The development of logically sophisticated analytical models in a growing number of fields has placed new emphasis on efficiency in school management. Recent systems models guiding the longrun analysis of school management in terms of efficiency--through cost-benefit studies, systems analysis, and program planning and budgeting systems--are in sharp contrast to the traditional, conservative, shortrun process of school budgeting and accounting designed primarily to safeguard public monies. Cost-benefit analysis offers a systematic method by which benefit maximizing and cost minimizing choices can be made for a particular system and set of objectives. Systems analysis encompases cost-benefit analysis within its larger framework and allows the choice of alternative purposes for the system under study as well as choices among alternative materials, personnel, and management procedures. Program planning and budgeting systems are the most innovative, comprehensive, and change-inducing of these approaches. They focus attention on the choice of (1) objectives to be achieved, (2) the system by which to achieve these objectives, and (3) the plan which will accomplish the objectives at the lowest cost. Application of these models, which is imperfect at present, has the advantage of requiring a careful and disciplined analysis of school management problems. (TT)