May 23, 2008 :: State Regents Receive Decreased State Funding for Colleges, Universities
The Oklahoma State Regents for Higher Education approved today $1 billion for state colleges and universities for fiscal year 2009. This is a 5.9 percent decrease from last year’s appropriation of $1.1 billion.
The decrease in funding is due to the removal of Oklahoma’s Promise scholarship funding from the State Regents’ base appropriation. Last year, the Legislature approved a permanent funding source for Oklahoma’s Promise. Furthermore, the decrease is due to the removal of one-time funds appropriated in FY08.
“We appreciate the efforts made by the legislative leadership and the governor to address the needs of our college and university students during a difficult budget year,” said Chancellor Glen D. Johnson. “Our top priority with this year’s appropriation will be to aid our campuses as much as we can in order to prepare students to compete successfully.”
During the 2008 legislative session, the State Regents had asked lawmakers for $145.2 million in new funding for campus operations and programs in higher education.
For state colleges and universities, the next step is to apply their appropriations together with tuition and fees and other revolving funds income to formulate campus operating budgets for FY09. These operating budgets will be presented to the State Regents at their regularly scheduled June 26 meeting.