Compared here is the cost of year-round education (YRE) with that of traditional education in the Oxnard (California) School District in 1981-82. Three approaches were used. The first computes the YRE program costs during the summer when the traditional school is not in session, revealing that an 850-student YRE school incurs $39,299 in costs during this period. The second approach computes the per student expense for students in each program, revealing that the cost for educating pupils in the YRE school was $80 less per pupil than that in the traditional schools. The final approach computes the costs of new school facilities and operating expenses required to serve the 536 extra students now accommodated in the YRE program, revealing that the YRE program allowed the district to operate with one less building, producing a savings of $160,027. Other beneficial cost factors inherent in YRE schools are noted, including reductions in teacher and student absences and school vandalism. The paper closes by warning that a system with adequate classroom space would not experience the same savings as has Oxnard, a rapidly growing district. (JM)