BATON ROUGE – The Board of Regents approved the FY 2016-2017 operating budget distribution for public higher education on Wednesday, June 29, 2016.
Regents implemented an outcomes based funding formula as required by Act 462 of the 2014 Regular Session. A summary of the budget is as follows:
• The total state general fund appropriation decreased from $1 billion to $919M for FY 2016-17.
• $770M is available for higher education entities after funding TOPS at 70%.
• $483M in state general funds will be distributed to the two and four-year institutions which is $8.1M less when compared to FY 2015-16.
• $149M is allocated to fund TOPS, and GO Grants will be funded at the current year level of $26M.
• $4M in operational funding was provided to LSU HSC – Shreveport and $1M in legacy costs funding was provided to LSU HSC – New Orleans.
