Budget overview
Fiscal year 2024 general fund budget
Revenue
$22,573,509 - Instructional Fee Income (48%)
$21,902,088 - State Appropriations (47%)
$ 2,570,354 - Other Income (5%)
$47,045,951 - Total Revenue
Expense
$34,475,137 - Compensation (73%)
$ 9,155,843 - Transfers (19%)
$5,424,972 - University Tax
$2,156,773 - University Assessments
$1,574,098 - Other Transfers
$ 2,576,971 - General Expense, Capital, Travel, Reserves (6%)
$ 37,480 - Capital
$ 4,080,153 - General Expense
$-1,641,445 - Reserves
$ 100,783 - Travel
$ 838,000 - Financial Aid (2%)
$47,045,951 - Total Expense
All funds budgeting
| Source Order | Fund | Source | Amount |
|---|---|---|---|
| 1 | General Fund | Tuition & State Appropriations | $47,045,951 |
| 2 | Designated Fund | Revenue Generating, Research | $6,980,532 |
| 3 | Auxiliary Fund | Housing, Dining, Ogle | $2,929,300 |
| 4 | Restricted Fund | Restricted use – i.e. scholarships | $395,590 |
| 5 | Plant Funds | Renewal & Replacement, Capital | $6,180,339 |
| 6 | IU Foundation | Donor Gifts | $5,394,773 |
Total | $68,926,485 |
How do we grow our fiscal resources?
- Instructional Fee Income – Increase Credit Hours
- State Appropriations – Outcomes-Based Funding metrics
- Designated Funds – Budgeted plans and initiatives
- IU Foundation – Fundraising and Fund Utilization
Considerations for budget allocations
Link Budget Allocations & Funding Decisions to IU Southeast 2030 Strategic Plan.
3 Pillars
- Student Success & Opportunity
- Transformative & Creativity
- Service to our State & Beyond
Assess budget and initiatives — are they working?
Outcomes-based performance funding - Indiana Commission for Higher Education (ICHE)
- Enrollment — Going-Rate, Adult
- Completion — On-Time, Overall, Adult, Low-Income, STEM
- Economic — Graduate Retention, Research
Potential funding
Fiscal Year 2024: $211,818
Fiscal Year 2025: $211,818
Total: $423,636
IU foundation and alumni
- Cultivation of New Gifts
- Utilization
- Collaboration
- Engagement
Benefits
- Active Alumni Base
- Community Engagement
- Donor Gift Utilization
- Recruitment
- Retention
- Future Gifts
- Opportunities for Students
- Business Partnerships
Fall 2023 update and fiscal year 2024 outlook
Fall 2023 credit hours
Budgeted: 36,898
Current: 41,787
Gap to targets: 113.25%
Difference: 4,889
Fall 2023 headcount
Projected: 3,391
Current: 3,752
Gap to targets: 110.65%
Difference: 361
Budget impact (tuition)
Fall 2023: $1.5 Million