Higher Education May Get Performance Based Funding
JEFFERSON CITY - The Missouri Department for Higher Education is pushing for performance-based funding. The Department presented their report to The Coordinating Board for Higher Education Thursday, and received approval. This proposed legislation will be presented at the next legislative budget meeting, where funding (if the state has any to give) will be appropriated.
Performance based funding means that higher education institutions are provided with incentives to receive this money, in addition to their normal funding. The task force that would be in charge of determing which instutions would get the funding...and how much. This decision is based on five key categories.
- Student success and progress
- Increased degree attainment
- Quality of student learning
- Financial responsibility
- Institution specific measure
The institution specific measure will be determined by the Missouri Department of Higher Education. It will focus on certain goals that the department feels the university or college should work on.
There are no guidelines determining what the extra funding would be used for, it's purely to provide some extra incentives.
If this goes into effect the earliest institutions could expect to see money, would be about a year and a half from now. After proposing this to the state legislature, the Department of Higher Education will spend a year gathering extra data.
There's no way to tell how much money each institution will get, until the state legislature does the budget and appropriations. The most each institution could expect to receive, if they perform at their best, is no more than five percent of their base funding.