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Budget & Financials

Each fiscal year the legislature allocates funding to higher education. A significant amount of work goes into decisions that determine where and how the money gets spent. Regents staff work with the Office of Budget and Management, the Legislature and higher education institutions to develop budgets. Regents staff coordinate commmitees, consultations and councils, analyze data, write new and review current policies, draft amendments, make presentations to the legislature and develop documentation to support their recommendations and decisions. The result of all that work can be explored and examined in the documents, presentations, spreadsheets and Web sites linked from this page.

Selected Budget Detail

• FY 2008-FY 2009 Operating Budget
• FY 2006-FY 2007 Operating Budget
• FY 2004-FY 2005 Operating Budget
• FY 2002-FY 2003 Operating Budget

State Share of Instruction (SSI)

The State Share of Instruction is the formula used to distribute the bulk of state money provided to Ohio's public colleges and universities.

• Monthly Subsidy Distribution Schedules

Campus Financial Accountability - Senate Bill 6

Senate Bill 6 of the 122nd General Assembly was enacted into law in 1997. It is designed to increase financial accountability of state colleges and universities by using a standard set of measures with which to monitor the fiscal health of campuses. Using the year-end audited financial statements submitted by each public institution, the Board of Regents annually applies these standards to monitor individual campus finances.

• Campus Financial Accountability

Higher Education Facilities Bonds

The State of Ohio provides funding for capital projects to higher education institutions by issuing Higher Education Facilities Bonds. The debt and the associated interest expense are recorded on the financial records of the State of Ohio and do not appear on the records of individual institutions.

• General Requirements for Request to Approve Pledge of Student Fees (Word document)
• Cost Allocation Plans for Interest Expense on Higher Education Facilities Bonds FY2006 (PDF)
• Cost Allocation Plans for Interest Expense on Higher Education Facilities Bonds FY2005 (PDF)

Coodinating Commissions, Councils and Consultations

Higher Education Funding Commission (HEFC) members review, revise and update the various factors that go into the SSI funding formula.

Higher Education Funding Study Council (HEFSC) members review all aspects of higher education funding contained in the budget (H.B. 66) and recommends any changes it determines are necessary.

Ohio Higher Educational Facility Commission (OHEFC) was created for the purpose of assisting independent, not-for-profit institutions of higher education finance the construction, renovation or rehabilitation of educational facilities through tax exempt bonds.