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Budget and Fiscal Affairs:
In fiscal year 2013, higher education institutions, agencies, and grant programs received $3.4 billion in state general funds, an increase of $289.5 million, or 9.4 percent over fiscal year 2012 appropriations. When funding for the State Universities Retirement System is excluded, funding for higher education institutional operations and grants totals $2.0 billion, a decrease of $128.4 million, or 6.1 percent below fiscal year 2012 appropriations.
The fiscal year 2013 budget includes a total of $1.2 billion in general funds support for public universities, a decrease of $79.6 million, or 6.1 percent under fiscal year 2012. The fiscal year 2013 budget includes a small component of funding based upon the IBHE adopted performance funding formula for public universities and community colleges.
The fiscal year 2013 budget includes a total of $371.3 million (a decrease of $52.9 million, or 12.5 percent) for the Monetary Award Program (MAP), the state's needs-based student financial aid program.
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