A Missouri legislative committee is creating a new funding model for the state's public colleges and universities.
The Joint Committee on Education plans to release a detailed draft Monday at the state Capitol. The panel will accept public comment on the proposal until Feb. 11.
A recently approved state law requires development of a higher education funding formula similar to the one used for public school districts. Missouri now bases funding for colleges and universities largely on how much they've received in past years and how much money is available.
Governor Jay Nixon pitched a nearly $26 billion budget to the state of Missouri during Monday night's State of the State Address. It includes spending increases for K-12 schools, higher education, and the proposed Medicaid expansion he’s been calling for since late November.
The Missouri legislative panel will hold its second of three higher education hearings Tuesday at the University of Central Missouri in Warrensburg.
The legislature’s Joint Committee on Education is working to develop a funding formula that would divide state money given to higher education institutions. State Representative Mike Lair said he would like to see Missouri’s community colleges included in the new budget. But, he said the new budget’s success depends on cooperation from all office holders.
Governor Jay Nixon’s withholdings announced Friday are expected to be felt by Missouri’s higher-education institutions. Nixon announced the removal of $9 million from the budgets of Missouri’s public colleges and universities, effective July 1st. It’s part of $15 million withheld from a budget Nixon says is $50 million out of balance.