Tuesday, February 14, 2012

The Current Financial Formula

THE CURRENT FINANCIAL FORMULA FOR DISTRIBUTING STATE TAXES RECEIVED BY THE STATE BETWEEN THE NORTH AND THE SOUTH IS NOT SIMPLY A LITTLE UNFAIR AND ILLOGICAL, IT IS TOTALLY ILLOGICAL AND COMPLETELY UNFAIR. When the present funding formula, which was adopted under the 30 year Raggio administration, gives the Northern institutions 50% of the tax revenue, although the South has 75% of the higher education students and creates 75% of the State’s tax revenue, it should not take a Rhodes scholar to understand that this is unfair, outrageous and an insult to every Southern Nevadan.
One method to develop a formula for dividing State revenues among the eight institutions is to treat the Community Colleges and the Research Universities separately and appropriately for their missions and not use a "one size fits all" approach. Nevada needs to adopt the successful structures of states that focus on making their Community Colleges and Research Universities successful and not continue to "average" them all together as Nevada does.

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