This report offers a baseline description of California Community College (CCC) financing in an effort to assess how well the system can meet the challenges of the future. It focuses on three questions regarding the financing of California's community colleges. They are: (1) How does financing for California community colleges compare to financing for other educational institutions in the state and in other states? (2) Are there differences in revenues across districts and what accounts for them? (3) Are there other current or potential sources of revenue for the community colleges that could augment their resources? California's community colleges appear to be providing considerable value to the state's residents in light of the resources at its disposal. The colleges have managed to pursue their multifaceted mission with a level of funding that is low compared to that of other states and the other California education systems. If California's community colleges are to play a significant role in the state higher education, and by extension its economic future, making more resources available to the CCC system is likely to be necessary. A reformed and more transparent allocation system should accompany any additional investment, however, to ensure accountability.