October 9, 2026 - Board of Regents Meeting, University of Minnesota

The University of Minnesota Board of Regents’ October 9, 2026 meeting included several finance and capital-planning actions. The Finance and Operations Committee unanimously approved on the Board’s behalf the biennial budget request for fiscal years 2028–29, the six-year capital plan, and the 2027 state capital request. Its consent report included an employment agreement, a Permanent University Fund report, and one real estate transaction. The Mission Fulfillment Committee also approved a consent report covering changed, discontinued, and new academic programs. No specific construction projects, contract awards, vendors, bid approvals, or dollar amounts for the capital requests were identified in the transcript.

President Cunningham outlined a university-wide budget-planning process that anticipates reducing the operating budget by $225 million to $260 million over two years, amid flat state appropriations and declining federal research funding. The University of Minnesota Foundation reported record fundraising of $541 million and $336 million made available to the University, emphasizing that donor-restricted funds must be used for their designated purposes and cannot be redirected to operating expenses. The Board also approved minutes and a consent report, and passed a resolution modifying the Chief Auditor’s reporting line; no procurement award was reported.