This paper presents the public higher education system trends in Connecticut for 2004. This report contains the following sections: (1) FY 2003-2005 Operating Budget Summary; (2) Higher Education in a Statewide Context; (3) General Fund and Operating Budget Expenditure Trends; (4) Comparative Funding Indicators; (5) Enrollment Trends; (6) Degrees Conferred; (7) Position Trends; (8) Tuition and Fees; (9) Student and State Share of Costs; (10) Student Aid and Statutory Waivers; and (11) Capital Budget.