JULY 21, 2004 - Posted at 8:07 a.m. CDT
LITTLE ROCK, AR - Leaders of Arkansas' public colleges and universities plan to seek a $53 million increase in state funding for the 2006-2007 school year.
The group agreed Tuesday to recommend the funding increase in August at a meeting of the Higher Education Coordinating Board. But university leaders say they doubt there will be much money available due to the expense surrounding court-ordered improvements at the public schools.
The higher education leaders based the funding recommendation on a new formula, which justifies as much as $832 million for 2005-06. The new formula presents lawmakers with how much money the department believes it needs to do the job, rather than just what officials think they'll receive.