New formula for funding Higher Education

Missouri Western received $1,560 in state appropriations per student in 2012, which is 26.8 percent lower than the average in state appropriation. That may soon change. The Missouri Joint Committee on Education is working to create a new formula for funding higher education with House Bill 1731. President Robert Vartabedian traveled to Warrensburg, Mo., to address the committee on the goals of higher education. “I think now they are just at a stage where their wanting some generic input about higher education and I assume that the Committee on Joint Education will zoom in on some details later,” Vartabedian said. “Right now I think they are just dealing with some broader issues.” By law, the committee is required to establish the appropriation formula by December of 2013 and it will go into effect July 1, 2014. Prior to the Joint Committee forming, higher education lacked a consistent funding formula. “What has happened is we kind of got locked into a formula when we were a much smaller school and then we had some tough financial times, and so we have kind of been punished for growing in many ways,” Vartabedian said. The ‘tough years’ that Vartabedian referred to started in 2007, when Western had to draw $2.6 million from reserves to balance the university budget. Then from 2007 to 2008, the university withdrew an additional $700,000, which resulted in a 10-year low of $4.5 million in reserve funds. According to the Western publication “Seeking a Solution to Unintentional Financial Disparity,” the university has had to cut expenditures by permanently decreasing operating budgets across campus 30 percent and increasing class sizes in most cases to room capacity just to name a few. Vartabedian also said “that by going to Missouri Western, you are not getting the same cut of the pie as other people are at other universities, and we don’t think that’s fair.” Student enrollment numbers and credit hours taken are both being taken into consideration when devising the new funding formula. If total enrollment numbers were considered, Western would receive more state appropriations, placing the university in the same range at other Missouri universities. “I tried to slip in the fact that I know you’re not completely inclined to go on headcount, but I certainly think it should be part of the mix as it is with most states,” Vartabedian said. “That you’re rewarded for growing and you’re not rewarded for not growing, and we have had some pretty significant growth over the past several years such that we are falling more and more behind in terms of per student appropriation.”

23 thoughts on “New formula for funding Higher Education

  1. Unquestionably believe that which you said. Your
    favorite reason appeared to be on the internet the simplest thing to be aware of.
    I say to you, I definitely get irked while people consider worries that they just do not know about.

    You managed to hit the nail upon the top and defined out the whole thing without having side-effects ,
    people can take a signal. Will likely be back to get more.
    Thanks

  2. I’ve been exploring for a little for any high quality articles or blog posts on this kind of area .
    Exploring in Yahoo I at last stumbled upon this
    web site. Studying this info So i am happy to express that
    I’ve a very good uncanny feeling I found out exactly what I needed.
    I most undoubtedly will make sure to don’t omit this web site and
    provides it a look regularly.

  3. Hello! I know this is sort of off-topic however I had to ask.
    Does running a well-established website like yours take a lot of work?
    I am brand new to operating a blog however I do write in my diary every day.
    I’d like to start a blog so I can easily share my experience
    and views online. Please let me know if you have any recommendations
    or tips for brand new aspiring blog owners. Thankyou!

  4. You’re so cool! I don’t believe I have read a single thing like this before.
    So good to discover somebody with some original
    thoughts on this subject matter. Seriously.. thank you for starting this up.

    This web site is one thing that is required on the web,
    someone with some originality!

  5. Pretty section of content. I just stumbled upon your blog and in accession capital to assert that I acquire
    in fact enjoyed account your blog posts. Any way I will be subscribing to your feeds
    and even I achievement you access consistently quickly.

Leave a Reply

Your email address will not be published. Required fields are marked *