After decades of consistent growth, California transitional kindergarten (TK) through grade 12 public school enrollment has been declining and is expected to continue to do so for at least the next two decades. This report provides guidance on how districts in California and elsewhere can respond to declining enrollment in ways that strengthen high schools. It describes three strategies district leaders can use to realize cost savings, achieve greater fiscal efficiencies, and/or generate revenue while expanding learning opportunities, student supports, and community partnerships. District leaders can implement these strategies concurrently with broader budget adjustments, including staff reductions and school consolidations, that may be needed in response to declining enrollment.