Governor Blunt Directs $2.3 Million to Higher Education, Calls for Funds to Enhance Economic Development

FROM THE OFFICE OF THE GOVERNOR

June 19, 2008

Contact: Jessica Robinson, 573-751-0290


JEFFERSON CITY  Gov. Matt Blunt today announced he is directing state budget officials to send $2.3 million, held in reserve from the Lottery Proceeds Fund, to public Higher Education Institutions across the state. The release builds on the governors landmark higher education initiative and supports recent economic growth in the state.

"State investments in education and our institutions of higher learning directly contribute to Missouris economic vitality," Gov. Blunt said. "The additional resources for public higher education I released will directly benefit Missourians and the Missouri economy."

As part of the states budgeting process three percent of higher education institution appropriations are held in reserve to ensure the state has enough money to cover expenses through the end of the year. With the current fiscal year end just around the corner, Gov. Blunt gave the green light to release the reserve funding from the Lottery Proceeds Fund.

"The release of the Governors reserve of the Lottery Proceeds Fund will be beneficial to public higher education," said Dr. Robert Stein, Commissioner of Higher Education. "The Coordinating Board will be acknowledging its deep appreciation for this action."

"We appreciate Governor Blunts decision to release these funds, which will directly support our research and economic development missions. The University of Missouri System will use the seed money for promising economic development initiatives in cooperation with the state Department of Economic Development. The funding will enable the University to move more research discoveries and new technology to the market place and that means a greater return on investment to the people of Missouri," said Gary D. Forsee, president, University of Missouri System.

The governor directed higher education officials to use the funding to benefit Missouris economic development and build on the strong economic growth under the governors leadership. Gov. Blunt has called for institutions to report their plans for using these funds to help illustrate how additional resources for public higher education directly benefit Missourians and the Missouri economy.

Gov. Blunt has successfully restored order to a broken state budget. He inherited a devastated state budget in January 2005 that was $1.1 billion in the red and had lost 34,000 jobs in the previous four years. The governor enacted real lawsuit and workers compensation reforms within his first months in office and created the Missouri Quality Jobs Act which has helped create more than 22,000 new jobs across Missouri. Overall, Gov. Blunts pro-jobs, pro-growth initiatives have helped Missourians create more than 80,000 new jobs since January 2005.

Education is Gov. Blunts highest budget and policy priority. He has increased funding for education every year he has been in office, delivering a monumental $1.2 billion new dollars for education over four years. Gov. Blunt has championed initiatives to prepare students for the technology based jobs of the future, making it easier for students to take advanced placement math and science exams, supporting expanded teacher training and providing new money to help pay testing costs for students.

Despite Attorney General Jay Nixons call for a veto, the governor enacted a landmark higher education package last year that nearly quadruples funding available for Access Missouri scholarships, includes tuition controls to make college more affordable for families, and includes his historic Lewis and Clark Discovery Initiative, which provides $335 million for new state-of-the-art learning centers for Missouri students.