On behalf of the Provost and the Chief Financial Officer, I am pleased to share with you the key elements of the budget for New York University for fiscal 2020 (which covers the period September 1, 2019 to August 31, 2020). The consolidated fiscal 2020 operating budget for New York University is $13.839 billion.
The budget discussion that follows focuses on the parts of New York University other than NYU Langone Health. The annual budget for the University apart from NYU Langone Health totals $3.493 billion and includes all academic, auxiliary, and administrative units at NYU New York, NYU Abu Dhabi, the New York-based budget of NYU Shanghai, and all global program sites.
The University budget provides the financial framework for the University’s mission of teaching and research by balancing resources with needs and aspirations. The budget for fiscal 2020 includes funding for several major initiatives, some of which are a continuation from prior years: (1) Affordability – the fourth consecutive year of reductions to the rate of increase in tuition, fees, room, and board charges for entering freshmen; (2) Research – Buildout of research development function designed to increase the competitiveness of NYU’s portfolio; expansion of the University’s data center capacity to serve an-ever increasing demand for high performance computing; and (3) Infrastructural investments to support the academic enterprise.
Operating budgets of the schools provide resources for several new academic initiatives, including investments in sciences, innovation, and start-up funding for new on-campus and online master’s and certificates programs. Budgets for University-wide services also enable investments in campus safety and IT security, digital accessibility and compliance.
The fiscal 2020 capital budget provides funding for multiple projects, including the continued development of the building at 181 Mercer Street (the site of the former Coles Sports and Recreation Center) which will provide modern, high-quality space designed specifically to meet the University’s long-term academic, residential, and athletic needs; completion of a fully renovated building at 370 Jay Street (Brooklyn) – the new centerpiece of NYU’s applied science initiative at the intersection of media, technology, and the arts; and full renovation of a building located at 404 Lafayette/708 Broadway – the first permanent home of the College of Global Public Health.
NYU will continue to be vigilant to ensure the proper financial balance between needs and resources and to maintain academic excellence as our highest priority.
VP, Budget, Financial Planning & Analysis
University - All parts of New York University other than NYU Langone Health
NYU Langone Health - The budgets for the School of Medicine and the Health System are expressed prior to eliminations of intra-Medical Center revenues of $1.004 billion.
NYU Langone Health System - is the sole corporate member of the following entities: NYU Langone Hospitals, Senior Housing Projects, and various other related organizations.