Board of Trustees action items, July 24, 2026

The Board of Trustees of Illinois State University approved several resolutions at its regular quarterly meeting on July 24, 2026. Full text of the resolutions can be found on the Board of Trustees website.

Consent Agenda: All items listed on the Consent Agenda are considered routine and enacted in one motion. Details regarding Consent Agenda items are provided under Meeting Materials in the link above.

FY2027 Operating Budget

The Board approved the FY2027 Budget for Operations totaling $600.4 million. The total source of funds of $603.6 million exceeds the total expense budget of $600.4 million, providing an operating positive margin of $3.2 million. The operating budget includes a planned transfer from General Revenue Reserves to fund the College of Engineering start-up expenses and a planned use of reserves by some units using local restricted funds to cover the initial overhead expense associated with the new budget model as they adjust their financial models to cover the overhead expense in FY2028 and future years. FY2027 marks the first year that the University will utilize a new budget framework, alongside updated processes and timelines: The operating budget is established with each division receiving a general funds budget target that aligns with the University's total projected general funds revenues.

Mitigation, Remediation, and Restoration of June 10, 2026, Flood Damage

Trustees authorized a contract with CORE Construction Services of Illinois, Inc., in the amount of $1,697,850, SERVPRO of Normal, Illinois, in the amount of $718,761.29, and a contingency of $750,000.00 for the mitigation, remediation, and restoration of facilities damaged by the June 10, 2026, flooding event. With the quick turnaround time required to restore the spaces in preparation for the fall semester, this action will allow the use General Revenue Reserves and is expected to be reimbursed by an insurance claim.

Replace the Exterior of 302 School Street after Significant Rain Events

Trustees authorized a capital project to repair and replace the exterior of 302 School Street after experiencing water damage at a cost not to exceed $1.1 million. The three-story apartment-style residential building owned and operated by the University is a desirable space for many students who are not required to live in the traditional residence halls, including transfer, upper-level, and international students. To ensure the timely return of the affected facilities to full operational status, a contract will be issued to replace all current windows, siding, and exterior sheathing using Auxiliary Facilities System (AFS) Housing Resources funds.

Design and Construction Services for the National Pan-Hellenic Council (NPHC) Plaza

Trustees approved the planning, development, and construction of the National Pan-Hellenic Council (NPHC) Plaza. The establishment of a distinct campus space to honor the legacy, contributions, and impact of historically Black fraternities and sororities, collectively known as the Divine Nine, which have maintained a presence on campus for more than 50 years. The $1,000,000 project, funded by bond revenue and foundation dollars is scheduled to begin during Homecoming Week 2026 with substantial completion scheduled for late Spring/early Summer 2027.

Agreement with Keypath Education LLC

The Board authorized the negotiation and execution of a Master Services Agreement with Keypath Education for the development, launch, marketing, recruitment, and support of an online speech-language pathology graduate program. Keypath Education will provide upfront investment and ongoing services to support program launch, scale, and long-term sustainability.

Amend Exhibit B to Installment Purchase Contract Relating to Certificates of Participation (Capital Improvement Projects), Series 2021B

The Board approved an amendment that will use a portion of the proceeds of the 2021B Certificates, previously issued on October 28, 2021, for the acquisition and installation of certain electrical transformers, substations, and switches to serve the Wonsook Kim College of Fine Arts Building (the "Additional Improvement"). The improvement is expected to be completed by August/September 2027, pending the acquisition of certain electrical transformers, substations, and switches with an estimated cost of approximately $315,000 and $1.00 - $1.20 million for installation costs.

Issue Certificates of Participation Series 2026A

Trustees authorized the sale of certificates of participation and entering into related financing agreements in connection with the financing of capital improvements. The improvements include the design and construction of the STEM Building, the Research and Teaching Greenhouse Facilities, the Science Laboratory Building Annex (collectively known as the Science Complex project approved by the Board on May 8, 2026), and additional space renovation and relocation of Academic Programs and Administrative Functions at the new Campus East on GE Road. The issuance of the 2026A Certificates totaling up to $68,500,000 will be used to finance the Improvements. The sale will result in annual debt payments that are expected to be repaid from Academic Enhancement Fee (AEF) revenue.

Issue Certificates of Participation Series 2026B

Trustees authorized the financing of improvements in connection with the solar energy system at Campus East (1711 GE Road) in Bloomington. The solar energy system project was previously approved by the board on December 12, 2025. Financing for the design and construction of the project will be through the issuance of Certificates of Participation (Capital Improvement Projects), Series 2026B (the "2026B Certificates"), not to exceed $16.5 million. The system is estimated annual 3.2 MW of electricity which is expected to meet approximately 85% of the electric needs of the entire property.

