MParents: Financial Information

Financial Information

One of the most common questions University staff hear from parents of undergraduates is, "Where does my money go?"

Running a university of this size is a big business. The accounting system of the University maintains eight separate funds, classified on the basis of their source of revenue and the uses made of them. Student fees are put into the General Fund. The General Fund is composed mainly of student fees and state appropriations. The General Fund is spent on the University's primary programs of teaching, research, public services, and support programs such as student advisory services, student aid, and library services. Some of the University's other funds are also used to support academic and student service activities. Other funds, such as the Student Loan Fund, Endowment, and other Invested Funds, can only be used for specific purposes. Money from the University's various funds cannot be transferred back and forth at will. For example, money from the General Fund cannot be used to paint the seats in the football stadium or decorate a lounge in a residence hall, because these operations use separate funds.

Auxiliary activities do not receive money from the General Fund or your student's tuition dollar. These activities include the University Hospitals, University Housing, Intercollegiate Athletics, Parking Operations, Student Publications, and University Unions. Details of the University's financial operations and the various funds are published in a Financial Report at the end of each fiscal year.