cost would here be excluded. So, also, with any charge on past invest- 

 ment. This method is open to the same objections as the preceding 

 one. 



Method No. 3 



Total expenditures $52 , 590 . 02 



Capital expenditures 3 , 955 . 16 



Operating expenditures $48 , 633 . 86 



Add interest on investment (346,000 at 5%) 17,300.00 



$65,933.86 



Average daily attendance 118 



Cost per pupil $558 . 76 



In figuring cost per pupil money invested for necssary land, build- 

 ings and equipment is part of actual cost. All of this cannot be 

 charged to the students attending in the year when purchased or built, 

 for in that case 1912-13 pupils would have been charged with an in- 

 vestment cost of over $300,000. The equitable way is to distribute 

 it according to benefit, and perhaps the best way of doing this is by 

 means of an interest charge. If the term is not felt to be suitable, 

 some other name (e. g., capital percentage, investment charge) may 

 be used. 



Method No. 4 



Total expenditures $52 , 590 . 02 



Capital expenditures 3 ,956. 16 



Total operation $48 , 633 . 86 



Deduct extension (1/6 of total operation) 8 , 105 . 64 



$40,528.22 

 Deduct dormitory 4 , 400 . 00 



Net operation for regular pupils $36 , 128 . 22 



Average daily attendance 108 



Cost per pupil (without capital charge) $334.52 



Capital charge per pupil 160 . 19 



Total cost per pupil $494 . 71 



This last figure, $494. 7 1 , is the total cost per year for teaching one 

 pupil. It is the figure which should be used when sources of funds 

 are not considered. It is the answer to the question "What is the 

 total cost of educating one pupil one year?" The average daily at- 

 tendance is reduced to 1 08. The original figure of 1 1 8 includes some 

 that are for cost purposes considered as extension. All short and spe- 

 cial course students, including summer session and dependent home pu- 

 pils, are called extension in dealing with extension cost. This is in ac- 



