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OK Universities Face Reductions Under FY16 Budget
On Monday, Oklahoma Gov. Mary Fallin signed a $7.1 billion fiscal year 2016 budget (HB 2242) that includes a 3.5 percent reduction in base higher education funding. A portion of this reduction was offset by an agreement to pick up the cost of higher education bond debt service, which brings the net percentage reduction closer to 2.44 percent, according to the The Oklahoman. K-12 education funding will remain at current levels.
The budget includes $16 million in appropriated funds for the Oklahoma Center for the Advancement of Science and Technology OCAST). Another $4.8 million in dedicated and other funds will be provided through the state's Research Support Revolving Fund to finance OCAST duties.
Earlier this year, as part of her budget proposal, Gov. Fallin launched the Oklahoma Works initiative, funded by the U.S. Department of Labor and operated by the Oklahoma Department of Commerce. The new effort was launched to create partnerships between educational institutions and the private sector to create a pipeline for high-quality jobs.
Oklahomastate budget