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. The FY 2025 Restricted Fund budget is based upon revenue and expenditure projections for each of the funds. 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, UI Pharmaceuticals, sports camp activities, 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 externally sponsored activities, predominately research and student financial aid funded from federal and non-federal sources.
Capital
The budget contains $3 million for capital appropriations for the Iowa Lakeside Laboratory for the budget year FY 2025.
Tuition Replacement
The budget contains $12.9 million for Tuition Replacement which has been appropriated to address the FY 2025 debt service on Academic Building Revenue Bond issues.
Regent Innovation Fund
The University 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 the Innovation Fund with matching funds dollar for dollar to:
- To support the development of innovations with commercial potential, pushing more University of Iowa technology to reach the marketplace.
- Build more partnerships between the private sector and the University of Iowa to support workforce development opportunities providing hire-ready UI graduates for high tech jobs in Iowa.
- To provide dry-lab and wet-lab space for researchers, and biomedical and electronics prototyping facilities for medical device and startup development.
- To increase the effectiveness of University of Iowa resources in aiding existing state and regional economic development initiatives.
- To facilitate broader entrepreneurial competence, leadership and support in non-medical areas of expertise on campus.
Iowa Regents Resource Centers
The FY 2025 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
The University received 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.
The University received a new recurring allocation in FY 2025 for the Iowa Geological Survey of $250,000. Funding from the Blufflands Protection Revolving Fund will be used for groundwater planning and assessment activities, including mapping the distribution and water volumes of groundwater and quantifying the groundwater budgets of Iowa’s aquifers. 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.
Strategic Initiatives Fund
The University received approval in 2020 from the Board of Regents, State of Iowa, to enter into a 50-year partnership for management and operations of its utility system with ENGIE North America and Meridiam. This partnership allows the university to invest up to $15 million per fiscal year on projects supporting the UI’s strategic plan and core missions of teaching, research, and scholarship.
The University has awarded the following seven projects for FY 2025 funding:
- Growing Iowa into a Leader in Airborne and Ground-Based Earth Science Measurement Capability, $1,270,700
- The Iowa Health Data Resource (IHDR) – Extending the Impact, $902,890
- A Proposal for Iowa’s AI Journey: First Steps in General AI Support, $784,517
- Iowa’s AI Journey: First Steps in AI Support for Research Scholarly and Creative Activities, $615,000
- High Impact Hiring Initiative, $4 million
- Renovation of Performing Arts Annex for the Department of Dance, $3 million
- Education Infrastructure Project, $2 million
Bond Sales/Master Lease/Debt Service
The Bonds and Loans line includes the following potential bond sales for FY 2025 subject to the refinement of schedules and final approval by the Board:
Bond Financings:
Health Sciences Academic Building $ 40 million
Iowa Memorial Union $ 42.5 million
FY 2025 projected debt service on existing issues is $110 million for bonds, $ 1.8 million for existing notes payable.
Breakdown of Other Income
Other income includes gifts of $135.2 million, non-federal grants and contracts of $92.6 million, and other miscellaneous revenue of $23.8 million.