Book Review: Financing Community Colleges: Where We Are, Where We’re Going by Romano, R. M., & Palmer, J. C.:

Financing Community Colleges: Where We Are, Where We're Going is part of a series sponsored by the Association of Community College Trustees which is designed to help current and future leaders embrace innovative thinking that will be required to address forthcoming challenges. Richard Romano and James Palmer, two highly regarded scholars, offer a volume which helps future leaders learn about and prepare for issues related to access, tuition and affordability, performance-based funding, and, ultimately, the mission of the comprehensive community college.Although the book has significant usefulness by providing insights on the complexities of community college finance, its greatest value may be as a textbook for future leaders who are currently in graduate programs in higher education or community college leadership. The authors present solutions for current and emerging financial puzzles and provide valuable scenarios examining the many of the topics future leaders will face. Indeed, a key rationale for writing the book was research that indicated current and prospective leaders feel their skills are weakest in finance and resource management. This book addresses many of the issues for which leaders need to be prepared.The opening section of the book, consisting of the first two chapters, does more than "set the table" through a review of the current state of public finance, revenues, and expenditures. These chapters are much more than practical background knowledge; the content is based on research completed by the authors and other leading scholars. In Chapter 1, for example, the principles of finance are articulated through discussion ofthe proper role of government in higher education, including how community college leaders can justify public subsidy of high education and clearly articulate the consequences of the drastic reductions in public funding for community college,understanding issues related to both horizontal equity (treating students with similar or equal needs equally) and vertical equity (treating unequal students unequally), and promoting the role of vertical equity in the community college mission, andfinding the most desirable balance between tuition and public funding for community colleges and how to secure the correct mix of revenue streams to maximize private and social benefits while assuring access to these benefits for low income and traditionally marginalized people.These concepts provide the basis for conversations in which all community college leaders and future leaders should find themselves. Indeed, the final chapter of the book suggests future conversations in the form of scenarios; an example is a discussion of the shifting mission of the community college: "While its interchangeable nature has made some wonder if the community college was confused about its mission, others would claim that it was just responding to the needs of the communities it served" (p. 157).The middle section of the book, Chapters 3 to 5, includes information on trends in revenues and expenditures, the accountability movement and measuring productivity, and various aspects of performance-based funding and how leaders can influence the future of this funding system. Again, the content of these chapters is strongly grounded in research. The most significant contribution in this section may be found in Chapter 4. The authors clarify the argument that outcomes at community colleges are complex because they are multimodal institutions that serve primarily students who "have unclear goals and a weak attachment to higher education" (p. 64). Because of these factors, there is a need to focus on community college outputs that recognize the ability of the students admitted. This places the modern community college squarely in line with the words of former Harvard University President Derek Bok: "The college that takes students with modest entering abilities and improves their abilities substantially contributes more than the school that takes very bright students and helps them develop only modestly" ([Brush, 2006], p. …