Florida public universities are expected to see spending slashed by $300 million in a deal reached by House and Senate lawmakers on Tuesday. The agreement also includes a sweeping plan to create an independent Florida Polytechnic University, pushed by Senate Budget Chairman JD Alexander, who insisted on writing it into law.
Florida State University would take the largest reduction at more than $65.8 million. This would be followed by the University of Central Florida which would see spending cut by $52.6 million.
Next up is USF with a $45 million reduction, not counting the $5 million cut for Polytechnic.
A complicated formula to decide how to split up $300 million in onetime cuts for the 11 existing universities, Polytechnic, and two other USF satellites, was agreed to.
Lawmakers say, universities should respond to the spending reductions by drawing on their reserves.
A handful of universities will also get at least some of the cuts back in the form of state funding in other parts of the budget or by raising tuition.
On Wednesday, Gov. Rick Scott said, universities should figure out a way to cut costs just like every other business has had to do, in order to avoid raising the cost of college education. At the same time, Scott has been a proponent of more tech opportunities in higher education, which university officials say, cost more to deliver.
