Comparative financial information for fiscal year 1985-86 is presented in this report derived from two surveys of 506 public community and junior colleges. Chapter 1 provides guidance on the use of the report in comparing institutional statistics with national and peer group medians; points out limitations of the data; and summarizes findings in the areas of expenditures. Chapters 2 and 3 present data on the medians and quartiles for the full sample, touching upon expenditures, revenues, course enrollment distributions, salaries, and student/staff ratios. Chapter 4 offers medians and quartiles for institutional peer groups classified by enrollment size and vocational/technical designation. Report highlights indicate that half the institutions surveyed: (1) spent more than 61% of their operating budget on instruction, research, public service, and academic support; (2) spent more than 36% of their operating budget on student services, institutional support, and plant operation and maintenance; (3) spent more than 4% of their operating budgets on utilities; (4) spent more than 3% of their operating budget on computer-related expenditures; (5) received 68% of their revenues from state and local appropriations; (6) enrolled more than one in every 20 people for credit or noncredit course work during the year; (7) had student-to-faculty ratios for credit instruction of less than 17:1; and (8) spent more than 57% of total current fund expenditures on current fund salaries and wages. (EJV)