Fiscal 2023 Budget
The budget details provided are for the activities of New York University other than NYU Langone Health. The annual budget for the University, apart from NYU Langone Health, totals $3.957 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 teaching and research mission by balancing resources with needs and aspirations. The budget for the fiscal year 2023 includes funding for the following key initiatives:
(1) Affordability – NYU has continued to make progress since the start of its affordability focus in the fiscal year 2016 - from 4th most expensive to the 48th in fiscal year 2022 in the Chronicle of Higher Education ranking. Fiscal year 2023 is the seventh consecutive year where NYU’s tuition, fees, room, and board increase has been below plan. In FY23 the budget also includes a significant incremental investment in financial aid; (2) Academic Excellence – investments for recruiting and retaining a diverse, world-class faculty; (3) Investments in research, academic excellence, and student success.
Fiscal year 2023 capital budget includes the continued development of a new building at 181 Mercer Street (the site of the former Coles Sports and Recreation Center.) When completed, the new facility will provide modern, high-quality space explicitly designed to meet the University's long-term academic, residential, and athletic needs. The capital budget also includes additional projects under the Chemical Biology initiative, including renovation of Silver Building Floors 9 and 10 and 25 West 4th Street; continuation of Tandon School of Engineering's Capital Plan; renovation of Rubin Hall Dormitory and Goddard Hall; and capital replacement projects focusing on emissions reductions and building maintenance..
NYU will continue to balance the needs and financial resources to strengthen its academic and research excellence and protect the progress on affordability for an increasingly diverse student body to ensure NYU's place as a university in the 21st century.
Vice President, 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 before eliminations of intra-Medical Center revenues of $1.196 billion.
NYU Langone Health System – is the sole corporate member of the following entities: NYU Langone Hospitals and various other related organizations.