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University Budget

University of the Pacific's budget is designed to support our mission of providing a superior, student-centered learning experience that integrates liberal arts and professional education and prepares individuals for lifetime achievement and responsible leadership in their communities. This page offers resources for understanding the university budget and finances. Please send feedback or questions to IPC@pacific.edu.

Details on the university budgets and reports on the university's financial health since fiscal year 2016 are available to the university community at the Budget SharePoint Site.

Regents approve Pacific's fiscal year 2020 university budget

The Board of Regents approved the university's operating budget for the fiscal year 2019 (July 1, 2019-June 30, 2020) at its April 2019 meeting. The board-approved budget, with revenues of $275 million and expenses of $263 million, allows us to achieve two important goals: fund increases in faculty and staff compensation and create a healthy operating margin. The budget includes planned reductions or reallocations of $20.3 million to fund the compensation increases and to provide an operating margin of 4.3%.

FY19 Budget Highlights: (full details on Budget SharePoint site)

  • Like many other colleges and universities across the country, Pacific has experienced unpredictable enrollments and higher discount rates, which have resulted in flattening revenues the past few years. This, coupled with rising costs associated with employee compensation (wages and benefits), has caused our expenses to exceed our income
  • To cover the FY19 shortfall, the Board approved a one-time allocation from the accumulated, unused Strategic Investment Fund reserve with a commitment to repay the amount.
  • The major expenses that are increasing and required additional funding in the FY19 budget include:
    • Increased benefit costs.
    • Wage increases associated with annual salary adjustments and the increase in minimum wage.
    • Faculty and staff promotion pool to pay for promotions that occur during the fiscal year.
    • A one-time payment of 2 percent of wages to faculty and staff who earn a full-time equivalency of $80,000 or less annually.

Financial Health

  • The university's financial status is strong as we approach FY20. Vacant positions and budget reductions for FY20 have helped us achieve a healthier operating margin (defined as revenues minus expenses). Since enrollments continue to be volatile, achieving our operating margin target remains a high priority.
  • Moody's Investors Services recently reaffirmed our A2 Stable rating, confirming the university's financial outlook is strong.
  • In the past decade, our endowment has nearly tripled to $450 million. Donor-funded financial aid has nearly tripled as well, from $3.5 million to more than $10 million.
  • We have raised more than $234 million toward the $300 million-dollar goal of our "Leading with Purpose" fundraising campaign, resulting in more than 260 gifts matched through the Powell Match Fund and the creation of five endowed faculty chairs, two professorships and three annual lectures.

Strategic Investment Fund (more information)

University of the Pacific has established a Strategic Investment Fund (SIF) to allow us to invest in critical strategic efforts including new and existing academic programs and capacity projects. SIF will help Pacific change with the times, without relying on steep tuition increases. The SIF has enabled Pacific to develop 17 new academic programs, increase graduate enrollment and invest in comprehensive student services.

Audited Financial Statements (more information)

This page lists the latest university audited financial statements, as filed each year with the IRS. This is a complete accounting of all spending at the University. As with all nonprofit universities, Pacific's latest posted financial statements are for the fiscal year 2018.

Institutional Priorities Committee (IPC) (more information)

The Institutional Priorities Committee is made up of faculty, university administrators, staff and students who study the budget each year and make recommendations to the President for changes to the budget.