The fifth annual financial report of West Virginia's state system of higher education is presented by the Board of Regents. Current operating revenue and expenditures for fiscal year 1974-75 are given, including trend data pertaining to total revenues and expenditures for fiscal years 1971-72 through 1974-75. Operating revenue and expenditures are classified according to three major categories: Educational and General, Auxiliary Enterprise, and Student Aid. Data for two medical schools are shown separately. This Current Fund Analysis does not include other fund groups, such as Loan Funds, Plant Funds, or Agency Funds. The tables attempt to group similar institutions, but such factors as enrollment differentials, curriculum or academic programs, geographic location, funding levels, and faculty characteristics must be considered. The first section of the report presents and discusses revenue to the state system, and the second section relates to expenditures. The appendix presents supplemental detailed data concerning regular educational and general revenue and expenditures. (LBH)