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FY2007 Budget Request

FY2007 New Funds Request = $123.1 million
Total FY2007 Funding Request = $1.01 billion
Percent Increase From FY2006 = 13.8 percent

Details of New Funds Request

I. Elimination of Per Student Funding Deficit (first of two requests) = $80.0 million
$160 million in increased state appropriations would bring Oklahoma close to national parity funding support for Oklahoma students.

  1. College and University Mandatory Costs = $36.4 million
    Costs over which colleges and universities have little or no control, such as utilities, employee health insurance, risk management premiums, annualization of partial-year salaries, etc.
  2. Institutional Priorities = $29.0 million
    Improvements necessary for colleges and universities to increase quality of education for students and the higher education system, such as additional full-time faculty, additional researchers, adjunct faculty, professional staff in academic support/student services, library services, graduate assistants and student employees. Includes funding for faculty and staff salary increases, increases in instructional materials and instructional technology.
  3. Targeted Needs = $14.6 million
    Base adjustments for institutions with unfunded enrollment growth
    Nursing/allied health program expansions to address workforce needs
    Teacher Residency Program increase to fund additional workload
    Operating costs for new campus facilities

II. Graduate Oklahoma! Programs = $2.8 million

  1. Brain Gain/Programs of Excellence Expansion = $2.0 million
    Second round of five-year funding for priority academic programs at colleges and universities.
  2. Adult Degree Completion Initiative Start Up = $.5 million
    To enable Oklahomans who have at least two years of college credit to return to complete a bachelor’s degree. This funding will assist the lead institution in coordinating the program.
  3. Summer Academies Partial Restoration of FY04 Budget Reductions = $.3 million
    Summer academies supplement middle and high school curriculum with relevant experiences in math and science for students in grades eight through 12.

III. Student Financial Aid = $18.6 million

  1. Oklahoma’s Promise (OHLAP) = $10.0 million
    Estimated 2,900 more students. $3 million less if no tuition increase.
  2. Concurrent Enrollment Tuition Waiver = $2.5 million
    Pilot program underway for the fall 2005 and spring 2006 semesters. The actual costs will be determined after analysis of the pilot program. The requested amount will be used to reimburse institutions for their costs.
  3. Oklahoma Tuition Aid Grant (OTAG) = $4.8 million
    Provides equity in the award amount between public students ($1,000) and private students ($1,300).
  4. Oklahoma Tuition Equalization Grant (OTEG) = $.6 million
    Funding sufficient to make awards to 50 percent of eligible students; similar to OTAG.
  5. Academic Scholars = $.7 million
    Second installment of funding needed to align revenues and expenditures.

IV. Other System Needs = $21.7 million

  1. Annualization of $475 Million Capital Bond Debt Service = $15.1 million
    Legislature appropriated funds for the initial interest-only debt service payment of the 2005 higher education capital bonds. Full debt service payments, estimated to be between $30 and $32 million annually, will be necessary beginning in FY07.
  2. Section 13 Offset = $1.0 million
    Restoring reductions made in FY04 to provide parity between those institutions that do and do not receive Section 13 Offset Funds and New College Funds for support of capital needs.
  3. OneNet Equipment = $1.5 million
    Equipment and software to enhance existing infrastructure and to provide increased monitoring, fault tolerance and network availability.
  4. Endowed Chairs = $3.5 million
    Match a portion of the endowed chairs that have now been established with private gifts.
  5. Office of State Finance Charges = $0.6 million
    Cover the increased cost charged by the Office of State Finance for higher education’s transaction fees for the CORE system.