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This study examined the predictive relationship between the percentage of budget expenditures for instruction and academic support, affordability of tuition, and student completion rates at three selected Missouri community colleges. The objective of this study was to consider how these variables could be included or excluded from the Missouri state performance funding formula that determines state funding allocations to colleges in an effort to increase student completion rates. By better understanding research on factors that positively predict improved student completion rates, public officials in the state of Missouri and leaders of higher education at the three institutions analyzed in this study can make better data-informed budgetary decisions. Using multiple regression analyses, the predictive relationships between three independent variables of budget expenditures for instruction, budget expenditures for academic support, and affordability with the dependent variable of student completion rates were investigated. Results showed that at the three selected Missouri community colleges analyzed, affordability had a significant predictive positive relationship with student completion rates, and larger declines in the percent of budget spent on instruction had a significant predictive negative relationship with student completion rates. Results at the three selected Missouri community colleges did not indicate a significant predictive relationship between the percent of the budget spent on academic support with student completion rates. Results of the study indicated that the affordability measure, which as of 2021 was a measure included in the State’s performance funding formula, should continue to be part of the Missouri performance-based funding strategy for higher education. Results also indicated that there may be a reason to consider limiting substantial budget reductions in the category of instruction as part of the State’s performance funding formula. |
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