FY24-25 Biennial Budget Request

FY24-25 Budget Request Summary (PDF)

The 2023 higher education budget bill provided more than $118.1 million in FY24-25 for three of the University’s six requested budget items:

• Core mission support: competitive compensation; tutoring, advising, and other essential student services; classroom equipment and supplies; facility maintenance; and technology.
• Systemwide safety and security: modernize systemwide security infrastructure such as building access controls and cameras.
• American Indian Scholars Program: provide full undergraduate tuition and fee scholarships for eligible Minnesota American Indian students at any of the University of Minnesota’s five campuses.

View a comparison of the request, proposals, and outcome.

Core Mission Support

FY24-25 State Request: $135 million

Address inflationary and core cost increases of U of M's critical research, education and outreach activities in conjunction with internal spending reductions and tuition revenue. This request addresses increased costs in competitive compensation to hire and retain top faculty; tutoring, advising, and other essential student services; classroom equipment and supplies; facility maintenance; and technology.

Minnesota Resident Scholarship

FY24-25 State Request: $60 million
 

Recruit, retain and reduce debt for an estimated 13,000 Minnesota undergraduate residents through scholarships to entering students at the Greater Minnesota campuses and first generation and transfer students at the Twin Cities campus.

Systemwide Safety and Security

FY24-25 State Request: $10 million

Modernize systemwide security infrastructure such as building access controls and cameras. On the Twin Cities campus, replace aging equipment and vehicles, and hire additional public safety staff and add a new K-9 unit.

With millions already spent by the U of M, state support is critical to improve safety in and around our campuses, reduce crime, improve officer response time, and reduce reliance on overtime and other agencies.

American Indian Scholars Program

FY24-25 State Request: $9 million

Provide full undergraduate tuition and fee scholarships for eligible Minnesota American Indian students at any of the University of Minnesota’s five campuses. All Minnesota residents who are enrolled members or citizens of any federally recognized American Indian or Canadian First Nation tribe would be eligible, and all enrolled members or citizens of a Minnesota Tribal Nation, regardless of resident status would be eligible.

Enrollment Driven Tuition Shortfall

FY24-25 State Request: $48 million

Offset recently forecasted tuition revenue shortfalls across most colleges and campuses of the University of Minnesota system, driven by a variety of factors exacerbated by the COVID-19 pandemic. Compared to previously estimated enrollment, the University is seeing a reduction in transfer students, nonresidents and freshmen at some campuses, and a decrease in students continuing into years two through four.

Resident Undergraduate Tuition Freeze

FY24-25 State Request: $40.5 million

Hold tuition flat for all resident, undergraduate students across all five campuses for both years of the biennium. Early modeling suggests that if the University receives funding for Core Mission Support and the Enrollment Drive Tuition Shortfall in full, a tuition rate increase of approximately 3.5% on the Twin Cities campus and 1% on the other campuses would still be necessary to fund projected cost increases.

Dollars in millions.