The Board of Regents, State of Iowa, is expected to vote at its meeting in September on its Fiscal Year 2021 funding request from the Iowa Legislature.
The Board is seeking a $7 million increase for the University of Iowa, or about 3% more than the $218.7 million it received in FY20.
Check out this video to learn more about the university’s budget.
State funding and tuition are the two primary sources of revenue supporting student services, financial aid, faculty and staff salaries, and facility maintenance. State support for construction projects is considered separately from general operating dollars and is largely funded with gambling revenue.
It is not uncommon for the legislature to approve less than requested by the Board of Regents. For instance, in FY20 the Board sought a $7 million increase in state funding for the UI but the university received a $4 million increase.
When indexed for inflation, the UI currently spends about the same amount per student as it did 20 years ago; however, overall state support for the university has declined such that tuition dollars now account for two-thirds of the UI’s General Education Fund. In 2001, the reverse was true—state appropriations accounted for two-thirds of the UI’s General Education Fund.
The Board of Regents will meet Sept. 18–19 at the Iowa School for the Deaf in Council Bluffs, Iowa.