This study examined the institutional capacity and financial base of rural community colleges to provide access and economic development. It employed the U.S. Department of Education's Integrated Postsecondary Education Data Base System (IPEDS) Finance Module to compare revenue and expenditure categories for fiscal years 1992-93 and 1996-97 for small, medium, and large rural community colleges using the typology of public community college developed by Katsinas and Lacey. To develop appropriate per student FTE data, institutions had to have responded to the IPEDS Fall Enrollment and Finance Modules for both years--83.5% did so in fiscal year 1993 and 84.3% in fiscal year 1997. The study found: (1) significantly higher expenditures per FTE student--nearly $2,500 higher for small rural community colleges; and (2) significant differences in the revenue patterns at rural community colleges, compared with the universe of public (including suburban and urban) community colleges. Rural community colleges received a much lower share of their total budgets from local sources, and are therefore more dependent upon state funding. The higher non-tuition related cost of attendance in rural areas restricts the ability of rural community colleges to compensate for the shortfall of state dollars from tuition. The study also found that in constant dollars, total revenue declined between fiscal year 1993 and fiscal year 1997, despite five of the best economic years for state budgets since the 1960s. Includes recommendations for state policy. Appended are ANOVA trials. (Contains 156 references.) (KP)