The operational budget is a financial plan outlining expected revenues and expenses over a specific period, which is annually for UMBC. It serves as a roadmap for managing finances by estimating income from various sources and allocating funds to different categories and day-to-day expenses such as salaries and fringes, financial aid, campus operations (e.g. utilities), and contractual services (e.g. housekeeping). UMBC’s budget is comprised of two primary fund groups:
Unrestricted revenues are resources provided to the institution with no restrictions on their use. These resources are separated into three categories:
- State Support – Comprised primarily of tuition revenue and funding from the State. This makes up the largest share of the budget and is used to support the primary academic and instructional mission of the campus.
- Auxiliary – Captures non-academic operations that are self-supporting or self-funded that do not rely on allocations from the State Supported budget to operate. Residential Life, Dining Services, and the Bookstore are all examples of auxiliary units on campus.
- Self Support – Includes academic programs that generate their own revenue to support their operation. Examples of programs in the Self Support budget include Summer and Winter programs, professional programs offered through DPS, and Faculty Start-Up costs supported with DRIF.
Restricted revenues are sponsored by outside entities such as the federal government, state, or the private sector that can only be used for very specific purposes. For example, this includes grants we receive for research projects, Pell grants and other designated scholarships.
The view below shows UMBC’s current fiscal year revenue by funding group:
Additionally, the following views below displays UMBC’s current fiscal year revenue and expenses by account type:
