The House is advancing a proposed budget that would significantly expand New College of Florida’s institutional footprint as part of a broader effort restructuring higher education in Sarasota.
The House’s proposed budget, published Thursday, would direct nearly $37 million to New College of Florida while also setting up a potential $22.47 million funding transfer from the University of South Florida.
The potential transfer comes after Gov. Ron DeSantis proposed handing over all real property and facilities associated with USF’s Sarasota-Manatee campus to New College, a move that would significantly alter the region’s higher education landscape.
The House budget also specifies that $10 million in recurring general revenue funds allocated to New College must be used for operational enhancements, and that at least $5 million must be used to provide scholarships to students. The House budget also directs $204,407 to New College for student financial assistance, with at least 75% of those funds required to be distributed as need-based aid.
Under DeSantis’ proposal, all buildings, dormitories, leaseholds and facility-related liabilities at the Sarasota-Manatee campus would shift from USF to New College, though students, employees, fund balances and research contracts would remain with USF. Current USF Sarasota-Manatee students would be guaranteed the ability to complete their degrees locally for up to four years.
If approved, New College would assume full legal and financial responsibility for the campus’s outstanding facility debt by Oct. 30 — making monthly payments of $166,617 to USF to cover debt service until repayment is complete.
Together, the budget language and the Governor’s campus transfer proposal signal legislative backing for New College’s expansion in Sarasota, building momentum for the potential transfer of all USF Sarasota-Manatee campus facilities to New College. The House spending plan must still be reconciled with the Senate’s proposal before lawmakers send a final budget to the Governor for approval.
