Each year, the Board of Trustees of Prince George's Community College (PGCC) in Largo, Maryland, must submit a report evaluating the effectiveness of PGCC's financial plan to the state's Higher Education Committee and General Assembly. This document provides the report for fiscal year (FY) 1994 divided into four sections. The first section reviews the cost containment measures taken in FY 1992, 1993, and 1994 to maintain low tuition in spite of cuts in state funding in both direct aid and contribution programs. These measures included employee furloughs and reduction of the administrative staff by 17% prior to FY 1994, and renegotiated health insurance costs and continuing a freeze on cost-of-living increases in FY 1994. The second section analyzes the total cost per full-time equivalent (FTE) student by instructional discipline, indicating that per-student costs ranged from a low of $3,201 per FTE in Paralegal Studies to a high of $7,047 in Education, resulting in an average cost of $4,299 per FTE student. The third section provides an evaluation of enrollment, student outcomes, and cost analysis of the disciplines reporting the highest costs in FY 1993: computer service technology, drafting, horticulture, nuclear medicine, office technology, and respiratory therapy. The final section reviews Prince George's County contributions to community colleges for FY 1987 through FY 1994, indicating that for FY 1994 the County provided 27% of the college's budget, and compares community college funding levels for peer counties in Maryland. Data tables are included. (MAB)