University of Pittsburgh Trustees Approve 2016-17 Operating and Capital Budgets

PITTSBURGH—The University of Pittsburgh’s Board of Trustees, acting through its Executive Committee, today approved a $2.1 billion operating budget and $110 million capital budget for the fiscal year that formally began on July 1.

The University’s operating budget includes a 2.3 percent tuition increase for Pennsylvania-resident students and a 2.75 percent increase for nonresident students enrolled at the University’s Pittsburgh campus. The percentage increase is the smallest in 41 years.

“Our goal in formulating a budget is to approach tuition as a component of a value-driven equation that puts the interests of students and alumni foremost,” said University of Pittsburgh Chancellor Patrick Gallagher. “Serving those interests requires us to carefully monitor and control costs, while increasing quality. Pitt’s reputational strength as a world leader in learning and research is most meaningful when considered against its work to remain one of the best-value institutions in higher education today.

“We’re appreciative of the strong commitment in Harrisburg to provide improved support from the commonwealth,” Gallagher said. The commonwealth appropriation was set at $159 million, a 3 percent increase over the prior year.

The budget also includes a tuition increase of 1.9 percent for students enrolled in programs at the University’s regional campuses. The increase follows a year of no tuition increase at the regional campuses. Consistent with past practice, the University’s financial-aid budget has been increased to match the tuition-rate percentage increases.

As an example, the annual tuition increase for an undergraduate Pennsylvania resident and undergraduate nonresident enrolled in the Kenneth P. Dietrich School of Arts and Sciences will be $396 and $770, respectively. The annual tuition increase for an undergraduate Pennsylvania resident and an undergraduate nonresident enrolled at Pitt’s regional campuses will be $236 and $442, respectively.

The value of a Pitt education continues to be widely recognized. For the 11th year in a row, the Pittsburgh campus has been ranked as the top value among all public colleges and universities in Pennsylvania by Kiplinger’s Personal Finance. This nationwide ranking assesses cost to value among leading four-year colleges and universities.

The University’s FY 2017 capital budget is $110,034,251. The largest portion of the capital budget, more than $80 million, will be focused on preservation and renovation projects on the Pittsburgh and regional campuses.

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