Statutory Formula Review Committee Meeting
The Complete College Tennessee Act of 2010 included a provision for an outcomes-based funding formula model. THEC, in conjunction with systems, campuses, and state government representatives, developed the model, which was first utilized for the 2011-12 budget cycle. The funding formula provides incentives to institutions for completion and workforce preparation that reinforce the policy objectives of the Master Plan. The Formula Review Committee (FRC) meets annually to review the model and recommend changes.