SD universities to be funded based on number of graduatesRegents adopt new model this week; pilot program begins July 1.
ABERDEEN (AP) — The South Dakota Board of Regents has adopted a framework for a performance funding model that will reward the state's public universities for success in producing graduates.
Meeting in Aberdeen on Thursday, the regents adopted a model that will be used as a pilot program in the budget year beginning July 1.
The program will use $3 million in one-time state funding approved by the South Dakota Legislature, to be matched with another $3 million from the base budgets of the six public universities.
The funds will be distributed to universities based on three years of data on the schools' production of graduates. A weighted point system gives universities more credit for students who complete higher degrees and those who get degrees in high priority fields.