To: Iowa State University Faculty and Staff
I am writing to update you on Iowa State's budget situation
as a result of the Oct. 7 Revenue Estimating Conference and
Governor Culver's announcement yesterday of a 10 percent
across-the-board cut to all state budgets. Iowa State's
share of that reduction is estimated to be $24.5 million.
In response, Board of Regents President David Miles announced
yesterday an immediate hiring freeze for all general fund
supported positions and a moratorium on all new building
construction projects: http://www.president.iastate.edu/09/miles.pdf.
He has also called an emergency meeting of the Board of Regents
for next Wednesday, Oct. 14, to discuss other measures that may
be implemented to handle this significant budget reduction. We
will defer any budget decisions at Iowa State until after the
Oct. 14 Regents meeting, although everyone should continue to
be extremely conservative with all expenditures until those
decisions are announced.
This latest reduction in our state support means our state
appropriations have been reduced by $62.9 million (22%) since
our initial FY09 appropriations, a very large amount by any
measure. Our state support now stands below the level it was in
FY97, excluding the ARRA federal stimulus funds. The
accumulation of these budget reductions is very severely
reducing our ability to serve our students and Iowans at the
level they expect and deserve. I once again ask for your help
and understanding as we continue the arduous task of reducing
our budgets.
I will keep you well informed of further developments as they
occur.
Greg Geoffroy