Board of Regents Seeks Input on University’s FY 2020 Budget
What and when: University of Minnesota Board of Regents Meeting (Friday, June 14, beginning at 9 a.m.)
Where: Sixth floor, McNamara Alumni Center, 200 Oak St. S.E., Minneapolis
The University of Minnesota Board of Regents will discuss President Eric Kaler’s recommended budget for fiscal year 2020 – which begins July 1 – when it convenes next week. It is also seeking public comment on the budget prior to and following its Friday, June 14 regular meeting (see below).
President Kaler is recommending a budget of approximately $4.1 billion for FY20, which is an increase of roughly 3 percent from the previous year. In terms of function, the largest projected expense categories are instruction, sponsored grants (i.e., primarily research activities) and academic support, all areas that support the world-class education the University strives to provide for its students.
“This budget reflects the most critical priorities for the University, which include delivering affordable, high quality education, increasing efficiency in operations and achieving excellence in all three areas of our mission: instruction, research and outreach,” Kaler said. “Throughout the budgeting process, we remained focused on those top priorities and are recommending strategic investments that allow the University to continue preparing the leaders of tomorrow, giving back to the state, and being careful stewards of our limited resources.”
Specifically, the recommended budget:
- Provides critical base funding increases for the Law School, the Duluth, Crookston and Morris campuses, the Vet Diagnostic Lab, and Extension, among other investments;
- Invests in the University’s most valuable resource – its faculty and staff – by providing a modest 2.25 percent salary pool for merit-based increases; and
- Recommends resident undergraduate tuition increases below the 3 percent increase limit requested by the Minnesota Legislature during the 2019 session.
The Board has announced a special meeting on Wednesday, June 19, during which it is expected to vote on the FY20 budget.
Public Invited to Submit Comments on the Budget
All members of the public are invited to provide input on the proposed budget. Comments can be submitted online at regents.umn.edu.
Comments received by 11:59 p.m. on Sunday, June 16 will be included in the public docket for the Board’s June 19 meeting.
The Board will also hold a public forum as part of its regular June meeting, starting at approximately noon Friday. Twenty-five speakers will be able to address the Board. Speaking slots are available on a first-come, first-serve basis. Sign-up will take place from 11 a.m. to 11:45 a.m. in the West Committee Room (sixth floor, McNamara Alumni Center). Each speaker will have up to three minutes to comment on the proposed budget.
Annual Meeting to Elect New Board Leadership, Set 2019-2020 Meeting Schedule
Prior to its regular meeting on Friday morning, the Board will conduct its annual meeting. During this meeting, the Board will review and vote on meeting dates for the upcoming fiscal year and receive the report of the Board’s Nominating Committee before electing Board officers for the 2019-2021 term. The Board’s officers are chair, vice chair, secretary and treasurer.
The Board is also expected to:
- Witness the oath of office for its four newest Regents, a ceremony that will officially swear into office recently elected Regents Mary Davenport, Kao Ly Ilean Her, Mike Kenyanya and Janie Mayeron. Minnesota Supreme Court Chief Justice Lorie Skjerven Gildea will preside.
- Hear the annual report of the Faculty Consultative Committee, presented by the Committee’s Chair, Dr. Amy Pittenger of the University’s College of Pharmacy.
- Discuss alignment between Board of Regents and Administrative policies.
For more information, including future meeting times once they are set during Friday’s annual meeting, visit regents.umn.edu.