Maryland's 1988 Higher Education Reorganization Act established an accountability process that requires the governing boards of public colleges and universities to submit annual performance accountability reports to the Maryland Higher Education Commission. In 2001, the Commission approved major changes in the accountability process and established different reporting requirements for two-year and four-year institutions. Volume 1 of the accountability report, contains: (1) an overview of the history and major features of the accountability process; (2) the assessment of the Commission regarding the outcome of the year's accountability effort by the public campuses; (3) an examination of cost containment activities at the public campuses; and (4) one-page profiles for each public college and university containing a short campus profile and data and benchmarks on key indicators. Volume 2 provides institutional performance accountability reports from community colleges, comprehensive/liberal arts colleges and universities, and research universities; indicators and definitions; guidelines for benchmarks; and accountability report format. Overall, the report concludes that the accountability reports of the community colleges were superior and the reports of the four-year institutions were satisfactory, although they varied in quality and completeness. Both types of institutions appeared to be making progress toward their objectives. (SLD)