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April 15, 2008 :: State Regents to Address Reduction of Allocations to State Colleges and Universities

Media Contact

What: Press conference addressing the shortfall in revenue appropriated for the FY08 Oklahoma Capital Improvement Authority bond debt. This will result in a reduction of institutional budgets for the second consecutive year.

When: 10 a.m., Wednesday, April 16

Where: Oklahoma State Capitol Blue Room, 2nd floor

Who: Chancellor Glen D. Johnson, Oklahoma State System of Higher Education, and presidents from Oklahoma’s colleges and universities.

Why: The revenue proceeds dedicated to the Oklahoma Capital Improvement Authority debt service related to the higher education bond issues have been below the allocated level for the current fiscal year. The State Regents have requested a supplemental appropriation from the Legislature to address this shortfall; however, to date, there has not been any legislative action that would provide additional funds to cover the necessary debt service payments.