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UIC’s Budget

University Budget

The BSO (also known as the “Budget Summary for Operations”) is an annual presentation to the Board of Trustees that is the final result of an almost two-year budget planning cycle led by university and campus administration, in conjunction with Board of Trustees’ oversight, review, and approval. It is comprised of supporting schedules detailing the University of Illinois budget by campus, college, and department. It is prepared at the System-level by the Office of Business and Financial Services (OBFS). The University Office for Planning and Budgeting maintains copies of this document and tracks historical budgets. Links to historical BSO’s can be found at the bottom of this page.

The University’s budget is comprised of four categories of funds:

  1. General Operating funds comprised primarily of state appropriations and tuition and fees that are used to support academic, research, economic development, and public service activities
  2. Hospital funds related to the hospital and clinics that are part of the University of Illinois Hospital and Health Sciences System
  3. Restricted funds that are available only for those programs and purposes specified by the donor, grantor, contractor, or state statutes determining the use of those funds
  4. Employee benefit payments made by the state on behalf of the university system, (payments on behalf).

UIC’s total FY24 budget including the Hospital is $3,977,172,000 (UIC: $2.5B; UI Hospital: $1.4B).

FY21 University Budget Revenues Heading link

UIC Pie chart

UIC Sources

TypeAmountPercentage
State Appropriations223,6055.6%
Income Fund530,27413.3%
Overhead Recovery178,9454.5%
Revenue Generating397,97010.0%
Total Hospital(excluding POB)1,166,29029.3%
Gifts, Grants & Contracts736,95018.5%
AFMFA19,4730.5%
Payments on behalf723,66518.2%

FY24 University Budget Expenses Heading link

Pie chart of expenses

UIC Expenses (Dollars in Thousands)

CategoryAmountPercentage
Salaries and Wages1,539,11038.7%
Benefits96,4602.4%
Supplies, Services & Equipment1,278,01832.1%
Utilities & Facilities/ O&M98,5252.5%
Student Aid/Scholarships154,6503.9%
Debt Service Transfers Mandatory46,5361.2%
Capital & Deferred Maintainance Transfers20,7350.5%
AFMFA19,4730.5%
Payments on Behalf723,66518.2%

Budget Summary for Operations (BSO) Heading link