91Ô´´'s Financial Profile
Additional resources
The information below provides a summary of the 91Ô´´'s revenues and expenses, as well as other relevant financial information. For convenient access to a variety of webpages related to 91Ô´´'s finances, policies and other information, please visitÌýon the Key Financial Links page.
Summary of 91Ô´´ finances
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The provided tables delineate the financial performance of the 91Ô´´ across various sectors, including Operating Revenue & Expenses, Capital Funding & Expenditures, and Endowment & Pooled Investment Portfolio for the fiscal years spanning from 2017 to 2025. Additionally, the budget for the fiscal year 2026, approved by the Board of Trustees on May 13, 2025, is presented.Ìý
Overall Financial Summary
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| Ìý | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 Ìý | FY23 | FY24 | FY25 | FY26 Budget |
|---|---|---|---|---|---|---|---|---|---|---|
| Financial Resources ($ in millions) | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý |
| Total Operating InvestmentsÌý | 606 | 652 | 536 | 519 | 554 | 572 | 525 | 543 | 550 | 572 |
| Unspent Bond Proceeds for Capital | 21 | 176 | 191 | 67 | 62 | 57 | 49 | 6 | - | - |
| Total Operating Investments and Unspent Bond Proceeds | 627 | 828 | 727 | 586 | 616 | 629 | 574Ìý | 549 | 550 | 572 |
| Change | 14 | 201 | (101) | (141) | 30 | 13Ìý | (55)Ìý | (25) | 1 | 22 |
| Endowment Funds Market Value, Net | 1,290 | 1,336 | 1,387 | 1,376 | 1,864 | 1,702 | 1,739Ìý | 1,843 | 1,965 | 1,843 |
| Long-Term Liabilities: | 1,074 | 1,231 | 1,225 | 1,279 | 1,279 | 1,160 | 1,119Ìý | 1,172 | 1,199 | 1,297 |
Adjusted Modified Cash/Budgeted Operating Statement of Activities, All Funds Basis | Ìý | Ìý | ||||||||
Operating Revenue | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý |
| Total Operating Revenue | 989 | 1,025 | 1,070 | 1,033 | 996 | 1,132 | 1,169Ìý | 1,256 | 1,272 | 1,343 |
| Total Operating Expense | 911 | 968 | 1,043 | 1,050 | 972 | 1,078 | 1,163Ìý | 1,259 | 1,271 | 1,343 |
| Operating Surplus/(Deficit) | 78 | 57 | 27 | (17) | 24 | 54Ìý | 6 | (3) | 1 | - |
Capital Activities | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý |
| Total Capital Funding | 47 | 52 | 109 | 33 | 31 | 46Ìý | 73 | 113 | 63 | 168 |
| Total Capital Expenditures | 82 | 92 | 179 | 173 | 74 | 52 | 108Ìý | 142 | 69 | 146 |
| Capital Activities Funded by Operations and Operating Investments | (35) | (40) | (70) | (140) | (43) | (6) | (35) | (29) | (6) | 22 |
| Change in Fund Balance from Operating and Capital Activities | 43 | 17 | (43) | (157) | (19) | 48Ìý | (29)Ìý | (33)Ìý | (5) | 22 |
| Accrual/Prepaid Differences | (46) | (22) | (64) | 20 | (24) | (11) | (29) | (3) | (7) | Ìý |
| Appreciation/(Depreciation) Operating Investments in Pooled Portfolio | 17 | 7 | 6 | (4) | 73 | (24)Ìý | 3 | 11 | 13 | Ìý |
| 2018 Bond Proceeds | - | 199 | - | - | - | - | - | - | - | Ìý |
| Change in Operating Investments and Unspent Bond Proceeds | 14 | 201 | (101) | (141) | 30 | 13Ìý | (55)Ìý | (25) | 1 | 22 |
Operating Revenue & Expenses
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| Ìý | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 Ìý | FY23 | FY24 | FY25 | FY26 Budget |
|---|---|---|---|---|---|---|---|---|---|---|
Operating Revenue ($ in millions) | Ìý | Ìý | ||||||||
| Net Undergraduate Tuition & Fees | 349 | 364 | 369 | 374 | 337 | 335 | 343 | 363 | 378 | 407 |
| Net Graduate Tuition & Fees | 31 | 36 | 34 | 30 | 30 | 28 | 31 | 35 | 36 | 34 |
| Other Tuition & FeesÌý | 44 | 46 | 56 | 55 | 50 | 62 | 65 | 68 | 72 | 78 |
