After freezing Florida’s matching gift program, lawmakers might be preparing to place ice on another critical source of university funding: Public Education Capital Outlay (PECO) dollars.
At last week's Board of Trustees meeting, the Division of Administrative and Financial Affairs reported some bad news from the Florida Board of Governors. The BOG has learned that due to a projected tax revenue shortfall, the legislature might not make any PECO appropriations for the 2010-2011 fiscal year.
A year without PECO dollars would have dire consequences on FAMU’s academic programs. PECO money, which comes from utility taxes, is the biggest source of construction funding for the State University System.
FAMU’s top PECO priory for 2010-2011 is $8M for utilities, infrastructure, capital renewal, and roofs. FAMU officials warn that without the money, critical building code and electrical safety upgrades will be stalled.
The second and third PECO priorities are $30.9M for Pharmacy Building Phase II and $17M for FAMU-FSU College of Engineering Phase III, respectively. Construction delays could negatively affect those programs’ re-accreditation processes. Pharmacy and Engineering colleges are required to meet certain lab space requirements in order to remain in good standing with their accreditors.
FAMU pharmacy goes up for re-accreditation in 2010.
Without PECO, FAMU’s construction projects will be much more dependent upon the Capital Improvement Trust Fund (CITF) fees that are paid by students. The new recreation center is an example of a CITF-funded building.
Pictured: Coleman Library’s Second Phase Construction, a PECO project.
At last week's Board of Trustees meeting, the Division of Administrative and Financial Affairs reported some bad news from the Florida Board of Governors. The BOG has learned that due to a projected tax revenue shortfall, the legislature might not make any PECO appropriations for the 2010-2011 fiscal year.
A year without PECO dollars would have dire consequences on FAMU’s academic programs. PECO money, which comes from utility taxes, is the biggest source of construction funding for the State University System.
FAMU’s top PECO priory for 2010-2011 is $8M for utilities, infrastructure, capital renewal, and roofs. FAMU officials warn that without the money, critical building code and electrical safety upgrades will be stalled.
The second and third PECO priorities are $30.9M for Pharmacy Building Phase II and $17M for FAMU-FSU College of Engineering Phase III, respectively. Construction delays could negatively affect those programs’ re-accreditation processes. Pharmacy and Engineering colleges are required to meet certain lab space requirements in order to remain in good standing with their accreditors.
FAMU pharmacy goes up for re-accreditation in 2010.
Without PECO, FAMU’s construction projects will be much more dependent upon the Capital Improvement Trust Fund (CITF) fees that are paid by students. The new recreation center is an example of a CITF-funded building.
Pictured: Coleman Library’s Second Phase Construction, a PECO project.