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Texas State University System

News Release

State Budget Provides $275 Million in New Funding to TSUS Institutions (5/31/23)

 

(AUSTIN) – Texas State University System (TSUS) component institutions will receive approximately $275 million in new funding under the recently approved state budget for the 2024-2025 biennium. The new funding includes:

  • A 6.7% increase in the university formula rate, resulting in $25 million in new, reoccurring funding for TSUS four-year institutions per biennium.
  • A 13.1% increase in the state college formula rate, resulting in $15.6 million in new, reoccurring funding for the Lamar State Colleges per biennium.
  • Creation of the Texas University Fund (TUF), resulting in $34 million in reoccurring funding to help Texas State University support its “Run to R1,” subject to voter passage of a constitutional amendment in November.
  • $32 million in reoccurring formula funding per biennium to support Sam Houston State University’s College of Osteopathic Medicine in Conroe.
  • $35 million to reimburse TSUS institutions for foregone tuition revenue under the Hazlewood Legacy Program.
  • An increase in the health insurance reimbursement rate, resulting in $13.5 million for TSUS institutions per biennium.
  • $25 million in special item funding for capital projects across TSUS.
  • An $8.2 million, one-time distribution from the state’s B-On-Time Program to TSUS four-year institutions.

“Texas leaders have long understood that investments in higher education pay great dividends to the state via a skilled workforce and new discoveries that improve our quality of life,” said TSUS Chancellor Brian McCall. “The Texas State University System will continue to provide a great return on the state’s investment by doing what we do best – producing high-quality graduates and supporting innovative research that addresses the state’s and nation’s most pressing challenges.”

The Texas State University System is the state’s first university system, with seven institutions serving more than 88,000 students from far West Texas to the Gulf Coast. Established in 1911, the mission of TSUS is to provide high-quality, affordable degree and credential programs to meet the needs of Texas’ diverse and fast-growing economy.