A Council of Deans Taskforce was charged to conduct an environmental scan to determine the funding mechanisms that are currently used for post graduate pharmacy education (residency). The report summarizes the history of post graduate education and the critical elements in the changing accreditation requirements. The benefits of post graduate pharmacy education to schools and colleges and faculty are analyzed. Various funding mechanisms to support academic programs were explored including federal reimbursements to hospitals and the status of residency education in 2006/2007 was presented. The Report made three recommendations. A detailed presentation of the federal funding strategies for Graduate Medical Education supporting pharmacy residencies is presented in the Appendix at http://www.ttuhsc.edu/sop/AJPE2007.pdf.