Dear Pitt Community Members:
Earlier today, members of our Board of Trustees, acting through the Board's Executive Committee, convened and approved the University of Pittsburgh's operating and capital budgets for 2019.
These actions are consistent with the recommendations of the University Planning and Budgeting Committee and follow the early completion of the state's revenue package, which included a 3 percent increase in state support for Pitt. As a result, our University will receive $4.4 million more in state funding compared to last year. I am thrilled to extent this valuable partnership with the state and grateful that leaders in Harrisburg have voted to strengthen their investment in Pitt and, in turn, our Commonwealth's future.
With these details in place, the University’s budget:
- Establishes a $2.3 billion operating budget (up from $2.2 billion in 2018), which will enable us to continue investing in vital areas, such as research, academic excellence and economic development.
- Establishes a $339.5 million capital budget (up from $251.7 million in 2017), which will allow us to address deferred maintenance and make needed renovations to University facilities.
- Includes an $819 million projected research base (up from last year's record-breaking research base of $808 million). This multiyear uptick in external support is extremely heartening, as it both underscores the exceptional caliber of Pitt researchers and staff and further solidifies our stature as a world leader in innovation and research
- Funds our salary pool increases for eligible faculty and staff. Later this afternoon, Senior Vice Chancellors Greg Scott and Art Ramicone will send a message, via Read Green, to all Pitt employees sharing details on the salary pool increase.
- Sets the tuition rate schedule for the 2018-2019 academic year. For the vast majority of in-state undergraduate students at Pitt, tuition rates will not increase. There will be tuition increases for graduate students and out-of-state undergraduate students on our Pittsburgh campus as well as for all undergraduate engineering students on our Pittsburgh and Johnstown campuses.
I hope that you are all having a wonderful summer, and I am already looking forward to the start of another remarkable year.