ST. PETERSBURG, Fla. — The president of a university in Florida says it will get millions in bonus dollars from the state.

Tampa Bay Times reports the University of South Florida said Wednesday it achieved “preeminent” designation, which lawmakers decided in 2013 would honor top-tier universities and their budgets. USF president Judy Genshaft made the announcement in her fall address to students.

It’ll be determined in winter how much USF will receive. Last year $16 million was available.

Only the University of Florida and Florida State University have met the requirements, which entail 11 of 12 benchmarks including graduation rates and endowments.

Officials contracted with data experts to analyze student performance, and USF hit the 70 percent mark after its 6-year graduation rate had been just below the requirement. Although USF’s endowment doesn’t meet, it’s quickly growing.


Information from: Tampa Bay Times (St. Petersburg, Fla.), http://www.tampabay.com.