Senate budget would have FAU, other universities, dig into reserves

TALLAHASSEE — A $400 million cut in university spending included in a $70.8 billion state budget proposal was approved Wednesday by the Senate budget panel, whose chief said schools can plug the gap with reserve funds he accused them of hoarding.

The proposed university cuts roiled the day-long hearing of the Budget Committee. While Florida Atlantic University was hit hard, much of Wednesday's drama pivoted on the University of South Florida, embroiled in a battle with Budget Chairman J.D. Alexander over spinning off the school's polytechnic program into Florida's 12th university.

FAU, which faces a $47 million reduction, would lose about one-third of its state financing. FAU President M.J. Saunders called the cut "devastating," and warned it would send shudders across South Florida.

"FAU provides a $4 billion economic impact to its six-county service region, and these cuts would be shattering to all we serve," Saunders said.

The House, in its budget plan, doesn't rely on the same depth of university cuts. But state spending on higher education has dropped 24 percent since 2008, records show, prompting universities to demand more from students and their families, even as many struggle in a still fragile economy.

Tuition at five state schools has spiked 60 percent over the past four years, and 45 percent at the six others, including FAU.

Alexander, though, said state finance records show schools had $859 million in reserves available at year's end -- $300 million more in reserves than in 2008, when the steep tuition climb began.

He said it was wrong to claim the latest cuts would fall "on the backs of students."

"The almost $1 billion these universities have in reserves is equal to the working capital reserves of the state of Florida," Alexander said.

Read more @ http://www.palmbeachpost.com/news/state/senate-budget-would-have-fau-other-universities-dig-2178259.html

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