In order to promote a coordinated system of higher education in Arkansas and to assure an orderly and effective development of each of the publicly supported institutions of higher education, the Arkansas Higher Education Coordinating Board shall have the following powers and duties:
(1)
(A) To review, evaluate, and coordinate budget requests for the state-supported universities and colleges and present to the General Assembly and to the Governor prior to each regular session of the General Assembly a single budget report containing the recommendations for separate appropriations to each of the respective institutions.
(B) The recommendations will be consistent with a comprehensive master plan of postsecondary education in Arkansas as developed by the board.
(C) The recommendations, insofar as possible, will be based upon standard techniques of objective measurement of need and unit cost figures arrived at through comparative data secured from the several institutions.
(D) Specific needs of institutions based upon existing programs and deficiencies will be given consideration; and
(2)
(A) To develop, in conjunction with the institutions of higher learning, the Governor, and the Legislative Council, a single set of budget forms which will be utilized by all parties in making requests and recommendations for the funding of state-supported colleges and universities.
(B) The forms and process will require that the total income and expenditures of each institution must be considered in the request process.