Iowa State University's Strategic Plan for 1995-2000 is based on the following revenue assumptions.
-- Tuition revenues will remain constant in real dollars; tuition increases will be at the rate of inflation and ISU's enrollment of approximately 25,000 students will be maintained through aggressive recruitment and retention efforts.
-- Increases in state appropriations, beyond inflation and compensation increases, will be for highly targeted initiatives that directly address state needs; not all mandatory cost increases will be fully funded.
-- Sponsored funding will continue to increase at about 10% per year due to aggressive and entrepreneurial activity of ISU faculty and staff; indirect cost rates are not likely to increase significantly, but indirect cost recovery will increase about 5% per year due to increased sponsored funding and greater efforts to obtain full indirect cost reimbursement.
-- Private fundraising will continue to increase, and a major gift campaign will be launched in the next two years; most private funds will be targeted for scholarships, endowed professorships, and new facilities.
The approved strategic plans of the university, colleges, and major support units will provide the overall framework that will guide all major budget decisions of the university. The revenue assumptions imply that most of the strategic planning initiatives will require reallocation of existing funds within and across units. Improving the quality of ISU will come largely from a combination of increased effectiveness of existing faculty, staff, programs, and services and reallocations made possible by greater efficiency.
The highest priority of the Strategic Plan for 1995-2000 is to improve the quality of undergraduate education as measured by student retention, graduation, and placement rates. This will require an investment of approximately $10 million, including $5 million in reallocated funds and $5 million in new funding from the state of Iowa, the federal government, and private sources. A university-wide plan will be completed during 1995-96 to reallocate $5 million in the FY96- FY99 budgets for this effort. The reallocated funds will come from restructur-ing administrative structures and processes and from non-academic programs and services.
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