A motion in support of the income-based funding formula introduced by the West Virginia Legislature was passed by Marshall’s Board of Governors.
“It allows us to set our sights on the things and prioritize the outcomes that will benefit the institution as a whole,” Jason Baldwin, interim chief financial officer said.
The board of governors has communicated with higher education programs around the state to create the most appropriate formula for Marshall University.
“The appropriate mission weight for Marshall University that will match our strengths over the next five years to achieve both the best outcomes for our students in our state, but also for the university as well,” Marshall University president Brad Smith said. “We feel very good with the outcomes.”
Smith said that the formula counts in-state and out of state students equally, which he views as a positive considering the university’s role in the greater metro area.
“That is particularly important for MU as we have expanded into the metro region as you know, with 59 counties, Kentucky and Ohio which we will draw students in from,” Smith said.
In Mar. 2022 the West Virginia Legislature introduced House Bill 4008, which essentially means the legislature needs to account for a university’s graduation and retention rates, enrollment numbers and other benchmarks to calculate how much money the school is to earn in state funding.