September 17, 2010 DASNR Fall Faculty Meeting 2010 Fall Faculty Meeting EXPENDITURESREVENUE OSU Research Expenditures > $ 58,000,000 36% * J. R. McCaull J. R. McCaull Texas County Institute of Agricultural Biosciences Ardmore Requires the State to annually spend no less than the average amount spent on each student by the surrounding states (Missouri, Texas, Kansas, Arkansas, Colorado and New Mexico). Oklahoma is 49 th in the country in per pupil spending at about $8,006 per student in a year. The regional average for surrounding states is estimated at $9,633. If the average amount spent by surrounding states declines, Oklahoma must continue to spend the amount spent in the prior year. The measure requires that increased spending begin in the 1 st fiscal year after its passage, and that the surrounding state average be met by the 3 rd fiscal year after passage. The measure does not raise taxes, nor does it provide new funding for the new spending requirements. According to a House interim study, the only ways to fund SQ 744s mandate would be through tax increases or cuts in all other state agencies. Cost to implement in the first year would be $850 million and nearly $1.7 billion over the 3-year phase-in period. Fully implemented, SQ 744 would require 12.7% growth in state revenue (based on FY 2011 state general revenue of $6.7 billion) OR Raising state income tax by 34% or state sales tax by 38% OR At least 20% additional budget cuts to state agencies (in the immediate aftermath of the worst state budget crunch in modern history) A 20% cut in state appropriations for OSU-Stillwater would be approximately $25 million. 16 Pickens Legacy Scholarships 21 New Chairs and Professorships (2008-present). Represents 45% increase. DASNR FY10 Goal $3,500, DASNR Production $3,965, Development Team: Kathy McNally Darin Russell Denise Unruh