In 2015, IU received $184,795,242, and in 2016 this will increase by $5,954,944 and in 2017 by an additional $5,164,373, bringing IU’s total budget from state appropriation up to $195,914,559.
Associate Vice President of Public Affairs Mark Land said in an email it’s important to note this isn’t IU’s overall revenue stream and that the rest comes from tuition, fees, donations and research grants.
Not only did IU Bloomington’s state funding increase, but all seven of IU’s campuses received budget increases, which combined to account for a 2.8-percent budget increase.
The reasoning for the increases is IU meeting state-set performance metrics standards, according to an IU press release.
Although IU Bloomington received the most money, IU-East has the highest percent change in funding. With IU East’s budget increasing by $751,851 in 2016 and $553,391 in 2017, it will experience a 14.5-percent state budget increase ?overall.
Second to IU Bloomington in budget increases is IUPUI, which will receive an additional $3,568,747 in 2016 and $2,993,551 in 2017 for an overall budget increase of 6.8 ?percent.
The smallest two-year budget increase was ?appropriated to IU-Southeast with an increase of 1.9 ?percent.
“IU’s total budget for next fiscal year won’t be finalized until late next month in time for the new fiscal year, which starts July 1,” Land said in an email. “So I can’t yet tell you how we intend to spend money next year compared to this year. We will also be announcing tuition rates for the next two years ?next month.”
In addition to state operation budget increases, the state also gave IU more than $100 million in new capital for repairs and renovations, according to the release.
Of the $100 million, $48.5 million was given for IU to issue bonds to cover renovation for the Old Crescent portion of the IU Bloomington campus, according to the release. This portion of renovations will focus on Swain, Kirkwood and Ernie ?Pyle halls.
This project, as well as already funded renovations to Franklin Hall, is part of an effort to return the Old ?Crescent to the academic center of campus, according to the release.
Another $37.2 million of the more than $100 million received for repairs and renovations will go toward all seven IU campuses, according to the release. This money will be appropriated during the next two years.
Finally, during the next two years the state will give $19.2 million to help create a new academic health science complex in downtown Evansville, according to the release.
This $19.2 million is out of a total $25.2 million in state appropriations dedicated to funding the health center project.
“We are deeply appreciative of the support the General Assembly has given to higher education in general, and specifically to Indiana University,” IU President Michael McRobbie said in the release. “The University shares the state’s vision of graduating more Hoosiers and doing so in a way that lessens the financial ?burden of attaining a college degree to the greatest extent ?possible.”
