Moneyed Interests To Be Investigated

Do you ever wonder where your $21,484 out-of-state tuition goes? Or the $6,378 you pay for room and board on top of that, how about the $8.10 for dinner at Simpson’s Dining Hall? Over the course of this semester UVM’s budget will be analyzed and broken down, showing how UVM allocates its funds. How much of your tuition goes toward your professors, how much goes toward administrative costs? All of UVM’s financial and budget information is available to the public, the most informative being the yearly sourcebook which is available online at UVM’s Financial Analysis and Budgeting homepage, www.uvm.edu/~ofabweb. UVM’s Total Operating Budget for 2003 is $371 million up from $348 million in 2002. The Total Operating Budget is divided into three sections that will be gone into with greater detail in future installments. The General Fund Revenue Budget that totals $172 million and is the sum of the tuition, state appropriation, and other income supporting the administrative and academic departments. The Income/Expense Activities Budget totaling $81 million is made up of self supporting operations such as the UVM Bookstore, Residence System, etc.The Current Restricted Fund Budget which totals $118 million is made up of grants, gifts, and endowments. 59 percent of the General Fund Revenue Budget’s $172 million comes from net tuition with 41 percent coming from out-of-state tuition and 8 percent coming from in-state tuition. In 2002 net tuition and fees made up 35.3 percent of UVM’s revenue, state appropriation made up 9.7 percent, $35,058,595 to name a few sources of revenue. In weeks to come your tuition will be broken down dollar by dollar to show by percentages where your tuition goes, you maybe surprised by the numbers. The specific budgets of Dining Services and the Residence System will also be analyzed.