Regents approve budget increase for 2015

Matthew Rezab

The Iowa Board of Regents unanimously approved the 2015 fiscal year budgets for Iowa State, the University of Iowa and the University of Northern Iowa this month.

Iowa State’s approved budged of $584.6 million for 2015 is a $32.4 million — 5.8 percent — increase from 2014. The increase is due to more revenue from state appropriations and increased tuition revenue resulting from rising enrollment.

Iowa legislators approved a tuition freeze last year.  A tuition freeze for the 2015 year has been proposed as well.

ISU President Steven Leath said the university will focus on four priorities when dispersing the extra revenue: maintaining academic excellence, enhancing basic and applied research, promoting economic development and improving the campus environment.

“We feel [these priorities] are key to the overall success of both the students and the university,” Leath said.

Leath highlighted keeping college affordable, recruiting and retaining quality faculty and improving the student experience at Iowa State as goals for the 2014-15 academic year.

Iowa’s three regent institutions — Iowa State University, Iowa and Northern Iowa — will have a combined budget of $1.45 billion for fiscal year 2015.