Regents Nancy Boettger, Milt Dakovich, Rachael Johnson and Larry Mckibben (left to right) listen to the Investment and Cash Management Report for the quarter. The Board of Regents held a meeting Feb. 27 in the Reiman Ballroom at the Alumni Center to hear from the property and facilities committee, the investment and finance committee, the academic affairs committee, campus and student affairs committee, audit and compliance committee and University of Iowa hospitals and clinics committee.

The Board of Regents will meet April 18, but a first reading of 2019-20 tuition rates is not currently on the meeting agenda due to a lack of certainty regarding the state budget.

Should uncertainty about the state budget continue, the Board of Regents will hold a special meeting later in April or May for a first reading of 2019-2020 tuition rates. If the state budget fully funds the Board of Regents’ request for $18 million of additional funding, then base resident tuition rates will increase by three percent. However, if the state budget does not fully fund or only partially funds the request, then base resident tuition rates will increase to a range of 3 to 5 percent.

The Board of Regents made this request for additional funding in September 2018 and announced the aforementioned tuition rate increases in November.

The Iowa House passed a bill partially funding the Board of Regents’ request, providing a boost of $15.9 million. The governor’s budget recommendation had included the full $18 million.

The Iowa Senate has separate funding legislation moving through it, which includes funding for education that is $14 million less than the House bill, amounting to $947 million and $961 million, respectively. The two chambers will have to resolve differences in funding in order for this spending bill to be signed into law by Gov. Kim Reynolds.

John McCarroll, executive director of university relations at Iowa State said he had no comment on the legislation at this time but would once legislation has been passed by both houses and signed by the governor.

The Board of Regents continues to anticipate a final approval of tuition rates during its June 4-6 meeting.

“We need more information about the state budget and what the Regents' appropriation will be to determine our tuition rates,” Board of Regents President Michael Richards said. “We want predictability for our students, and once we have enough information we will set tuition rates.”

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