A system employing a micro-level approach to the ongoing recording of educational equipment costs by educational program was developed. The system was designed to depreciate equipment and to allow determination of annual costs by educational program; consumption; maintenance and repair; interest on the capital investment; and insurance for purchased, donated, and rented equipment used by one program only and that used jointly between two or more programs. Guidelines for implementation are provided. The system provides for cost analysis procedures that allow cost comparisons and the determination of cost relationships and trends. Cost data provided by this system facilitate determination of the cost portion of cost-benefit studies concerning educational programs. The data provided by this system, over a period of years, can be used to develop standards that can be used as a yardstick to measure program, school, and district operations. Such cost data can provide guidelines when projecting costs of adding new programs and expanding present programs. The conceptual framework provides a basis for further development of instruments and procedures in the area of educational cost analysis. (Author)