Restricted Funds Budget Narrative

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 2023 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. 


There are no new capital appropriations for the University of Iowa for the budget year FY2023.

Tuition Replacement

The budget contains $15 million for Tuition Replacement which has been appropriated to address the FY 2023 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.
  1. Build effective partnerships for economic development between the private sector and the University of Iowa.
  1. To provide dry-lab and wet-lab space for researchers, and biomedical and electronics prototyping facilities for medical device and startup development.
  1. To increase the effectiveness of University of Iowa resources in aiding existing state and regional economic development initiatives.
  1. 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 2023 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 FY 2023 budget includes a recurring allocation for the Iowa Geological Survey of $0.7 million.  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. 

Strategic Initiatives Fund

The University received approval 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. The UI is one of the first universities in the country to engage in a utility public-private partnership (P3).  This partnership will allow the university to invest up to $15 million per fiscal year via grants dedicated to supporting the UI’s strategic plan and core missions of teaching, research, and scholarship.

The University has awarded the following eight interdisciplinary projects for FY 2023 funding:

Pathways to Success: Ensuring High Quality Career Development for Every Hawkeye: This project, sponsored by the Pomerantz Career Center in collaboration with the Center for Inclusive Academic Excellence, the Office of Student Financial Aid, Academic Support and Retention, and others, will enable the development of a technological solution for engaging students in ongoing and personalized career development, including career advice and career planning assistance. Approved funding: $407,040 over three years

External Job Placement Services for Partners of Recruited Faculty and Select Senior-Level StaffThis project, sponsored by University Human Resources, will contribute to recruitment and retention of faculty and staff who support the university’s strategic initiatives. Approved funding: $315,000 over three years

Midwest FLASH Lab: Developing Next-Generation Radiotherapy Delivery and Expertise at the UI: This interdisciplinary project, sponsored by the Carver College of Medicine in collaboration with the College of Liberal Arts and Sciences (CLAS) and College of Engineering, will establish the Midwest FLASH Lab, which will make the UI a destination for ultra-high dose-rate radiation therapy (FLASH) science and training in the U.S. Approved funding: $3 million over three years

High Impact Hiring Initiative: A program to Strategically Recruit and Retain Talented FacultyThis project, sponsored by all 13 colleges and academic units, will continue a program launched in March 2021 that provided funds toward the strategic hiring and retention of high-performing faculty across several colleges. To date, the success of the program has had measurable impact across all strategic priority areas of the university. Approved funding: $7.5  million over two years

Higher Education Mental Health: This project, sponsored by the College of Education in collaboration with CLAS, the Division of Student Life, and Office of the Provost, will develop a comprehensive program to address mental health issues for students, faculty, and staff in order to decrease levels of distress and facilitate success. Approved funding: $700,000 over three years

Support for Mid-Career Faculty: This project, sponsored by the Office of the Provost, CLAS, Carver College of Medicine, and the Office of the Vice President for Research, will provide select tenured associate professors with tailored career development support to propel them toward promotion to full professor. Approved funding: $2 million over three years

Excellence in Teaching and Learning: Development of a Set of Effective Strategies for Course Curriculum InnovationThis project, sponsored by the Office of the Provost, will build on the success of the Hawkeye Introductory Course project, which was initially funded during Year 0 and led by Cornelia Lang (CLAS), to help students across all undergraduate colleges complete the courses they need to persist in their education and graduate. Approved funding: $477,960 over two years

Redox Regulation of Immunological Responses During Cancer Therapy Using Novel Redox Active Molecule Approaches that Both Enhance Anti-Tumor Immune Responses and Limit Normal Tissue InjuryThis project, sponsored by the Graduate College in collaboration with the College of Public Health, CLAS, and the Carver College of Medicine, will enable the development of a new National Cancer Institute grant in early-stage lung cancer treatment and a clinical trial to examine the impact of pharmacological ascorbate combined with immunotherapy for the first time. Approved funding:  $600,000 over two years

Bond Sales/Master Lease/Debt Service

The Bonds and Loans line includes the following potential bond sales for FY 2023 subject to the refinement of schedules and final approval by the Board:

Bond Financings:

Parking                                                        $ 50 million

FY 2023 projected debt service on existing issues is $99.7 million for bonds, $ 3.2 million for existing notes payable. 

Breakdown of Other Income

Other income includes gifts of $107.4 million, non-federal grants and contracts of $83.2 million, and other miscellaneous revenue of $24 million.