Budget and Fiscal Affairs:
In fiscal year 2014, higher education institutions, agencies, and grant programs received $3.5 billion in state general funds, an increase of $114.3 million, or 3.4 percent over fiscal year 2013 appropriations. When funding for the State Universities Retirement System is excluded, funding for higher education institutional operations and grants totals $2.0 billion, an increase of $11.5 million, or 0.6 percent above fiscal year 2013 appropriations.
The fiscal year 2014 budget includes a total of $1.2 billion in general funds support for public universities, a slight increase of $2.1 million over fiscal year 2013. Additionally, the budget includes $292.8 million for community colleges, also a slight increase of $3.4 million over fiscal year 2013. The fiscal year 2014 budget includes a small component of funding based upon the IBHE adopted performance funding formula for public universities and community colleges.
The fiscal year 2014 budget includes a total of $373.2 million (an increase of $1.9 million, or 0.5 percent) for the Monetary Award Program (MAP), the state's needs-based student financial aid program.