Budget Update - September 2022

Greetings, Colleagues,

I hope this message finds you well as we head into week four of Fall term. I’d like to take this opportunity to share some important updates from the Budget Office.

Budget Model

Our Budget Model Advisory Group has been working throughout the year to develop recommendations for a new comprehensive budget model for the university. We are currently meeting with Deans, Directors, Faculty, and Staff to review and gather feedback on building blocks and hypothetical frameworks for the model. 

We will continue this outreach and engagement through October, with the goal of presenting preliminary recommendations to Leadership Council in November.

We will host two Budget Model Town Hall meetings in October for all interested faculty and staff. During these meetings we will present our current working drafts and solicit additional feedback, suggestions, and questions. These meetings will be recorded for those unable to attend in person.

Budget Model Town Halls

Tuesday, October 4

3 - 4:30 p.m.

Zoom

Passcode: 768107

Friday, October 7

1 - 2:30 p.m.

Zoom

Passcode: 108537

Information about the model can be found on our budget website. We have also created a Budget Model Feedback Form in an effort to capture additional thoughts and feedback. Please feel free to use this form to pose questions, share ideas, voice concerns, and other feedback for our Budget Model Advisory Group.

Fiscal Year 2023 Budget Outlook

Our Fiscal Year 2023 Budget Book is now available online. Our budget was developed with the following key planning assumptions:

• 2% overall enrollment increase, aligned with our Strategic Enrollment Management Plan
• Pre-COVID service and activity levels
• 50/50 salary split on general appropriations
• 5% CEC and fringe rate increases
• Modest increases in student activity fees, graduate tuition, non-resident tuition, and professional fees

We will provide an update later in Fall term as to how we are tracking budgetarily for the year.

State Funding

Idaho State, along with the other colleges and universities, received one-time deferred maintenance funding in fiscal year 2023. This $40 million in funding for ISU will help us address essential deferred maintenance needs, which currently exceed $250 million. Our Facilities Services team is currently working with State and DPW staff to begin work on these projects.

Last week, House Bill 1 was signed into law by Governor Little. This legislation provides both one-time and ongoing income tax relief and commits $410 million in ongoing support for Idaho education to offset historic inflation. Approximately $80 million of the $410 million in education funding is designated for high-demand workforce initiatives at colleges and universities. The details of how this funding will be allocated are yet to be determined.

Looking forward to fiscal year 2024, ISU collaborated with the other Idaho colleges and universities to develop joint line items designed to increase systemwide capacity in health care, cybersecurity, student retention and degree completion, and nuclear. We look forward to making a case for investment in these programs and initiatives in the upcoming legislative session.

Best regards for a fabulous fall.

––Jen

Jennifer Steele

Senior Associate Vice President/CFO

This communication was sent to Idaho State University faculty and staff.

Send comments, feedback, and questions to communications@isu.edu.