The Board of Trustees at UofSC released its fiscal year 2022-2023 budget, it’s essentially the university’s plan for various investments that align with its vision + provide services that enhance its academic reputation, the student experience, and contribute to the economic + societal health of SC.
The budget, which focuses on everything from each one of the university’s campuses and tuition to athletics, infrastructure, and more — was approved on Fri., June 24.
We know number crunching is not everyone’s cup of tea + the FY22-23 document is not exactly light reading, so here’s a brief rundown of what’s inside.
💸 Let’s see what we’re working with
An overall look at the budget
- Tuition will not increase for the fourth year in a row across all eight campuses.
- 1,804,281,809 — the total budget to be used across the UofSC system
- 76.5% of the total budget is allocated to UofSC Columbia.
- 48.1% of the total budget comes from tuition and fees across the system
💸 Let’s hit on some of the “budget biggies” for Columbia’s campus
Ya know, the things we know you’re already scouring for
- $6,344 — Undergraduate tuition per semester for in-state resident students
- $16,964 — Undergraduate tuition per semester for non-resident students
- 56% of UofSC’s net tuition is comprised of nonresident tuition whereas 44% is brought in by resident students.
- 4% — the proposed increase for overall total current funds revenue for the Columbia campus in FY2023
💸 Let’s check out a few updates coming this year
The nitty gritty stuff
- UofSC is going to allocate $25 million toward the development of the new Health Sciences campus that will be located in the BullStreet District.
- The university will also allocate more than $10 million toward existing renovation projects on the Columbia campus.
An in-depth document outlining this year’s budget can be found here, on the University’s website.