CCAgenda_04Jan7 - Laserfiche WebLink

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Summary Governor's Recommended 2004 Capital Budget (dollars in millions) • The Governor presented his recommendations under 5 broad themes. The total recommendation was $759.7 million. The recommendation included $689 million of General Fund supported GO Bond financing. Theme Amount Percentage Education (K-12 and Higher Education) .$195.6 25.7% Economic Development, Housing and Transportation $194.0 25.5% Environment $172.4 22.7% Safer Communities $108.4 14.3% Effective Government and Public Services $89.3 11.8% Total Capital Recommendation $759.7 100% • • Within the Education theme the Governor recommended: Organization Amount % °f Education % of Total Minnesota State Colleges and Universities $88.6 45% 12% University of Minnesota $76.6 39% 10% Department of Education $24.2 12% 3% Minnesota State Academies $4.3 2% 1% Perpich Center for Arts Education $1.8 1 % 0% Total $195.6 100% The Governor's $76 million recommendation for the University included 4 projects. - Higher Education Asset Preservation and Replacement: $38 million - UMD Life Science Building Renovation: $9.3 million (plus $4.7 million in U funds.) - Kolthoff Hall Renovation: $16.0 million. (plus $8.0 million in U funds.) - Education Sciences (MRRC) Renovation: $13.3 million (plus 6.7 million in U funds.) The Governor's recommendation for MNSCU was comparable to the University. MNSCU received $75.4 million of GO Bond Funding (versus $76.6 million for the University) and is required to contribute $13.2 million in User Financed bonds. The University's required user financing was not included in the recommendation because the University will issue its own debt of $19.4 million. • The Governor also recommended a $20 million research facility for the Mayo Clinic that will be funded through the University.