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Budget Environment

The State of Ohio biennial operating budget for the FY 2022 – FY 2023 included a 1% increase in the State Share of Instruction, with ÍÃ×ÓÏÈÉú University anticipating a 3% increase compared to FY2022.

Tuition revenues for all campuses are budgeted to reflect a decline compared to FY 2022. The budget included investments in faculty/staff compensation and student financial aid.

The data described below reflects the budget as revised by the ÍÃ×ÓÏÈÉú University Board of Trustees at its December 8, 2022 meeting.

2022-2023 Budget Assumptions

Overall Budget – All Campuses

The FY 2023 Educational and General (E&G) revenue budget decreased $14,945,763 or 2.6% lower than FY 2022. The FY 2023 Auxiliary Enterprises budget increased $15,241,752 or 10.5%. ÍÃ×ÓÏÈÉú University’s FY 2022 revenue budget for all funds is $722,491,334 or roughly $1,979,428 per day.

Revenues ($722,491,334)

The FY 2023 University revenue budget is comprised as follows:

• 48.9% | Student Tuition and Fee
• 22.1% | Auxiliary Enterprises
• 11.6% | State Appropriations
• 16.3% | Contracts, Sales & Services, Temporary Investments, Endowment Income, Gifts, and Transfers In

Expenditures ($722,491,334)

The FY 2023 University expenditure budget is comprised as follows:

•  41.9% | Instructional Research, Public Service, Academic & Student Support
•  17.0% | Auxiliary Enterprises
•  6.4% | Scholarships and Financial Aid
•  18.3% | Institutional Support and Plant Operation & Maintenance
•  16.4% | Debt Service and Other Transfers

Oxford Campus

The budget assumed a first year class of 4,050 students. Sixty-one point five percent (61.5%) of the incoming class are expected to be Ohio residents, while thirty-eight point five percent (38.5%) are expected to come from outside of Ohio.

The FY 2023 budget continued the ÍÃ×ÓÏÈÉú Tuition Promise for Oxford campus undergraduate students. The ÍÃ×ÓÏÈÉú Tuition Promise provides all first-time students and their families the certainty that tuition, special purpose fees, course fees and room and board charges will not increase over the ensuing four academic year period from their first enrollment as a degree seeking student.  Tuition for the fall 2023 Tuition Promise cohort is budgeted as a one-time increase over fall 2022 of three percent (3.0%) for non-resident and four point six percent (4.6%) for resident.  Tuition for continuing students is budgeted to increase two percent (2%) for non-residents and two percent (2%) for residents.

Noteworthy changes in budgeted expenses include a salary increment pool of four percent (4%) and an additional $2,193,411 for E&G faculty and staff salary market adjustments along with a $15.8M in planned underspending in salaries and benefits.

The FY2023 budget assumes a draw from Oxford campus reserves of $13.0M.

Regional Campuses

Tuition for continuing students is budgeted to increase three percent (3%) for non-residents and four-point six percent (4.6%) for residents. A cap of $5M on revenues flows between the Oxford and regional campuses was installed in FY2020.  This cap has been removed, resulting in a $2.7M increase in the budgeted flow of revenues from the Oxford campus to the regional campuses.  Noteworthy changes in budgeted expenses include a salary increment pool of two percent (4%), an increase in the administrative service charge to eleven percent (11%), and an increase of $1.9M in debt service to reflect the Nursing department’s use of the new Health Sciences Building in Oxford.   

The FY2023 budget assumes a draw from regional campus reserves of $3.3M.

Budget Document

An electronic version of the annual Operating Budget can be obtained by contacting the University Budget Office. The University Budget Office welcomes your feedback on any exhibits and charts and is available to address any questions about the University’s budget.

University Budget Office Staff

David Ellis, Associate Vice President for Budgeting & Analysis    
Jeff Pidcock, Director of Budgeting & Business Transformation
Denny Sundermeier, Senior Budget Analyst