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June 30, 2022

UConn Board of Trustees adopts $3.3B fiscal 2023 operating budget

Photo | Contributed The UConn campus in Storrs.
By Robert Storace

The University of Connecticut Board of Trustees has unanimously adopted its fiscal 2023 operating and capital budgets during its regular monthly meeting Wednesday morning.

The fiscal year 2023 operating budget, which starts Friday, is $3.3 billion and includes $1.7 billion for UConn’s Storrs and regional campuses and $1.6 billion for UConn Health’s clinical, research, and academic operations. The capital budget for fiscal year 2023 -- which covers construction of buildings, major renovations and lab equipment, among others – is $230 million. Of that sum, $53 million is university money and the rest is state bond funding.

According to the university, the figures in both budgets were increased due to one-time state allocations to help cover collectively bargained wage increases.

Of the 2023 operating budget, about $245 million is budgeted for financial aid. That, the university said, includes $165 million funded specifically by UConn. The rest comes from state and federal sources and scholarships.

In comparison, the fiscal year 2022 operating budget was $2.99 billion and the capital budget that fiscal year was $303.6 million. Of that, $56 million was university money and the rest was state bond funding.

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