At the October 14, 2022, meeting, the Board of Trustees of Illinois State University approved a number of action items. The full resolutions for these are available on the Board of Trustees website.
FY2023 operating budget
The Board of Trustees of Illinois State University approved the University’s annual operating budget of $509.3 million for FY2023. During its May 2022 meeting, the Board authorized expenditures from tentative budget allocations before state appropriations for FY2023 were known.
FY2024 operating and capital requests
The Board of Trustees also approved an FY2024 appropriated operating budget request of $83.1 million and a capital appropriation request of $567.1 million. The requests are based on the University’s strategic plan, Educate Connect Elevate, and will allow the University to address critical statewide goals for higher education. The requests are submitted to the Illinois Board of Higher Education.
The FY2024 appropriated operating budget request represents a $10 million increase over the current state appropriation of $73.1 million. The additional requested funds would be put toward faculty and staff compensation, student financial aid, support for non-traditional students and post-secondary attainment equity, as well as expansion efforts of high need disciplines within the state of Illinois.
The FY2024 capital appropriation request of $567.1 million includes $526.7 million for six major, long-term capital improvement projects and $40.4 million for capital renewal projects. The proposed capital projects include construction of an Engineering Building, a new Mennonite College of Nursing Building, the replacement of Thomas Metcalf School and University High School, the replacement of DeGarmo Hall, and the renovation of Williams Hall.
Purchase of Microsoft Windows computers
Trustees authorized the Office of Technology Solutions to collectively purchase Microsoft Windows-based computers, mobile devices, and software applications on behalf of campus-wide university departments and TechZone (retail venue) for an annual amount not to exceed $1.8 million for each of the next four fiscal years (FY23 through FY26).
Watterson Towers elevator upgrade project
The Board approved a $15 million project to upgrade the elevator systems in the Watterson Towers residence hall. The project will be a complete elevator modernization and upgrade encompassing all eight Watterson Towers elevators to provide an improved reliable elevator system for the next 25 years. Once successful bids have been received and a construction contract signed, the contractor will work continuously until the project is completed and only take two of the eight elevators out of service at a time.
University Housing furniture purchase
Trustees authorized University Housing Services to purchase furniture for on-campus residential facilities at a cost not to exceed $1.65 million. The purchase allows the University to replace worn-out furniture on a regular basis and quickly adapt to increased demand for on-campus housing space.
Renaming of Redbird Arena
The Board of Trustees approved renaming Redbird Arena to “CEFCU Arena” effective upon the completion of a naming rights and sponsorship agreement between the University and CEFCU. Under the agreement CEFCU will pay Illinois State Athletics approximately $3.1 million over 10 years for the naming rights for Redbird Arena, in addition to certain related sponsorship and hospitability opportunities. Funds from the agreement will be used to enhance the student-athlete experience at Illinois State.
Original source can be found here.
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