UM System President Tim Wolfe announced in a news release Friday that MU will receive $13,610,000 in new state funding for MU’s strategic plan.
$10.67 million of the funding will go toward the development of a new program in the College of Veterinary Medicine’s large animal program.
The rest of the funding will be used in renovations and other projects involved in MU’s strategic plan outline, which include improving interdisciplinary and experimental learning, recruiting and retaining more faculty, improving research infrastructure and improving the university’s outreach program.
A total of $22,172,750 in funding is being split among the four campuses and the UM System. The Missouri University of Science and Technology will receive $3,202,000, University of Missouri - St. Louis will be awarded $2,165,000 and $2,612,750 will go to the University of Missouri - Kansas City. The UM System itself will receive $583,000.
The arrival of this funding is contingent on Gov. Nixon’s veto of House Bill 253 being sustained. The Missouri General Assembly is scheduled to vote on whether or not they will override the veto in September’s special session.
Along with relying on state funding, the system and its campuses have budgeted $48.5 million to invest in strategic plans. Even if state funding is lost, this budgeting will allow strategic plans to continue and meet their completion deadline of 2020.