The System Funding Task Force (SFTF) of the Illinois Community College Board was formed to review the recommendations and framework for modifying the state's funding plan developed by the Board's President's Council. This report presents the SFTF's review of the Council's findings and presents the Task Force's own recommendations for funding. Following a list of Task Force members, the first chapter describes the purpose of the Task Force. The second chapter reviews the Council's report, focusing on the following six funding objectives informing the analysis, while the third chapter reviews 13 principles adopted by the council to guide future funding plan development and 8 additional principles also considered worthy of consideration. Finally, chapter 4 provides a discussion of the Council's funding principles, presenting seven principles recommended by the SFTF, as well as discussions and Task Force recommendations for the following funding objectives: (1) the creation of a separate funding category for operations and maintenance funding to replace the current enrollment-based method; (2) reforming the formula used to allocate state equalization grant, setting 85% of the statewide average tuition rate as a qualifier to receive grants; (3) moving from the current residual-based funding system, in which grants are calculated on needs remaining after local revenue is included; (4) obtaining block grants for special populations, workforce preparation, and advanced technology equipment; and (5) moving toward performance-based funding. A glossary of terms is attached. (HAA)