TALLAHASSEE, FL (WTXL) - Both FSU and FAMU were collectively awarded $46.1 million dollars for their excellence and improvement in performance measured by the Board of Governors.
In recognition of their accomplishments, the Board of Governors awarded millions of dollars in institutional funding to Florida State University and Florida Agricultural and Mechanical University.
The schools achievements are measured by the Board's Performance Funding Model, which is made up of 10 metrics that include graduation rates, retention rates, and percentage of bachelor's degrees awarded within certain programs over the last six years.
Both schools will receive funding based on the performance and improvements they have made according to the model. FSU was awarded $10.6 million dollars for its performance with an additional $10 million from the Florida Legislature. FAMU, which saw a 13-point improvement from last year, earned $14 million with an additional $11.5 million from the state.
FAMU says it will use the money to continue improving performance on graduation and retention rates, as well as post-graduation success. FSU says their funds will be invested in hiring and retaining faculty and staff as part of its goal to become one of the top 25 public universities in the nation.
