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This paper investigates the relationship between funding for gifted and talented (G/T) programs and short-term academic growth of G/T students as well as predictors of G/T growth and G/T costs. Using the district finance data in Arkansas from the 2017-18 through 2022-23 fiscal years (with the exception of one year due to COVID-19), findings indicate no statistically significant association between G/T expenditure and changes in test scores. However, School districts with a higher proportion of minority students or G/T students tend to have lower test scores and spend less per G/T student, underscoring that funding disparities across districts may play a role in limiting G/T growth outcomes.