UNMC has budgeted $360 million for 2003-2004 to fund instruction, research and public service and to support academic, student, institutional and facilities services. The 2003-2004 UNMC operating budget, up from $345 million in 2002-2003, has been balanced and loaded into the SAP financial management system.
“Congratulations to everyone who worked on preparing this year’s budget,” said John Adams, assistant vice chancellor for budget and strategic planning. “Despite the state’s fiscal challenges, we have continued to move forward as a world-class institution, which excels in teaching, research and service.”
The July 1, 2003, budget grew by 4.2 percent over the prior year’s July 1 budget. UNMC continued to be mainly self-supporting, with only 26 percent of its funding coming from state general fund appropriations. The remaining 74 percent is funded from tuition, grants, contracts, patient and other service revenues. In 2002-2003, 29 percent of UNMC’s funding was from state general fund appropriations.
The downturn in the state’s economy drove state revenues lower than projections. Over nearly two years, UNMC’s state-supported budget has been reduced by $11.2 million, or 11.7 percent.
“Because of general fund cuts, we needed to find other sources of income to continue our growth,” Adams said. “Those increases have been in the area of tuition, patient revenue and research funding.”