7-23-97
Contact:
John McCarroll, University Relations, (515) 294-6136
REGENTS APPROVE NEW BUDGET FOR ISU
AMES, Iowa -- Iowa State University's fiscal year 1998 final operating budget will be $664.8 million, which is a $12 million, or 1.8 percent increase over fiscal year 1997.
The new operating budget was approved Wednesday (July 23) by the Iowa State Board of Regents. Overall, state lawmakers have invested $42 million in new funds for Iowa State, including more than $30 million for capital projects.
"The outstanding support we've received from the Iowa legislature and the regents is strong vote of confidence for the kind of work we are doing, for the special mission of Iowa State and for the importance of higher education to our state," said ISU President Martin Jischke.
Following are selected highlights of Iowa State's FY98 budget.
- $10 million in salary increases to Iowa State. Maintaining
competitive salaries is one of the university's highest budget
priorities, said Jischke.
"To provide a top-notch education to our students, to enhance our strong reputation in research and to give excellent service to Iowans and others, we simply must be competitive enough to attract and retain our first-rate faculty and staff," he said.
Some salary money this year was specifically targeted to bringing salaries to competitive levels for some computer professionals, faculty in the College of Business and humanities faculty in the College of Liberal Arts and Sciences, Jischke said.
- $20.9 million for phase 2 construction of the Engineering Teaching and Research Facility and $1 million for reengineering engineering education, a project that will involve new learning methods, coop and internship programs for all students, and business and college partnerships.
- $6 million for initiatives aimed at improving undergraduate education, a top goal of ISU's strategic plan. Half of those funds (about $3 million) are for student aid.
- Approximately $475,000 in additional funding was earmarked for library acquisitions.
- $9.l27 million for livestock research facilities at the College of Veterinary Medicine.
- $400,000 appropriation for Iowa State research and demonstration projects involving odor control in livestock production. Lawmakers already had provided a "one-time" $400,000 appropriation for the current year.
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Revised
7/23/97