The Florida Board of Education approved a new performance-funding system for its state colleges OK to add "most of them formerly community colleges"? -sjthat will determine how to award $40 million to the institutions. The plan resembles a larger performance plan that started last year for the state's universities. The colleges are scored in four categories: completion, retention, job placement and continuing education for graduates and entry-level wages for graduates. Completion and retention rates will initially be weighed more heavily than the other two categories.
Seven colleges will receive existing funding and a higher share of new money. They are State College of Florida, and Santa Fe, Valencia, Tallahassee Community, Lake-Sumter State, Gulf Coast State, Manatee-Sarasota and Florida SouthWestern State Colleges. Five institutions will not receive any new funding and will have some existing dollars held back until they show improvements. Those colleges are College of Central Florida, Pasco-Hernando State, Daytona State, Northwest Florida State and Pensacola State colleges. Sixteen other colleges will receive existing and some performance funding.