The Maryland Board for Higher Education's consolidated capital and operating budget for fiscal year 1986 for higher education institutions and agencies is presented. Recommendations of the Board are summarized, and the status of higher education funding is briefly discussed. Methods of funding institutional budget requests for the capital and operating budgets are considered, along with factors that the Board assessed in making its recommendations. Data are included on expenditures by institution for desegregation. Extensive statistical tables for each state college provide information on the following: expenditures at each institution per full-time equivalent student (FTES); percent change in objects of expenditures; actual and estimated headcount enrollment; number of full-time equivalent faculty; research expenditures and grants received; number and type of student financial aid awards; and administrative expenditures per FTES. For each campus, operating budget data are provided on: objects of expenditure and revenues by funding source, number of positions by program, expenditures by program, and distribution of funds by educational level. Institutional data on the capital budget recommendations includes: building space, program majors, plant operations, and public safety. (SW)