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USF ranks first in performance-based funding metrics, receives $75 million allocation

In the performance-based funding model, USF scored the most points in five out of 10 metrics, including four-year graduation rate and bachelor’s degrees awarded in areas of strategic emphasis. SPECIAL TO THE ORACLE

With the highest score in five different metrics, USF was ranked first in the state by the Board of Governors (BOG) in performance-based funding and achieved the top score for the State University System.

The BOG approved Thursday afternoon the allocation of the performance-based funds for the 2020-2021 academic year, of which USF was awarded a total of $75,913,556. With an increase of two points from last year, USF scored 94 points out of 100 and achieved its highest performance-based funding score to date, ahead of UF and FSU, with 90 and 85 points, respectively.

Although USF scored more points this year, it saw a decrease in funds compared to previous years. In the 2019-2020 academic year, the university received a total of $77,142,361 in performance-based funding, according to the BOG’s 2019-20 Allocation Summary.

Established in 2014, the performance-based funding model annually evaluates the 12 Florida universities on 10 different metrics, including four-year graduation rate, percent of bachelor’s degrees without excess hours and academic progress rate.

In the model, USF scored the most points in the state in five metrics, including four-year graduation rate, bachelor’s degrees awarded in areas of strategic emphasis, graduate degrees awarded in areas of strategic emphasis, percent of bachelor’s degrees without excess hours and net tuition and fees per 120 credit hours. 

Over the years, the model has awarded more than $1.5 billion to universities across the state for performance outcomes. This year, the current funding recommendation is $560 million, according to BOG Vice Chancellor and CFO Tim Jones.

The top three universities, including ties, will automatically receive 100 percent of their state investment. Alongside USF, UF and UCF were also ranked in the top three, with 90 and 89 points, respectively.

Universities with the same or higher scores as previous years will also receive 100 percent of their allocation of the state investment.

If a university declines two years in a row, it is required to present a student improvement plan to the board in order to be considered for its full allocation.

Last year, FAMU, FIU and New College of Florida were on the watchlist, however, due to improvements, they won’t have to do the student improvement plan. Next year, FAU and UWF will be on the BOG’s watchlist.

With the BOG’s approval of the performance funds, USF will receive its share after Gov. Ron DeSantis signs this year’s state budget in June.