21-18-16-1. “Outcomes Based Funding Formula”
Sec. 1. As used in this chapter, “outcomes based funding formula” refers to the higher educational operating funding outcomes based formula created by the commission under section 2(a) of this chapter. As added by P.L.66-2022, SEC.4.
21-18-16-2. Duty to Create Formula; Align With Long Range Plan for Postsecondary Education
Sec. 2. (a) The commission shall create a higher educational operating funding outcomes based formula that aligns with the goals outlined in the commission’s long range plan for postsecondary education under IC 21-18-8. (b) An outcomes based funding formula must be created and approved by the commission at a meeting of the commission on or […]
21-18-16-3. Funding Formula Subject to Review by Budget Committee; Funding Formula Report
Sec. 3. (a) An outcomes based funding formula approved by the commission under this chapter is subject to review by the budget committee. (b) The commission shall create a report with regard to each outcomes based funding formula. The report must contain a detailed summary of the formula, the methodologies, and the metrics used to […]
21-18-16-4. Duty to Present Funding Results for Each State Educational Institution at Budget Hearing
Sec. 4. The executive officer of the commission, or the executive officer’s designee, shall present the funding results for each state educational institution using the formula created under section 2(a) of this chapter at the same time as budget hearings are held under IC 4-12-1-8 and at the meeting at which the commission makes its […]
21-18-16-5. Duty to Measure and Make Findings on Progress in Meeting Long Range Plan With Regard to the Funding Formula; Present Findings
Sec. 5. (a) The commission shall biannually measure and make findings on the progress of each state educational institution in meeting the goals of the commission’s long range plan for postsecondary education under IC 21-18-8 as those goals pertain to the outcomes based funding formula. (b) The executive officer of the commission, or the executive […]
21-18-16-6. Audit of Data Submitted by Educational Institutions
Sec. 6. (a) The commission shall biannually engage an independent third party examiner to audit the data submitted by each state educational institution for use within the outcomes based funding formula. (b) If the audit required under subsection (a) is performed by the state board of accounts, the state educational institutions shall pay the actual […]
21-18-16-4. Duty to Present Funding Results for Each State Educational Institution at Budget Hearing
Sec. 4. The executive officer of the commission, or the executive officer’s designee, shall present the funding results for each state educational institution using the formula created under section 2(a) of this chapter at the same time as budget hearings are held under IC 4-12-1-8 and at the meeting at which the commission makes its […]
21-18-16-5. Duty to Measure and Make Findings on Progress in Meeting Long Range Plan With Regard to the Funding Formula; Present Findings
Sec. 5. (a) The commission shall biannually measure and make findings on the progress of each state educational institution in meeting the goals of the commission’s long range plan for postsecondary education under IC 21-18-8 as those goals pertain to the outcomes based funding formula. (b) The executive officer of the commission, or the executive […]
21-18-16-6. Audit of Data Submitted by Educational Institutions
Sec. 6. (a) The commission shall biannually engage an independent third party examiner to audit the data submitted by each state educational institution for use within the outcomes based funding formula. (b) If the audit required under subsection (a) is performed by the state board of accounts, the state educational institutions shall pay the actual […]
21-18-16-1. “Outcomes Based Funding Formula”
Sec. 1. As used in this chapter, “outcomes based funding formula” refers to the higher educational operating funding outcomes based formula created by the commission under section 2(a) of this chapter. As added by P.L.66-2022, SEC.4.