operating expense

"Our proven scale efficiencies have been enhanced by our investment in AI, which has driven down operating expenses and improved gross profits," it said.

But some critics say the modification, if granted, would have that effect, since it would appear to allow bequest funds to be put toward what are typically viewed as operating expenses.

At no point has SPS presented serious financial analysis showing “how” closing schools will lower operating expenses.

Ortega cited Housing Department research showing that of the income that a landlord receives annually from tenants, about 35% goes into operating expenses for the property.

About $45 million of the operating expenses are used by the Academy Museum of Motion Pictures.