An overview is provided of the fiscal development of the Illinois public community college system. Introductory sections consider the history and administrative structure of the system, and explain special funding provisions of the Public Junior College Act of 1965. The next section provides a profile of past state appropriations, focusing on average tuition rates since 1967, credit hour grant rates from 1966 to 1992, equalization grants, special grants, and other state, federal, and miscellaneous grants. Next, an explanation is provided of the present funding plan, which relies on three major funding sources: (1) state appropriations in the form of credit hour grants, equalization grants, and other special grants, which together represent 29.9% of the colleges' revenues; (2) local funding through property tax assessments, which account for 40.4% of the revenues; and (3) student tuition and fees, which contribute 24.3%. This section also includes a breakdown of total state appropriations from 1966 to 1992, of local property tax equalized assessed valuations for 1969 through 1990, and of changes in sources of college operating revenues between 1973 and 1988. An appendix contains worksheets illustrating the state's community college funding plan, providing formulas and calculations of estimated funds needed and available. (JMC)