State
appropriations accounted for 16 percent of the University’s
budget during fiscal year 2003. To
offset these reductions, the state Board of Regents approved
a 13 percent tuition increase for resident and nonresident undergraduate
and graduate students, and in addition, instituted a tuition
surcharge.
The
tuition increase and surcharge, coupled with an increase in the
number of students, kept the University thriving.
UM
began the 2003-04 academic year with a 2.3 percent increase in
total enrollment, proving that the University is still affordable.
| Source
of Current Revenues FY 2003 (unaudited) |
| General
Fund Tuition and Fees |
$59,436,488 |
26% |
| State
Appropriations |
35,926,772 |
16% |
| Grants,
Contracts Gifts & Scholarships |
60,657,270 |
26% |
| Investment
Income |
405,851 |
0% |
| Designated
Revenue |
36,585,676 |
16% |
| Auxiliary
Revenue |
35,942,900 |
16% |
| Other
Sources |
646,805 |
0% |
| Total |
$229,601,762 |
100% |
| Uses
of Current Funds FY 2003 (unaudited) |
| Instruction |
60,211,594 |
27% |
| Research |
27,850,906 |
12% |
| Public
Service |
7,577,840 |
3% |
| Academic
Support |
15,375,761 |
7% |
| Student
Services |
7,125,131 |
3% |
| Institutional
Support |
6,894,145 |
3% |
| Plant
Operation and Maintenance |
10,050,290 |
4% |
| Scholarships
and Fellowships |
21,302,307 |
9% |
| Designated
Expenditures |
32,497,083 |
14% |
| Auxiliary
Expenditures |
36,745,741 |
16% |
| Other
Expenditures |
316,987 |
0% |
| Total |
$225,947,785 |
100% |
| Uses
of Current Funds FY 2003 (unaudited) |
| Instruction |
$
60,211,594 |
27% |
| Research |
27,850,906 |
12% |
| Public
Service |
7,577,840 |
4% |
| Academic
Support |
15,375,761 |
7% |
| Student
Services10,050,290 |
7,125,131 |
3% |
| Institutional
Support |
6,894,145 |
3% |
| Plant
Operation and Maintenance |
10,050,290 |
4% |
| Scholarships
and Fellowships |
21,302,307 |
10% |
| Designated
Expenditures |
32,497,083 |
14% |
| Auxiliary
Expenditures |
36,745,741 |
16% |
| Other
Expenditures |
316,987 |
0% |
| Total |
$
225,947,785 |
100% |
Revenues
and Expenditures | Grant Volume and
Enrollment |
