Steve Hobbs

Icet's "artistic" budgeting

House Budget Committee Chairman Allen Icet presented his plan for distributing federal recovery money to colleges and university yesterday, and it didn't go quite as he'd hoped.  Here's a summary of the Icet plan from the News-Leader's Chad Livengood:

Under his proposal, Icet took a standard formula for funding the universities based on size and cut University of Missouri's four-campus system by 30 percent, totaling $14.6 million.

Icet then redistributed that money to the other 10 universities. Ten of the schools got a 45 percent increase in funding. For MSU, it means about $4.4 million more.

But Icet's plan proposed giving Southeast Missouri State University 144 percent more, nearly tripling its share of the stimulus from $4.8 million to $ 11.7 million.

This plan to shift the money away from the MU system didn't sit well with Rep. Steve Hobbs (R-Mexico) and other members of the committee, who didn't understand Icet's unilateral decision to shift the cash. Livengood's whole story on the meeting is worth a read, but his Twitter message from the meeting tells you everything you need to know: 

Rep. Icet has no real explanation as to why he took from University of Missouri and gave to SEMO State.

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St. Patty's Day Wrap-Up

  • Outrage with AIG is overflowing. Russ Carnahan and others are pushing legislation to recoup bonuses from bailout firms. [Post-Dispatch] [CNN][CQ]
  • Treasurer Zweifel struck a deal with bankers to increase the interest rate banks pay for state time deposits. Under the agreement, banks would gradually phase in the payment of competitive interest rates for state deposits. At the same time, the state’s linked deposit program, which loans money through local banks at low interest to small businesses, will grow to serve companies of 100 or fewer employees. [Daily Tribune]
  • According to the NY Times, MO wins the ready & rearing shovel award for making the 1st stimulus project in the nation happen but is only 18th in terms of sway in Congress [NY Times] [Beacon] [Roll Call]
  • The PD slammed the GOP leadership (again) for putting ideology before families (again). "You might expect that staggering growth to inspire a sense of urgency in Jefferson City. Instead, state legislators spent the past weeks spewing hopelessly out-of-touch political rhetoric." [Post-Dispatch]
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