Information on revenues and expenditures at U.S. colleges and universities are reported for fiscal years (FY) 1983, 1984, and 1985, based on findings from the Financial Statistics of Institutions of Higher Education survey, which is part of the Higher Education General Information Survey. Narrative and statistical information is presented on: current funds revenues for colleges by source and by level and control of institution; current funds expenditures and mandatory transfers of colleges by function and by type of institution; and expenditures per full-time equivalent (FTE) student by type of institution. It was found that despite relatively stable student enrollments, the revenues and expenditures of colleges and universities grew faster than inflation between FYs 1983 and 1985. Government support was the largest source of revenues in each FY, accounting for about 44% of total revenues. Instructional costs were the largest category of expenditures in both public and private institutions. Increasing expenditures in higher education, combined with decreasing FTE enrollments, resulted in significant increases in the amount of expenditures per FTE student. Data on the survey sample and definitions of terms are appended. (SW)