Why does the report only cover operating expenditures? Don’t institutions spend a lot of money on capital outlay (building and renovating facilities)?
Colleges and universities do spend a significant amount on capital, but because of inconsistencies in how capital spending is accounted for across different types of institutions, it is not possible to do a reliable analysis that includes both capital and operating expenses. Including capital spending, even with consistent data, would not significantly alter the patterns identified in the report.
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