keep 2026-27 tuition levels flat<\/a> at Storrs and the regional campuses for the second consecutive year to help keep a UConn education affordable and competitively priced against other institutions.<\/p>\nIt also continues the University\u2019s commitment to providing strong financial aid to qualified students, with $351.4 million allocated \u2013 of which about $230 million is funded by the institution, an increase of $33.6 million over the past two years. About 86% of undergraduate students receive some form of financial aid.<\/p>\n
The FY27 operating budgets will be $1.9 billion for the UConn Storrs and regional campuses and $2.2 billion for UConn Health. The totals do not include separate capital budgets also adopted Wednesday for building renovation and repair projects, equipment, and related expenditures financed primarily by state bonds or user fees, not tuition.<\/p>\n
UConn faces operating budget shortfalls in the upcoming fiscal year of $29.2 million for the Storrs and regional campuses and $54.3 million for UConn Health, for a combined total of $83.5 million.<\/p>\n
To fill the gaps and ensure a balanced budget, the University will continue to expand several mitigation actions already in place, including efforts to reduce operating expenses and using one-time funds that are not already restricted to specific projects.<\/p>\n
The University will also continue to restrict non-essential hiring and review non-permanent and temporary positions, streamline office and administrative functions where appropriate, adjust contracts where possible to realize savings, expand sports sponsorship agreements, adjust enrollment metrics, prioritize student retention to help increase tuition revenue, and other actions.<\/p>\n
Wherever possible, the University will work to grow other revenue streams as well. As was the case in the current fiscal year, units will continue to make use of unspent balances they may have available.<\/p>\n
Finances have been particularly tight in recent years across the higher education sector due to increasing inflationary pressures, rising operating costs, federal research grant reductions, and other factors.<\/p>\n
The cost-cutting initiatives, efforts to identify new revenue sources, and other measures will all be critical in the coming budget year, UConn officials say.<\/p>\n
The state\u2019s annual block grant to the University comprised 28% of the University\u2019s revenue 10 years ago in FY17, but has been steadily decreasing. In the coming year, that number has fallen to 14% at UConn Storrs\/regionals and 7% at UConn Health.<\/p>\n
The state is providing valuable fiscal support in FY27 for other initiatives not reflected in the operating block grant, including a promised $35 million in the coming year to help UConn and UConn Health address federal research funding cuts.<\/p>\n
It also continues to generously fund mission-critical projects for UConn 2000, which has transformed the University over the past several decades through major initiatives to modernize or replace academic facilities, research space, and support other offerings at Storrs, UConn Health, and the regional campuses.<\/p>\n
Some of those projects include funding for Gampel Pavilion and Gant Science Complex renovations, both of which are in construction; an initiative to recruit and support top-tier research faculty; clinical equipment to enhance revenue growth at UConn Health; deferred maintenance at multiple campuses; and other projects.<\/p>\n
\u201cWe are grateful to the governor and the General Assembly for their continued support of the University,\u201d said Anthony Rini, UConn\u2019s Vice President for Finance and Chief Financial Officer. \u201cUConn will manage its budget closely throughout the fiscal year and continue to focus on protecting academic excellence and promoting holistic student success.\u201d<\/p>\n
Also, the University will work to identify potential opportunities for new revenue, including continuing to grow patient care revenue at UConn Health. In FY27, clinical care revenues are estimated to generate about 75% of UConn Health\u2019s overall revenue, far more than any other income source.<\/p>\n
UConn Health\u2019s clinical operations have been a continuing bright spot on the university\u2019s financial landscape, excelling in patient care and drawing record amounts of revenue through medical services at UConn John Dempsey Hospital in Farmington and clinical sites elsewhere throughout the region.<\/p>\n
In the past year, UConn Health has expanded capacity for operating rooms and patient infusion therapy, and opened an advanced triage unit in the Emergency Department. Of particular note, it also added welcomed UConn Health Waterbury Hospital into the UConn Health Community Network, strengthening regional access to care and creating new opportunities for growth through closer integration with Connecticut\u2019s only public academic medical center.<\/p>\n
While continuing to pursue revenue growth strategies, UConn Health plans to keep closely reviewing and pausing non-critical, non-revenue generating hires and expenses, and to hold the line on contract costs and other areas of potential savings.<\/p>\n
\u201cUConn Health enters FY27 with strong momentum, driven by growing patient demand, expanding clinical partnerships, continued investments in our facilities and capabilities, and national recognition for our quality and safety,\u201d said Dr. Andrew Agwunobi, CEO of UConn Health.<\/p>\n
\u201cWhile we face many of the same financial pressures affecting health systems across the country, we remain focused on fiscal responsibility, strategic growth, and delivering excellence for the patients and communities we serve,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
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