Allows postsecondary institutions to carry forward certain funds at the end of a fiscal year under certain conditions. (gov sig) (OR SEE FISC NOTE GF RV)
Impact
If enacted, SB301 would amend existing laws regarding the fiscal responsibilities of college and university boards in Louisiana. This change would empower these institutions to better utilize their financial resources, as they would not be required to remit surplus funds to the state treasurer at the end of the fiscal year. Instead, schools would have the discretion to manage and allocate these funds based on their individual needs, thereby fostering a more efficient use of resources in higher education.
Summary
Senate Bill 301 introduces provisions that allow postsecondary institutions, such as colleges and universities, to retain unexpended and unobligated funds at the close of a fiscal year. This flexibility is contingent upon the establishment of a fiscal stabilization plan that aligns with a Higher Education Efficiency Policy to be developed by the Board of Regents. The bill aims to provide institutions with more autonomy over their financial management, enabling them to invest unused funds into initiatives that align with their educational and operational goals.
Sentiment
The sentiment surrounding SB301 appears generally favorable among educational institutions that anticipate benefits from enhanced financial autonomy. Proponents argue that this increased flexibility will allow colleges and universities to act swiftly in addressing their unique challenges and priorities. However, it may also elicit concern from state fiscal authorities wary of the implications for state budget management and oversight.
Contention
Notable points of contention may arise from the balance of state oversight versus institutional autonomy. Critics might argue that allowing colleges and universities to retain funds could lead to less accountability and transparency in the use of state resources. Furthermore, there could be concerns about potential inequities between institutions with different financial management capabilities, potentially leading to disparities in educational quality and resource allocation across the state's higher education landscape.
Provides for a Board of Regents program under which postsecondary institutions agree to achieve certain standards in exchange for authority to increase tuition and for exemption from certain limitations (EN INCREASE SG RV See Note)
Provides relative to the La. Granting Resources and Autonomy for Diplomas Act, including additional operational autonomies to be granted to public postsecondary education institutions and reporting requirements for such institutions and the Board of Regents (EN SEE FISC NOTE GF EX See Note)
Provides relative to the La. Granting Resources and Autonomy for Diplomas Act including additional operational autonomies to be granted to public postsecondary education institutions and reporting requirements for such institutions and the Board of Regents. (gov sig) (OR NO IMPACT GF EX See Note)
Provides for powers and duties of the Board of Regents with respect to the distribution of funds to postsecondary education institutions. (8/1/12) (OR SEE FISC NOTE GF EX)
Relating to accountability of institutions of higher education, including educator preparation programs, and online institution resumes for public institutions of higher education.
Revises calculation of student financial need and provides circumstances for reduction of financial aid at institutions of higher education and proprietary institutions.
Revises calculation of student financial need and provides circumstances for reduction of financial aid at institutions of higher education and proprietary institutions.
Revises calculation of student financial need and provides circumstances for reduction of financial aid at institutions of higher education and proprietary institutions.