We have to give state Regents for Higher Education an "A" for effort and an "O" for optimism this week. The nine-member board is asking the legislature for a $27.5 million increase over last year's budget for fiscal year 2011.
That increase is a fraction of the agency's $1.1 billion budget for the fiscal year that begins July 1. Regents also want another $35.8 million to make up for this year's cuts and $68.7 million in federal stimulus money, the same amount of stimulus money received this year.
Unless state revenues turn around dramatically before the sessions opens in February, we look for a lean year for all agencies. Asking for an increase in a time when all state agencies are being asked to operate on 5 percent less each month for the rest of this fiscal year is, well, rather optimistic.
Regents chairman William Stuart Price said "We need more students and more college degrees for a stronger, more competitive Oklahoma. Now is not the moment to slow down. Now is the time to accelerate and push forward."
Higher education, in Norman and in communities throughout the state, is an economic engine that drives much commerce. Cutting back on appropriations forces the university to tighten its belt, hold back on some programs and reduce or freeze hiring.
We agree that increasing the number of college graduates will make Oklahoma competitive. The University of Oklahoma has raised its graduate rate significantly in the past decade. But our state's colleges and universities as a whole have relatively low graduation rates and just adding money to budgets won't fix that.
Opinion
Regents are optimistic in a tight budget year
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