Comparative financial information, derived from two national surveys of 559 public community and junior colleges, is presented in this report for fiscal year 1987-88. Chapter 1 provides guidance on the use of the report to compare institutional statistics with national and peer group norms and points out the limitations of the data. Chapter 2 summarizes findings in the areas of expenditures, revenues, service area, and staffing. Chapters 3 and 4 present data on the medians and quartiles for the full sample of 559 colleges, offering information on expenditures by major and detailed categories, computer-related expenditures, revenues, course enrollment distributions, salaries, and student/staff ratios. These chapters also include worksheets to facilitate comparative analyses. Chapter 5 contains medians and quartiles for college peer groups classified by enrollment size and vocational/technical designation. Report highlights indicate that 50% of the institutions surveyed: (1) spent more than 61% of their operating budgets on instruction, research, public service, and academic support; (2) spent more than 37% of their operating budgets on student services, institutional support, and plant operation and maintenance; (3) received more than 68% of their revenues from state and local appropriations; and (4) spent more than 57% of total current fund expenditures on current fund salaries and wages. Appendixes include a description of the research method, sample surveys, definitions of terms, and a list of participating colleges and peer groups. (AJL)