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Auburn University approves $1.48 billion budget for 2020-21

Auburn University approves $1.48 billion budget for 2020-21

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Samford Hall

Auburn University’s 2020-21 budget looks a lot like the 2019-20 budget.

Kelli Shomaker, vice president for business and finance and CFO, told university trustees Friday that the $1.48 billion plan is up almost three percent over 2019-20 — running slightly ahead of inflation — with little new spending.

“As the COVID-19 pandemic has created some uncertainty surrounding these proposed revenue budgets, permanent expense increases were kept to a minimum for the FY21 budget,” Shomaker said in prepared remarks. “No money has been allocated for merit increases. Salary and wages expense was budgeted an increase of $5.3 million for job family and faculty promotions and some new faculty and staff positions.”

No layoff or furloughs were mentioned in Shomaker’s remarks. The board unanimously approved the 2020-21 budget, which goes into effect Oct. 1.

Shomaker said budget revenues should be up modestly across the board. State aid is up $9.1 million to $288.7 million, up from $279.6 million last year. Tuition and fees are expected to increase by $14.4 million to $688.5 million, up from $674 million.

Debt service from campus construction projects will decrease slightly, dropping $360,000 to $72.3 million for next year. Much of the building on campus is also funded by the state and gifts from alumni and other private sources.

Auburn University Montgomery will have a 4.9 percent budget cut, down to $102 million from $107 million in 2019-20. The cut is due largely to a $5 million drop in revenues from tuition and fees, from $52.7 million this year to $47.6 million for 2020-21.

More information about Auburn University’s 2020-21 budget can be found at auburn.edu/administration/business-finance/budget/20-21_budget.

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