Florida A&M University (FAMU) will receive $15.9 million in additional funding under the Performance Based Funding Model, the Florida Board of Governors. (FLBOG) announced Thursday. The University will also receive an additional $7.5 million to recruit and retain faculty.
FAMU scored 78 out of a possible 100 points and saw improvements in seven metrics.
President Larry Robinson, Ph.D., who attended the FLBOG meeting in Tampa, welcomed the news.
“We strive to reach higher levels in the Florida Board of Governors Performance Based Funding Model. This year’s outcome reflects a commitment to doing so by our Board of Trustees, students, faculty, and staff as we march to secure a place among the top 100 national public universities and attain Carnegie Research 1 status,” said Robinson, who is scheduled to discuss the funding and recent leadership changes at press conference 1 p.m. “We are thankful to the Governor, Legislature, and BOG, and will use the funds allocated to make a difference in our student success initiatives and our efforts to recruit and retain world-class faculty.”
FAMU PBF highlights:
- FAMU continues to make strides in demonstrating that a college degree improves one’s employment prospects and earnings. The percent of bachelor graduates employed or enrolled one year after graduation and bachelor graduate earnings increased when compared to last year. (Metrics 1 & 2)
- FAMU continues to offer a great value for the money. The average cost to the student decreased for the third year. (Metric 3)
- FAMU continues to produce graduates that impact the economic and workforce needs of Florida. The four-year graduation rate and the number of graduate degrees in programs of strategic emphasis increased when compared to last year. (Metrics 4 & 8)
- We continue to alter the economic trajectory of our students for generations to come as demonstrated by our commitment of access for low-income students. More than one-half of our students, 57.4 percent, graduated within six years. (Metric 9B)
- The number of degrees awarded to Florida College System Associate of Arts transfer students continues to rise. (Metric 10)
FAMU Board of Trustees Chairman Kelvin Lawson was pleased with FAMU’s performance.
“FAMU once again has shown our ability to get the kinds of results and be competitive among State University System universities. I am pleased with the direction in which we are heading. The future looks bright,” said Lawson, whose term as BOT chair ends in September.
