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Budget Overview

Fiscal year 2014–15 will be the first year of full implementation of the state’s outcomes-based funding formula as called for in the Complete College Tennessee Act. Under the act, productivity rather than enrollment drives state funding distribution.

MTSU’s 2014–2015 outcomes formula adjustment will be a state funding increase of $1.252 million. Additionally, THEC voted at its November meeting to propose new state funding totaling $29.6 million for the higher education formula institutions. MTSU’s share of the proposed new funding will be $2.961 million. Thus, MTSU’s state funding could actually increase by $4.213 million.

The commission also voted to recommend $8.69 million in capital maintenance funds for MTSU projects, which include absorption chiller/tower replacement, electrical updates and exterior repairs to several buildings, Bell Street building and central plant HVAC and control updates, campus-wide domestic water-sewer systems updates, Peck Hall HVAC updates, Jones Hall plumbing updates, and campus stormwater plans. No MTSU capital project was proposed for new capital outlay funding for 2014–15.

THEC’s recommendations have been submitted to the Department of Finance and Administration for consideration in the proposed state budget that Governor Bill Haslam will be submitting to the state legislature in the coming weeks. At that point, we will have more information regarding our likely 2014–15 state appropriations.