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Columbia, Mo.— In his annual State of the State address, Missouri Gov. Mike Parson released his budget recommendations for fiscal year 2024, which include some of the largest investments in higher education in decades. Gov. Parson recommended a 7% increase, or $32 million, in core funding for the University of Missouri System — the largest increase in 25 years. The governor’s budget would provide $275 million for capital improvement projects at public higher education institutions. Gov. Parson also recommended $38 million for MoExcels, a Missouri Department of Higher Education and Workforce Development initiative that facilitates development and expansion of employer-driven education and training programs in collaboration with Missouri colleges and universities.
“Gov. Parson and the Missouri General Assembly have been strong partners for the four University of Missouri System institutions,” UM Board of Curators Chair Michael Williams said. “We are encouraged by the governor’s budget recommendations and grateful for his leadership. Funding such as this enables us to maintain high-quality education and deliver on our research mission for the betterment of all Missourians.”
“For every state dollar invested in the University of Missouri System, Missouri taxpayers get a more than $15 return on their investment — demonstrating that an investment in the UM System is an investment in the vitality of our state,” UM President Mun Choi said. “With four universities, a healthcare system and Extension offices in every county in the state, the UM System reaches every citizen of Missouri and serves as a powerful engine for education, research and outreach. We are grateful to Gov. Parson’s leadership and commitment to higher education.”