An extensive library listing of 65 institutional indicators is designed to alert administrators of higher education to a number of appropriate signals of institutional vitality. Some indicators reflect financial condition in general, while others signal specific features of the educational environment. Regular monitoring of these indicators can warn academic administrators of impending shifts in national and regional educational policies, institutional competition, environmental trends and temporal conditions. All indicators are directly related to the primary services of undergraduate and graduate instruction, research and community instruction. Among the indicators identified are: applications for admission per spaces available; transfers in; transfers out; cost of recruiting each new student; morale of students; new courses developed; department support personnel per faculty member; and number of grant proposals. In addition to a checklist of indicators, the measure of each indicator and its source of data are also provided. One supplementary source is listed. (DC)