TO:                Budget Committee Members

�����������������     Montana Board of Regents


FROM:�������     Rod Sundsted

�����������������     Associate Commissioner for Fiscal Affairs


SUBJECT:      Budget Committee Materials

Enclosed are materials for the Budget Committee meeting that will be held on adjournment of the regular board meeting on July 9, 2004.


c:� Commissioner Stearns

����� Presidents and Chancellors

����� Fiscal Officers