University Budgets, UA Tech Park on ABOR Agenda This Week
The Arizona Board of Regents will consider the 2019 annual budgets for the three state universities during this week's meeting at Northern Arizona University.
Total revenues for the universities are projected to be $5.4 billion – an increase of roughly $200 million over the 2018 budget.
State general fund appropriations of $725.4 million make up 13 percent of the total 2019 budget – a $20.6 million increase over last year. Tuition and fee revenue is projected at $3.07 billion, an increase of $138 million over the 2018 budget.
The UA is projecting $2.135 billion in total revenue for the 2018 fiscal year, a $28 million increase from 2018. Net tuition and fees totaling $670.3 million and research grants and contracts totaling $655 million account for nearly 62 percent of the UA's total revenue.
The UA's base budget for fiscal year 2018 is $1.19 billion, which accounts for employee salaries, benefits, enrollment growth-related expenditures and various administrative costs.
The budget, developed with input from student leaders, faculty, staff and administration, supports the key metrics outlined in the University's new strategic planning process.
Other items on the regents' agenda (PDF) include:
- The UA will ask the board to review an update on development of the UA Tech Park at The Bridges and The Bridges Vision and Concept Plan. Initial plans for The Bridges began in 2007 when the UA acquired 54 acres of land at 36th Street and Kino Parkway through a land trade with 5151 East LLC, a joint venture of KB Home and Lennar Homes. Since 2015, the UA and Tech Parks Arizona have engaged in extensive planning efforts directed at establishing The Bridges as the epicenter of the UA's technology commercialization activities. Tech Parks Arizona is the unit that oversees the UA Tech Park at Rita Road, the UA Tech Park at The Bridges and the Arizona Center for Innovation.
- The board will be asked to approve the purchase of a residence for UA President Robert C. Robbins and future University presidents. The home now occupied by Robbins, located just east of campus, was purchased by the UA Foundation in August. In the proposal before the board, the UA says that purchasing the home from the Foundation would allow the University to better manage the building and grounds, and more efficiently prepare the property for presidential events.
- On Friday, ABOR staff will provide the board with a recap of the legislative session and a review of the state budget.
- The board will discuss graduate earning power by undergraduate degree major.