UNIVERSITY OF THE VIRGIN ISLANDS
UNIVERSITY OF THE VIRGIN ISLANDS Fiscal Year 2020-2021 Proposed Operating Budget REVENUES FY2021 Baseline Budget FY2021 Proposed Adjustments FY2021 Proposed Operating Budget Tuition & Fees $13,454,397 ($1,023,427) $12,430,970 Appropriations $25,580,712 $0 $25,580,712 Government Grants & Contracts $1,355,000 $0 $1,355,000 Private Grants & Contracts $1,790,447 $0 $1,790,447 Sales & Services Education $4,000 $0 $4,000 Sales & Services Auxiliary $4,697,101 ($2,292,246) $2,404,855 Other Revenues $304,252 $0 $304,252 Increase in FY2021 Appropriations - General Operating Requirements $0 $70,000 $70,000 Other Revenues- CARES Act Institutional Allocation $0 $320,868 $320,868 Other Revenues - Governor's CARES Act Allocation $0 $500,000 $500,000 Other Revenues - HBCU Loan Deferral (FY2020 Reimbursement) $0 $2,988,364 $2,988,364 2.75% Contribution from Reduction in Appropriations Funded Programs (Exhibit B) $0 $127,295 $127,295 Total Revenues $47,185,909 $690,854 $47,876,763 EXPENDITURES FY2021 Baseline Budget FY2021 Proposed Adjustments FY2021 Proposed Operating Budget Instruction $13,025,161 $ …
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UNIVERSITY OF THE VIRGIN ISLANDS Fiscal Year 2020-2021 Proposed Operating Budget REVENUES FY2021 Baseline Budget FY2021 Proposed Adjustments FY2021 Proposed Operating Budget Tuition & Fees $13,454,397 ($1,023,427) $12,430,970 Appropriations $25,580,712 $0 $25,580,712 Government Grants & Contracts $1,355,000 $0 $1,355,000 Private Grants & Contracts $1,790,447 $0 $1,790,447 Sales & Services Education $4,000 $0 $4,000 Sales & Services Auxiliary $4,697,101 ($2,292,246) $2,404,855 Other Revenues $304,252 $0 $304,252 Increase in FY2021 Appropriations - General Operating Requirements $0 $70,000 $70,000 Other Revenues- CARES Act Institutional Allocation $0 $320,868 $320,868 Other Revenues - Governor's CARES Act Allocation $0 $500,000 $500,000 Other Revenues - HBCU Loan Deferral (FY2020 Reimbursement) $0 $2,988,364 $2,988,364 2.75% Contribution from Reduction in Appropriations Funded Programs (Exhibit B) $0 $127,295 $127,295 Total Revenues $47,185,909 $690,854 $47,876,763 EXPENDITURES FY2021 Baseline Budget FY2021 Proposed Adjustments FY2021 Proposed Operating Budget Instruction $13,025,161 $471,967 $13,497,128 Research $940,027 $0 $940,027 Public Service $745,453 $0 $745,453 Academic Support $3,336,067 $0 $3,336,067 Student Services $3,520,869 $0 $3,520,869 Institutional Support $12,995,051 $0 $12,995,051 Operations/Maintenance of Plant $7,889,443 $0 $7,889,443 Student Aid $503,363 $0 $503,363 Auxiliary Enterprises $4,105,372 ($921,929) $3,183,443 Transfers Match (AES & CES) $1,234,530 $0 $1,234,530 Unfunded GERS Employer Contribution Increase Effective January 2020 $0 $166,246 $166,246 Unfunded FY2020 Health Insurance Premium Increase - Employer Contribution (UVI absorbed 100% of increase) $0 $425,254 $425,254 Unfunded FY2021 Health Insurance Premium Increase - Employer Contribution (UVI absorbed 100% of increase) $0 $436,983 $436,983 Undistributed Component Unit Budget Reduction of 2.75% $0 ($1,053,576) ($1,053,576) Enrollment Strategic Goal $0 $50,000 $50,000 Total Expenditures & Transfers $48,295,336 ($425,055) $47,870,281 Net Operating Position ($1,109,427) $1,115,909 $6,482 *Approved by UVI Board of Trustees on November 20, 2020.