| State Appropriation | 121 | 119 | 122 | 125 | 125 | 128 | 134Ìý | 140 | 145 | 147 |
| Facilities and Administrative Cost Recoveries | 36 | 37 | 40 | 41 | 44 | 54Ìý | 59Ìý | 67 | 66 | 68 |
| Endowment Payout and Proceeds of Investment of Previous Surpluses | 69 | 71 | 75 | 72 | 69 | 72 | 88 | 98 | 103 | 98 |
| Auxiliary Revenue | 119 | 127 | 130 | 90 | 50 | 121 | 136Ìý | 142 | 149 | 154 |
| Gifts for Operating | 31 | 29 | 28 | 24 | 29 | 33 | 28Ìý | 37 | 29 | 38 |
| Contracts & Grants | 142 | 145 | 165 | 171 | 181 | 232 | 224Ìý | 246 | 232 | 250 |
| HEERF relief reimbursements | Ìý | Ìý | Ìý | 5 | 46 | 16 | 0Ìý | 0 | 0 | 0 |
| Other & Entrepreneurial Revenue | 47 | 51 | 51 | 46 | 35 | 51 | 61Ìý | 60 | 62 | 69 |
| Total Operating Revenue | 989 | 1,025 | 1,070 | 1,033 | 996 | 1,132 | 1,169Ìý | 1,256 | 1,272 | 1,343 |
Expenses | Ìý | Ìý | ||||||||
| Faculty Salaries | 151 | 159 | 169 | 177 | 178 | 175 | 180Ìý | 187 | 191 | 199 |
| Salaried Staff Salaries | 151 | 162 | 173 | 185 | 184 | 190 | 212Ìý | 235 | 246 | 244 |
| Hourly Staff Salaries | 77 | 79 | 80 | 80 | 65 | 72 | 77 | 79 | 78 | 87 |
| Adjunct Faculty & Other Contract Workers | 23 | 24 | 24 | 26 | 21 | 25 | 26Ìý | 28Ìý | 32 | 28 |
| Graduate Student Salaries | 42 | 45 | 50 | 51 | 52 | 52 | 59Ìý | 62 | 62 | 63 |
| Benefits | 167 | 175 | 184 | 192 | 190 | 191 | 205 | 224 | 260 | 253 |
| Travel | 27 | 29 | 31 | 25 | 3 | 17Ìý | 30Ìý | 31 | 30 | 32 |
| Supplies, Materials and Other | 130 | 145 | 176 | 149 | 121 | 190 | 202Ìý | 228 | 194 | 235 |
| Plant Maintenance & OperationsÌý | 81 | 86 | 89 | 82 | 72 | 83 | 85Ìý | 96 | 97 | 99 |
| Research Subcontracts | 24 | 25 | 26 | 35 | 38 | 41 | 46Ìý | 48 | 42 | 51 |
| Debt Service | 38 | 39 | 41 | 48 | 48 | 42 | 41Ìý | 41 | 39 | 52 |
| Total Operating Expenses | 911 | 968 | 1,043 | 1,050 | 972 | 1,078 | 1,163Ìý | 1,259 | 1,271 | 1,343 |
| Operating surplus**/(deficit) | 78 | 57 | 27 | (17) | 24 | 54Ìý | 6Ìý | (3) | 1 | 0 |
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**Surplus is reinvested in pooled investment portfolioÌý
Capital Funding & Expenditures
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| Ìý | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 Ìý | FY23 | FY24 | FY25 | FY26 Budget |
|---|---|---|---|---|---|---|---|---|---|---|
Capital Funding ($ in millions) | Ìý | Ìý | ||||||||
| Gifts for Capital | 2 | 3 | 11 | 9 | 15 | 23Ìý | 11Ìý | 7 | 21 | 14 |
| Bond Proceeds | 39 | 48 | 97 | 13 | 4 | 5Ìý | 10 | 45 | - | 75 |
| State Bond Bill Appropriation | 6 | 1 | - | 1 | 3 | 11 | 12 | 38 | 22 | 29 |
| Other Capital Funding | - | - | 1 | 10 | 9 | 7Ìý | 39Ìý | 23 | 20 | 50 |
| Total Capital Funding | 47 | 52 | 109 | 33 | 31 | 46Ìý | 73Ìý | 113 | 63 | 168 |
Capital Expenditures | Ìý | Ìý | ||||||||
| Deferred Maintenance, budget | 18 | 36 | 36 | 36 | 9 | 18 | 18 | 6 | 8 | 30 |
| Capital Projects | 64 | 56 | 143 | 137 | 65 | 34 | 90Ìý | 136 | 61 | 116 |
| Total Capital Expenditures | 82 | 92 | 179 | 173 | 74 | 52 | 108 | 142 | 69 | 146 |
| Capital Activities Funded by Operations and Operating Investments | (35) | (40) | (70) | (140) | (43) | (6) | (35)Ìý | (29) | (6) | 22 |
Endowment & Pooled Investment Portfolio
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| Ìý | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 Ìý | FY23 | FY24 | FY25 | FY26 Budget |
|---|---|---|---|---|---|---|---|---|---|---|
Financial Resources: ($ in millions) | Ìý | Ìý | ||||||||
| Cash and Cash Equivalents | 51 | 85 | 111 | 130 | 125 | 73 | 50 | 44 | 44 | 44 |
| Operating Investments | 312 | 317 | 177 | 162 | 151 | 262Ìý | 251 | 264 | 258 | 280 |
