Lawmakers consider higher education funding formula
Mon, 10 Dec 2012 21:11:09 GMT —
JEFFERSON CITY, Mo. (AP) -- A proposal being considered by Missouri lawmakers would base 10 percent of funding for public colleges and universities on whether they meet performance goals.
The plan outlined Monday for a joint House and Senate Education Committee is part of an attempt to develop a funding formula for higher education institutions.
Budgets for Missouri colleges and universities currently are based on their historic funding levels, although there is the potential for a small percentage of additional dollars to be distributed based on performance criteria.
Under the new proposal, the state would fund 35 percent of an institution's operating costs. Of that amount, 90 would be automatic and the remaining 10 percent would depend on whether they meet specific performance goals such as retaining students.