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Over the past decades, states have made considerable progress in expanding access to public prekindergarten (pre-K). While states’ programs vary considerably, typically their approaches to increasing enrollment could broadly be categorized as either (1) increasing availability of targeted pre-K that serve children with the greatest need, or (2) opening programs with less restrictive enrollment requirements in pursuit of “Universal Pre-K,” serving a more socioeconomically diverse set of students. This study examines whether the nature of pre-K enrollment expansion impacts the level and stability of subsequent program funding, and levels of diversity in the student body. Consistent with policy particularism theory, preliminary results suggest that program enrollment expansions in less targeted programs are associated with greater levels of funding per-pupil.