Penn State’s 2018-19 interim budget approved by Trustees

UNIVERSITY PARK, Pa. — At its May 4 meeting, the Penn State Board of Trustees approved an interim operating budget of approximately $5.7 billion to support all University operations, until a final budget for the 2018-19 fiscal year is submitted at the board’s upcoming July meeting. 

The interim budget does not include any changes to tuition or employee salaries, wages or benefits. Any potential changes to these figures will be incorporated into the final 2018-19 budget, which will include funds from state appropriations that have yet to be finalized as part of the Commonwealth’s budget process. 

Each year, Penn State adopts an interim budget to ensure the University has an approved fiscal operating plan from the start of the fiscal year, which begins on July 1, until the Board of Trustees formally approves the year’s finalized budget. 

Details on the current 2017-18 fiscal plan, which form the basis for the 2018-19 interim budget, can be found online at http://budget.psu.edu

The final 2018-19 budget is scheduled for presentation to the full board for approval at its next meeting, to be held on July 19-20 at Penn State Berks. 

 

Last Updated May 04, 2018