SENATE BILL REPORT
SB 5512
As of January 24, 2023
Title: An act relating to adding financial transparency reporting requirements to the public four-year dashboard.
Brief Description: Adding financial transparency reporting requirements to the public four-year dashboard.
Sponsors: Senators Holy, Liias, Rivers, Salomon, Wilson, J., Schoesler, Torres, Wilson, L., MacEwen, Dozier, Wagoner, Warnick, Gildon, McCune, Short, King, Braun, Muzzall, Nguyen, Billig and Boehnke.
Brief History:
Committee Activity: Higher Education & Workforce Development: 1/25/23.
Brief Summary of Bill
  • Adds measures of institutional resources and financial health to the statewide public four-year dashboard.
SENATE COMMITTEE ON HIGHER EDUCATION & WORKFORCE DEVELOPMENT
Staff: Alicia Kinne-Clawson (786-7407)
Background:

The six, public four-year institutions of higher education in the state are required to submit data for a number of accountability measures to the Office of Financial Management by December 1st each year. The education data center manages the statewide public four-year dashboard which displays the accountability measures identified in statute. Data required to be submitted includes enrollment information, the number and types of degrees awarded, graduation rates, transfer rates, time and credits to degree, credit accumulation, retention rates, student debt load, market penetration, and much more.
Summary of Bill:

The following measures are added to the statewide public four-year dashboard:

  • ratio of fall headcount students to fall headcount faculty appointments;
  • annualized ratio of full-time equivalent (FTE) students to FTE nonfaculty positions;
  • annual operating margin;
  • annual primary reserve ratio;
  • minimum reserves;
  • viability ratio;
  • ratio of total financial resources per FTE student; and
  • total market value of endowment holdings.
Appropriation: None.
Fiscal Note: Requested on January 23, 2023.
Creates Committee/Commission/Task Force that includes Legislative members: No.
Effective Date: Ninety days after adjournment of session in which bill is passed.