U of M launches “Our Budget” webpage
The University of Minnesota announced the launch of a simplified “Our Budget” webpage to help all Minnesotans understand the University’s budget.
“Like any large, complex institution, we know that our budget is not something that anyone is likely to pick up for some light reading,” said Matt Kramer, vice president for University Relations. “But we also know that understanding our budget, even at a high level, is the first step in assessing the impact the University has on each and every Minnesotan. We created this web page to help all of our fellow citizens understand where our money comes from and what we spend it on.”
The University’s budget is made up of both restricted and unrestricted dollars. Restricted dollars, which come from federal grants and other sources, can only be spent in ways consistent with the funder’s requirements. Unrestricted dollars, which come primarily from state support and tuition payments, are much more flexible and allow the University to use those dollars systemwide to support students and advance the institution’s public service and research.
The web page will be regularly updated to answer questions from the Legislature and others. This will provide a regular, easy to use resource to understand a highly complex process. Full budget details will also remain available.