As universities from coast to coast experience budget cuts, the Louisiana Board of Regents is working in conjunction with colleges and universities across the state to develop new criteria for determining the appropriate amount of funding.The new formula for funding is expected to account for enrollment, graduation rates, research grants and the cost of operation and maintenance of facilities, according to an October presentation given by James Firnberg, special consultant to the Louisiana Board of Regents. Robert Kuhn, associate vice chancellor with the Office of Budget and Planning, said the change is “much superior” to the previous funding formula.Kuhn said funding requested by colleges and universities throughout the state is currently calculated by taking the average amount requested per student by comparable universities throughout the Southern Regional Education Board and multiplying that amount by the number of students enrolled in the particular institution. The data for the amount of funding provided for each student was established in 2006, he said.”Higher education has been funded at 100 percent of the formula for the last two years, but we had been underfunded for about 26 years,” Kuhn said. “Just giving us 100 percent of the formula now does not make up for all those years of under funding.”Institutions comparable to LSU include universities awarding at least 100 doctoral degrees in several different disciplines, according to the SREB. The schools, referred to by the SREB as Category Four-Year 1, include Auburn University and the universities of Alabama, Arkansas, Florida and Georgia as well as 23 others.Meg Casper, Louisiana Board of Regents associate commissioner for public affairs, said the new formula, a portion of the Board’s new “Master Plan,” would include accountability, performance and research. A major portion of the plan would ideally take into account the number of graduates each institution produces.”In the past, the formula rewarded enrollment,” Casper said. “This one takes into account enrollment, but it also takes into account how many students graduate. It focuses on output rather than input.”Casper said the Board of Regents will challenge public colleges and universities throughout the state to produce 10,000 additional graduates by 2015 — the state currently produces about 30,000 graduates. “Statewide, there are jobs that are available that are open right now because employers need people with training,” Casper said. “Nationally, that same phenomena is going on. Within the next three years, there will be $3 million in jobs that require a degree that will go unfilled.” Kuhn said the Board of Regents and the Louisiana State Legislature will vote on the formula once it is complete. Budget requests determined by the formula will be presented to the Legislature.Though Firnberg described the new formula as “certainly beneficial” to LSU, he said other factors will contribute to the amount of funding colleges and universities actually receive.”The price of oil is down again,” Firnberg said. “The whole economic downturn is affecting everyone. That has an impact on state revenue and has an impact on what the state can appropriate for all its needs.”Despite the economic downturn, Kuhn said LSU administrators remain hopeful.”The chancellor and provost are saying it’s critical that the governor and the legislature continue to invest in LSU because it is that factor that can create economic development for the long-term future of Louisiana,” Kuhn said.—-Contact Lindsey Meaux at [email protected]