The Illinois State University Board of Trustees met Friday, October 23, in the Bone Student Center Old Main Room. Actions items included:
Approval of FY2016 operating budget
Illinois State University’s Board of Trustees approved an FY2016 operating budget of $422,246,900, which reflects a $7.4 million (10 percent) reduction in state appropriations compared to FY2015. The resolution passed by Board members stipulates that if state appropriations cuts are greater than $7.4 million, the University’s operating budget will be reduced by a corresponding amount.
In the face of ongoing state budget uncertainty, Illinois State University developed contingency plans to manage reductions to its FY2016 state appropriations ranging from 10 percent to 31 percent compared to the previous year’s appropriation. Under Illinois Board of Higher Education policies, Trustees were required to approve an operating budget even though the State of Illinois has not acted on an appropriations bill to fund higher education.
The approved operating budget consists of money from state appropriated funds, tuition and fees, bond revenue, grants, contracts, and other funding sources.
Approval of FY2017 funding requests
The Board of Trustees approved an FY2017 appropriated operating budget request of $79.6 million and a capital appropriation request of $286.4 million.
The requests are based on the University’s strategic plan, Educating Illinois 2013-2018, and will allow the University to address critical statewide goals for higher education. The operations request of $79.6 million is $7.4 million (10.3 percent) more than last year’s state appropriation of $72.2 million.
The projects include the Milner Library rehabilitation, a new Mennonite College of Nursing building, rehabilitation of the College of Education facilities, and renovation of Williams Hall renovation.
Campus improvements approved
The Board authorized projects to expand facilities at the Watterson Commons Dining Center, enhance chilled water capacity on campus, and upgrade mechanical equipment in Old Union.
Alumni Center lease renewal
The Board approved a lease renewal for the University’s Alumni Center, located at 1101 N. Main St. in Normal. The lease agreement with Launching Futures, LLC is set for five years at an annual cost of $230,004. The agreement includes the option to renew for an additional five years at that annual lease rate.
Starbucks license approved
The Board approved a license agreement with the Starbucks Corporation which allows the University to build, own, and operate a Starbucks store in the Student Fitness Center. Board members approved $2.6 million for the 10-year agreement, which begins July 1, 2016 and runs through June 30, 2026. Funding comes from Campus Dining reserves.
Learning space naming
Board members also gave their approval to the naming of DeGarmo Hall, room 52 as The Richard L. Benson Flexible Learning Space. The room is named for Benson, an Illinois State alumnus with a long career in K-12 and higher education.
Find more details on all projects at the Media Relations site.
