Restricted Funds

Budget Narrative

The Budget Narrative is a written summary of revenue sources and expenditures for the budget year by fund group. The report also includes rationale behind the assumptions made when formulating the budget line items.  The narrative is provided annually to the Board of Regents.

Budget Comparison

Revenues
  FY 2022 Budget FY 2023 Budget % Change
State Appropriations      
  Other (Innovation) 1,050,000 1,050,000 0.00%
  Other (Resource Ctrs.) 268,297 268,297 0.00%
  Other (Ia Geological Survey) 695,000 695,000 0.00%
  Other (Tuition Replacement) 15,132,740 15,009,882 -0.81%
Federal Support 335,421,000 309,567,615 -7.71%
Intra State Receipts 86,876,143 181,449,781 108.86%
Interest 36,063,000 37,791,433 4.79%
Bonds & Loans 80,000,000 50,000,000 -37.50%
Tuition and Fees 70,769,000 77,865,220 10.03%
Reimbursed Indirect Costs 23,695,000 28,333,536 19.58%
Sales and Services 877,783,000 1,035,748,994 18.00%
Other Income 200,807,000 214,646,184 6.89%
Total Revenues 1,728,560,180 1,952,425,942 12.95%
Expenditures - Salaries and Benefits
  FY 2022 Budget FY 2023 Budget % Change
Fac. & Inst. Off. Salaries 409,270,000 428,777,383 4.77%
Prof. & Scientific Salaries 363,552,000 404,165,103 11.17%
General Services Salaries 48,636,000 51,951,567 6.82%
Hourly Wages 29,428,000 28,739,031 -2.34%
Total Salaries and Benefits 850,886,000 913,633,084 7.37%
Other Expenditures
  FY 2022 Budget FY 2023 Budget % Change
Supplies and Services 441,707,000 600,551,020 35.96%
Library Acquisition 139,000 118,000 -15.11%
Rentals 10,323,000 7,582,384 -26.55%
Utilities 12,443,000 13,173,953 5.87%
Building Repairs 14,395,000 10,557,973 -26.66%
Equipment 59,810,000 80,363,379 34.36%
Student Aid 113,529,000 99,949,743 -11.96%
Debt Service 94,358,180 102,888,316 9.04%
Plant Capital 130,970,000 123,608,090 -5.62%
Total Other Expenditures 877,674,180 1,038,792,858 18.36%
Total Expenditures 1,728,560,180 1,952,425,942 12.95%