This report examines the roles and functions of state coordinating and governing boards of higher education. Data are from a study reviewing 20 years' worth of data and a current survey. After an introductory section, the first section analyzes historical trends which suggest modest growth in appropriations over the period. Section 2, based on the current survey, conducted in 1995-96 by the State Higher Education Executive Officers (SHEEO), discusses emerging issues of highest priority. Findings show that "state appropriations to higher education" has dominated SHEEO's concern since 1992, as well as "effectiveness and accountability" issues. New concerns involve issues in "technology" and "learning productivity", while issues in "minority access" and "teacher preparation" have fallen in importance. The third section, also based on the 1996 survey, examines the importance of different functional areas within SHEEO agencies noting that many state boards perceive their roles as more entrepreneurial and less regulatory, while assuming greater responsibility for such issues as the quality of undergraduate education, effectiveness and accountability, and instructional technology. Tables present data on: appropriations and staffing trends; the influence of constitutency groups; and the relative importance of the following functions: operations, planning, policy, academics, external affairs, information, assessment and accountability. Appendices include the survey instrument and methodology details. (Contains 22 references)(BF)