Planning & Reporting

FY23 Budget Report Guidance

All university units are asked to use one of the following budget report guidelines, as appropriate, in the development of annual reports as part of the annual unit review process.

Budget Report Guidance for FY23: Activity-based Units
Budget Report Guidance for FY23: Centrally-budgeted Academic Units
Budget Report Guidance for FY23: Centrally-budgeted Administrative Units

Overview

The disruptions and impacts caused by the COVID-19 have resulted in an estimated financial cost to our University of $252 million, including additional expenditures such as COVID testing and PPE, lost revenues, and student fee adjustments.  We have received $154 million in federal relief funds. Over $70 million of these funds are used to address the exceptional financial needs of our students.  The remaining portion, $84 million, has been used to offset the financial impact on our University.  Addressing the remaining gap of $168 million will require collective and careful stewardship of our resources while protecting the integrity of our core missions. These challenges require continued determination, patience, cooperation, collaboration, and fiscal discipline across every department, unit, and college.

Yet, our strong Fall 2021 enrollment and students returning to campus are reasons for optimism and confidence in the value of the Illinois brand. And even though the latest forecasts for our state’s finances predict an improved outlook for the next few fiscal years, the lingering impacts of the COVID-19 pandemic will continue to put pressure on its fiscal priorities and responsibilities. Therefore, we must continue with our longer-term strategy of reducing our reliance on state appropriations, including the possibility of a shift in benefit costs from the State to the University.

Submission Deadline

Units should submit their report to provostbudget@illinois.edu by Monday, January 31, 2022.