How is the Regent enterprise funded?
The Regent enterprise is Iowa's most powerful and comprehensive resource for educational opportunities and economic growth. The Regent universities annually enroll more than 70,000 students on their campuses; employ nearly 49,000 people, including full-time and part-time employees and students; engage in extensive research and technology transfer projects; provide Iowans with diverse cultural, recreational, athletic, and entertainment activities; and operate a nationally renowned teaching hospital.
The current FY 2027 Regent enterprise budget, as approved by the Board in July 2026, is nearly $9.4 billion. Of that amount, $1.9 billion is general operating funds for the educational missions of the universities.
Of the $1.9 billion in general operating revenue, 65.9% comes from tuition and fees and 29.1% comes from state appropriations. The balance of the operating revenues is comprised of federal funds, interest income, reimbursed indirect costs associated with grant-funded research, and sales and services.
The $3.9 billion in restricted funds are specifically designated or restricted for a particular purpose or enterprise and include capital and tuition replacement appropriations, gifts, sponsored funding from federal and private sources, athletics, as well as other auxiliary or independent functions such as residence, parking and utility systems.
| School | Operating Budget | Restricted Budget | Total |
|---|---|---|---|
| University of Iowa | $4,417.6* | $2,753.9 | $7,171.5 |
| Iowa State University | 844.5 | 961.6 | 1,806.1 |
| University of Northern Iowa | 171.4 | 177.1 | 348.5 |
| Total | $5,433.5 | $3,892.6 | $9,326.1 |
* Includes $3.52 billion for University of Iowa Health Care, Psychiatric Hospital, Center for Disabilities and Development, and Specialized Child Health Services.