September 26, 2011
PERFORMANCE FUNDING MOMENTUM
IBHE to be briefed on progress for new higher education financing scheme
SPRINGFIELD – The rubber is about to hit the road.
The Illinois Board of Higher Education (IBHE) will discuss statewide goals that will drive implementation of a new funding approach for higher education that will reward colleges and universities based on progress in raising educational attainment levels for Illinois citizens. The Board meets at 1 p.m. October 4th at Harper College in Palatine.
IBHE Executive Director George W. Reid will update Board members on the work of the Performance Funding Steering Committee, established under Public Act 97-320, which set out broad parameters for performance-based funding. The committee is scheduled to hold its third meeting Wednesday, September 28th, at which it will discuss state goals for increasing degree completion and attainment of marketable college credentials. Reid’s update also will introduce potential metrics for measuring the progress of colleges and universities in improving college completions. The state has established a “60 X 25” goal – 60 percent of the adult population with a college degree or credential by 2025.
“We look forward to learning about the efforts of the Performance Funding Steering Committee to craft a funding system that will link state dollars to state goals, as articulated by the Illinois Public Agenda for College and Career Success,” Carrie J. Hightman, IBHE Chairwoman, said. “The Board has been ahead of the curve on performance funding with its investment level approach to the higher education budget. Implementing performance-based funding will be a natural outgrowth of the approach we have followed for the past four years.”
Dr. Reid and the IBHE staff will present budget scenarios that respond to the performance-based funding mandate of the new state law. “The goal of this Public Agenda update will be to prepare the Board for the final recommendations on performance funding goals and metrics which may be presented during the December meeting, depending on the progress made by the Performance Funding Steering Committee,” Reid said.