A plan for community college finance in 1981 is presented, based on an examination of socioeconomic factors likely to affect the California community colleges between 1981 and 1985. The report first outlines 11 assumptions concerning trends in community college finance and mission and, then, presents a general approach to financing the California colleges. The approach calls for the removal of some existing legal constraints on the use of college resources; the implementation of a new compliance process; the improvement of fiscal decision-making; and the passage of short-term legislation designed to compensate for the small revenue increase anticipated for the 1981-1982 budget. The report then offers eight policy recommendations, discussing in detail qualifications and options. These recommendations are to: (1) retain with modifications the present structure for appropriating funds to colleges; (2) match private contributions in support of occupational education with state funds; (3) limit categorical aid to currently operating programs; (4) appropriate funds giving priority to considerations of inflation and equity; then to growth, and finally to programmatic changes; (5) rely primarily on state general fund revenues and property taxes; (6) rely on Assembly Bill 2973 (California 1980) for support of capital outlay; (7) simplify the capital outlay review process; and (8) reduce constraints on districts' ability to plan and allocate resources. (JP)