LINN, Mo. - Just hours after the State Technical College regents approved the school's operating budget for the 2017-18 business year that began Saturday, Gov. Eric Greitens signed the budget bills that include the state's contributions to Missouri's public colleges and universities.
And, because revenues have been less than officials predicted a year ago, when the 2016-17 state budget was passed, Greitens also announced more than $250 million in budget withholdings - including $24 million for colleges and universities.
The Legislature-passed budget had given those schools more money than Greitens had proposed in early February.
With the withholds, the colleges and universities will be getting 9 percent less money in their core budgets than was appropriated a year ago.
With withholdings, though, the governor could restore some or all of the held-back money, if the state's revenues improve.
"We were sent here to make tough decisions," Greitens said in a statement late Friday afternoon. "That's what we're doing.
"Politicians were trying to spend money we don't have.
"So we're left with two choices - raise taxes or cut spending. I will not raise your taxes."
State Tech President Shawn Strong noted the operating budget the regents approved Friday assumed a 9 percent reduction.
"Higher education is a key to the workforce development needs of Missouri," Strong noted. "These cuts, when combined with increasing costs, mean we have to dip into our reserves.
"New growth becomes difficult when the funds are not available for new initiatives.
"It becomes a vicious cycle when higher education can't produce new graduates and, as a result, employers can't hire a qualified workforce."
Strong said he believes Greitens, other elected officials and higher education leaders all understand that relationship.
"A qualified workforce will provide the long-term growth Missouri needs to help balance the budget," Strong said.
"State Tech looks forward to doing our part in developing a long-term sustainable solution."