Outstanding cost-reduction programs implemented at colleges and universities during calendar year 1987 are recognized. Each of the 54 award-winning ideas is described in a paragraph-length program summary. Although some aspects of programs may be unique to a particular institution, creative administrators are challenged to tailor the programs to meet the special requirements of their institutions. The programs include: treatment of hazardous wastes; facility management; negotiations for computer services; negotiations for carpet; work scheduling of employees; employee rehabilitation; use of mail services; automation to reduce personnel costs; computerized inventory and purchasing systems and timekeeping systems; cooperative programs; energy saving projects; fringe benefit packages for employees; and others. A list of all 1988 participants and a list of 1987 winners are included. (JDD)