DES MOINES — The presidents of Iowa’s three public universities have agreed to forgo bonuses this year and raises next year in an effort to cut costs.

Iowa Board of Regents president David Miles made the announcement in a statement released Friday.

Miles says the universities and special schools are reviewing their budgets to reduce spending by 9 percent, or $62 million, in 2009 and 2010.

The group includes University of Iowa President Sally Mason, ISU President Greg Geoffroy, Northern Iowa President Ben Allen and the superintendents at the Iowa School for the Deaf and the Iowa Braille and Sight Saving School.