Redrawn Regent budgets ready for meeting
July 18, 2005
Iowa State uses of new revenue and reallocations under the $80 million Transformation Plan
Achieve competitive Salaries for Faculty and Staff – $12.2 million
Renovate and maintain academic facilities – $3.5 million
Strengthen research in high impact interdisciplinary areas – $2.2 million
Strengthen the reputation of top university programs – $1.5 million
Improve professional veterinary medicine education – $1.4 million
Improve university electronic information infrastructure – $1.3 million
Improve undergraduate programs and instruction – $1 million
Recruit top graduate and professional students – $.99 million
Increase administrative efficiency – $.73 million
Support undergraduates with increased financial aid – $.71 million
Improve undergraduate academic success – $.62 million
Improve Iowa’s air and water quality – $.25 million
Support Iowa’s youth – $.18 million
Support Iowa’s economic development infrastructure – $.18 million
Total – $27 million
–Compiled by Eric Lund from Regent documents
Regent university budgets, including $25 million in reallocations for the Iowa Board of Regents’ Transformation Plan, are now in place and planned to be voted on at the Regents’ August meeting in Davenport.
Iowa State University, University of Northern Iowa and the University of Iowa reallocated $25 million to strategic initiatives in the $80 million funding plan designed to focus spending on competitive salaries and other important areas.
Although the institutions were originally planned to reallocate $20 million for strategic initiatives in the Transformation Plan, they were able to find another $5 million after receiving state money for building maintenance and repair.
Mark Chidister, assistant to the president for budget planning and analysis, said the increase came after the Iowa legislature gave the universities $6.25 million from an infrastructure fund.
“The stipulation was that money has to be spent on deferred maintenance and building repair,” he said. “The increase in the reallocation was a result of that replacement, where the money we would have spent on building repair was reallocated.”
Chidister said that under the plan Iowa State reallocated $9.15 million to 14 different spending areas, many of which should also receive additional money from legislative funding and next year’s 4 percent tuition increase. Tom Hill, vice president for student affairs, said ISU President Gregory Geoffroy set the funding priorities.
Barb Boose, communications specialist for the Board of Regents, said the Transformation Plan is in effect for the next four years, and went into effect for the 2006 fiscal year, which began July 1. She said it focuses on making Iowa universities — which currently offer some of the lowest pay in the nation — competitive in terms of attracting faculty. The plan focuses on improving academics through 3 to 5 percent tuition increases and legislative funding.
Although the Board is scheduled to consider final university budgets and reallocations at its Aug. 3 and 4 meeting in Davenport, Chidister said few changes are expected.
