Based on data submitted by Michigan's 28 community colleges for 1995-96, this report describes instruction, personnel, revenues, and expenditures at the state's colleges and reviews the state funding formula. Section 1 provides historical data from 1985 to 1996 on state appropriations, property tax revenue, tuition and fee revenues, state equalized valuation, general fund revenues, at-risk student grants, and unduplicated student headcount. Section 2 provides 1995-96 data on instruction and enrollment, including fiscal-year equated students (FYES) (equaling 31 semester credit hours) by instructional sub-activity and element; credit hours in prisoner education; student contact hours compared to student credit hours by state and college; and unduplicated student headcounts. Section 3 provides information on full-time equated (FTE) personnel and ratios of FYES to FTE personnel, while section 4 focuses on general fund revenues, including data on general fund revenue sources; tuition and fees; property taxes; and state aid. Section 5 describes expenditures, including general fund expenditures by activity and per FYES, instructional expenditures per FYES, costs per student contact hour, salary and fringe benefits, average compensation, physical plant expenditures, and energy costs per cubic foot. The final sections present Michigan's community college funding formula for 1997-98 and a summary of revenue losses for 1993-96. The state Activities Classification Structure and definitions of terms are appended. An attached "Data Book Companion" provides tables showing course enrollments for 1995-96, including general fund enrollments, high school student enrollments, and non-general fund enrollments. (HAA)