Illinois State University Board of Trustees Approves Internal Budget

The Illinois State University Board of Trustees today approved the FY2009 internal operations and grants budget. The budget is $350.8 million, which is a 6.3 percent increase from the FY2008 budget.

The Illinois Board of Higher Education requires public university governing boards to review and approve an internal budget each fiscal year in October. The budget is divided into the areas of instruction, organized research, public service, academic support, student services, institutional support, operations and maintenance of the physical plant and independent operations.

General revenue funds increased by $2.1 million, or 2.5 percent, over FY2008 appropriations. Less than 25 percent of institutional projected revenues will come from state appropriated funds, with more than 31 percent coming from the University Income Fund, which is primarily tuition revenue. All other funds represent approximately 45 percent of the University's operations and grants expected revenue. More than 40 percent of all revenues will be expended for core functions of instruction, research and public service, and more than 60 percent will be expended for personal services.