district's Hispanic students. Results concluded that a relationship existed between: (a) school funding and graduation rates in small school districts; (b) school funding invested on dropout prevention programs and graduation rates; and (c) school funding and graduation rates for districts reporting up to a 50% LEP student population. Superintendents differed in their perceptions of what contributed to their district's graduation rates and school funding concerning graduating Hispanic students.