I spent years as a student and working at a large research University and let’s be very, very generous and say that there were 30 people detailed to this “#metoo incident” mitigation and action squad. Of the thousands and thousands of other nonfaculty staff payroll; of the many millions the library system pays for journal access alone, let alone special collections and acquisition; of the cost of running the steam for heating the buildings, the computing infrastructure; etc., etc. how non-trivial do you expect this Title IV portion to be?
This is caused by external forces like Title IX compliance, but also by the expectation that, since students are now essentially the consumers of a luxury good, they expect impeccable and instantaneous “customer service”.
A non-trivial portion goes to legal expenses and risk management. It started with the concept of in loco parentis (in the place of the parent). University students stopped being adults and became children.
Obama's interpretation of Title IX was also catastrophic for expenses. All of a sudden you had to set up your own internal pseudo-court system and have an entire mechanism for handling even the most dubious of accusations. These things are not free.
This has snowballed into other pseudo-legal aspects and the social justice movement is just monumentally expensive to deal with. It's not a question of if a #metoo incident happens on your campus, it's a matter when. What steps did you take to prevent it? What staff do you have in place to react?
And the worst is that once you've hired these staff they're there forever. There will never will a point of mission accomplished, perfect equity, or an environment sufficiently free of even the smallest of nano-harassments for a university to rid itself of this burden.
Don't get me wrong, there's a country club and sports team aspect to a lot of university expenses, but the primary purpose of most universities is not education, research, or anything along those lines - it's to avoid getting sued into oblivion.