University of Pittsburgh
July 17, 2015

Pitt Approves $76.8 Million FY 2016 Capital Budget

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PITTSBURGH—The Budget and Executive Committees of the University of Pittsburgh today approved the University’s FY 2016 capital budget of $76,764,276, largely focused on renovation and preservation projects in Oakland and on the regional campuses.

“These projects reflect our commitment to education, research, and student safety, as well as enhancing our student experience through improving living and recreational facilities,” said Pitt Senior Vice Chancellor and Chief Financial Officer Art Ramicone. “The decision to move forward with the capital budget is that the capital funding we receive from the Commonwealth is through a separate budget process from our operating budget appropriation, and Pitt’s FY 2016 Capital Budget projects do not rely on Commonwealth funding.”

The largest portion of the budget, at $45 million, will be used on preservation and renovation projects for buildings and grounds on the Pittsburgh campus. Another $15 million was set aside for similar projects on the regional campuses.

Highlights of the budget include:

  • $8.9 million in Energy Innovation Center improvements. This space will be used by the Swanson School of Engineering to support a number of research initiatives, primarily in energy research. This project was approved by Pitt’s Property and Facilities Committee meeting in March;
  • $6.5 million in renovations to the College Park Apartments at the Johnstown campus;
  • $6.4 million to renovate Trees Fields facilities with two, multipurpose artificial turf fields to provide year-round recreation.

The Trees Field and Johnstown projects now move to the University’s Property and Facilities Committee for final approval.