Naming of Illinois State Softball Dugout in Honor of Holley Hinthorn

Trustees approved the naming of the Illinois State softball dugout inside Marian Kneer Stadium as the "Illinois State Softball Dugout - In Honor of Holley Hinthorn" in recognition of financial support to Illinois State University. Holley Hinthorn graduated from Illinois State University in 2000 with a degree in business management. Holley and his wife Connie have been loyal supporters of Redbird Athletics since 1996 and their financial commitment to ISU Athletics will continue to enhance student experiences for years to come.

Naming of Keysight Circuits and Electronics Lab and Keysight Digital and Microcontrollers Lab

The Board approved the naming of the Circuits and Electronics Lab, Room 247 and the Digital and Microcontrollers Lab, Room 239 within the College of Engineering at 1709 General Electric Road as the "Keysight Circuits and Electronics Lab" and the "Keysight Digital and Microcontrollers Lab," respectively. The naming is in recognition of financial support to Illinois State University. Keysight has made a generous gift of in-kind equipment made by the company, which specializes in electronic design test and measurement solutions, providing hardware and software tools for industries such as telecommunications, aerospace, automotive, and semi-conductor manufacturing. Keysight also provided a summer camp experience at Illinois State that immersed students in hands-on radio frequency concepts and teamwork.

Naming of Lenovo Computer Labs

The Board approved the naming of computer labs, Room 123 and Room 124, located inside the College of Engineering at 1709 General Electric Road as the "Lenovo Computer Labs." The naming is in recognition of financial support to Illinois State University. Lenovo has made a generous gift of in-kind equipment made by the company, which provides technology that focuses on building a brighter, more sustainable future for customers, communities, and the planet. Lenovo serves as a licensed vendor for TechZone and has worked alongside College of Engineering leadership to build unique opportunities tailored to the curriculum and provide customized, pre-configured machines that meet Illinois State's specific standards for technology.

Naming of Quality Craft Design Lab

The Board approved the naming of the Design Lab, Room 156 and the Design Lab, Room 157, located inside the College of Engineering at 1709 General Electric Road as the "Quality Craft Design Lab." The naming is in recognition of financial support to Illinois State University. Quality Craft has made a generous gift of in-kind equipment made by the company, whose vision "to inspire and improve the home, work and play environments, and lifestyle for all" has allowed them to foster long-term relationships with a wide variety of manufacturing partners, centered on finding innovative product solutions. Quality Craft has developed a strong partnership with Illinois State University and the College of Engineering, presenting to the Introduction to Engineering class and judging the Engineering Design Project Showcase.

Naming of the Mercer Family Locker Room

The Board approved the naming of the swimming and diving locker room, located inside Horton Field House as the "Mercer Family Locker Room." The naming is in recognition of financial support to Illinois State University. Mary Mercer is a two-time graduate of Illinois State, earning both bachelor's and master's degrees. Her late husband, Rollie, and two of their daughters are also Illinois State alumni, and their daughter, Amy, was a member of the swimming and diving team. Mary and Rollie have served on a variety of athletics councils and boards, and they previously created an endowed scholarship.

Naming of Mary Mercer Volleyball Offices

The Board approved the naming of the Volleyball Coaches' Offices inside CEFCU Arena as the "Mary Mercer Volleyball Offices." The naming is in recognition of financial support to Illinois State University. Mary is a loyal supporter of Redbird Athletics and long-time season ticket holder for four sports, including volleyball.

Award Honorary Degree of Doctor of Humane Letters to Jon Farney

Trustees authorized the conferral of an honorary degree to Jon Farney, President and Chief Executive Officer of State Farm Mutual Automobile Insurance Company. The honorary degree of Doctor of Humane Letters (L.H.D.) represents one of the University's most distinguished forms of recognition, honoring individuals whose contributions embody the institution's core values. The honorary degree will be conferred on Saturday, December 12, 2026, during the University's Winter 2026 Commencement Ceremonies, where Farney will be formally recognized for distinguished achievement and contributions. Farney has more than 30 years of experience with State Farm and within the insurance and financial services industry. Since joining State Farm in 1993 as a college intern, he has served in a variety of executive leadership positions. He was elected President of State Farm Mutual in January 2024 and assumed the role of Chief Executive Officer in June 2024. He received a bachelor's degree in accounting from Illinois State University and also holds an MBA and many certifications and designations in his field.