In Gov. Terry Branstad's revised state budget recommendations for the fiscal year that begins on July 1, Iowa State would receive $4.5 million less in state support. This is in addition to the $8.9 million in mid-year cuts made to the general university appropriation this winter, which permanently lowered Iowa State's base education appropriation.
The additional reduction includes:
- $1.06 million less in the general university appropriation
- Elimination of Iowa State's economic development appropriation ($2.4 million) in the state's broader Skilled Worker Job Creation Fund
- Elimination of the $3 million Regent Innovation Fund; Iowa State's share is $1.05 million and used primarily for economic development programs
Education appropriations for eight specific Iowa State programs -- such as the Veterinary Diagnostic Lab, Ag Experiment Station and Cooperative Extension -- remain at July 1, 2016, levels in Branstad's budget recommendations. Only the general university appropriation is impacted.
Changes to ISU's general university appropriation
|
FY17 beginning |
$184.4 million |
|
FY17 revised |
$175.4 million |
|
Branstad FY18 revised |
$174.4 million |
Branstad's revised budget recommendations come in response to the March 14 state Revenue Estimating Conference, which lowered the state's general fund revenue estimate for the current fiscal year (FY17).
The Iowa House and Senate released their spending targets for FY18 on April 5, but detailed information has not yet been provided. The House and Senate continue to negotiate toward a final budget using the REC tax revenue estimates and the governor's revised budget recommendations. April 18 is the targeted final day of this session.
"The budget continues to be a fluid process," said chief financial officer Miles Lackey. "We will continue to track the budget as it progresses through the legislative session. As the legislature finalizes spending plans for the coming year, we will manage changes to the budget while serving the best interest of our students, faculty, staff and stakeholders."
Additional updates will be provided as they become available.
Editor's note: This story is an April 7 addition to this edition of Inside Iowa State.
