An analysis by the Commission on Financial Postsecondary Education of the system by which New Jersey supports county colleges revealed disparities and inequities among the New Jersey counties in wealth and effort per full-time equivalent student, and current state financing practices that aggravate this problem. In response, alternative state financing systems were proposed to provide more equitable funding. This report first illustrates how state financing based on a "flat-grant" system exacerbates the differences in wealth between counties caused by variations in county property values and taxation efforts. The current system of county college support is then discussed, with consideration given to all counties, county colleges, and county appropriations to colleges. The report than describes alternative financial systems which treat all counties as if they had the same wealth, so that counties making similar taxation efforts will generate similar revenues. The conclusion lists several additional factors to be considered before any of the alternative plans can be implemented. Several illustrative charts and tables are included throughout the text, and three appendices provide: (1) a formula for the equalization of state funds to the counties, (2) a discussion of possible county responses to an equalizing model, and (3) the raw data used to make certain calculations. (JP)