Operating Budget
Getting the money
As with any organization, money comes in and then it is spent. At Washburn University, sources of funds include tuition, a county-wide retail sales tax, state funds, fundraising, and proceeds from borrowing. In the fiscal year ending June 30, 2003, the major sources of funds for the operation of the university were as follows:
| Source of Funds | FY 03 Amount | % of General Revenue |
|---|---|---|
| Student tuition and fees | $22.6 million | 43.1% |
| Sales tax | 15.5 million | 29.5% |
| State aid | 10.1 million | 19.2% |
Spending the money
Getting a handle on the University's financial situation is complicated by the various funds from which money is spent. Generally, people are most familiar with the operating budget. In the fiscal year ending June 30, 2003, the major uses of funds for the operation of the university were as follows:
| Use of Funds | FY 03 Amount | % of General Expense |
|---|---|---|
| Salary & Benefits | $40.3 million | 76.1% |
| Operating Expenses | 10.8 million | 20.3% |
| Equipment | 1.9 million | 3.6% |
This chart does not include monies from other funds that are expended for capital projects and debt service payments or operating costs expended from restricted funds.