Inside Iowa State

Aug. 12, 2005

Salary, benefits take largest portion of new dollars

by Anne Krapfl

The Board of Regents, State of Iowa, approved an FY06 budget for Iowa State Aug. 4 that includes just over $27 million in new and reallocated funds. FY06 began on July 1.

Salary and benefit increases are the single largest piece -- $12.2 million -- of the additional money. The faculty salaries portion of that is $6.5 million, the P&S portion is $3.2 million, and the merit staff portion is $2.5 million.

The second largest initiative to receive funding is building renovation and operation. Of $3.5 million designated, $2.5 million is a one-time state appropriation that must be used for major building repair, according to the legislation.

These two big-dollar items are among 14 initiatives university leaders identified for funding next year. The 14 respond to top priorities in Iowa State's 2005-10 strategic plan and the Regent Partnership Plan for Transformation and Excellence.

FY06 new and reallocated dollars

Where it came from
New revenues	$17,939,458
--State appropriation, $9,687,693*
--Tuition, $7,649,175
--Other income, $602,590**
Reallocations	$9,153,451
Total	$27,092,909
* $6.07 million increase to the university's base budget; $3.62 million in one-time funds ** Indirect cost recovery, interest income, misc. fees

How it will be spent
-- Achieve competitive salaries for faculty and staff	$12,209,920
-- Increase student success and enhance the quality of undergraduate educational programs	$2,395,088
-- Increase the excellence of graduate, professional and research programs that are, or can be, among the very best	$6,224,793
-- Strengthen Iowa through technology transfer, economic development and enhanced Extension and outreach programs	$625,345
-- Increase administrative efficiency and improve administrative systems, information infrastructure and facilities needed to support the above priorities	$5,637,763
Total	$27,092,909

Iowa State will invest more than $27 million in 14 high-priority initiatives that support the university's new strategic plan and the broader Regent Partnership Plan for Transformation and Excellence.