http://www.djournal.com/pages/story.asp?ID=217335&pub=1&div=News

College Board studies new funding approach for universities

JACKSON - During the past year, the state College Board has been working to implement a new funding formula that will be used to divvy up state money among the eight public universities.

Perhaps just an importantly, the formula would be used in making budget requests to the Legislature. It would be similar to the way kindergarten through 12th-grade officials ask for enough money to fully fund the Adequate Education Program formula....

...The new funding formula will be based on several components, such as the number of student credit hours taught. Schools would receive additional money per student for offering certain subjects that might require more teaching materials. For instance, it is more expensive to teach accounting than history....

...Meredith said legislators should welcome the formula because "it is a truly scientific process" for the request of funds....

...Comparison of new funding model vs. actual funding for upcoming budget year:

Model predicts: $412.9 million

Actual funding: $349.8 million

Difference: $63.1 million

Source: Board of Trustees state Institutions of Higher Learning