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National Economic Climate

National Economic Climate. 37 states reduced FY 2003 budgets by $14.5 billion — the largest spending cut since 1979 30 states missed revenue targets in FY 2003 28 states had Medicaid budget shortfalls in FY 2003 19 states have proposed negative growth budgets for FY 2004

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National Economic Climate

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  1. National Economic Climate • 37 states reduced FY 2003 budgets by $14.5 billion—the largest spending cut since 1979 • 30 states missed revenue targets in FY 2003 • 28 states had Medicaid budget shortfalls in FY 2003 • 19 states have proposed negative growth budgets for FY 2004 Source: The Fiscal Survey of States, National Governors Association, June 2003

  2. Higher Education Cuts in Other States • California: 9% - 13% • Colorado: 26% • Massachusetts: 16.4% • Virginia: 22% over the last two years • Wisconsin: 38% over the last two years Sources: Chronicle of Higher Education 2003-04 Almanac Issue; AASCU State Budget and Tuition Update from September 26, 2003

  3. Higher Education in West Virginia’s Budget • FY 2004 total spending: $3 billion • FY 2004 spending on higher education: $343 million (general revenue) or 11.3% Source: West Virginia State Budget Office

  4. Sources of institutional revenue • State appropriations: 42% • Tuition and fees: 19% • Grants and contracts: 21% • Auxiliary revenues: 10% • Miscellaneous: 8% Source: West Virginia Higher Education Policy Commission

  5. The Wise Administration Record on Higher Education • Exempted higher education from mid- year reduction of 3% in 2001 • PROMISE Scholarships • Increased funding for Grant Program and HEAPS • Permitted tuition increases

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