Fiscal Affairs & Budgeting:
In fiscal year 2015, higher education institutions, agencies, and grant programs received $3.5 billion in state general funds, an increase of $34.5 million over the fiscal year 2014 appropriations. When funding for the State Universities Retirement System is excluded, funding for higher education institutional operations and grants totals $2.0 billion, which is flat compared to the fiscal year 2014 appropriation.
The fiscal year 2015 budget includes a total of $1.2 billion in general funds support for public universities, a slight decrease of $2.8 million from fiscal year 2014. Additionally, the budget includes $294.5 million for community colleges, also a slight increase of $1.7 million over fiscal year 2014.
The fiscal year 2015 budget includes a total of $373.3 million (an increase of $56,400) for the Monetary Award Program (MAP), the state's needs-based student financial aid program.