1. 1 Fiscal Year 2014 Operating Budget UM Board of Curators FINANCE COMMITTEE June 13, 2014

2. 2 FY2014 UM All Funds Budget is $2.9 billion

3. 3 FY2014 Key Planning Assumptions  State support for operations: flat plus funding for performance and MU Medical School expansion  Tuition & Fees: increases driven by enrollment growth changes in student mix and increase in approved rates  Salary & Wage Budget: budget increase for merit and market varies from 1.5% to 3% salary/wage base  Medical & Retirement benefits: amount equal to 1.5% of benefit eligible salaries & wages  Strategic Plan: budgets are consistent with campus strategic plans

4. 4 FY2014 Budget by Fund Type Dollars in Millions

5. 5 Total Budget by Revenue Source Dollars in Millions

6. 6 Total Budget by Use of Funds Dollars in Millions

7. 7 FY2014 Operations Funds Budget Dollars in Millions