The Nevada Legislature completed an analysis of the funding formula over a decade ago. The analysis compared Nevada’s higher education system to similar systems and institutions in the West and led to a formula that was based on mediocrity. They did not want to look at what was needed to make our colleges and universities better. They simply figured out what was adequate. And then they decided they would fund NO MORE THAN 85 PERCENT of “adequate.” It does not take a Ph.D. in economics to figure out that decision has hamstrung our education system. The time has come for Nevada’s elected officials to stop thinking about their next re-election campaign and to do what’s right for our education system: Approve the new formula.