Budget panel signs off on UW performance funding formula

The Legislature’s budget committee has signed off on the University of Wisconsin System’s plan for divvying up a chunk of new state aid according to schools’ performance.

The state budget handed the system $26.25 million in new aid but tied the money to performance in four areas: student success, student profess toward graduating, workforce contributions and enhancing efficiency.

Regents approved a plan in December that establishes 16 metrics for each institution, including enrollment, degrees awarded, and time-to-degree.

The starting point for allocating the extra money would be the share of total state tax dollars and tuition revenue each institution receives. That amount would be adjusted according to performance on the metrics.

The committee approved the formula 11-4 Wednesday.