Board of Regents to discuss framework for fiscal year 2019 budget

February 2, 2018
University seal

What: University of Minnesota Board of Regents meeting
When: Thursday, February 8 and Friday, February 9, 2018
Where: Sixth floor, McNamara Alumni Center, 200 Oak St. S.E., Minneapolis

In its first meeting of 2018, the University of Minnesota’s Board of Regents will discuss the framework for the University’s fiscal year 2019 budget, reviewing the many variables that impact budget planning. In addition, the Board is expected to take action on a resolution to enhance diversity initiatives on the Twin Cities campus as well as hear an update on the Campus Climate initiative on the Twin Cities campus.
 
The discussion of the University’s budget builds on conversations from the October and December Board meetings. This discussion will involve a set of financial assumptions regarding changes in revenues and expenditures in the coming year. University administration will focus their discussion with the Board on two potential areas: 1) Maintaining the core mission of the University and 2) Expanding and enhancing programs and services.

Conversation is expected to focus on state appropriation and tuition revenue—the most significant unrestricted funds available to support the University’s core missions. For fiscal year 2019, state appropriations to the University of Minnesota will not increase. In fact, there will be a $10 million decrease compared to the current year’s appropriation. The Board will also discuss implications related to declining state funding in future years.

February’s meeting will be the final committee discussion on the fiscal year 2019 budget variables before the Board reviews the President’s Recommended Operating Budget at its May meeting.
 
Diversity and Campus Climate on the Twin Cities campus

The Board is expected to take action on a Resolution Related to Diversity in Twin Cities Undergraduate Enrollment. The resolution, which the Board reviewed at its December 2017 meeting, addresses goals on the Twin Cities campus to enhance recruitment efforts; retention and graduation rate metrics; and student satisfaction survey results for African American, Latinx and American Indian students.

Following that conversation, the Board will hear an update on the Twin Cities Campus Climate initiative—the University’s ongoing efforts to create and maintain an environment in which all members of the campus community feel welcome, respected and valued.

The Board is also expected to:

  • Hear the annual report on employee compensation and discuss ongoing efforts by the University to move compensation from a budget-only conversation to one that includes a strategic conversation about compensation and how it can be an effective tool in recruiting and retaining faculty and staff.
  • Continue conversations on the University’s Institutional Risk Profile. In February, the Board will focus on the prioritization of risks across the University system before discussing mitigation strategies.
  • Discuss systemwide enrollment planning. The discussion will address historic and current enrollment trends at the Crookston campus, efforts to enhance recruitment and retention at that campus, as well as strategic visioning that aligns with the Systemwide Strategic Plan and the Systemwide Enrollment Management Plan.

Committee meetings begin at 7:45 a.m. on Thursday, February 8. Committee work continues Friday, February 9 at 7:45 a.m., followed by the full Board meeting expected to begin at approximately 9:30 a.m. For more information, including meeting times and locations, visit the Board of Regents website at Regents.umn.edu.

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