Every budget is a balance of resources and needs, guided by obligations and priorities. With this document, the budget for New York University's Washington Square Campus, we are sharing with you the key elements of our budget for fiscal 2010, and the needs, priorities, and external economic forces that shaped it.
The operating budget for fiscal 2010 (which covers the period September 1, 2009 to August 31, 2010) totals $2.064 billion. This budget includes all of NYU's schools and programs other than the School of Medicine and the NYU Langone Medical Center. Here are some highlights of the budget, including charts illustrating operating revenues and expenses and the capital budget.
In a national study of 522 private institutions' endowments at June 30, 2008, NYU's total endowment (including the School of Medicine) was the 21st largest in total size, but 184th in endowment per student (or $70,398 per student).
For fiscal 2009 (9/1/08 - 8/31/09), the return on the University's endowment was
-11.3%. This return was generated during an extremely difficult period, in which financial markets experienced stunning declines and major universities reported deep losses and liquidity concerns. Losses in the broad market indices were greater than NYU's - for example, the S&P 500 Index declined by 18.3% during this period. Over time, the University's endowment has been invested in a relatively conservative manner; the relative success in minimizing NYU's recent endowment losses can be attributed in significant part to the foresight of the investment committee of the Board of Trustees, which early on sensed the contours of the global financial crises and directed the University's assets be reallocated to reduce risk.
In the fall 2009 semester, the University employs 6,658 individuals in academic positions as full-time and part-time faculty members and researchers, and 5,206 individuals as full-time and part-time technical, clerical, service, and administrative employees. Between Fall 2008 and Fall 2009, the number of academic personnel increased by 5.0%, and technical, clerical, service, and administrative personnel declined by 4.7%. Slightly more than ½ of the decrease in technical, clerical, service and administrative headcount resulted from the transfer of positions from University employment to employment with a firm that provides building cleaning and maintenance services under contract to the University. In addition, throughout the fiscal year, the University will employ approximately 8,000 part-time graduate and undergraduate students.