Comparative financial information derived from a national sample of 405 two-year colleges is presented in this report for fiscal year 1994-95, including data for the national sample and for 6groups of peer institutions. The first section provides introductory information on the annual study, discussing the study sample and the use of study findings, while the second describes limitations of the study with respect to data extrapolation and institutional comparability and explains calculations and definitions. The next section provides a table of institutional participation by state and region, followed by guidelines for developing comparative analyses related to institutional revenues, expenditures, staffing, outcomes ratios, and student characteristics. The next two sections provide data on revenues by source and expenditures by function for the national sample, multi-campus districts, and single-college districts by size (i.e., peer group), presenting tables for credit full-time equivalent (FTE) students and credit and noncredit FTE students. Staffing is then addressed, presenting data on credit FTE students per FTE staff, unduplicated student headcount per FTE staff, and FTE staff and part-time staff as a percentage of FTE staff. Next, selected ratios showing staffing patterns, service areas, appropriations, space and scholarships per student, and budgetary and physical plant information are provided. Finally, data are provided on student characteristics for the national sample, multi-campus districts, and peer groups. Appendixes provide additional information on methodology, the questionnaire, and a list of participating colleges/peer groups. (BCY)