A panel of state lawmakers holds a hearing at the University of Central Missouri this week on creation of a funding formula for higher education institutions.
Tuesday's hearing is the second of three scheduled by the Legislature's Joint Committee on Education.
A bill approved earlier this year directed the committee to develop a funding formula by the end of 2013 and said the Legislature should implement it for the 2015 budget year.
Republican Sen. David Pearce, of Warrensburg, chairs the 14-member committee. He says the panel wants ideas for developing a rational basis for core funding for colleges and universities, and for setting performance-based standards.
Pearce says more than 12 states recently have developed performance evaluation standards that consider such factors as a school's mission and rates of student retention.