USI Capital Projects Included in Budget Request
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe Board of Trustees at the University of Southern Indiana has approved a two-year capital request for 2015-2017. It includes $7.3 million for a health science/research center and $8 million to renovate and expand its Health Professions Center. September 4, 2014
News Release
EVANSVILLE, Ind. — The Board of Trustees at the University of Southern Indiana met on Thursday, September 4 and reviewed and approved the 2015-2017 operating and capital improvements budget request that will be submitted to the Indiana Commission for Higher Education and the State Budget Agency.
The operating budget was developed using the performance funding metrics created by the Indiana Commission for Higher Education (ICHE). The trustees learned that USI showed improvement in each of the five metrics for which it could compete; overall degree completion; at-risk degree completion; student persistence; on-time graduation rates; and an institution-defined metric tied to college affordability.
The performance funding metrics generated funding of more than $3 million in 2015-2017 for USI. However, the ICHE proposes creating Performance Funding Pools of seven percent in 2015-2016 and eight percent in 2016-2017. The pool would be funded with institutions contributing four to six percent of their operating base to the pool with the anticipation of two to three percent new funding from the State.
Reallocation to the pool from the University’s operating budget would be nearly $2.5 million in each year of the biennium. Based on the proposed funding of the metrics, USI’s base operating appropriation would remain relatively flat over the biennium.
In its 2015-2017 capital improvement budget request, USI seeks bonding authorization for two capital projects. Proposed projects include $7.3 million for the multi-institutional academic health science/research center in downtown Evansville. USI, Ivy Tech Community College, Indiana University School of Medicine – Evansville, and the University of Evansville will jointly plan, occupy and co-fund, with the City of Evansville, a two-building complex that will co-locate various health sciences programs operated by the participating schools with the medical school currently located on the campus of the University of Southern Indiana. USI is requesting funding to construct 26,000 gross square feet in the facility that will be dedicated to several health-related degree programs. An additional $8 million is requested for the renovation and expansion of the third floor of USI’s Health Professions Center where the IU School of Medicine is currently located. The capital improvement budget request also includes nearly $3.5 million for general repair and rehabilitation in both years of the biennium.
The budget includes a line item appropriation request for the operation of Historic New Harmony of $535,566, and for Dual Credit $320,450 in each year of the biennium.
The trustees also approved housing rates and meal plan rates for the 2015-2017 academic year.
In other business, the trustees heard a report on the University’s Lilly Endowment-funded grant initiative to promote opportunity through education collaborations and approved a resolution of congratulations to the USI men’s baseball team.
Source: University of Southern Indiana