Budget Amendment ID: FY2021-S4-117

EDU 117

State University Funding Formula

Ms. Gobi, Ms. DiZoglio, Messrs. Moore and Lesser moved that the proposed new text be amended in section 2, in item 7066-0025, by inserting at the end thereof, the following new item:

" 7066-1400 For additional operational funding for state universities; provided, that funds from this account shall be distributed in accordance with the funding formula in line item 7066-1400 of section 2 of chapter 165 of the acts of 2014; provided further, that funding from this item shall be contingent upon approval of the funding formula by the board of higher education; provided further, that not later than March 2, 2021 the state universities shall report on the total balance in all budgeted and off-budget funds; and provided further, that the allocation of funds shall be approved by the board of higher education............................. $5,469,870".