October 8, 2026 - Finance & Operations Committee, University of Minnesota Board of Regents

The October 8, 2026 Finance & Operations Committee of the University of Minnesota Board of Regents approved the president’s recommended biennial state budget request and the university’s six-year capital plan and 2027 state capital request. The biennial request totals $85 million and focuses on workforce needs, including $10 million recurring for statewide computing infrastructure, $15 million annually to expand health-care workforce training, and $54 million for operating costs and compliance needs, alongside initial funding for a career/workforce accelerator and expanded online learning. The committee also approved a $350 million capital request—$250 million requested from the state and $100 million in university matching funds—with priorities including a University of Minnesota Rochester academic building, modernized clinical dental spaces, and systemwide asset preservation. Regents were told the six-year plan is a planning framework for pre-design and evaluation, not a commitment to construction funding.

The committee reviewed, but deferred action until December, a proposed transfer of 3,391 acres at the Cloquet Forestry Center to the Fond du Lac Band, with the university to accept 407 acres from the state at no cost; a prior $1.3 million state appropriation will retire outstanding bonds on the property. The consent agenda, including an employment agreement and a Mayo Clinic lease amendment for Rochester space (with Mayo continuing to cover operating and maintenance costs), passed. An informational report noted 113 days of cash on hand, above the board’s 75-day minimum. No vendor awards or competitive procurements were identified.