ULM budgets the full 3% max allowed; UL only budgets 2%.
That 1% for UL is $10-12,000,000 less than max allowed.
So when UL is over budget by 8 million.......they were actually under full max budget allowed by 2-4 million.
Why does UL only budget 66% of the state max allowable funds? No clue. My best guess is.....
LTURd"s max 3% and our budgeted 2% are nearly the same value. UL is roughly 1/3 larger.
UL.has been under budgeting for years.....they only budget for 2% of revenue vs the allowable 3%. In the past 2 decades......they were under max allowable budget roughly $150,000,000