87th General Assembly
State of Arkansas
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Day 11 of the 2010 Thursday
Fiscal Session February 18, 2010
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This is Senator _____ reporting from the state Capitol with news of Thursday's activities in the Arkansas state Senate.
The operating budget for the University of Arkansas at Fayetteville was approved by the Senate Thursday.
Reading the bill is a window into the inner workings of a major university. The Fayetteville campus will receive more than $114 million in general revenue funding, which makes it the largest institution of higher education in Arkansas.
However, that amount is only a fraction of the total costs of operating the university. It is the amount of state aid the university will receive next year. The campus also will collect hundreds of millions of dollars in tuition, fees, endowments and gifts. It will charge for books, admission to events and consulting.
In total the university will be authorized to spend more than a billion dollars next fiscal year, which makes it one of the single largest public entities in Arkansas.
Only a few state agencies have budgets of similar size - the Human Services Department, the Highway and Transportation Department and the Health Department.
By contrast, the University of Arkansas at Monticello will get $15.5 million in general revenue. Like other institutions of higher education, UAM will also bring in money from tuition, fees and gifts. On top of the $15.5 million in state aid, UAM is authorized to spend an additional $55 million in cash funds.
In total, higher education will receive $700 million in state aid next year. However, that is only a fraction their total spending because they also get so much revenue from tuition, fees and other sources.
The fiscal session has finished its first two weeks and the legislature is on pace to conclude its business next week.
From the state Capitol, this is Senator _____ wishing you a good day.
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