135A.034 Budget priorities.
Subdivision 1. Operating budget. The governing boards of the University of Minnesota, and the Minnesota state colleges and universities shall each develop, for legislative and executive branch acceptance, its highest budget priorities in accordance with statewide objectives for higher education. It is the intent of the legislature to appropriate at least 67 percent of the total cost of instruction after adjusting for inflation and enrollment changes. However, in the event of a budget shortfall, or if funding of inflation is not possible, available funding shall first be applied to the agreed upon budget priorities.
Subd. 2. Capital projects. The board of regents of the University of Minnesota and the board of trustees of the Minnesota state colleges and universities are requested to consider the following criteria in establishing priorities for requests for bond funds for capital projects:
(1) maintenance and preservation of existing facilities;
(2) completion of projects that have received funding;
(3) updating facilities to meet contemporary needs;
(4) providing geographic distribution of capital projects; and
(5) maximizing the use of nonstate contributions.
Official Publication of the State of Minnesota
Revisor of Statutes