Press Release Details
AHECB receives progress report on outcomes-based funding formula
Posted Date: 4/26/2016
FOR IMMEDIATE RELEASEContact:
Arkansas Department of Higher Education
HOT SPRINGS, AR – The institutional funding work group is made up of leaders from two-year and four-year institutions around the state, along with staff from the Arkansas Department of Higher Education. Thus far, the group has developed guiding principles and identified metrics that will be used to develop an outcomes-based funding model which is student-centered and responsive to the attainment goals outlined in Closing the Gap 2020: A Master Plan for Higher Education in Arkansas. The work group’s objective is to establish principles to creating a funding context for Arkansas’s public colleges and universities which supports student success, enables innovation, increased efficiency and enhanced affordability.
In addition to hearing the progress report on a new funding model, the Arkansas Higher Education Coordinating Board also adopted the revisions to the existing funding formulas for the 2017-19 biennium to be used by the institutions and Arkansas Department of Higher Education (ADHE) in preparing appropriation requests. The funding formula was developed by ADHE and the state’s college and university presidents and chancellors.
A report of credentials awarded by Arkansas institutions showed a steady growth over the last five academic years. There were just under 42,000 credentials awarded by four-year universities, two-year colleges, and private/independent institutions in the 2014-2015 academic year. Though increases were seen in all sectors, private/independent institutions had the greatest five-year percentage increase at 17.4%.
In other actions, the board approved eight new academic programs:
Associate of Science in Criminal Justice, Phillips Community College of the University of Arkansas
Associate of Science in Physical Therapy Assistant, Cossatot Community College of the University of Arkansas
Associate of Fine Arts in Arts, Northwest Arkansas Community College
Bachelor of Fine Arts in Graphic Design, University of Arkansas, Fayetteville
Bachelor of Science in Computer Science Education, Arkansas Tech University
Bachelor of Science in Electrical Engineering Technology, University of Arkansas-Fort Smith
Master of Science in Media Management, Arkansas State University
Doctor of Occupational Therapy, University of Central Arkansas
The board approved 61 new degree programs submitted through the Institutional Certification Advisory Committee, which evaluates and monitors degree programs offered to Arkansans by out-of-state institutions, along with a number of other certificate and degree program modifications submitted by in-state institutions. A complete list is available at www.adhe.edu.
The Arkansas Department of Higher Education is responsible for carrying out the policy directives of the AHECB, approving and reviewing college and university academic programs and developing funding recommendations for the state’s 11 public universities and 22 public two-year colleges as well as several other post-secondary entities.
In addition, the agency is responsible for distributing approximately $120 million annually from state revenues and lottery funds intended to ease the financial burden of students seeking an education beyond high school. For more information, visit www.adhe.edu.