Universities looking to replace stimulus funding
NESBIT — Higher Education Commissioner Hank Bounds says Mississippi’s universities have shaved $91 million from operating expenses, but will still need more state money next fiscal year.
The spending proposal presented to the Joint Legislative Budget Committee yesterday seeks state money to replace $66 million in federal stimulus funds that will be lost after this year.
In all, the system has asked for nearly $96 million in additional state funding for the year that begins next July 1.
Bounds said tuition increases brought in an additional $28.2 million last year. He said the $91 million in cost-savings came through various measures, including cutting positions, eliminating programs and combining some campuses’ office operations.
Bounds said Mississippi’s strategies for coping with a tight budget aren’t as severe as those in some surrounding states. He said nearly every contiguous state has more than doubled tuition. He said the only exception is Arkansas.
The university system’s current budget, including the stimulus, is about $716 million. The system is requesting $746 million from the state for next year.
Many of the committee members said education should be a priority when lawmakers return to the Capitol in January for the 2011 legislative session. The Budget Committee is holding hearings this week for state agencies to make their initial pitches for funding.
To sign up for Mississippi Business Daily Updates, click here.
Mississippi Economic Council
Mississippi Chambers of Commerce
Mississippi State Legislature
Mississippi Development Authority
Mississippi Economic Development Council
North Mississippi News
Social Security Disability Lawyer
Auto Accidents Lawyer
Top Posts & Pages
- Shale oil: market correction or longterm direction?
- Aluminum company rumored for Columbus: 'clock' is for website, not plant site
- Tanger Outlets involved in Southaven project
- DAVID DALLAS: Who in the Hell are We?
- Hyatt-Place is Columbus’ newest hotel option
- J.McLaughlin to open in Highland Village next spring
- New Mississippi state highway map is available for the public
- MBJ exclusive: Jackson’s new airport CEO fulfills desire to taking on the top job
- Analysts hail BancorpSouth stock buyback as ‘handsome’ reward for shareholders