Kentucky university funds may be based in part on number of degrees
Frankfort -- For the past few months, Kentucky’s university presidents and policymakers have tried to create a way to tie some of their state funding to outcomes like higher graduation rates and more degrees in science and technology.
What they have come up with, however, is far more sweeping: A new statewide funding formula that could determine how all state appropriations are handed out. On Monday, the presidents held their final meeting at the Council on Postsecondary Education, and said they were close to a plan that they could present to Gov. Matt Bevin and the General Assembly by the Dec. 2 deadline.
“My hope is we can present a model with enough merit and consensus that the General Assembly can have confidence that it will work,” said Western Kentucky University President Gary Ransdell, who’s been chairing the task force. “There’s a lot at stake for Kentucky and our institutions, that’s why concerns and emotions have run deep.”
The formula will have to divide up $49 million, the 5 percent that Bevin appropriated to outcomes in the next fiscal year. But depending on what kind of legislation is written in the upcoming session in January, the formula could quickly encompass all funding.
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