The University of Central Florida ranked third among Florida’s 11 universities based on performance measures — meaning the school could receive additional money from the state.

The performance ranking is measured using several factors, including graduation rates and graduates’ employment and wages. UCF earned 39 out of a possible 50 points, putting it in the third highest spot.

“Our new faculty members will help UCF strengthen academic programs in STEM fields and other strategic areas, and they will help students across our university thrive in the classroom and in research labs,” said UCF President John C. Hitt. “We hope this year’s allotment of performance funding will enable us to create a significant number of new faculty positions.”

Last year, UCF earned $21.8 million in performance funding, which is currently being used to hire new faculty members in high-demand areas from molecular biology to mechanical engineering and to pay for new software programs aimed at promoting student success.

If the Legislature funds the Board of Governors’ request for performance funding this year, UCF says it plans to use its share to hire more faculty members.