Editorial: UAM Chancellor on Act 1
Published by Jeff October 31st, 2006 in Site.This Act will generate $250 million in funding for higher education to help colleges and universities meet pressing facility and technology needs. For UAM, it means $4.1 million to replace outdated technology infrastructure and to participate in the E-Corridor high-speed fiber-optic network.
Why do we need Act 1?
There have been limited capital funds from the state for higher education since 1991. Currently, there is no continuing source of public funding for academic facility renovation or technology improvements. The only two means for funding are tuition-backed revenue bonds or private gifts. As our colleges and universities experience record growth (UAM’s enrollment hit an all-time high of 3,179 this fall), any new capital expenditures have had to come from the issuance of bonds or private donations.
These bonds are critical for Arkansas’ college students. They provide a means to fund necessary improvements on our campuses while keeping a quality education affordable for students.
Act 1 is NOT a new tax. Of the $250 million in funds to be raised by this initiative, $100 million will be used to restructure the state’s current bonded debt with the remaining $150 million to go to the state’s colleges and universities.
Act 1 is good for Arkansas’ colleges and universities, it’s good for UAM, and it’s good for the young people of our state. I urge you to vote on November and I join our students in asking you to vote for Referred Question 1.
Possibly Related:
SE Arkansas Cornerstone Coalition, Inc. supports Act 1
Voting is one of the greatest privileges we have as Americans. Not only does
this cherished right give us the chance to voice our opinion as a society, it
provides a tremendous opportunity to produce a more economically viable
Arkansas.
One way to guarantee a brighter future for Arkansas is to vote FOR Referred
Question 1; better known as the Arkansas Higher Education Technology and
Facility Improvement Act.
Act 1 is not a new tax, and will not raise taxes. It will authorize the state
to issue up to $250 million in bonds for Arkansas’ higher educational
institutions, allowing them to be able to finance facility and technology
improvements, as well as be more competitive with the colleges and universities
in surrounding states.
In Southeast Arkansas, the University of Arkansas at Monticello is the
educational and economic hub of the region. With a record enrollment of
students (3,179) registered this fall, UAM relies heavily on the issuance of
bonds and private donations for capital expenditures.
Act 1 will provide UAM $4.1 million to be used to:
• endow the campus with high-speed information transfer technology as one of
10 statewide e-corridor connections
• provide data network upgrades university-wide to replace the 22-year old
administrative software
• install advanced technology and communication support for the campuses in
Monticello, McGehee and Crossett
The Southeast Arkansas Cornerstone Coalition, Inc., a regional non-profit
economic development organization, supports Act 1 and encourages Arkansans to
vote on November 7. Your support will not only benefit today’s students, but
will help to assure a successful future for Arkansas.
Jo Anne Smith
Executive Director
Southeast Arkansas Cornerstone Coalition, Inc.
Monticello, Arkansas