HOW DOES UINDY SPEND MONEY?
The University of Indianapolis has many multi-million dollar expenses each fiscal year. General expenses are approximately $80 million, but other expenditures such as construction and financial aid add millions more to the amount spent annually. Below are some of the expenses from the 2009-2010 fiscal year. Tuition increases over the last few years at the University of Indianapolis may lead to a broader curiosity about just where that money goes after the university cashes the checks.
General expenses at UIndy are typically upwards of $80 million for one fiscal year, according to Controller of Accounting Dan Burns. However, this figure does not include expenses such as construction of new facilities and university scholarship awards, which add millions to the figure.
What the $80 million does include is more than $2.43 million in utilities fees, with more than $1.68 million supporting the university electric bill alone.
“We spend over $2 million just in utilities,” Burns said. “So that’s why you may see me patrolling empty classrooms turning off the lights.”
Utilities aren’t the only expense to surpass the million dollar mark. In a year, UIndy spends $1.6 million on supplies, which include everything from pencils to toilet paper.
“Supplies are the expenses students really think about,” Burns said. “It can include anything from cleaning supplies to cadavers.”
By far, the largest university expense annually is that of compensation for faculty and staff members, which is more than $48 million a year, according to Burns.
“The $48 million figure includes everything from benefits to compensation,” Burns said. “And that total is for one year only.”
Students do see a return of some of the money as well. Students earn approximately $1.3 million annually in wages at UIndy. Furthermore, more than $6.6 million in refunds have been dispersed among UIndy students this semester alone.
Additionally, Dean of Students Kory Vitangeli explained that the UIndy Residence Life budget allows for approximately $4 per student to be spent on programming and activities for those who live in campus housing. According to Vitangeli, this budget allows resident assistants to give back to their residents by planning events.
Linda Handy, director of financial aid, explained that another enormous way the university gives back to students is through university merit-based financial aid.
“For the year of 2009-2010, we awarded an average of $6,704 in merit-based money per university student,” Handy said.
According to Handy, UIndy awarded a total of more than $20 million in gift aid to students over the 2009-2010 school year.
Burns explained that some additional expenses that students might find surprising include the $3 million in food service expenses UIndy accrues over a one year period, the more than $800,000 spent on printing and the $1.5 million that has been pumped into the renovation of Hanna Ave. thus far.
Also, $13.8 million went toward the 2009 renovation of Schwitzer Student Center, and East Hall cost the university $10.4 million. The new Student Athletics and Recreation Center is projected to cost between $6 million and $7 million when fully completed.
Taking into account its several multi-million dollar expenses, UIndy launched a fund-raising campaign last year with its Annual Giving department that called potential donors and broke down UIndy spending to the per-minute level.
Each minute, it costs the university $140 to keep the Greyhounds taking tests, scoring goals and living life on the University of Indianapolis campus.
