House approves $34 billion state budget for fiscal 2014

The state House of Representatives approved a $34 billion fiscal 2014 state budget on April 24.

 

The measure, which passed 127-29, adds nearly $135 million to the spending plan proposed by the House Ways and Means Committee and includes $39 million in new funding for the UMass system.

 

Currently, the state provides 43 percent of the cost to educate a student with students providing 57 percent. The university has proposed, under the leadership of President Robert Caret, that funding to reach the 50-50 formula could be phased in over a two-year period given the state’s fiscal challenges. In exchange, the Board of Trustees has pledged to approve a two-year freeze in tuition and fees. Part of the university’s success in managing costs is an ongoing efficiencies program that has yielded more than $100 million to date with additional savings expected.

 

The budget plan also include $15 million in new funding for the nine-campus state university system and $29.75 million for the 15 community colleges. Several campus leaders have indicated that the additional support will allow the schools to freeze tuition and fees at this year’s levels.

 

The increase in UMass funding from $439.5 million to $478.7 million next year places the university on a path to a 50-50 funding formula and a freeze on tuition and fees.

 

The budget process shifts next to the Senate, which will develop its own spending plan.

 

After both chambers adopt budget bills, differences will be resolved by a conference committee. Once adopted by the House and Senate, the compromise bill will be sent to the governor, who can sign or veto the bill or refer sections back to lawmakers.