Sources and Uses of Funds

Sources of Funds

State Funds are primarily recurring funds allocated to the college through the campus. Tuition and fees, summer session, and some Research Board funds are included. Unspent state funds lapse at the end of each fiscal year.

Indirect Cost Recovery Funds are generated by overhead rate assessments against sponsored programs. Unspent funds carry forward from one fiscal year into the next. Some Research Board funds are included.

Self-Supporting Funds are monies generated by and expended in direct support of special programs.

Grants and Contracts Funds are revenues from sponsored programs. Funding and expenditures are controlled by annual budgets that are contained in the original agreement.

Gift Funds are contributions made by donors primarily through the Foundation to university accounts. Many of these funds are restricted by legal agreements between the university and donor(s) in terms of the types of expenditures that may be incurred.

The fiscal year runs from July 1 through June 30.

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Differential between sources and uses reflects restricted-use funds.

"The beauty of state supported university education is
that everyone has a chance. It levels the playing field."

- Albert Wohlers

 


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College of Commerce & Business Administration
University of Illinois at Urbana-Champaign