Dear Fellow Members of the NYU Community,
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 2017 (which covers the period September 1, 2016 to August 31, 2017).
The budget presentation in the pages that follow focuses on the parts of New York University other than the NYU Langone Medical Center (i.e., the School of Medicine and the Hospitals Center). The annual budget for the University apart from the NYULMC totals $3.075 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 sites (The consolidated operating budget for New York University, including the NYULMC is $9.440 billion).
The budget provides the financial framework for the University’s mission of teaching and research by balancing resources with need and aspiration. The budget includes two major initiatives announced by President Hamilton soon after taking office on January 1, 2016. First is establishing a renewed focus at NYU on equity, diversity and inclusion. A task force of faculty, students and administrators recommended the creation of a new senior-level Chief Diversity Officer position, and the fiscal 2017 budget includes funding for that position and related expenses. Second, the budget focuses on affordability of an NYU undergraduate education by holding the rate of increase in tuition, fees, room, and board charges for entering freshmen to 2.0% over the prior year – the lowest rate of increase in 20 years, and the lowest rate of increase among a peer group of colleges and universities.
The fiscal 2017 capital budget incorporates funding for planning and design for a new building at 181 Mercer Street (the site of the former Coles Sports and Recreation Center). When completed, the new building will provide modern, high-quality space designed specifically to meet the University’s long-term academic, residential, and athletic needs. NYU will continue to be vigilant about its budget to ensure the proper balance between needs and resources and to maintain academic excellence as our highest priority. I hope you will find this outline of NYU's fiscal 2017 budget to be informative.
Anthony P. Jiga
Vice President, Budget and Planning
(dollars in billions)
|NYU Langone Medical Center**||
*All parts of New York University other than the NYU Langone Medical Center, i.e., the School of Medicine and the Hospitals Center. The Hospitals Center is comprised of Tisch Hospital; Lutheran Hospital; Rusk Institute of Rehabilitation Medicine; NYU Hospital for Joint Diseases; and the Perlmutter Clinical Cancer Center.
**The fiscal 2017 budget is expressed prior to elimination of intra-Medical Center revenues of $0.520 billion. View the latest NYULMC annual report.