Presenting a summary of matters discussed at the April 18-19, 1993, meeting of the California Postsecondary Education Commission (CPEC), this report includes a review of action items and informational items, and notes from a meeting of the Committee on the Financing and Future of California Higher Education. The five action items reviewed include summaries of comments from the meeting and the Commission's disposition of each item. They are as follows: Restructuring the State's Financial Aid Programs; Undergraduate Student Charges and Financial Aid at California's Public Universities; Expenditures for University Instruction; and Status Report on Human Corps Activities. The eight information items reviewed include the following: Changing the Mix of Faculty Activities; Increased Use of Technology; Increased Use of Facilities; Establish Uniform Statewide Faculty Salary Schedules in the California Community Colleges (CCC); Reducing the Cost of Providing Instruction by Lowering Faculty Compensation; Shift Students to Lower-Cost Institutions; Reduced Statewide Governance Costs for the CCC; and Facilitating Undergraduate Enrollment in Colleges and Universities in Other Western States. Included as a lengthy attachment is the CPEC report, "The Master Plan, Then and Now: Policies of 'A Master Plan for Higher Education 1960-1975,' in Light of 1993 Realities," which includes sections covering the background to the Master Plan; the mission and function of the community colleges and the two state university systems; governance and structure; access; student selection and retention; faculty supply and demand; adult education; and costs, fees and financing for the three postsecondary systems. (PAA)