The Board of Regents will approve the annual report on the volume of student financial aid awarded at the Regent universities Wednesday.

The total amount of financial aid awarded to students at the public universities was $882,088,526; which represents an increase of $66,016,472 from the prior year, according to the report.

The Regents will also be considering the adoption of a resolution that would permit the university to be reimbursed from future borrowing for costs incurred for the Cyclone Sports Complex.

At the Regents March meeting, the Board authorized the university to enter into a financing agreement for the project, subject to necessary approvals from the Board Office.

“The university envisions borrowing these funds this summer. The reimbursement resolution is being submitted at this time to ensure maximum reimbursement capability under regulations of the federal Internal Revenue Code. Pursuant to these regulations, project payments made not more than 60 days prior to adoption of the resolution are eligible for reimbursement for future financing,” according to the resolution.

The university will also be presenting a proposed storm water management design for the complex in the capital improvements proposal.

Also in the capital improvements proposal is a request by the university for the Regents to approve the schematic design, project design and budget of $11 million for Iowa State’s Troxel Hall project.

“Troxel Hall would be a new, free-standing building … with a state-of-the-art 400-seat auditorium, pre-function and student entertainment spaces, as well as a post-class meeting room, chemistry preparation room, auditorium storage and building support spaces,” according to the proposal.

The auditorium would be designed to accommodate high-demand courses, while optimizing the quality of instruction and student learning, according to the proposal.

“Existing university auditoriums are heavily scheduled and the ability to accommodate scheduling changes is severely limited by the number of large auditoriums. There are currently only five general university auditoriums on campus that can accommodate more than 350 students, and one is substandard learning and teaching environment,” according to the proposal.

The project budget of $11 million is being funded by private gifts, income from Treasurer’s Temporary Investments, facilities overhead use allowance and the College of Liberal Arts and Sciences.

Troxel Hall would be located just east of Horticulture Hall and the new greenhouses.

Several groups of faculty and staff from the Regent institutions not organized for the purpose of collective bargaining, including the ISU Faculty Senate and the University Professional and Scientific Council, have been invited to make presentations to the Board on salary policies for fiscal year 2012.

Irene Elbert, president of the Inter-institutional Supervisory and Confidential Council, wrote a statement to the Regents.

“With losses of several millions since July 2008 in general funds and line-item appropriations, and the loss of the one-time funding provided last year, the ability of our universities to maintain adequate staffing and resources to do business is in jeopardy,” according to the statement.

The statement lists some concerns including, “the fact that some members feel the dollars were saved in salaries due to early retirements being offered to staff last year, at the expense of those left behind that now must carry heavier workloads, or put in additional overtime, because it is cheaper for the universities to deal with the workloads in this manner rather than hiring additional employees and having to cover the employee benefit packages.”

The university furloughs experienced by the universities were cost saving, “but heavier individual workloads had to be handled upon staff return to work,” according to the statement.

Iowa State is asking for an extension of the Phase Plus Retirement Program from April 30 to June 30.

The Regents approved the ISU Phased Plus Retirement Program in April 2010.

“Based upon possible further budget reductions, the university is requesting authorization to extend the application period to June 30, 2011. Because state appropriations have not been finalized, budget planning in a number of colleges has not been completed,” according to the request.

The university is also requesting the approval of an easement with Interstate Power and Light Company.

The company is requesting a pipeline easement along Lincoln Way from Beach Avenue to University Boulevard, and along University Boulevard from Lincoln Way to Haber Road.

“The easement would be used by the company for construction, reconstruction, operation and maintenance and repair of the gas pipeline. The easement would allow a natural gas line to be relocated from its present location at the Iowa State University Power Plant Coal yard,” according to the easement request.

The Board will be voting on the sale and award of $17,595,000 of ISU dormitory revenue bonds.

The university is asking for the approval of a request to change the name of the Department of Plant Pathology to the Department of Plant Pathology and Microbiology.

The Regents will be meeting from 2:15 to 6:30 p.m. Wednesday and from 8:30 a.m. to 5 p.m. Thursday.