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.
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.
Senior Associate Vice President/CFO