The Board of Regents today officially adopted the formula used for allocating the expected $219 million cut to higher education state funding next year. Under Gov. Bobby Jindal’s proposed state spending budget, the LSU System would face $102,087,705 million in cuts for the fiscal year that begins July 1, according to the Board of Regents. The formula used by the Regents is a combination of the unfinished performance-based funding formula – originally designed for increases in state funding – and each institution’s funding base as required by the executive budget. ——Contact Kyle Bove at [email protected]