By Moses M. Tokpah
-Margibi
The president of Margibi University (MU) the Margibi University President has called for the establishment of a funding formula for public colleges and universities that will address inequities.
Dr. Joseph Isaac, speaking at the 3rd commencement convocation of the institution, held in the Auditorium of the Harbel Multilateral High School over the weekend in Margibi County, said the way public higher education in Liberia is being funded needs to be reviewed and modified.
He believed that in order to make public higher education funding more equitable, there is need for a formula that will consider not only operating budgets, but the capital budget of each institution.
“I would like to recommend that the funding formula should be based on several variables, such as a percent of the National Budget, a percent of UL operating budget.
There should be enrollment and performance factors, location cost factor, institution size factor (such as land and buildings); and institution’s contributing revenue factor (tuition and fees)” he stressed.
Dr. Isaac then recommended that whenever a new college or university is established, or an existing college is being elevated to university status, the initial operating and capital budgets should be a part of the Act that establishes it.
He noted that when an institution is called a university, especially an undergraduate university, it should look, feel, talk, act, and walk like a university.
Isaac decried what he called low budgetary allotment to the institution thereby impeding its operation.
He said the greatest challenge faced by the university at the moment is low budgetary allotment.
According to him, the institution’s current operating budget is US$581,000, an operating budget Dr. Isaac said is grossly insufficient for the running of the university.
The Margibi University President mentioned that his administration estimates an amount between US$1.2million to US$1.8million as operating budget, and at a minimum, if the administration suspends a few initiatives, may be able to work with US$882,000 for the first year of operation.
Dr. Isaac revealed that the institution lacks Science Laboratories narrating that the approximate cost to create Biology, Chemistry, and Physics laboratories is US$250,000.
He stated that the institution does not have vehicles, motorbikes, and not even a Kekeh for him to use as president of the university.
Additionally, he explained that the university does not have a cafeteria, and a Library indicating that currently the administration is using a classroom as a Learning Resource Center.
Dr. Isaac also asserted that the campus of the institution does not accurately represent that of a university thus expressing the need for MU to have a capital budget.
Meanwhile, the MU President has unveiled a 10-year Master Plan which according to him, has 12 buildings including a childcare center, a building for each college, and a graduation stand, among others.
Dr. Isaac voiced that the proposed master plan comes with a conceptual cost of US$10.5 million, excluding annual inflation.
President Joseph Boakai assured Dr. Isaac and the public that the master plan will fully be supported by the government.
Boakai emphasized that the government under his presidency, will make sure that the plan is achieved in less than the 10-year for which it is being planned.
“We are going to fast-track the plan to make sure that the young people of Liberia have what they call a ‘real university’ in by far less than that time” President Boakai assured the MU Administration and the public.