Comptroller’s Office Updates Outcomes-Based Funding Formula Dashboards
The Tennessee Comptroller’s Office of Research and Education Accountability (OREA) has released an update to its interactive dashboards explaining the outcomes-based funding formula (OBF), which allocates money to public colleges and universities based on how well they perform.
The formula generated $1.25 billion for public colleges and universities for the 2022-23 school year.
The OBF uses a point system, in which a variety of measures within three main components (weighted outcomes of performance, fixed costs, and quality assurance) are used to determine each institution’s point total. The proportion of state funding that will be appropriated to each institution is then calculated using the point totals.
In total, there has been a 44% increase in the state OBF appropriation since 2016-17, driven by increased outcomes, inflation, salary and insurance increases, and other changing costs.
Users of the university and community college dashboards may select an institution to view its specific makeup of formula components and performance data – including outcome data, mission weights, point totals, appropriation share and point growth, and more. When no institution is selected, the dashboards serve as a comparison tool showing all institutions’ performance.
OREA has previously prepared a video tutorial providing context to the dashboard reports and explaining how to navigate them.
To interact with the dashboards, watch the video, and see other OBF materials, please visit the Comptroller’s OREA website at: tncot.cc/orea.
Media contact: John Dunn, Director of Communications, 615.401.7755 or firstname.lastname@example.org