This publication provides governmental and higher education decision-makers a statewide perspective of Arkansas public higher education finance for the 2005-07 biennium, as well as trends for the past several years. It also contains a detailed financial profile of each institution and presents a basis for comparative assessments of revenue sources and expenditure patterns. The Fact Book contains seven sections: (1) the Arkansas Higher Education Coordinating Board recommendations for appropriations for the 2005-07 biennium; (2) 2005-07 legislative appropriations; (3) funding history of Arkansas higher education; (4) history of current fund revenues and expenditures; (5) history of unrestricted educational and general and auxiliary revenues and expenditures; (6) history of athletic revenues and expenditures; and (7) miscellaneous supplemental information. The Financial Profiles section of the 2005 Fact Book relies on Series 17 information submitted by institutions of higher education for revenue and expenditure breakouts. Also, in an effort to assist the reader in analyzing specific trends, Section 5 focuses on individual institutions with profile sections that contain five years of data.