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May 28, 2010 - State Regents Receive Funding for Oklahoma Colleges, Universities  RSS feed

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The Oklahoma State Regents for Higher Education approved today $1.003 billion in state appropriations for the state system of higher education for FY2011, contingent on final approval by Gov. Brad Henry. Of the $1.003 billion appropriation, approximately $59.8 million is from the second year of federal funding through the American Recovery and Reinvestment Act.

The total appropriation represents a 3.3 percent decrease, $34.3 million, from the mid-year FY10 revised state appropriation, or a 6.3 percent, $67.3 million, cut from the original FY10 appropriation.

“We appreciate the outstanding efforts made by Gov. Brad Henry, Speaker Chris Benge, President Pro Tem Glenn Coffee and the Legislature to address the needs of our college and university students,” said Chancellor Glen D. Johnson. “This has been a challenging year for state lawmakers, and we appreciate their continued commitment to higher education especially during a time of record enrollments. By limiting the cuts to higher education, they are helping ensure that students are provided a quality education in order to compete in today’s global economy.”

In addition to the state appropriation, Oklahoma’s Promise (Oklahoma Higher Learning Access Program) received $57 million from a dedicated funding source. This brings higher education’s FY11 state funding to a total of approximately $1.06 billion.

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 FY11. Those operating budgets will be presented to the State Regents at their regularly scheduled June 24 meeting.