As the nation's school buildings age and deteriorate, spending on maintenance and operations (M&O) remains paltry, especially when compared with historical figures. This article presents the findings of "American School & University's" 35th annual Maintenance and Operations Cost Study. According to the M&O Cost Study, the median school district spends 7.58% of total district expenditures (TDE) on M&O. The amount is about even with what was allocated last year, and more than 2% lower than the 9.59% of budget spent 10 years ago--reflecting the rather low priority many school districts place on the condition of facilities where children learn. (Contains 2 tables.)