This cost analysis reports on a year-round education program in the Oxnard School District, California. Twelve of the district's 15 K-8 schools are maintained on four staggered year-round education tracks; a fifth track offers the traditional calendar to two schools. Year-round education was implemented in 1976 to accommodate a sudden increase in student enrollment during a period of funding limitations. Cost effectiveness is analyzed in terms of past, present, and projected financial and enrollment data, which are presented in tables throughout the report. Three methods of cost analysis demonstrated lower costs than traditional schools because of the per-pupil cost advantage in maintaining a larger student population with classes (tracks) spread through a 12-month calendar. Questionnaires that solicited parents' perceptions of the programs (appended to the report) reveal definitive support. Year-round education has shown a substantial saving in operational and capital expenses. The report's 10 attachments include the schools' yearly enrollment figures, school calendars, student assignment procedures, and performance requirements for personnel. (CJH)