The Iowa Board of Regents approved a funding model June 4 that will give Iowa State and the University of Northern Iowa more money.

The performance-based funding model proposed by the board will reward universities for increased in-state enrollment and meeting performance goals.

With gains for Iowa State and Northern Iowa, the University of Iowa may lose a significant amount of state funding with the new model because the other two regent universities have more in-state students.

The board voted 8-1 in favor of the model. Bob Downer of Iowa City cast the dissenting vote.

The majority of the funds, 60 percent, are based on in-state enrollment. The remaining funds include 15 percent based on progress and attainment, 10 percent for access, 5 percent for sponsored research, 5 percent for graduate and professional studies and 5 percent based on regent-selected metrics.