FSU Board of Trustees approves $2.172 billion operating budget
The Florida State University Board of Trustees on Thursday approved the university operating budget for the new fiscal year.
The 2021-2022 operating budget of $2.172 billion increased by $317 million over last year, largely due to federal stimulus funds allocated to lessen the economic impact of COVID-19 and state funding for significant capital projects.
The new budget also takes into account anticipated growth in enrollment of first-time-in-college students, which is reflected in both revenues and expenses. It is the first time in the university’s history the budget will exceed $2 billion.
The 2021-2022 Annual Capital Outlay Budget of $287.2 million includes $23 million for the new Interdisciplinary Research Commercialization Building, which will break ground later this summer, as well as funding for ongoing projects such as the Oglesby Student Union expansion, which is scheduled to be completed later this year.
The budget includes nearly $17.5 million in new state funding, including $10 million in recurring funds from the state to support the Florida Institute for Child Welfare as it executes legislative mandates passed by the Florida Legislature in 2020 and 2021. There is no new discretionary funding.
The university’s operating budget injects an estimated $14 billion into the local and state economy, according to the FSU Center for Economic Forecasting and Analysis. That estimate includes $4.1 billion in direct revenue or sales and $98 million in spending by non-resident students, as well as $8.89 billion in lifetime earnings by the most recent (FY18-19) FSU graduates, based on the latest draft of the center’s annual report.
While Florida State’s impact on the local and state economy is significant, the institution remains one of the top five most efficient universities in the country, according to data from U.S. News & World Report.
“We do more with less than any other university in the nation,” said Kyle Clark, vice president for Finance and Administration. “We will continue to streamline processes and build upon operational efficiencies and direct those savings into areas that support our strategic plan.”
JUNE 03, 2021 Legisletter
Dear Seminole Family,
Yesterday Governor DeSantis signed into law the 2021-2022 budget of $101 billion along with vetoed items totaling $1.5 billion. I am pleased to report that all of FSU’s projects were funded. The budget includes funding for the following projects:
| Interdisciplinary Research Commercialization Building | $23,492,086 |
| FSU College of Business Building (Legacy Hall) | $30,500,000 |
| Boys and Girls State Housing | $200,000 |
| Student Veterans Center | $500,000 |
| Nationally Ranked Operational Enhancement | $15,000,000 |
| Institute of Politics | $1,000,000 |
| Institute for Child Welfare | $10,000,000 |
| FAMU/FSU College of Engineering | $14,541,522 |
| College of Medicine | $51,173,091 |
I am grateful for all of the support shown by so many stakeholders in getting to this final outcome. I especially want to recognize our friends in the Senate and in the House, the Executive Office of the Governor, our on-campus legislative liaisons, President Thrasher, and the campus administration for their contributions to our success.
Best wishes for a wonderful summer and I look forward to working with you when legislative hearings begin for the 2022 Legislative Session this fall.
GO ‘NOLES!
Clay
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