Under the state’s new performance-based funding model, WKU will receive $3.83 million from the funding, which is a net gain of about $142,000, according to information provided by President Gary Ransdell at a forum Wednesday afternoon.

Ransdell held the forum to speak and answer questions about the new model. Ransdell was the chair of the Postsecondary Education Working Group which submitted the proposal for the new method to state government.

Ransdell said the goals of the model are to increase the number of bachelor’s degrees earned by all Kentucky students and to increase retention and progress toward degrees in a timely manner.

“The state wants to use this model as a means to better serving students, better working with public schools, better services to retain and graduate students, and putting more students into the work system with a bachelor’s degree,” Ransdell said.

The four-year university model will distribute funds with 70 percent based on performance and 30 percent based on vital campus operations. It will also include safeguards to adjust for smaller schools to give each institution an equal opportunity for funding.

The performance will be based on student success including number and types of bachelor’s degrees awarded, student progress at various points of credit hours completed and course completion compared to other state universities.

The 30 percent of campus operations is based on institutional support, academic support and maintenance and operations, each making up 10 percent of the total.

The model will be phased in over the next three years. In the upcoming 2017-18 year, the model will be used to distribute $42.9 million in performance-based funds.

Reporter Jamie Williams can be reached at 270-745-6011 and [email protected].