Restricted Funds Budget Narrative

The FY 2021 Restricted Fund budget is based upon revenue and expenditure projections for each of the funds.  The Restricted Fund includes the Organized Activities Fund, the Auxiliary Enterprise Fund, the Current Restricted Fund and the Plant Fund and involves virtually every department on campus in revenue and expenditure planning.  Revenues are derived from federal and non-federal support for sponsored programs, sales and services, reimbursed indirect costs, tuition and fees, bond proceeds, transfers from current unrestricted funds, and appropriations.  The expenditure plan provides for salary adjustments, meets certain non-discretionary cost increases, reflects the University’s best efforts at planning to meet its most critical needs, and provides essential services within the limits of available resources.

The Organized Activities Fund includes Medicine and Dentistry Practice Plan funds, sports camp activities, Conferences and Institute and mandatory fees (partial).  It also includes various tuition and program specific fees, publications, and workshops related to academic departments. 

The Auxiliary Enterprise Fund includes Intercollegiate Athletics, University Residence System, Iowa Memorial Union operations, Student Health, Recreational Services, Hancher Auditorium, Parking and Transportation, Cambus, and various smaller enterprises serving faculty, staff, students and the public.

The Current Restricted Fund includes sponsored activities, predominately research and student financial aid funded from federal and non-federal sources. 


There are no new capital appropriations for the University of Iowa for the budget year FY2021.

Tuition Replacement

The budget contains $15.1 million for Tuition Replacement which has been appropriated to address the FY 2021 debt service on Academic Building Revenue Bond issues.

Innovation Fund

The University of Iowa received a recurring allocation of $1.05 million from the Skilled Worker and Job Creation Fund for the development of technology commercialization, marketing and business development efforts in areas related to technology commercialization, entrepreneurship, and business growth. 

The University will leverage these funds from the Innovation Fund with matching funds dollar for dollar to:

  1. To support the development of innovations with commercial potential, with the result that more University of Iowa technology reaches the marketplace.
  2. Build effective partnerships for economic development between the private sector and the University of Iowa.
  3. To provide dry-lab and wet-lab space for researchers, and biomedical and electronics prototyping facilities for medical device and startup development.
  4. To increase the effectiveness of University of Iowa resources in aiding existing state and regional economic development initiatives..
  5. To facilitate the economic development of two specific clusters identified by TEConomy on behalf of the state: Ed tech and Med device.

Iowa Regents Resource Centers

The FY 2021 budget includes approximately $0.3 million for the Iowa Regents Resource Centers.  These Centers serve the educational needs of students in western Iowa and the Quad-Cities.  The Centers are part of the Regent Enterprise and include the University of Iowa, Iowa State University, and the University of Northern Iowa.

Iowa Geological Survey

A recurring allocation for the Iowa Geological Survey of $695,000.  Funding from the Environment First Fund will be used for operations and water resource management and will help provide Iowans with the knowledge to manage effectively natural resources for long-term sustainability and economic development.  The appropriation, along with additional grant funding from other sponsors, will provide support for staff, researchers, and students who dedicate their time to the mission and work of the Iowa Geological Survey. 

Bond Sales/Master Lease/Debt Service

The Bonds and Loans line includes the following potential bond sales for FY 2021 subject to the refinement of schedules and final approval by the Board:

Bond Financings:
  • UI Hospitals and Clinics           $ 150.0 million

In addition to FY 2021 projected debt service on existing issues ($93.7 million for bonds, $ 1.3 million for existing notes payable, $ 1.9 million for existing capital lease payable.

Breakdown of Other Income

Other income includes non-federal gifts, grants and contracts of $170.1 million, commissions and royalties of $5.6 million, parking and other fines of $1 million, and Other Miscellaneous Revenue of $22.9 million.