This document presents funding proposals from the Alabama Commission on Higher Education for the 1994-95 Fiscal Year. Individual sections present the following: (1) executive summary of the Unified Budget Recommendations; (2) the unified budget recommendation with program detail on 1992-93 and 1993-94 appropriations and 1994-95 requests, regional standards, and recommendations; (3) funding formulas and the budget recommendation process; (4) supporting data for senior institutions' funding formulas; (5) supporting data for 2-year institutions' funding formulas; and (6) description of critical capital needs in the state's public higher education system. A transmission letter argues that three conditions should be maintained: that the distribution of funds between broad sectors of education remain as in previous years; that all institutions receive additional relief from several years of budget reduction; and that all institutions attain 100 percent of the Regional Standard funding recommendations. (JB)