IOWA CITY — The University of Iowa received a clean state audit for the fiscal year ending June 30, 2025, with no findings involving taxpayer funds, internal controls or compliance issues.
Iowa Auditor of State Rob Sand released the report on July 30, 2026.
The audit found no matters related to the receipt or expenditure of taxpayer funds and no material weaknesses in the university’s internal financial controls.
No findings were reported in the university’s federal single audit, internal control review or statutory compliance review.
While the audit identified no financial wrongdoing, the report showed continued increases in enrollment and operating costs at one of Iowa’s largest public institutions.
The University of Iowa reported 29,623 full-time equivalent students during the 2024-2025 academic year, up from 28,758 the previous year.
The average cost per student increased to $22,348, compared to $22,098 during the prior year.
The report calculated approximately $662 million in net teaching-related expenditures after subtracting separately budgeted research, public service and student aid expenses from the university’s general educational fund spending.
The average cost per student has risen each year since the 2020-2021 fiscal year, when it stood at $21,015.
University of Iowa Health Care also reported a sharp increase in patient volume and treatment costs.
University Hospitals and Clinics recorded 666,427 patient days during the fiscal year, up from 601,459 the previous year.
The average daily cost per patient rose to $4,593, compared to $4,225 one year earlier.
That daily patient cost has climbed steadily in recent years, increasing from $3,522 during the 2020-2021 fiscal year to $4,593 during 2024-2025.
The University of Iowa is governed by the Iowa Board of Regents and is included in the State of Iowa’s annual financial reporting and audit process.
While the latest audit found no problems with taxpayer funds or internal controls, the university continues to pursue major investments in its campus and athletic facilities.
Earlier this summer, NorthIowaToday reported on plans for a new field hockey operations building and a major renovation of Carver-Hawkeye Arena. The projects were presented as part of an effort to modernize University of Iowa athletic facilities and improve spaces used by student-athletes, fans and staff.
The university has also faced campus controversies over the years. In 2014, NorthIowaToday reported that an unauthorized art display at the historic Old Capitol was ordered removed after university officials said it was offensive to members of the campus community.
The Auditor of State’s latest report concluded that no additional findings or recommendations were necessary for the fiscal year, marking another clean audit for the University of Iowa.