Budgeting and Planning Assumptions

Key assumptions used in the University’s budget-setting and planning work are set in the Priorities Committee process. Recent years’ parameters are displayed below. 

Historical
  FY19 FY20 FY21 FY22 FY23  
Fee Package* 65,810 69,020 71,710 74,190 76,040  
Tuition 49,450 51,870 53,890 56,010 57,410  
Room 9,520 10,090 10,480 10,690 10,960  
Board 6,840 7,060 7.340 7,490 7,670  
Year-over-year 4.90% 4.88% 3.90% 3.46% 2.49%  
             
Endowment Inflator Rate  
Gross 4.00% 4.00% 4.00% 4.00% 4.00%  
Net 4.00% 4.00% 4.00% 4.00% 4.00%  
 
Academic Allowance Inflator** 2.40% 1.90% -1.00% 5.20% 6.20%  
             
Benefits Rates  
Administrative 29.0% 26.6% 27.5% 28.4% 29.3%  
Academic 36.0% 33.9% 34.1% 35.5% 36.0%  

*FY21 fee package before at-home discounts were applied.
**FY23 standard inflation was reset to 6.2%, from 5.0% to reflect the mid-year salary increase.