The Board of Regents' finance committee reviewed and accepted the fiscal year 2024–25 operating budgets for higher education systems.

Matthew (staff) summarized the committee’s budget review, noting legislative appropriations that were provided in June and key changes to the FY24-25 package, including a reported roughly $70 million change in state general funds and a $19 million reduction in statutory dedications that entered the budget during the executive and legislative process. He explained the operating budgets presented are the amounts systems were authorized to collect and spend, including self‑generated revenue authority.

Members asked about contingency scenarios for projected cuts next fiscal year (a 19–24% potential scenario was referenced), whether the current approval includes adjustments for enrollment changes, and how supplemental or joint-budget adjustments would be handled. Staff said system-level amendments would be used for some adjustments and that items requiring board action would come back before the budget committee.

Regent Temple moved to accept the staff recommendation to approve the FY24-25 operating budgets; the motion was seconded and approved by voice vote.