Upload
others
View
0
Download
0
Embed Size (px)
Citation preview
U-M Ann Arbor Campus2019–20 General Fund Budget
B O A R D O F R E G E N T S | J U N E 2 0 , 2 0 1 9
U-M’s Mission
To serve the people of Michigan and the world through preeminence in creating, communicating, preserving and
applying knowledge, art, and academic values, and in developing leaders and citizens who will challenge the present and enrich
the future
22
3
Long-Term Budget Priorities
3
Fiscal Discipline
AcademicExcellence
Access &Affordability
• Tuition Restraint• Investment through Reallocation• Philanthropy
• Academic & Curricular Innovation• Student Success• Faculty Excellence• Innovative Research & Discovery
• Need-Based Financial aid
4
Academic & Curricular Innovation
4
Example:
College of LSA’sNew Quantitative
Methods and Social Science Initiative
5
Student Success
5
Example:
School of Information’s iSuccess Initiative
6
Faculty Excellence
Example:
Hiring in high demand and strategic areas such as:• Computer Science &
Engineering• Data Science• Environment & Sustainability• Biosciences
6
7
Innovative Research & Discovery
7
Example:
Michigan Engineering’s Blue Sky Initiative
8
Need-Based Financial Aid
Undergraduate financial aid
budget +11.2%
8
Increase Grant Aid
Minimize Loan
Burden
9
2016-17 Average Net Price by Family Income
Net Price includes Tuition & Fees, Room & Board, Books/Other Costs Net of Grant & Scholarship AidSource: National Center for Education Statistics, College Navigator
$0 - $30KFamily Income
$30K - $48KFamily Income
$48K - $75KFamily Income
$75K - $110KFamily Income
Published Price with No Aid
U-M in-state price compares favorably to public peers
9
10
Eliminate Lower Priority Activities and/or Find
Efficiencies
Shift General Fund Costs to Non-General Fund Sources
Expand Non-General Fund Sources
• Achieved $406 million in recurrent General Fund savings from FY 2004 to FY 2019
• $27 million additional savings in FY 2020 budget proposal
U-M continues to leverage alternative revenues and invest through reallocation
10
11
Financial Aid
AcademicProgramming
Endowed Professorships
Tuition per student would be about $6,400 higher without this support
Gifts and distributions from endowment provide substantial support for academic enterprise
1111
1212
$247MGap
$567M
$364
$321M
$250
$300
$350
$400
$450
$500
$550
$600
Mill
ions
of D
olla
rs
Fiscal Year
FY2002 Appropriation Projected at Growth in ECI
Budgeted State Appropriations
State Support has not kept up with inflation
13
Recommended FY 2020 Tuition and Required Fees
UNDERGRADUATE: % Change $ ChangeIn-State 1.9% $296/yearOut-of-State 3.7% $1,850/yearInternational 5.8% $2,850/year
GRADUATE: % Change $ ChangeIn-State 3.2% $762/yearOut-of-State 3.2% $1,526/yearInternational 5.4% $2,526/year
Dollar amounts shown represent the increase for most common lower division undergraduate rates and general Rackham graduate rates. A limited number of differential increases are also recommended for specific graduate programs.13
14
U-M’s commitment to Michigan families
Go Blue Guarantee
Need-Based Grant Aid
Published Tuition
Michigan Families earning up to $65,000
Most Michigan Families who are eligible for need-based grant aid
Michigan Families who receive no aid
0%
0%
1.9%
Tuition Increase
14
15
U-M Ann Arbor Recommended FY 2020 General Fund Budget ($ thousands)
15
FY 2019 $ Change FY 2020 % Change
Revenue Budget
State Appropriation $320,782 $4,749 $325,532 1.5%
Tuition and Fees 1,597,254 97,234 1,694,487 6.1%
Indirect Cost Recovery 253,195 23,922 277,117 9.4%
Other Revenue 9,845 900 10,745 9.1%
Total Revenues $2,181,076 $126,805 $2,307,881 5.8%
Expenditure Budget
Academic $1,469,510 $84,735 $1,554,245 5.8%
Executive Officer & Service Units 302,512 12,902 315,414 4.3%
Undergraduate Financial Aid 205,600 23,001 228,602 11.2%
Rackham Graduate Financial Aid 56,516 1,809 58,325 3.2%
University Items 146,937 4,358 151,295 3.0%
Total Expenditures $2,181,076 $126,805 $2,307,881 5.8%
Detail may not sum to totals because of rounding
16
U-M’s stature reflects sustained investment and careful stewardship
16
Freshman Retention
#1U.S. Public Research University
Six-Year Graduation Rate
#2U.S. Public Research University
National Academy Members
#5U.S. Public Research University
Academic R&D Expenditures
#1U.S. Public Research University
Top Ten Graduate Programs
#2U.S. Public Research University
Prominent Awards to Faculty
#2U.S. Public Research University