Repository: UIHistories Project: Board of Trustees Minutes - 1964 [PAGE 210]

EXTRACTED TEXT FROM PAGE:

1962]

U N I V E R S I T Y OF I L L I N O I S BIENNIAL BUDGET FOR OPERATIONS. 1963-65

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Present Budget The biennial budget of the University of Illinois includes only those funds that are appropriated by the General Assembly. These legislative appropriations are called "General Funds," and for the current biennium they will account for approximately 62 per cent of the University's expenditures for all purposes. The following is a breakdown of the 1961-63 biennial budget, showing the two sources of General Funds and their allocation over the two years of the biennium: 1961-63 Source of Funds 1961-62 1962-63 Total General Revenue (Tax) Fund $63 500 000 $66 200 000 $129 700 000 University Income Fund 7 528 000 7 528 000 15 056 000 Total $71 028 000 $73 728 000 $144 756 000» In addition to these General Funds, the University receives financial support in the form of gifts, grants, and contracts from many outside sources, including the federal government, private foundations, industry, and individual donors. Furthermore, the University operates various auxiliary enterprises that are largely self-supporting, such as residence halls, the union building, and bookstores. The income from these various sources represents about 38 per cent of the funds expended annually by the University. Since the use of such funds is limited to designated purposes, they are called "Restricted Funds" and do not require appropriation by the General Assembly. T h e following table presents a comparison of expenditures of the two types of funds, for the two fiscal years of the present biennium: 1962-63 Per Per Amount cent Amount cent General Funds $ 71 028 000 63 $ 73 728 000 62 Restricted Funds 42 063 231 37 44 989 410 38 Total $113 0 9 1 2 3 1 100 $118 717 410 100 From the two foregoing tables it can be seen that state-tax funds account for only about 56 per cent ($66,200,000) of the total of expenditures anticipated by the University in 1962-63. University income provides an additional 6 per cent ($7,528,000), to" bring the appropriation of General Funds to 62 per cent ($73,728,000) of the over-all total. Based upon figures for 1961-62, annual expenditures for the main types of University operations are approximately as follows, in terms of percentages: 39 per cent for instruction (mostly General Funds) 29 per cent for research (mainly Restricted Funds) 11 per cent for extension and public service, exclusive of Research and Educational Hospitals (about equally divided between General and Restricted Funds) 8 per cent for Research and Educational Hospitals (mainly General Funds) 13 per cent for self-supporting auxiliary enterprises and student aid (Restricted Funds) These percentages reflect both the direct and the indirect costs of the indicated functions. That is to say, the expenses of administration, retirement benefits, library, and physical plant have been allocated to the several classes of operations, approximately in proportion to their respective direct costs. The average cost of undergraduate instruction in 1961-62 was $1,162 per student for the Urbana-Champaign campus and $1,068 for the Chicago Undergraduate Division (two-year program only). The unit costs of graduate and professional education are considerably higher, but these students constitute less than 25 per cent of the total enrollment. It is estimated that the average over-all

1 All figures in this statement include funds for the Police Training Institute, for which a separate appropriation was received in 1961-63. Since the budget for the Institute will be included in the University's regular operating appropriation for 1963-65, the Institute's budget for 1961-63 has been consolidated here with that of the University in order to facilitate comparisons of the two sets of biennial figures.

1961-62