This year marks the fifth annual EDUCAUSE Current Issues Survey to identify what campus information technology leaders see as their most critical IT challenges. Thirty-five percent (571) of the 1,638 EDUCAUSE primary member representatives who were asked to participate responded to an e-mail invitation to complete the Web-based survey in December 2003. Survey participants were asked to check up to five of 30 issues in response to each of these four questions: (1) Which of the IT-related issues below are most important for your campus to resolve for its strategic success?; (2) Which of the IT-related issues below have the potential to become much more significant in the coming year?; (3) Which of the IT-related issues below are you, as an IT leader or administrator, spending most of your time addressing?; and (4) On which of the IT-related issues below is your campus spending the most human and/or financial resources? Three overall findings for all respondents to this year's survey are especially notable. First, for the second year in a row, Funding IT remains the number-one IT-related issue in terms of its strategic importance to the institution (Question 1), its potential to become even more significant (Question 2), and its consumption of IT leaders' time (Question 3). And in 2004, it appears for the first time on the list of greatest expenditures of institutional resources (Question 4), most likely indicating that more human resources are being spent on this issue. The second notable finding is that not only does Security and Identity Management remain among the top-ten issues on all four measures (strategic importance, growing in significance, demanding the campus IT leader's time, and expenditure of human and fiscal resources) but has risen dramatically in the last (resource consumption) category--from eighth in 2003 to third in 2004. Finally, two new issues have made the top-ten list for Question 1 in 2004: (1) Business Continuity/Disaster Recovery; and (2) Governance, Organization, and IT Leadership. Beyond a logical tie-in with security concerns for the first of these, the appearance of these issues suggests a growing realization of the strategic importance of IT and the close relationship of leadership and governance for this critical resource. In this article, members of the Current Issues Committee have described the top-ten IT-related issues that are the most important for institutions to resolve for its strategic success (the top-ten list for Question 1), including some analysis to explain the rankings and year-to-year changes. (Contains 9 endnotes and 5 tables.)