Budget

Budget Development Information and Schedule

Priorities and Plans

Multiyear priorities are the primary areas and activities that the university plans to invest new, and/or reallocate existing, resources and are intended to guide the university's financial planning process. The priorities that guide the budget development of the upcoming fiscal year are the result of discussions among Senior Budget Leaders and usually finalized in the late Fall or early Winter.

Using the priorities as a basis, each of the university's three divisions develop annual budget plans. The budget plans describe the division's plans for investing in the university priorities. Divisions work on their plans beginning in February and they are finalized in June.

Fiscal Year Development Schedules

The annual operating budget development schedule is driven by both internal planning processes and Board of Regents reporting requirements.

Resource Management Model

Iowa State University utilizes a decentralized financial management model for the development of its annual operating budgets. The Resource Management Model, a responsibility-centered and incentive-driven approach to financial planning and management, is utilized for the development of the university's General University Fund operating budget.

Budget Structures

Budget Organization:

The annual budget includes Legislative and Restricted Funds.

Legislative Funds

Legislative funds include state operating appropriations, federal and state directed appropriations, tuition, indirect cost revenue, and other miscellaneous revenue. These fund sources support instruction, research, financial aid, libraries, student services, all institutional and academic support offices, continuing education, public service and physical plant.

Restricted Funds

Includes expendable restricted and other funds, including funds closely related to education, funds whose use is restricted by terms of the gift, grant, or contract, and funds for units providing service to the institution. Budgets for the following types of activities are included.

• Organized Activities: These are units that provide a service that is closely related and supportive of the education mission.
• Auxiliary Enterprises: These enterprises are self-supporting units whose primary purpose is to provide service to students and staff. Included are the bookstore, residence system operations, utility enterprises, telecommunications, and athletics.
• Independent Operations: The budget for the Ames Laboratory is funded by the U.S. Department of Energy.