Missouri higher educations institutions will receive an additional $2.23 million worth of funding after an announcement by Gov. Jay Nixon on Wednesday at Nixa High School.
The money is part of $5 million of educational funding Nixon made available.
Nixon’s spokesman Scott Holste said the additional funding came from better-than-expected lottery proceeds. The lottery proceeds are already dedicated by the state to supporting public education.
The $2.23 million for Missouri’s public colleges and universities will help higher education institutions throughout the state continue to make investments in delivering high quality programs for students, according to a release by Nixon’s office.
“Our public schools and our colleges and universities are preparing Missourians to compete for and succeed in jobs and careers in high-demand fields, and that’s making a real difference for our economy,” Nixon said in the release.
The money will reduce the planned cuts to higher education funding from 7.8 percent to 7.5 percent for fiscal year 2013. Nixon had originally proposed cuts of 12.5 percent, before a $140 million settlement with large mortgage banks allowed Nixon to allocate $40 million of the settlement to higher education institutions, decreasing the percentage cut to 7.8 percent.
The remaining $3 million will be allocated to K-12 schools, money which the governor said will be helpful to local school districts as they cope with rising fuel prices.
“As school districts grapple with skyrocketing fuel costs, I am pleased to be able to provide these additional funds that will make a real difference,” Nixon said in the release. “Getting kids to and from school safely is vital, and these additional resources will help schools provide this critical transportation.”
Average gas prices in Missouri have gone up 31 cents in the last month from $3.22 to $3.54, according to AAA’s Daily Fuel Gauge Report.
Nixa High School, where the announcement was made, has received the state’s Distinction of Performance Designation each of the past 10 years. A school must meet 13 of 14 state academic standards to receive the award.
“I commend outstanding school districts, like Nixa, that are truly helping move our economy forward,” Nixon said in the release. “To continue supporting great schools like this throughout Missouri, my budget for next year recommends record funding for K-12 classrooms, and I look forward to working with the General Assembly to make this commitment a reality.”