FY2009 Funding Request
FY09 New Funds Request = $145.2 million
Total FY2008 Funding Request = $1.2 billion
Details of New Funds Request
Maximize state appropriations to Oklahoma’s campuses
Funding increases over the last few years have helped close the gap in per-student funding. These increases have also allowed institutions to better meet the demands of near-record enrollment and the growth in demand for quality educational experiences. Additional funding to operational budgets of the institutions in FY 2009 is crucial in order to maintain the momentum created in recent legislative sessions.
- Allocate educational funding to Oklahoma campuses.
- Increase per-student funding.
- “Maximized appropriations” will:
- Fund more faculty positions.
- Add more course sections.
- Provide equity base adjustments.
- Address current operating obligations.
Reduce financial barriers for student access
Oklahoma’s public colleges and universities continue to be among the most affordable in the region and nation. In a report from the U.S. Education Department of Education, Oklahoma ranks third in the nation in affordability for a four-year college education. But it is clear from the increased rate of student debt that more needs to be done to reduce the financial barriers so that a student can earn a degree based on the ability to achieve, not just the ability to pay.
- Support Oklahoma’s Promise.
- Equalize Oklahoma Tuition Aid Grant Program awards between public and private institutions.
- Strengthen Academic Scholars funding.
- Enhance Reach Higher scholarships and tuititon waivers.
- Support concurrent enrollment.
Honor endowed chair matches
Since the establishment of the endowed chairs matching program in 1988, private donors have matched $177.7 million in state dollars to fund 601 chairs. These endowed chair positions allow institutions to attract and retain highly talented faculty that enhance the quality of learning for Oklahoma’s students and can leverage additional research grants.
Enhance economic development
- Provide local economic development grants.
- Restore funding for competitive economic development grants for programs of excellence.
Boost the EDGE endowment
The EDGE endowment represents a tremendous opportunity for Oklahoma to gain a competitive advantage over other states by committing to a $1 billion endowment to fund research initiatives that will result in economic development and job growth. So far, $150 million has been appropriated to fund high-quality projects, many of which will take place on university campuses. The EDGE Board ofInvestors has certified $6.8 million for expenditures in FY 2008.