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 2018 (which covers the period September 1, 2017 to August 31, 2018). The consolidated fiscal 2018 operating budget for New York University is $11.945 billion.
Notes for this chart can be found below
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 the NYU Langone Health totals $3.273 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 2018 includes continuation of two major initiatives announced by President Hamilton in the prior fiscal year: full year funding for a new Chief Diversity Officer position and related expenses; and the second consecutive year of focus on the affordability of an NYU undergraduate education by holding down the rate of increase in tuition, fees, room, and board charges for entering freshmen. The rate of increase for fiscal 2018 is 2.3% over the prior year – the lowest among a peer group of 25 private colleges and universities. Operating budgets of the schools provide for several new academic initiatives, including implementation of a new master plan for the Tandon School of Engineering, and continued planned enrollment increases in the College of Global Public Health and at the NYU Abu Dhabi and NYU Shanghai portal campuses. Budgets for University-wide services will provide for new investments in Public Safety emergency management and communications, and expanded service in Brooklyn; a new enrollment management system for graduate programs; and new undergraduate student success initiatives.
The fiscal 2018 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. In Brooklyn, the fully renovated 370 Jay Street opens in fiscal 2018 as the centerpiece of NYU’s applied science initiative at the intersection of media, technology, and the arts. Departments and programs from several schools will be located there.
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.
Anthony P. Jiga
Vice President, Budget and Planning
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 $.617 billion.
NYU Langone Health System - is the sole corporate member of the following entities:
NYU Langone Hospitals - Tisch Hospital; NYU Langone Hospital-Brooklyn; Rusk Institute of Rehabilitation Medicine; NYU Langone Orthopedic Hospital; and the Perlmutter Clinical Cancer Center.
Affiliates - NYU Winthrop Hospital (as of 4/1/17), Lutheran Augustana Center for Extended Care and Rehabilitation, Inc, Senior Housing Projects, and various other related organizations, including Shore Road Community Services, Inc.; Sunset Bay Community Services, Inc.; Community Care Organization, Inc.; LMC Community Foundation; Lutheran CHHA, Inc.; Southwest Brooklyn Dental, Inc.; OHP Prepaid Health Services Plan, Inc.; and two Professional Corporations.