Preliminary Budget Up 3 Percent


Iowa State's general fund operating budget for FY96 is 
expected to be $316 million, a 3.3 percent increase over the 
current year. The Iowa Board of Regents approved the 
preliminary budget last week. Final approval is expected at 
the July 19 regents meeting.

The budget includes $5.1 million in new and reallocated 
funds, which will be directed toward strategic planning, and 
faculty and staff pay increases that are expected to average 
4 percent.

Salary guidelines call for faculty and P&S staff who are 
meeting performance expectations to receive salary increases 
of at least 1.3 percent. Larger raises will be based on merit 
or equity or market considerations.

Merit employees will receive 3 percent pay hikes July 1 and 
subsequent step increases for which they are eligible.

The regents also increased the mileage reimbursement rate for 
ISU employees who do not have access to a university pool car 
to 28 cents per mile (from the previous 24 cents per mile). 
The rate remains at 21 cents per mile if a pool car is 
available. ISU officials had requested that the rate be the 
maximum allowed by the IRS, which currently is 30 cents per 
mile. Officials maintain the current rates don't cover actual 
costs of operating a vehicle and particularly disadvantage 
extension staff who must use their own vehicles for business.

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contact:  Internal Communications, (515) 294-7065
updated:  6-16-95