Credit: CPE

The Council on Postsecondary Education approved its 2018-20 biennial budget recommendation for the state’s colleges and universities. The request includes increases in performance funding, special initiatives, and a fifth round of Bucks for Brains funding. A special initiatives request is seeking reimbursement for increases in employer-paid pension costs. The performance funding request calls for an overall 2 percent increase in operating funding, around $18.9 million, in the first year, and $36.5 million in the second year for campus operations. Key priorities of the performance funding initiative is to accelerate degree production, graduation rates, and improve the workforce.