The Restricted Fund supports many of the university’s instructional, research, clinical, and auxiliary activities and provides financial resources that complement the General Education Fund. The FY2027 Restricted Fund budget reflects projected revenues and expenditures of the Organized Activities Fund, Auxiliary Enterprise Fund, Current Restricted Fund, and Plant Fund groups.
Restricted Fund revenues are derived from a variety of sources, including federal and non-federal sponsored projects, sales and services, indirect cost recoveries, tuition and fees, bond proceeds, and state appropriations. The FY2027 expenditure plan supports salary adjustments, mandatory cost increase and provides funding for essential academic, research, clinical, and operational activities.
The Organized Activities Fund includes Carver College of Medicine and Dentistry practice plans, UI Pharmaceuticals, sports camps, a portion of student mandatory fees, tuition- and program-specific fees, publications, conferences, and workshops administered by academic departments.
The Auxiliary Enterprise Fund includes Intercollegiate Athletics, University Housing and Dining, Iowa Memorial Union operations, Student Health, Recreational Services, Hancher Auditorium, Parking and Transportation, Cambus, and other self-supporting enterprises that provide services to students, faculty, staff, and the public.
The Current Restricted Fund includes externally sponsored activities, primarily research and student financial aid supported by federal, state, private, and other non-federal funding sources.
The Plant Fund supports the acquisition, construction, renovation, and maintenance of the university’s physical facilities and infrastructure through bond proceeds, capital appropriations, gifts, and other designated funding sources.
Tuition Replacement
The FY2027 budget includes $12.2 million for Tuition Replacement funding appropriated to support debt service on Academic Building Revenue Bond issues.
Regent Innovation Fund
The University received a recurring allocation of $1.05 million from the Skilled Worker and Job Creation Fund for the development of technology commercialization, marketing and business development efforts in areas related to technology commercialization, entrepreneurship, and business growth.
The University will leverage the Innovation Fund with matching funds dollar for dollar to:
- Support the development of innovations with commercial potential, pushing more University of Iowa technology to reach the marketplace.
- Build more partnerships between the private sector and the University of Iowa to support workforce development opportunities providing hire-ready UI graduates for high tech jobs in Iowa.
- Provide dry-lab and wet-lab space for researchers, and biomedical and electronics prototyping facilities for medical devices and startup development.
- Increase the effectiveness of University of Iowa resources in aiding existing state and regional economic development initiatives.
- Facilitate broader entrepreneurial competence, leadership, and support in non-medical areas of expertise on campus.
Iowa Regents Resource Centers
The FY2027 budget includes approximately $0.3 million for the Iowa Regents Resource Centers. These Centers serve the educational needs of students in western Iowa and the Quad-Cities. The Centers are part of the Regent Enterprise and include the University of Iowa, Iowa State University, and the University of Northern Iowa.
Iowa Geological Survey
The University received a recurring allocation for the Iowa Geological Survey of $695,000. Funding from the Environment First Fund will be used for operations and water resource management and will help provide Iowans with the knowledge to manage effectively natural resources for long-term sustainability and economic development. The appropriation, along with additional grant funding from other sponsors, will provide support for staff, researchers, and students who dedicate their time to the mission and work of the Iowa Geological Survey.
Strategic Initiatives Fund
The University received approval in 2020 from the Board of Regents, State of Iowa, to enter a 50-year partnership for management and operations of its utility system with ENGIE North America and Meridiam. This partnership allows the university to invest up to $15 million per fiscal year on projects supporting the UI’s strategic plan and core missions of teaching, research, and scholarship.
The University has awarded the following projects for FY2027:
- Iowa Program in Experimental Neurotherapeutics (IPEN), $600,000
- HAWKTRUST – CMMC, $1 million
- Dance Building Renovation, $3 million
- Advancing Cancer Research Infrastructure, $3 million
- High Impact Hiring Initiative, $3 million
- Data Trust Portal, $543,400
Bonds Sales/Master Lease/Debt Service
The Bonds and Loans line includes one potential bond sale for FY2027 subject to the refinement of schedules and final approval by the Board:
Iowa Memorial Union (Phase 2) $ 30.7 million
FY2027 projected debt service on existing issues is $141.7 million for bonds and $8.3 million for existing notes payable.
Other Income
Other income includes gifts of $191.1 million, non-federal grants and contracts of $99 million, and other miscellaneous revenue of $64.2 million.