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May 25, 2012 - State Regents Receive Funding for Oklahoma Colleges, Universities

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The Oklahoma State Regents for Higher Education approved Friday $1.012 billion in state appropriations for the state system of higher education for FY 2013, contingent on final approval by Gov. Mary Fallin. This represents a $3.8 million or 0.4 percent increase from the FY 2012 appropriation.

The budget includes $57 million in dedicated funds for the Oklahoma Promise scholarship program, a decrease of $6.2 million from the amount funded in FY 2012.

“We appreciate the efforts made by Gov. Fallin, President Pro Tem Brian Bingman, Speaker Kris Steele and the members of the Senate and House to address the needs of our state higher education institutions,” said Chancellor Glen D. Johnson. “We will work with our colleges and universities to ensure that this appropriation is allocated efficiently in order to continue our efforts to provide a quality academic product to our students at a very affordable cost.”

For state colleges and universities, the next step in the budget process is to formulate their operating budgets for FY 2013. These proposed operating budgets and recommended tuition rates will be presented to the State Regents at their June 20 meeting and voted on at the June 21 meeting.