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Aug. 12, 2005 Salary, benefits take largest portion of new dollarsby 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
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SummaryIowa 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. |