Fiscal 2019 Budget
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 2019 (which covers the period September 1, 2018 to August 31, 2019). The consolidated fiscal 2019 operating budget for New York University is $13.097 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 the NYU Langone Health totals $3.378 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 2019 includes funding for several major initiatives, some of which are a continuation from prior years: (1) Affordability – the third consecutive year of reductions to the rate of increase in tuition, fees, room, and board charges for entering freshmen; (2) Student Success – programs aimed at improving student retention and graduation rates; and (3) Equity, Diversity, and Inclusion, Work-Life, and Sustainability – continued investments in these key institutional priorities.. Operating budgets of the schools provide for several new academic initiatives, including a focus on Chemical Biology – an interdisciplinary field that seeks to identify molecular solutions to challenges in biology and medicine; start-up funding for new on-campus and online master’s and certificates programs; and continued growth in the College of Global Public Health and at the NYU Abu Dhabi and NYU Shanghai portal campuses. Budgets for University-wide services will also provide for additional investments in campus safety and IT security, digital accessibility and compliance.
The fiscal 2019 capital budget incorporates funding for multiple projects, including 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 building 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.
SVP Finance and Budget and Chief Financial Officer
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, 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.