The Iowa Board of Regents approved university budgets during Wednesday’s meeting with pushback from a few uncertain members.
The Iowa State University budget for the 2026 fiscal year was approved alongside the University of Iowa and the University of Northern Iowa. Approval members called for individual details when university officials meet later this year.
“Higher education finance is constantly changing,” Regent David Barker said. “I don’t believe the budget accounts for the risk of changes in federal and state funding.”
Barker and Regent Christine Hensley voted against budget approval, both wanting more details. Hensley called for higher oversight before wanting to move forward with the approval process.
Barker and Hensley were both in favor of reviewing the costs at a future meeting with university officials later this year.
“I can’t sit here and say that I’ve done my job,” Hensley said. “I don’t see how any regent can say that because we haven’t had the opportunity to sit down with the CFO’s to have some good in-depth discussion.”
According to the Board of Regents budget reports, Iowa State’s fiscal year 2026 general education budget is projected at around $767 million, with $44.1 million. Indirect cost recoveries also dropped by $2.7 million.
Regents in favor of approving the budget unanimously agreed that later amendments to the budget could be considered, but wanted something passed by the end of the month.
Barker was not in favor of the future problems posed by the Iowa State athletic department budget. According to the budget, the university expects to see around $30 million in “financial repercussions” starting this year.
“I think [Barker’s] comments about risks and sensitivity are absolutely critical and should be addressed,” Regent Kurt Tjaden said.
The board also heard a suggestion from Regent Nancy Dunkel that suggested forming an advisory group to examine budgets.
A motion carried by Regent Robert Cramer was approved by the board and will have the board’s investment finance committee meet next month to further examine the budgets.
“I can go either way on this,” Tjaden said. “I don’t think the numbers are going to change for this year.”
