This two-way, fixed effects analysis examines the relationship between local appropriations and community college state governance structures while examining governance's moderating impact on state-level factors. We find that any type of state-level organization for community colleges does not impact local appropriations, and that in states with no formal coordinating authority, local appropriations are likely to be higher. Further, the absence of a state-level board, even one that includes four-year, primary, or secondary education, moderates the relationship between unemployment and appropriations. This relationship suggests that in states without a state-level board for community colleges, local governments invest in and leverage their community colleges in times of economic decline. Based on our findings, resisting centralization efforts might be to the benefit of community colleges in terms of finances and autonomy; however, this does not consider the impacts varying degrees of centralization might have on stakeholders outside of the local appropriations process.