Budget Update

Legislative Update

During the week of February 26, President Wagner engaged in comprehensive discussions with the Joint Finance and Appropriations Committee, House and Senate Education Committees, as well as with individual legislators. He highlighted ISU’s commitment to enhancing educational opportunities for students, underpinned by the principles of access, collaboration, driving impact, and institutional boldness. President Wagner showcased ISU’s leadership as the frontrunner in the State by outlining the university’s contributions to meeting workforce demands through our academic programs, conducting impactful research that solves real-world problems, leading healthcare education in Idaho, and fostering student enrollment and retention success.  

FY2025 Tuition and Fees

Proposed FY2025 tuition and fees include a 3% increase to undergraduate resident tuition and fees. Public tuition and fee hearings are scheduled for March 13 and 14. Final recommendations will go to the State Board of Education at their April meeting.

Budget Optimization Updates

We have launched two new budget optimization initiatives: University Events and University Administration. A list of all initiatives, including project scope and work teams, is posted online. Please contact Jen Steele if you have questions or would like to get involved in any of these initiatives.

Budget Website Updates

We are in the process of updating the budget website to improve navigation and access to information. We’ll be adding a new Budget Reports & Analyses section that houses summary reports shared at Town Halls that answer common questions about our financial and operating trends and outlook.

FY2024 and FY2025 Outlook

We have reduced our projected FY2024 central university deficit from $15.7M to $5-6M due to enrollment revenue growth and the hiring pause. This will reduce the draw down of central university reserves as we work to solve our structural deficit.

We are implementing our deficit reduction plan for FY2025. We still have hard work ahead of us, but we are positioned to achieve our goal of a balanced central university budget by FY2027.

Questions? Comments? Suggestions?

We’d love to hear from you! Please contact Jen Steele at jennifersteele@isu.edu or 208.282.4277. You can also submit your thoughts via our online feedback form.