This two-year budget was signed into law by Gov. Mike Pence today and was approved by the Indiana General Assembly last week.
IU-Bloomington received the largest appropriation of $190.8 million among the University’s seven ?campuses.
This is a 3.2-percent increase from the current fiscal year.
“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 a press 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.”
The budget increases for IU reflect the University’s work to meet performance metrics established by the state that are designed to help increase college attainment levels, according to the release.
All seven IU-administered campuses received funding increases from the state in the 2016 fiscal year, ranging from 0.7 percent at IU-Southeast to 8.4 percent at IU-East in Richmond.
In addition to the operating appropriations, IU received over $100 million in new capital and repair and renovation projects.
IU was granted approval to issue $48.5 million in bonds to cover the second phase of renovation for the Old Crescent portion of the IU Bloomington campus.
This phase of the project will allow for the renovation of three major facilities on campus: Swain, Kirkwood and Ernie Pyle Halls.
Another $37.2 million was appropriated over the next two years to help the University pay for repairs, renovations and deferred maintenance at facilities across all seven campuses.
Tori Lawhorn
