FSU Board of Trustees approves $2.36 billion operating budget for 2022-2023
The Florida State University Board of Trustees on Wednesday approved the university operating budget for the 2022-2023 fiscal year.
This year’s operating budget of $2.36 billion increased by 9% over last year.
The budget, estimated to be larger than that of 85 countries, includes new state funding for operational enhancements including the management of the State of Florida Data Center, the FAMU-FSU College of Engineering, the Institute of Politics and the National High Magnetic Field Laboratory.
The 2022-2023 Annual Capital Outlay Budget includes allocations for the College of Business’ Legacy Hall, which is anticipated to break ground this fall, a new Football Operations Facility, a new Interdisciplinary Research and Commercialization building, a new Student Union, and funds to begin planning a new Academic Health Center. The budget also allocates funds for work in life-safety and deferred maintenance of campus facilities.
The university’s operating budget injects an estimated $12 billion into the local and state economies annually, according to the FSU Center for Economic Forecasting and Analysis. That estimate includes over $4 billion in direct revenue or sales and over $81 million in spending by non-resident students, as well as $8 billion in lifetime earnings by recent (FY19-20) FSU graduates, based on the latest draft of the center’s annual report.
FSU’s graduation rates continue to soar
Florida State University’s strategic investments in student success continue to pay dividends as students are graduating with their bachelor’s degrees at the highest rate in school history.
The latest cohort of students (2016-2022) posted the best six-year graduation rate in university history at 85 percent, according to data that will be part of the State University System’s 2023 Accountability Plan.
FSU Board of Trustees Meeting - September 23, 2022
Florida State’s most recent four-year graduation rate tied its previous record of 74%.
The university’s commitment to student success also has fueled Florida State’s rapid rise in the U.S. News & World Report “Best Colleges” rankings over the past several years. On Sept. 12, U.S. News recognized FSU as the No. 19 public university in the nation —the fourth consecutive year it has placed in the Top 20.
O’Shea said FSU’s focus on continuous improvement in student success areas is not going to change.
“We want to do the best we possibly can for the students, their families, and our state and our country,” he said. “And we’re never going to stop. That’s a continuous mission for FSU, and I’m really proud to be part of a university that prioritizes students and does everything it can to help them be successful.”
Campus Notes: Florida State, FAMU, TCC score millions in record $101.5 billion state budget
Here are other items included in the 2021-2022 state budget:
Florida State University:
- Grants and Aids; $521,672,660
- Lottery fund; $71,303,155
- College of Medicine: $51,190,268
- FSU College of Business Building (Legacy Hall): $30,500,000 (PECO funding)
- Interdisciplinary Research Commercialization Building: $23,492,086 (PECO funding)
- Nationally Ranked Operational Enhancement: $15 million
- Institute for Child Welfare: $10 million
- FSU College of Medicine (Autism Program): $1.2 million
- Institute of Politics: $1 million
- College of Medicine, Lottery funds; $824,574
- Student Veterans Center: $500,000
- Florida Diagnostic and Learning Resources Centers; $450,000
- Boys and Girls State Housing: $200,000
- Cultural and Museum grants: $193,328
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