Iowa Board of Regents

July 31, 2024 Meeting Recap

The Iowa Board of Regents met virtually July 31, 2024, originating at the Board Office in Urbandale. 

The Board passed a $7.8 billion FY 2025 Budget for the institutions, the Board Office and the Iowa Lakeside Laboratory. Of the $7.8 billion budget, more than $3.24 billion is restricted. Restricted funds are specifically designated for a particular purpose and cannot be used in any other way. These funds include capital and tuition replacement appropriations, gifts, plant funds, sponsored funding from federal and private sources and athletics as well as other auxiliary or independent functions such as residence, parking and utility systems. Another $2.77 billion is represented by UI Health Care’s operating budget. 

The rest, $1.72 billion, is included in the General University Operating Funds, which include operational appropriations, interest income, tuition revenue, reimbursed indirect costs, and income generated from sales and services. These dollars represent the bulk of the universities’ day-to-day costs and the costs of instruction.

UNI President Mark Nook, ISU President Wendy Wintersteen and UI President Barbara Wilson presented slides on their respective Universities’ FY 2025 budgets. All three noted the 2.5% increase to the General University Operating Funds and spent time discussing how their institutions would put those new dollars to work. 

Watch their presentations:

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