On a roll ... Florida State University to receive $98.7 million in performance funding! https://t.co/6LgJK2I4mJ pic.twitter.com/WUU3USGday— Florida State University (@floridastate) June 27, 2018
http://news.fsu.edu/news/university-news/2018/06/27/fsu-to-receive-98-7-million-in-performance-funding/
Florida State University has improved in every performance metric outlined by the Florida Board of Governors and will receive $98.7 million in performance funding this year in recognition of its continuing excellence.
The funds will allow Florida State to continue making investments in targeted areas as it strives toward its goal of becoming a U.S. News & World Report Top 25 public university.
“Florida State has had a lot of success this year thanks to the outstanding work of our students, faculty and staff, and I’m pleased that our achievements are reflected in the performance metrics,” said FSU President John Thrasher. “This performance funding will help support the university’s preeminence in ways that will benefit our students and the state as we prepare career-ready graduates.”
Performance funding is based on university progress on a variety of metrics, from four-year graduation rates to student success after graduation.
FSU’s year-over-year progress was highlighted by a four-year graduation rate of 68.4 percent. That’s nearly three percentage points higher than the previous year’s cohort, placing FSU first among all State University System of Florida institutions. More significantly, it’s the highest four-year graduation rate in the State University System’s history.
Florida State saw its largest improvement in the BOG’s newest metric, cost of attendance.
FSU will use the performance funds to invest in its faculty and student success initiatives as part of its goal to become one of the Top 25 public universities in the nation.
Florida State achieved its highest ranking ever this year under the performance funding metrics established by the board. The funding is subject to confirmation Thursday by the full Board of Governors.
In addition, FSU was awarded $6.1 million from the Florida Legislature in recognition of the university’s preeminence status.
Florida State University’s strong showing in meeting the Board of Governors performance metrics moved it up to No. 3 this year among state universities. That earns FSU $98.7 million from the state in performance funding.
Florida A&M University, which increased its score to 72 – the highest it has achieved – from 65 last year, remains in the bottom three of university rankings. FAMU gets no additional performance funding, but will retain $14.7 million from its own investment in the total pot.
The University of Florida had the top score of 93 – which results in $57.6 million in performance funding, or a total of $110.6 million.
“This performance funding will help support the university’s preeminence in ways that will benefit our students and the state as we prepare career-ready graduates,” FSU President John Thrasher said.
Florida State also saw its largest improvement in the BOG’s newest metric, cost of attendance.
Florida State University, the University of South Florida and the University of West Florida all earned 86 points, according to the Board of Governors.
The board resorted to its “tiebreaker” procedure, approved in 2015, to determine that FSU would achieve the “top three” status and receive the associated funding.
FSU scored the highest four-year graduation rate in the system’s history, a 68.4 percent.
Performance funding has resulted in the SUS exceeding its goal for bachelor’s degrees in areas of strategic emphasis, with eight institutions scoring 10 points on this metric.
The University of Florida earned the maximum 10 points in seven metrics, and New College of Florida earned 10 points in five metrics.
FAMU scored 10s in three categories, while FSU scored 10s in five areas.
Here's how universities fared in points, new performance funding, their allocation of institutional investment and total performance funding:
University of Florida: 93 points; $57.6 million; $53 million; total: $110.6 million
University of Florida: 93 points; $57.6 million; $53 million; total: $110.6 million
Florida International University: 90 points, $40 million; $33.7 million; total: $73.7 million
Florida State University: 86 points, $51.6 million; $47.1 million; total: $98.7 million
University of South Florida: 86 points; $37.6 million; $41.9 million; total: $79.6 million
University of West Florida: 86 points; $10.8 million; $12 million; total: $22.7 million
Florida Atlantic University: 84 points; $20.l5 million; $22.8 million; total: $43.4 million
University of Central Florida, 77 points; $37.5 million; $41.7 million; total: $79.2 million
Florida Gulf Coast University; 75 points; $9.2 million; $10.3 million; total: $19.5 million
New College of Florida; 75 points; $0; $3.9 million; total: $3.9 million
Florida A&M University; 72 points; $0; $14.7 million; total: $14.7 million
University of North Florida; 68 points; $0; $13.5 million; total: $13.5 million.
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