June 26, 2026 - Board of Regents Meeting Special Meeting, University of Minnesota

The University of Minnesota Board of Regents held a special meeting on June 26, 2026, focusing primarily on fiscal year 2027 budget and capital improvement plans. The Board approved the President's recommended capital improvement budget, which includes $35 million in state funding for asset preservation, $35 million for the St. Paul Campus Center, and over $200 million in university-funded projects and repairs. They also approved the annual operating budget, which features a 3.8% tuition increase aimed at balancing rising costs and maintaining accessibility. Additionally, the Board authorized the use of new market tax credits to finance the construction of the Community-University Healthcare Center, highlighting creative financing strategies to preserve university funds. A significant real estate transaction was approved to sell the Les Bolstad Golf Course for $30.5 million, with proceeds directed to a quasi-endowment supporting the St. Paul campus. This sale followed extensive evaluation and community engagement, addressing the course's substantial capital needs and aligning with strategic campus planning. The Board also approved the fiscal year 2027 internal audit plan. Throughout the meeting, Regents discussed budget transparency, financial challenges in higher education, and the importance of strategic resource allocation to support the university's core mission and economic impact in Minnesota.