UA Proposes Balanced Budget for FY 2023

The Arizona Board of Regents Finance, Capital and Resources Committee met last week to discuss several items, including each university’s proposed annual budget for the upcoming fiscal year. The University of Arizona’s budget proposal was developed with input from student leaders, shared governance representatives and university administration. While FY22 was the final year of one-time Higher Education Emergency Relief Funds (HEERF), the university still projects a balanced budget from a cash perspective for FY23. This is due to projected revenue growth from increasing student enrollment and sponsored research activity primarily in the medical sciences. The proposed budget still requires final board approval which is expected at ABOR’s upcoming June meeting in Flagstaff on June 9.