U of M President Kaler's recommended FY14 budget, including tuition freeze and new research investments, to be reviewed by Board of Regents June 5
President’s presentation to be followed by public forum
May 31, 2013
What: University of Minnesota Board of Regents special meeting and public forum
When: 11 a.m. – noon (presentation); 12:30 – 1:30 p.m. (public forum), Wednesday, June 5, 2013
Where: 600 McNamara Alumni Center, 200 Oak St. S.E., Minneapolis
For media only:
What: Media briefing to provide overview of proposed FY14 operating budget
Who: University of Minnesota Vice President and CFO Richard Pfutzenreuter; Associate VP for Budget and Finance Julie Tonneson
When: 9:30 – 10:30 a.m., Tuesday, June 4, 2013
Where: Room 238A, Morrill Hall, 100 Church St. S.E., Minneapolis
On Wednesday, June 5, University of Minnesota President Eric Kaler will present his recommended annual operating budget for fiscal year 2014, which includes the first tuition freeze for resident undergraduate students in at least a generation.
Following Kaler’s presentation to the University of Minnesota Board of Regents, a public forum on the budget will be held from 12:30 to 1:30 p.m. in the Regents Boardroom, located on the sixth floor of the McNamara Alumni Center, 200 Oak Street S.E., Minneapolis.
The proposed FY14 budget builds on Kaler’s first biennial budget request to the state, which prioritized stabilizing tuition for resident undergraduate students and investing in critical research and innovation to advance Minnesota industry and the economy. Because of support and leadership from Governor Mark Dayton, Speaker Paul Thissen, Senate Majority Leader Tom Bakk, Higher Education Committee Chairs Senator Terri Bonoff and Representative Gene Pelowski, and other lawmakers, the state’s investment amounted to 86 percent of the University’s total request, the first realized increase in state support in six years.
This is the first operating budget of Kaler’s tenure and it reflects his priorities: A commitment to ensuring excellence in teaching, research and outreach, and affordable education at a world-class public research university that is operated efficiently and effectively. In addition to holding undergraduate tuition flat, in virtually all programs, this budget includes the lowest graduate and professional tuition increases in many years. It also constrains all collegiate and other student fees.
Pending Board of Regents approval, the FY14 operating budget leverages a renewed investment by the state in the University to achieve shared goals:
- Freeze tuition for Minnesota undergraduate residents for two years, the cornerstone of Kaler’s biennial budget request;
- Invest in critical research that will enhance the state’s economy and improve the health and well being of Minnesotans;
- Reallocate funds to benefit students and the University’s core academic mission;
- Invest in the human capital behind the University’s teaching, research, outreach and physical infrastructure.
The public forum is held so that Regents may gain an understanding of the views and concerns of University constituents, including the general public, regarding the proposed budget. The forum will be streamed live via UMConnect at www.regents.umn.edu.
While registration slots for the public forum are full, constituents may continue to submit written testimony to the Board until Thursday, June 6. Written comments may be sent to firstname.lastname@example.org or 600 McNamara Alumni Center, 200 Oak St. S.E., Minneapolis, MN 55445.
The Board’s Finance Committee also will conduct an in-depth review of the proposed budget during its committee meeting June 13. The full Board of Regents will take action on the FY14 operating budget at its meeting June 14. For more information, including the full proposed budget document, see the June docket online at www.regents.umn.edu.