JACKSON — The price of predictability for Mississippi’s public universities is likely to be less money to spend on capital projects in the state’s 2016 budget year.
The College Board yesterday approved $710 million in bonding requests, as agencies make requests of the Legislature in advance of next year’s sessions.
Lawmakers are likely to borrow much less.
Next year will be the final year of a three-year plan meant to reduce uncertainty over bond amounts. Universities would get about $68 million next year under the agreement, down from more than $95 million this year and last year.
Lawmakers borrowed $61.5 million over the last two years for a new medical school building at the University of Mississippi Medical Center. Lawmakers may not borrow any money for the medical center in 2016.