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Missouri Gov. Mike Parson proposed a $52.7 billion Missouri state budget for fiscal year 2025, adding a 3 percent increase in higher education funding.
Posted January 29, 2024
Universities and community colleges could receive a 3 percent boost in funding if the state legislature approves Missouri Gov. Mike Parson’s state budget proposal.
During Wednesday’s annual State of the State Address to the Missouri General Assembly, Parson unveiled his proposed $52.7 billion budget. The budget would allow for a 3 percent increase in higher education operating budgets in addition to $314.7 million to fund new construction for all two- and four-year institutions.
Investments in institution infrastructure would include funding for UNKC’s Health Sciences District, the University of Missouri-Columbia NextGen Precision Health program and the University of Missouri-St. Louis’ Campus of the Future.
Parson’s proposal would also allocate funds toward Missouri’s K-12 system.
“We know that guaranteeing Missouri’s strong foundation starts with a quality education in our children,” Parson said during his State of the State speech.
The Teacher Baseline Salary Grant program aims to increase baseline teacher pay from $25,000 to $40,000 for all Missouri teachers. The budget would also fully fund the K-12 education formula and school transportation.