| Operating Investments in Pooled Portfolio | 243 | 250 | 248 | 227 | 278 | 237Ìý | 224Ìý | 235 | 248 | 248 |
| Total Operating InvestmentsÌý | 606 | 652 | 536 | 519 | 554 | 572 | 525Ìý | 543 | 550 | 572 |
| Unspent Bond Proceeds for CapitalÌý | 21Ìý | 176 | 191 | 67 | 62 | 57 | 49Ìý | 6 | - | - |
| Total Operating Investments and Unspent Bond Proceeds | 627 | 828 | 727 | 586 | 616 | 629Ìý | 574Ìý | 549 | 550 | 572 |
| Change | 14Ìý | 201 | (101) | (141) | 30 | 13Ìý | (55)Ìý | (25) | 1 | 22 |
| Endowment Funds Market Value, Net | 1,290 | 1,336 | 1,387 | 1,376 | 1,864 | 1,702 | 1,739Ìý | 1,843 | 1,965 | 1,843 |
| Ìý | Ìý | Ìý | ||||||||
Long-Term Liabilities: | Ìý | Ìý | ||||||||
| Long-term Debt and Capital Leases, Net | 524 | 733 | 719 | 709 | 697 | 685 | 671 | 657 | 644 | 782 |
| Postemployment Benefit Obligations | 550 | 498 | 506 | 570 | 582 | 475Ìý | 448Ìý | 515 | 555 | 515 |
| Long-Term LiabilitiesÌý | 1,074 | 1,231 | 1,225 | 1,279 | 1,279 | 1,160 | 1,119Ìý | 1,172 | 1,199 | 1,297 |
| Operating Statement of Activities, All Funds Basis | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý |
| Total Operating Revenue | 989 | 1,025 | 1,070 | 1,033 | 996 | 1,132 | 1,169Ìý | 1,256 | 1,272 | 1,343 |
| Total Operating Expense | 911 | 968 | 1,043 | 1,050 | 972 | 1,078 | 1,163Ìý | 1,259 | 1,271 | 1,343 |
| Operating Surplus/(Deficit) | 78 | 57 | 27 | (17) | 24 | 54 | 6 | (3) | 1 | 0 |
| Capital Activities | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý | Ìý |
| Total Capital Funding | 47 | 52 | 109 | 33 | 31 | 46 | 73Ìý | 113 | 63 | 168 |
| Total Capital Expenditures | 82 | 92 | 179 | 173 | 74 | 52 | 108Ìý | 142Ìý | 69 | 146 |
| Capital Activities Funded by Operations and Operating Investments | (35) | (40) | (70) | (140) | (43) | (6) | (35)Ìý | (29) | (6) | 22 |
| Change in Fund Balance from Operating and Capital Activities | 43 | 17 | (43) | (157) | (19) | 48 | (29) | (33) | (5) | 22 |
| Accrual/Prepaid Differences | (46) | (22) | (64) | 20 | (24) | (11) | (29) | (3) | (7) | Ìý |
| Appreciation/(Depreciation) Operating Investments in Pooled Portfolio | 17 | 7 | 6 | (4) | 73 | (24)Ìý | 3Ìý | 11 | 13 | Ìý |
| 2018 Bond Proceeds | - | 199 | - | - | - | - | -Ìý | -Ìý | - | - |
| Change in Operating Investments and Unspent Bond Proceeds | 14 | 201 | (101) | (141) | 30 | 13 | (55)Ìý | (25)Ìý | 1 | 22 |
Higher Education Emergency Relief Funding
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Fiscal Year | Higher Ed Emergency Relief Fund | Student Aid/Grants | University Aid | Total |
|---|---|---|---|---|
| FY20 | HEERF Act | $6.1M | $6.1M | $12.2M |
| FY20 Total | Ìý | $6.1M | $6.1M | $12.2M |
| Ìý | Ìý | Ìý | Ìý | Ìý |
| FY21 | Omnibus Appropriation | $6.1M | $11.9M | $18.0M |
| FY21 | HEERF Act – Governors Relief Fund | Ìý | $32.5M | $32.5M |
| FY21 Total | Ìý | $6.1M | $44.4M | $50.5M |
| Ìý | Ìý | Ìý | Ìý | Ìý |
| FY22 | American Rescue Plan Act* | $16.1M | $16.1M | $32.2M |
| FY22 | ARPA/State and Local Fiscal Recovery Fund** | Ìý | $10.0M | $10.0M |
| FY22 | CARES Act - Governors Relief Fund*** | Ìý | $6.9M | $6.9M |
| FY22 Total | Ìý | $16.1M | $33.0M | $49.1M |
| Grand Total | Ìý | $28.3M | $83.5M | $111.8M |
* American Rescue Plan Act Student Aid & Institutional Aid awarded in FY21, however Student Aid disbursements & recognition of institutional aid is expected in FY22
** American Rescue Plan Act/State and Local Fiscal Recovery Fund total award is $41M disbursed as follows: FY22 - $10M,ÌýFY23 - $15M and FY24 - $16M.Ìý Awarded funds to go towards the construction expenses of Building X.
*** FY22 CARES Act - Governors Relief Fund awarded after FY22 April projection
