Funding for the operation of the University is derived from four main sources: general tax revenue, collections made by the University (tuition, etc.,), contracts and grants, and donations. The largest segment of the University’s budget funding comes from the State of Florida in the Educational and General fund. The beginning of the University’s Educational and General funding process takes place annually with the submission of the legislative budget request by the Board of Governors for the State University System. This request is prepared by the Chancellor and his staff working with the Universities. It is at this time new budget issues are developed and combined with the continuation and base issues. The House, Senate, and Governor negotiate until they agree on a final appropriation to the State University System.
Following the final appropriation, the Board of Governors Office develops an Allocation Document, which details the allocations to each university and documents the funded issues. Base funding sources are also specified at this time.
- Appropriated Budgets include the following Budget Entities:
- Educational and General - funded from State of Florida revenue.
- Incidental Revenue – funded by Tuition and Fees.
- Enhancement Trust – funded by Lottery Sales.
- Auxiliary Enterprises – funded by self-supporting functions.
- Contracts and Grants – funded by foundations, federal, state and local agencies.
- Student Financial Aid – funded by individuals and corporations as well as federal, state and local agencies.
- Student Activities and Intercollegiate Athletics – funded by student fees revenue.
- Concessions – funded by various vending activities.
- Fixed Capital Outlay Funds – comes from a gross utility receipts tax. These funds are used for the physical development of educational units. They are available for all levels of education. The Universities work with the Board of Governors to complete a three year prioritized list which is presented to the Legislature each year.