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University’s Fiscal Year 2024 Operating and Capital Budgets

July 26, 2023

Dear Pitt Family,

Earlier today, the University’s Board of Trustees approved our operating and capital budgets for Fiscal Year 2024 (FY24). A message from Senior Vice Chancellor and Chief Financial Officer Hari Sastry will be sent shortly and will detail our student tuition rates for 2023-24, as well as compensation for faculty and staff. A message will also be sent from Vice Chancellor for Human Resources James Gallaher providing additional details about salaries and the implementation of the Compensation Modernization initiative.

As the commonwealth has not yet approved its final FY24 budget, our budgets were approved under the assumption that the state will continue its half-century-plus tradition of supporting in-state students, which now number more than 17,000 across our campuses. While there remains some uncertainty regarding the state allocation, we believe it is imperative for our students and their families to know tuition rates for the 2023-24 academic year, and for our faculty and staff to be able to plan accordingly regarding their compensation.

At the University of Pittsburgh, students guide our daily mission, and we are certainly cognizant of the burden of higher education costs at Pitt and throughout the nation. We will continue to work diligently to control this burden while elevating financial assistance and overall quality.

With regard to faculty and staff, the culture of collaboration and community that they have helped to create through their dedication and strong work ethic is one of the reasons I joined Pitt. Recognizing these invaluable contributions, it is paramount that we provide a competitive salary pool, and we are committed to reaching a fair and equitable agreement with represented faculty.

I want to extend my sincere appreciation to the Board of Trustees for approving the University’s FY24 budget and to the University Planning and Budgeting Committee for its efforts to formulate and develop it. In the days and weeks ahead, we will continue to work with lawmakers in Harrisburg to emphasize the importance of supporting Pennsylvania’s students and increasing funding for state-related universities. I also look forward to working closely with all of you and across our University’s many shared governance committees to advance our shared strategic priorities and to ensure the University’s best days lie ahead.

Hail to Pitt!

Joan Gabel