WARRENSBURG — A panel of state lawmakers holds a hearing at the University of Central Missouri this week on the creation of a funding formula for higher education institutions.
Tuesday's hearing is the second of three scheduled by thelegislature's Joint Committee on Education.
A bill approved earlier this year directed the committee to develop a funding formula by the end of 2013 and said the legislature should implement it for the 2015 budget year.
Sen. David Pearce, R-Warrensburg, chairs the 14-member committee. He said the panel wants ideas for developing a rational basis for core funding for colleges and universities, and for setting performance-based standards.
Warren said more than 12 states recently have developed performance evaluation standards that consider such factors as a school's mission and rates of student retention.