The leader of the University of Louisiana System said Monday he's asked the state's top higher education board to scrap its method for divvying up dollars among Louisiana's public colleges, saying the formula is inappropriate to use with budget cuts.
UL System President Randy Moffett said the performance-based formula devised by the Board of Regents was designed when state funding for higher education was increasing, to create incentives for campuses to improve their performance. He said it wasn't designed to strip funding from schools.
"Given the financial crisis facing higher education in Louisiana, a temporary suspension of the formula would allow limited resources to be allocated in a fairer manner," Moffett, who oversees nine college campuses across the state, said in a statement.
Higher education is taking another round of cuts in the upcoming budget year, slated for a $66 million drop in state funding when the fiscal year begins July 1.