The Board of Regents unanimously decided through a teleconference Saturday to support the use of state economic emergency funds to avoid further budget reductions this fiscal year.

The Board of Regents used Saturday’s meeting to clarify its position on further reductions to the operating budgets of the Regents institutions. There were some statements in the press around Iowa after the board’s meeting Wednesday, saying it did not support using the “rainy day” funds, said Regent Mary Ellen Becker.

“There was some confusion and debate about the wording in the statement by one of the Regents,” Becker said. “In the end, though, we unanimously decided to support the use of the rainy-day funds in order to avoid further cuts to the Regents institutions.”

In the current fiscal year, the Regents institutions have suffered $69 million in reductions to the operating budget. A total of 682 faculty and staff positions have been eliminated, among cuts in numerous other expenditures.

Tuition at the three Regents universities has also been increased by 19.4 percent for next year.

“The university has supported the use of emergency funds to meet some of the immediate state budget problems all along,” said Warren Madden, vice president for Business and Finance.

Iowa has the fifth highest percent of state funds in an emergency fund, said Regent David Neil.

“Our emergency funds are in really good shape,” he said. “You either take budget cuts or you tap into emergency funds – you can’t have it both ways.”