A Study by the Centre for Independent Studies (https://www.cis.org.au/) shows increased funding for schools is not necessarily key to improvement in school performance. A study of disadvantaged primary schools found that key to making a disadvantaged school into a high achieving one was:
direct and explicit instruction
experienced and autonomous school leadership
data informed practice
teacher collaboration and professional learning
comprehensive early reading instruction
Source: Overcoming the Odds: A Study of Australia's Top Performing Disadvantaged Schools by Blaise Jospeh.