BOT Approves Internal Budget

Date: 10/27/06
Contact: Kathy Beal

Illinois State University's Board of Trustees today approved the FY2007 internal operations and grants budget. The budget is $305.7 million, which is a 2.5 percent increase from the FY2006 budget.

The Illinois Board of Higher Education requires public university governing boards to review and approve an internal budget each fiscal year in October. The budget is divided into the areas of instruction, organized research, public service, academic support, student services, institutional support, operations and maintenance of the physical plant and independent operations.

General revenue funds increased slightly more than $1 million for 26.6 percent of the total FY2007 budget. Less than 30 percent of institutional projected revenues will come from state appropriated funds, with more than one quarter of all revenues coming from the University Income Fund, which is primarily tuition revenue. All other funds represent approximately 46 percent of the University's operations and grants expected revenue. Close to 37 percent of all revenues will be expended for instructional purposes, and more than half will be expended for personnel.