Director of Communications
PRESS RELEASE: Board of Governors releases performance funding to universities
TALLAHASSEE—Performance funding is officially in effect for the State University System, with the Board of Governors today authorizing the release of $20 million tied to specific goals for Florida’s public universities.
This year, universities will receive a portion of that total based on scores for three metrics listed in statute: average wages of employed baccalaureate graduates, percent of baccalaureate graduates employed and/or continuing their education further, and cost per undergraduate degree. (See scores and allocations here:http://flbog.edu/documents_meetings/0183_0727_5462_Performance%20Funding%20model_Governors%203%20metrics_2013-9-12%20APPROVED.pdf)
This marks the first step toward a larger, more comprehensive performance-funding model being developed by the board with a total of 10 metrics, which is tied to a $50 million legislative budget request for the upcoming legislative session.
“The Board of Governors is committed to providing access to high-quality, affordable higher education in Florida,” said Board Chairman Dean Colson. “We’re confident this new funding model, and the performance gains it will inspire, will help us make good on that promise.”
“In this first step into performance funding, we’re excited to be able to reward our universities on students’ post-graduation success,” said Tom Kuntz, chair of the board’s budget and finance committee. “Meanwhile, we’re focused on expanding this system into a comprehensive and well-balanced approach that allows for each university to focus on its individual mission while also achieving system goals.”
“The development of a performance-funding model for the State University System provides a good example of the collaborative spirit among the Board of Governors, universities and their boards of trustees, and our state leaders,” said Jan Ignash, interim chancellor of the State University System. “Clearly we all are working together to align higher education and the state’s highest priorities.”
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Facts about the State University System of Florida and the Board of Governors
The State University System of Florida is a constitutional body led by the 17-member Board of Governors. The system has 12 universities and more than 335,000 students, making it the second-largest public university system in the nation. Responsibilities include defining the distinctive mission of each institution and managing the system’s coordination and operation. The Board appoints a Chancellor who serves as the system’s chief executive. For more, visit www.flbog.edu.