Problems associated with the use of the Higher Education General Information Survey (HEGIS) data to make institutional comparisons are discussed. It is noted that information collected by HEGIS includes data on enrollment, degrees, finances, employees, libraries, and physical facilities. Attention is directed to the following problems with the comparability of HEGIS data: universe definition, funding differences, and reporting problems. Also considered are results of a survey investigating the differences in definitions and calculations among institutions in reporting HEGIS data. Reporting by 78 institutions was studied for two reports, the "Fall Enrollment and Compliance Report" and the "Financial Statistics Survey." It is concluded that problems of comparability with HEGIS data were confirmed by the study. The following three major types of differences were found that can affect data interpretation: ratios of dollars per full-time-equivalent (FTE) enrollment differ significantly depending on the definition used for FTE; categorizing expenditures by function differs among institutions; and rankings among peer institutions differ depending on the definitions and calculations used when completing the HEGIS surveys. (SW)