FY 2016 UM System State Budget Allocation
Funding for higher education is continuously on a roller coaster of ups and downs. While it is common knowledge that higher education institutions are important for a state’s well being, funding for higher education has not reflected that. Universities across each state are given the tremendous opportunity to educate the future leaders, business owners, and entrepreneurs of the state. These college graduates will pay taxes, create jobs, and many other things that benefit the state; yet states are often reluctant to fund the state’s future through higher education. This is especially true in Missouri, which is ranked 44th in the nation when it comes to funding higher education.
Within the University of Missouri (UM) System, state funding per FTE student has fallen since Fiscal Year (FY) 2001 while net tuition and fees per FTE student have increased. However since FY 2001, UM System schools have increased degree attainment, quality of student learning, affordability, and improved student success. It would seem that UM System schools have been doing extremely well with the limited budget that was given; however, the lack of state funding has left UM System campuses continually battling to keep education affordable, while keeping the quality of education high.
The Associated Students of the University of Missouri (ASUM) along with the University of Missouri System are asking the state to appropriate $441 million for FY2016 core operations, which will help maintain current standards within the university. In addition to the core operations request, ASUM and the UM System are also asking for $53.1 million to enhance Missouri competitiveness. This includes funding to improve STEM Education and Research capacity, the Caring for Missourians Mental Health Initiative, the Missouri College Advising Corps, and an increase in performance funding.
Fully granting the UM System budget request will help to ensure that important projects are started and completed, which will help to make certain the future of the UM System and the state are bright and prosperous. These projects that will create new jobs throughout Missouri, putting Missourians back to work and increasing tax revenues within the state.
Increased revenues for the state are very important, as these revenues help fund essential aspects of the state – such as higher education. It is for this reason that pro-revenue legislation must be supported within the Missouri General Assembly. Such legislation will bring funding for institutions – such as the UM System – that play an active role in ensuring a better future for the state of Missouri. Furthermore, it is important for the Missouri General Assembly and the Governor to fully fund the UM System budget request. Doing so will help to ensure Missouri’s higher education institutions are able to function in a manner that will help Missouri have a bright future.
- ASUM supports the UM System core funding appropriations request of $428.7 million along with an additional $12.3 million for MO-FAST, the joint UMKC/MSU Pharmacy Program, and the MU School of Medicine partnership.
- Full support of bonding initiatives and 50/50 match programs to start/continue capital projects across the UM System
- Students support receiving an additional $53.1 million to enhance Missouri’s competitiveness through STEM initiatives, performance funding, and other projects.