November 15 , 2006
Board Meeting Summary
Wells Fargo Place
Saint Paul, Minnesota
THIS SUMMARY IS NOT THE OFFICIAL MINUTES OF THE MEETING
FY 2008-2009 Biennial Budget Request and FY 2007 Capital Budget Request
The Board of Trustees is committed to providing high-quality, accessible education at all Minnesota State Colleges and Universities. The Board strongly urges the state of Minnesota to support the Minnesota State Colleges and Universities fiscal year 2008-2009 biennial budget request as illustrated in Table 2 (below) and FY2007 capital budget request in Attachment A.
Minnesota State Colleges and Universities FY2008-FY2009 Biennial Budget Request
Base Appropriation: $1,204 million
Appropriation Request: $177 million (15 percent change)
State Appropriation: $1,381 million
The Minnesota State Colleges and Universities' Board of Trustees approves the final fiscal year 2008-2009 Minnesota State Colleges and Universities biennial operating budget request and the fiscal year 2007 capital budget request for transmittal to the Department of Finance. The Chancellor is requested to provide periodic updates on the progress of the budget through the executive and legislative branch review and approval process.
It is the intent of the Board that the system average tuition increase for the 2008-2009 biennium will not exceed 4 percent annually regardless of the legislative appropriation.
Review of Fiscal Year 2006 Audited Financial Statements
Based on the review and recommendation of the Audit Committee, the Board of Trustees approved the release of the fiscal year 2006 audited financial statements, as submitted.