Spring Break
Budget Bust Part 8
URI explores funding alternatives
Tyler Will
Issue date: 11/21/08 Section: News
11/21/08 - If anyone questions the economic trials facing Rhode Island, they can look to the fact that the some of the state's higher education administration positions have been eliminated to save money, according to University of Rhode Island President Robert L. Carothers.
And the university will be the last to complain of the position eliminations; it is a rare instance in which URI will benefit from a state burden.
In addition, for the first time in its history, financial aid will exceed state funding in the Fiscal Year 2009, Carothers said at yesterday's Faculty Senate meeting.
A serious state disinvestment in higher education has prompted the university to explore alternative funding methods, which range from eliminating financial aid to requesting the state give funds to students directly, instead of the university.
"I understand that's a shift away from our historical land grant mission," Carothers said. "But the state has already made that decision. They no longer fund the land-grant mission." Land grant universities, historically, were to provide an affordable higher education. More conservative financial options involved "rainy day funds."
Carothers said the land-grant mission was based on a "three-part stool," which includes federal, state and county money.
"We never had the third leg, now we don't have the second," he said. "So what we have to be able to do is design our own university, a new model."
The unprecedented measures come in the wake of a time when funding has been at a level which is almost an all-time low.
A revenue shortfall in Rhode Island has trickled down through all state institutions, and budget predictions last night said URI might only get $54 million in state funding for the Fiscal Year 2009. The figure takes future state revenue shortfalls into account.
If the predictions are correct, it means the university will receive $11 million less from the state, said Vice President of Administration Robert Weygand, and URI would only receive 11 percent of its budget from the state.
And the university will be the last to complain of the position eliminations; it is a rare instance in which URI will benefit from a state burden.
In addition, for the first time in its history, financial aid will exceed state funding in the Fiscal Year 2009, Carothers said at yesterday's Faculty Senate meeting.
A serious state disinvestment in higher education has prompted the university to explore alternative funding methods, which range from eliminating financial aid to requesting the state give funds to students directly, instead of the university.
"I understand that's a shift away from our historical land grant mission," Carothers said. "But the state has already made that decision. They no longer fund the land-grant mission." Land grant universities, historically, were to provide an affordable higher education. More conservative financial options involved "rainy day funds."
Carothers said the land-grant mission was based on a "three-part stool," which includes federal, state and county money.
"We never had the third leg, now we don't have the second," he said. "So what we have to be able to do is design our own university, a new model."
The unprecedented measures come in the wake of a time when funding has been at a level which is almost an all-time low.
A revenue shortfall in Rhode Island has trickled down through all state institutions, and budget predictions last night said URI might only get $54 million in state funding for the Fiscal Year 2009. The figure takes future state revenue shortfalls into account.
If the predictions are correct, it means the university will receive $11 million less from the state, said Vice President of Administration Robert Weygand, and URI would only receive 11 percent of its budget from the state.
