When I was Chancellor, I was a staunch advocate of fixing a broken funding formula. When Dan Klaich took the helm, he continued that effort and has worked hard to create a funding formula that is transparent, equitable and perhaps most important of all, funds Nevada’s colleges and universities on student success. The current formula accomplishes almost the complete opposite. The time for studies is over. The time for action is now. The new funding formula must be approved on August 29 so Nevada’s higher education system can have a future and free itself from antiquated legislative policies.