FOR IMMEDIATE RELEASEContact:
Arkansas Department of Higher Education
LITTLE ROCK, AR – The Arkansas Higher Education Coordinating Board adopted an amendment to the performance based funding policy that was initially adopted in 2011. The amendment includes the adoption of the performance funding model score requirements for colleges and universities and the method of distributing performance funding. The guiding principles of the performance funding models include increasing credentials without compromising academic rigor; improving student progression; workforce training; and recognizing the varying missions, role and scope of colleges and universities. Ten percent of the state funds to colleges and universities is based on achievement of performance metrics aligned to these principles.
The board approved the 2015-2016 certification of intercollegiate athletic revenues and expenditures for 2015-16. A.C.A. §6-62-805 requires each state-supported institution of higher education to annually certify by June 15 to the Arkansas Higher Education Coordinating Board that its intercollegiate athletic program will generate sufficient revenues to meet expenditures or that any athletic deficit will be met by separate institutional board-sanctioned student athletic fees.
The board approved the economic feasibility of the following bond and loan issues – a bond issue for Arkansas Northeastern College not to exceed $5.105 million for the construction and equipping of the College's Center for Allied Technologies; a loan and bond issue for Arkansas Tech University not to exceed $2.25 million for the renovation of Wilson Residence Hall; a bond issue for Arkansas Tech University not to exceed $2 million for upgrading computer hardware in the University's computer center; and a bond issue for University of Arkansas, Fayetteville not to exceed $8 million for utility infrastructure expansion and for the renovation and construction of fraternity housing.
The board approved certification for 18 institutions to offer degree programs to Arkansas residents through distance technology. These certifications require the review after a period of three (3) years. 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, 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 $150 million annually from state revenues and lottery funds. For more information, visit www.adhe.edu.