The following key budget and financial facts for FY11 (July 1, 2010 to June 30, 2011) will provide a general overview of the Plymouth State Budget and related financial information. All numbers are rounded to the nearest million.
Campus budget is divided into two primary categories: Education and General (E & G) budget (primary operating budget for the University) and the Auxiliary Budgets (units on campus that generate their own resources through specific fees or revenues). Auxiliary units on campus are: Residence Life, Student Dining, HUB (Student Center), Telecommunications/Networking, Student Health and Wellness, Copying, Welcome Center/Ice Arena, Parking/Shuttle, and Summer Conferences.
- The total campus budget for FY11 (including auxiliaries) is approximately $103M; the Education and General portion of that is $74M, while auxiliaries represent $29M.
- State appropriation represents approximately 13 percent of the total campus budget or $13.4M.
- Tuition and fees are the largest source of revenue for the campus, representing 75 percent of E & G budget or $55M.
- Financial aid budget for FY11 is $9.7M, or 13.2 percent of the E & G budget.
- Tuition discount rate (financial aid expressed as a percent of tuition revenues) is 19 percent. Put another way, for every dollar the University charges in tuition, about 19 cents is given back in the form of financial aid.
- Salaries and benefits are the largest category of expenses in the budget, representing about 66 percent of the total E & G budget or $49M.
Summary of Potential State Appropriation Impacts
5 percent State Appropriation Reduction = $700,000 budget reduction to PSU (1 percent E&G budget reduction)
45 percent State Appropriation Reduction = $6M budget reduction to PSU (8 percent E & G budget reduction)