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About University Budget

This office provides systemwide leadership for biennial budgeting in alignment with the State of Minnesota, creating the annual operating budget of the University of Minnesota, monitoring institutional and unit level financial activities and management, and financial planning, forecasting, analysis, and oversight.

Understanding the University's Budget

University's Annual Operating Budget

The annual operating budget is developed in adherence with the budget principles and strategies used to guide the University budgetary framework and decisions over the last several years:

  • Advance the University's quality and competitiveness through targeted and timely investment in mission-critical academic and capital priorities.
  • Compensate, support and retain talented faculty and staff.
  • Continue to improve financial access and affordability for students.
  • Take additional strategic actions to grow and stabilize revenues including state, sponsored, and private support, as well as revenue generated through educational programs.
  • Reduce current and projected administrative costs.

The University of Minnesota's annual operating budget for fiscal year 2020 is $4.2 Billion. 

Board of Regents approved FY2024 Annual Operating Budget Projected Current Fund Revenues:

Budgeted revenues total $4.5 Billion. That amount is made up of:

  • O&M appropriation of $686.6M (15% of the total) 
  • Tuition $1,051.3M (23% of the total)
  • Other unrestricted $797.9M (18% of the total)
  • Auxiliary $445M (10% of the total)
  • Restricted $765.8M (17% of the total)
  • Sponsored $780M (17% of the total).
Pie chart of the fiscal year 2024 budgeted revenues. Described in text on page above image.

Recommended and Approved Budgets

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What is a Biennial Budget?

Every two years, the University of Minnesota participates in the state's budget development process by submitting (in accordance with state instructions) descriptive narrative about the University and requests for continued or increased state appropriations. The University's submission is developed in the summer and fall of each even numbered year for the two-year budget cycle that begins the following July. The process to develop the Biennial Budget Request is led by the President and the package is approved by the Board of Regents before it is submitted. The state generally approves the University's biennial appropriation in May of each odd-numbered year.

Annual Operating Budget

Recommended Budget

The President's FY25 Operating Budget Recommendation has not yet been made.

Approved Operating Budgets

Capital Budget: Six Year Plans and Approved Capital Budgets

Capital budgeting is the planning of long-term projects. Management must allocate the University's limited resources between competing opportunities (projects), which is one of the main focuses of capital budgeting. Capital budgeting projects may include a wide variety of investments, including but not limited to, minor roof repairs, whole building renovations, repairs to existing infrastructure, and new construction. Because the amount of capital resources available at any given time for projects is limited, management needs to use capital budgeting techniques to determine which projects will be advanced over time.

Board of Regents policy directs the administration to prepare an annual capital improvement budget and a six year capital plan.

Six-Year Plans

Approved Capital Budgets

Contact Us

Campus mail: 334B Morrill Hall MC 0263
Main Phone Number: 612-625-4517 | Fax Number: 612-626-2278
Email: [email protected]

100 Church St SE, Minneapolis, MN 55455