The University of South Florida continues to be one of the state’s top-performing institutions, according to new data presented this week to the Florida Board of Governors (BOG).
USF placed third overall in the state’s performance-based funding standings, which measure universities on a series of student success-based metrics. Since the state implemented the performance-based funding model in 2014, USF is the only university to finish in the top four every year.
“The University of South Florida continues to embrace the accountability that comes with performance-based funding, and this important achievement shows that we are focused on meeting the needs of our students, region and state,” USF President Rhea Law said. “Our performance will provide additional resources to invest in our students, faculty and staff to help us build on our recent invitation to join the Association of American Universities and our pursuit of becoming a top 25 public university.”
This year no university scored higher than USF in four categories, including several important measurements tied directly to economic and workforce development, such as the percentage of bachelor’s and graduate degrees awarded in areas of strategic emphasis and average wages of undergraduate students one year after earning their degrees.
The areas of strategic emphasis were developed by the BOG to help align degree production with workforce demand, and include fields such as STEM, health care, cybersecurity and teacher preparation. Strong performance in these categories indicates that USF is leading the way in preparing students for careers in high-demand fields, filling the talent pipeline for employers in the Tampa Bay region and driving the state’s economy.
The BOG’s performance model is tied to millions of dollars in state funding that universities can earn, or have at risk, each year based on their outcomes. USF’s performance will result in a significant funding increase, as this year the legislature and governor increased the amount of performance-based dollars available for universities to earn. With the state’s additional investment, USF will receive approximately $15 million more than last year as a result.
More information on the BOG’s performance-funding model is available here.
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