As the state legislature finalizes its budget in Tallahassee and the allocation of funds appears to be moving toward universities’ performance, USF is poised to receive the second highest amount of funding out of all Florida universities, according to a projection from the Florida Board of Governors (BOG).
While the BOG allocated $20 million last year to be split among state universities for their performance on three metrics, this year $50 million is expected to be at stake and universities will be judged on 10 metrics – eight universal ones, one chosen by the BOG for the individual university and one chosen by the university.
According to the BOG’s projections, USF would receive $8.9 million in performance-based funds, second only to UF, which is poised to receive $11.7 million, pending legislative approval.
Universities were evaluated on a scale of 1 to 5 on each metric, which ranged from average cost per degree to the institution to academic progress rate. While USF earned full points for the “access rate” metric and percentage of graduate degrees awarded in areas of strategic emphasis including STEM fields, the university earned a 1 for its 62 percent six-year graduation rate and a 0 for percentage of students graduating without excess credit hours – the metric the Board chose specifically for USF. However, USF did earn a 5 for its 8 percent improvement in its six-year graduation rate since last year.
At the beginning of the year, State University System Chancellor Marshall Criser said the performance-based model was one that provided accountability of universities to Florida taxpayers.
“It’s Florida’s money,” Criser said. “It’s about how we can best and most responsibly invest Florida’s money. … What we establish is credibility for why (legislators) should provide funding. … We have to fight for our seat at the table.”
– Staff report