UM Legislative Update

UM Legislative Update

 
Board approves university budget request

Board approves university budget request

At its July 19 meeting, the University of Missouri Board of Curators approved the state appropriations request for fiscal year 2015. Included in this year’s request is $434.6 million for core operations and performance. Contained within this amount is $407.5 million for the University’s operating budget, $2 million for the UMKC and Missouri State University joint pharmacy program, $340,000 for the Missouri Federal and State Technology Partnership Program, $10 million for the MU School of Medicine partnership with CoxHealth and Mercy health systems in Springfield, and $14.8 million for performance funding based on the Department of Higher Education’s metrics.

The FY15 proposal also includes a request for $59.9 million to advance the University’s economic competitiveness. Within the total is $50.9 million for STEM education and research capacity. The remaining $9 million would be dedicated to endowed professorships and scholarships and to the Missouri College Advising Corps, which assists high school students as they plan for college.

The Coordinating Board for Higher Education approved the FY 15 budget request for all higher education institutions at its September 5 meeting. The Board recommended funding for every institution at its FY 14 level, as instructed by the State Budget Director. For the University of Missouri System, an operating request of $407.5 million was approved. The Board also included UM’s request for $2 million for the UMKC and Missouri State University pharmacy program and the $10 million requested for the MU School of Medicine and Springfield partnership.

Accompanying the CBHE’s core request is an alternative request submitted by the Department of Higher Education for target initiatives, totaling $59 million. Within this amount is $7.8 million for an increase in institutional base budgets, $31.2 million for the performance funding pool, and $20 million for Caring for Missourians II.

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