July 25, 2003
Regents OK general fund operating budget, salaries
by Anne Krapfll
Iowa State's general fund operating budget received approval from the Board
of Regents, State of Iowa, during the July 17 meeting. The operating fund
for this fiscal year of $426.3 million reflects nearly a $7 million
reduction in state appropriations (2.9 percent).
The state reduction will be divided among the general university ($5.5
million), Ag Experiment Station ($897,556), Cooperative Extension
($571,130), Leopold Center ($13,423) and livestock disease research
Increases in tuition and fees are expected to generate $23.9 million in new
revenue. Some of this will be used to offset the lost state funding, as well
as for student financial aid (nearly $7 million), faculty and staff salary
increases ($6.6 million), unavoidable cost increases ($2.5 million) and
strategic initiatives ($2.3 million).
Nearly $10.4 million in internal reallocations will help balance the budget
and be used for new faculty positions, faculty and staff salary increases,
opening new buildings, information technology and Web system improvements
and a chief information officer.
Salary increases for all university employees also received regent approval.
The increases were effective July 1 and will be reflected in the July 31
Faculty and P&S employee average salary increases are higher than the 2 percent
average announced in May. A central allocation from new tuition revenues
and reallocations from other new revenue will cover an average 2 percent
salary increase. Units also had the flexibility to reallocate additional
dollars to supplement the central allocation.
The estimated average salary increase for merit staff is 5.12 percent.
Because the increase is given in two pieces, it is difficult to determine
the average at the beginning of the fiscal year. The increase includes the 2
percent matrix move given on July 1 and the additional increase each
employee receives on his or her anniversary date.
The regents approved a 2 percent salary increase for President Gregory
Geoffroy, bringing his salary from $281,875 to $287,513.
The salary policy for faculty and P&S staff this year is that all salary
increases are based on merit. (Promotion increases should not substitute for
merit increases.) Salary increases will not include a cost of living
consideration. Managers have been encouraged to address equity and market
issues as well as they can with limited funds.
| Employee group
| Sr. administrators*||2.25%|
*president, vice presidents (3), vice provosts (3) and deans (9)
Ames, Iowa 50011, (515) 294-4111
Published by: University Relations,
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