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Friday, June 17, 2016

UMD Fiscal Year 2017 State Funding Allocations

Dear Campus Community:

On Friday, June 10, the University of Minnesota Board of Regents approved the university's budget for the 2017 fiscal year, which begins on July 1, 2016.  UMD's allocation is detailed below.  As you can see, we received additional state resources this year, even though the University of Minnesota system did not receive any additional state funding for general operations.  In addition, our undergraduate tuition will see no increase this year.  Soon, I will send another budget communication, which will provide additional details about the status of our budget.  I will also give you updates during the summer on the progress of our budget reduction strategies.   Meanwhile, contact me or Steve Keto if you have questions or would like additional information.

Best wishes,

Lynn Black   

UMD FY16-17 O & M Allocation

UMD’s Fy16-17 O&M Allocation from State funds will be $41,765,343, which is an increase of $3,151,793and includes the following additions/reductions:

·        $500,000 for Strategic Enrollment Management (SEM) Initiatives
·        $198,000 for Repairs and Replacement
·        $328,172 for Police Initiatives
·        $1,201,013 for general Compensation increases (Merit and bargaining unit increases).
·        $650,000 for Recruitment & Retention Initiatives
·        $309,541  for MnDRIVE faculty line commitments
·        ($34,933) offset for the net cost of structural changes in the cost pool 
·        $3,151,793 Total

Estimated Fy17 budgeted tuition is set at $110,131,191, which includes a net decrease in budgeted tuition from Fy 15-16 to Fy16-17 of ($1,686,684). 
o   UGRD-resident tuition rates are held at 0%; 
o   UGRD non-resident and GRAD tuition rates increased by 2.5%.

University System Central Reserves allocation for Glensheen will be $350,000 recurring.