Fiscal Year 2015–2016 Budget Overview
Fiscal Year 2014–15 was the first year of full implementation of the state’s outcomes-based funding formula as called for in the Complete College Tennessee Act. Under the act, productivity, rather than enrollment, drives state funding distribution.
MTSU’s 2015–2016 outcomes formula adjustment will result in a state funding decrease of $1,285,900. MTSU had received an increase for the current fiscal year of $1,252,000. The Tennessee Higher Education Commission (THEC) voted at its November meeting to propose new state funding totaling $25.7 million for the formula institutions. MTSU’s share of the THEC-proposed new funding would be $2,533,200. Thus, MTSU’s state funding could actually increase by $1,247,300.
THEC also voted to recommend $9,840,000 in Capital Maintenance funds for MTSU projects for Fiscal Year 2015– 2016. The projects include central plant controls updates, generator replacement, automation system control panel replacements for several buildings, domestic water-sewer systems updates, exterior repairs for several buildings, Jones Hall plumbing updates, and campus-wide sidewalk repairs. No MTSU Capital Project (building construction) was proposed for new funding.
THEC’s recommendations have been submitted to the Department of Finance and Administration for consideration in the proposed state budget that Gov. Bill Haslam will be submitting to the legislature in the coming weeks. At that point, we will have more information regarding our likely 2015–16 state appropriations.