The Board of Trustees of Illinois State University approved several resolutions at its regular meeting on October 11, 2024. Full text of the resolutions can be found on the Board of Trustees website.
Consent Agenda: All items listed on the Consent Agenda are considered routine and enacted in one motion. Details regarding Consent Agenda items may be found on the website.
Approval of FY2025 Operating Budget
The Board of Trustees approved the University’s annual operating budget of $585.7 million for FY2025. During its May 2024 meeting, the Board authorized expenditures from tentative budget allocations before state appropriations for FY2025 were known.
Approval of FY2026 Appropriated Budget Request: Operating and Capital
The Board of Trustees also approved an FY2026 appropriated operating budget request of $99.8 million and a capital appropriation request of $653.4 million. The requests are based on the University’s strategic plan, Excellence by Design, and will allow the University to address critical statewide goals for higher education. The requests are submitted to the Illinois Board of Higher Education.
Authorization for Consulting Services for Cost of Education and Resource Allocation Agreement
The Board of Trustees authorized the University to enter into a contract with a third-party consulting firm at a total cost not to exceed $1 million. The contract will help create a new and improved budget timeline and shared governance model. The new budgeting process will promote collaboration across units and provide better multiyear financial planning by improving overall understanding of the cost of education, financial management and budgeting to enhance the operating effectiveness and long-term needs of the University.
Authorization of Expenditures for College of Engineering Project Temporary Space
Trustees voted to approve expenditures not to exceed $750,000 for all necessary College of Engineering – Temporary Space Furniture, Lab Equipment, Furnishings and Construction to be prepared for Freshman Engineering Classes in the Fall of 2025 to be held in Williams Hall. The classroom design studios and student support spaces lab equipment and furnishings have already been designed into the permanent home for the College of Engineering and will be
relocated to the new building when it opens in the Fall of 2026. In addition, power and data improvements will be required for the installation of the new lab equipment.
Authorization to Acquire Real Property located at 1709 and 1711 General Electric Road, Bloomington, Illinois
The Board of Trustees voted to purchase the property located at 1709 and 1711 General Electric Road, Bloomington, IL. The west side of the property, 1709 General Electric Road, will serve as the home of the new College of Engineering. Classes will be held in this location beginning Fall 2026. The total purchase, not to exceed $17.5 million plus closing and related costs, will create significant savings and additional space to reimagine the opportunities of the University’s eighth college and overall university operations.
Authorization of Expenditures for College of Engineering Project Pre-Construction Services
Trustees voted to authorize expenditures not to exceed $4.5 million for all necessary College of Engineering – Phase 1 – Pre-Construction Services for a project to plan, design and produce the required documents for the renovation of the property at 1709 GE Road, Bloomington, IL. The pre-construction services are part of the overall projected budget for Phase 1 of $55 million to accommodate up to 520 new engineering students. Phase 2 of the College of Engineering is planned to include the costs of renovating additional space within the property at 1709 GE Road, that could accommodate up to 1,000 students.
Authorization to Issue Certificates of Participation Series 2024
Trustees authorized the execution and delivery of an Acquisition Agreement, an Installment Purchase Contract, an Indenture of Trust, and the issuance of the 2024 Certificates not to exceed an aggregate principal amount of $82 million with a final maturity of no later than April 1, 2054. The funds will help acquire and renovate the identified College of Engineering GE Road property; support additional property renovations of Milner library elevator repairs; replace the Fell Hall roof; Renovate the former fire station on Adelaide Drive; and finance the upgrade and replacement of obsolete academic and student information systems and renovations of other improvements to academic facilities around the campus including animal care facilities, research and sponsored programs, the Milner Library, the Honors Program, Felmley Hall, Family and Consumer Sciences, and the University Farm.
Authorization to Name Dr. John C. and Erma K. Stutzman Faculty Collaboration Suite
Trustees voted to approve the naming the faculty collaboration suite in the Nursing Simulation Center as the Dr. John C. and Erma K. Stutzman Faculty Collaboration Suite. This naming reflects and recognizes the generous estate gift of John and Erma Stutzman for the new nursing building.
