Nevada Board of Regents sends $1.5B budget to Legislature
August 24, 2018
Nevada's universities and colleges are seeking $1.5 billion to operate over the next two fiscal years, an increase from the present $1.2 billion in state general funds.
The Nevada Board of Regents on Friday approved the proposed spending program which includes faculty pay raises and increases the summer school programs.
Thom Reilly, chancellor of the Nevada System of Higher Education, said in a press release, "We are finally getting back to pre-Great Recession funding levels when adjusted for inflation, which we can use to improve student success and competition rates throughout Nevada."
The system said the present state funding level allows only for summer school for nursing classes.
Regent Chairman Kevin Page said the state summer wide plan is the result of the ties between the system and business and industry. "The initiative reflects the changing times and economy of the state and addresses Nevada's need for STEM-trained and highly skilled workers."
Students, according to the system are going to school year around and this expansion will help them complete their education.
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The budget, approved at a meeting in Las Vegas, calls for a pilot program to enhance faculty salaries based on performance. And the budget will address the problem veteran professors are sometimes paid less than newcomers.
The legislative Fiscal Analyst Division reported the state allocated $1.2 billion for this fiscal two-year period, the system got an estimated $661.9 million in student fees and received $11.2 million in federal and other funds.
More than 100,000 students attend the various universities and colleges.
The request will be submitted to the governor and then to the 2019 Legislature.