Article archive / April 1, 2016
Originally published: . Volume 7, No. 4. Source pages: 7.
In a March 23 news memo, the Board of Regents wrote that they reviewed and accepted the 2016- 2017 funding recommendations.
In their memo, they noted, “The Revenue Estimating Conference (REC) met last week and revised the revenue estimate to account for various measures enacted by the legislature during the 1st Special Legislative Session of 2016. Taking in to account the various revenue bills, approximately $1.26 B was raised for FY 17. The latest shortfall calculation for FY 17 has been reduced from approximately $2 B to approximately $747 M.”
The Regents’ notice said that the preliminary recommendation which was approved on March 23 is based on distributing available funds in the executive budget through the “outcomes-based funding formula models for 2 and 4-year institutions and a pro-rata distribution for the specialized institutions.” Also, “With regard to the 2 and 4-year institutions, 70% of the distribution is based on each institution’s existing operating budget base, 15% is based on cost, and 15% is based on outcomes.”
They said that final distribution will be determined by the funds appropriated in the final version of the appropriations bill and will be presented for approval at their June 2016 meeting.
This article is part of a historical newspaper archive. Read the original issue for its original layout, photographs and graphics.