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Budget Office: Trustees approve FY2015 operating budget

FY2015 operating revenues graphic

FY2015 operating revenues for Illinois State.

The Illinois Board of Higher Education (IBHE) adopted several new policies related to fiscal accountability in higher education in Fiscal Year 2004. One policy calls upon each public university governing board to review and approve an official budget each fall.

On October 24, 2014, the Illinois State Board of Trustees approved the University’s FY2015 budget for operations and grants totaling $425.6 million.

In FY2015, it is expected that revenues for all fund sources will be $425.6 million, which is a 3.2 percent increase over FY2014. This estimate is based on an increase in enrollment as well as tuition and fee rate increases previously approved by the Board of Trustees.

The University continues to allocate its resources to its highest priorities and to support those initiatives that are outlined in its strategic plan, Educating Illinois. Instruction and the support of high quality faculty and staff continue to be the two highest priorities.

FY2016 Operating and Capital Budget request process

Every October, Illinois State is required to submit its appropriated operating budget request and capital appropriation request to the IBHE. At the October 24 meeting, ISU’s Board of Trustees approved these requests: $81.8 million for the FY2016 appropriated operating budget request, and $278.9 million for the capital appropriation request.

Appropriated operating request

The $81.8 million appropriated operating budget request includes support for edTPA, faculty and staff compensation, and deferred maintenance projects.

Capital appropriation request

The capital appropriation request of $278.9 million is intended to fund both major improvement projects, such as the construction of new facilities, and smaller projects, such as remodeling, utilities, or infrastructure improvements.

The capital projects for which funding is requested for FY2016 are instrumental in addressing the goals and priorities articulated in the University’s strategic plan, Educating Illinois, as well as the recommendations in Master Plan 2010-2030: Looking to the Future. No new state funds were appropriated to support University capital projects in FY2015.

Next steps in the budget request process

In December, representatives from the IBHE will visit campus to discuss the fiscal year budget request with University administrators. Next spring, University leaders will travel to Springfield to appear before the Senate and House appropriation committees and meet with individual legislators. In May and June, the Illinois General Assembly, consisting of the Senate and House of Representatives, enacts an appropriation bill that is sent to the governor for his action. The governor may approve the bill as it is presented or reduce the appropriations usually before the beginning of the new fiscal year.

The appropriation bill defines the University’s operating and capital appropriations from the state.

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