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Board of Regents MeetingJune 9-11, 2021Item #4Page 11 of 54FY 2022 Annual BudgetOverviewArizona State University’s annual budget for Fiscal Year 2022 reflects theinvestment plan designed to achieve the challenging performance goalsset by the Arizona Board of Regents and to facilitate the continuedadvancement of Charter principles.There are many facets to ASU’s investment plan; however, its goals arecentered on access, student success, research and innovation of publicvalue, and meaningful public service. ASU’s progress is evidenced by itsleadership position in student access, national standing in academicquality, competitiveness in interdisciplinary research and scholarship, andconsistent delivery of innovative solutions to address critical social,technical, cultural, and environmental issues facing 21st century Arizona.The demand for an ASU degree is stronger than ever. In May 2021, ASU conferred degrees to nearly18,000 students, an 8 percent increase from spring 2020; this figure includes more than 5,200 ASU Onlinestudents, a 24 percent increase over spring 2020. More than 700 of those online students earned theirdegree through the Starbucks College Achievement Plan partnership. Of the overall total, nearly 12,200were undergraduates and more than 5,500 were graduate students. Nearly 6,900 students graduated withhonors, the most ever for an individual class and a 5 percent increase over last spring.This past year, ASU received many accolades celebratingthe university’s achievements and influence. For the sixthconsecutive year, ASU was named the nation’s mostinnovative school by U.S. News & World Report for its effortsaddressing curriculum, faculty, students, campus life,technology, and facilities. The Princeton Review named ASUto its list of “Best Value Colleges.” The Fiske Guide toColleges 2021, one of the most authoritative college guides in the U.S., placed ASU on its top 10 list of“Best Buy” public universities in the nation for excellence and value. For 2021, ASU was ranked as the topuniversity in the nation and fifth in the world in achieving the United Nations’ Sustainable DevelopmentGoals, according to Times Higher Education.Arizona State University embarked on a number of new initiatives in FY 2021. The university partnered withDreamscape Immersive to create Dreamscape Learn, which will transform education through explorationby designing cutting-edge virtual reality (VR) experiences for on-campus and online students. In January2021, ASU announced the naming of the Sidney Poitier New American Film School, one of the mostinclusive, affordable, and impactful film programs of cinematic storytellers in the country. ASU celebratedthe opening of several new facilities, including Lantana Hall, a residential life facility on the Polytechniccampus; ASU Health Futures Center, a center for learning and innovation adjacent to the Mayo ClinicHospital in north Phoenix; Mirabella at ASU, a residential lifelong learning complex on the Tempe campus;1
Board of Regents MeetingJune 9-11, 2021Item #4Page 12 of 54FY 2022 Annual Budgetand the Wexford biomedical entrepreneurship building on the Phoenix Biomedical Campus in DowntownPhoenix.Despite the pandemic, ASU’s exponential growth in research and discovery has continued unabated. Theuniversity now ranks sixth nationwide for total research expenditures among institutions without a medicalschool and first for expenditures in transdisciplinary research, anthropology, and geological and earthsciences.Recognizing the long-term importance of transitioning Arizona to compete in the New Economy, ASU hasmade increasingly larger investments over the years in engineering, computer science, artificial intelligence,and autonomous systems. As a result, in 2020, ASU was named a Dell Technologies High PerformanceComputing (HPC) and Artificial Intelligence (AI) Center of Excellence, joining just eight other such centersworldwide. Leveraging its assets, ASU played a significant role in attracting the Taiwan SemiconductorManufacturing Co. (TSMC), the world’s largest contract manufacturer of silicon chips, to Arizona. This movewill create over 1,600 new high-tech jobs and generate thousands of additional jobs in the state for suppliersand other companies. In addition, the aerospace industry has long been one of Arizona’s largest and mostimportant employers. For many years, ASU has supported this industry with breakthrough innovations andnow ranks third in the nation for NASA-funded research expenditures. In February 2021, NASA’s MarsPerseverance Rover touched down on the Red Planet, carrying an ASU-designed-and-led camera system,Mastcam-Z, which serves as the main “eyes” of the science team.ASU’s Biodesign Institute has risen to the ultimate challenge of helping to curb the COVID-19 pandemic.With support from a 2 million emergency grant from the Virginia G. Piper Charitable Trust, the BiodesignInstitute was first in the United States to make its FDA-approved, saliva-based COVID-19 test widelyavailable to the public, with results typically delivered within 48 hours. ASU, alongside the state healthdepartment and private partners, has provided over 780,000 tests thus far to essential workers,underserved populations, K-12 schools, and the public throughout the entire state. As vaccines becameavailable, ASU worked with state agencies to support logistics and staffing of 24/7 vaccination sites, whichhave delivered over 1 million COVID-19 vaccines to date. The White House praised the joint state anduniversity effort, calling it a “role model” for the nation. ASU researchers continue to monitor the spread ofCOVID-19 variants, study long-term health effects of the disease, and develop innovative ways to preparefor future pandemics.2
Board of Regents MeetingJune 9-11, 2021Item #4Page 13 of 54FY 2022 Annual BudgetFiscal Year 2022 Budget HighlightsFY 2022Budget( millions)Revenue ExpenseNet Result3,407.0 3,293.1 113.9 FY 2021Budget Change% Change3,043.0 364.012.0%3,078.0215.17.0%(35.0) 148.9Fiscal Year 2022 RevenueThe FY 2022 budget includes an increase in revenue of 364.0 million, or 12.0 percent, over the FY 2021budget. A description of each of the key components follows.The largest investors in Arizona State University continue to be students and their parents, as evidencedby net tuition and fee revenue that represents 49.8 percent of total revenue. Recognizing the financialhardship on some families as a result of the COVID-19 pandemic, ASU did not increase tuition (includingonline) for both resident and nonresident students for academic year 2021-22. This is the second year in arow with no tuition increases for resident campus immersion students. Because of this decision, thebudgeted increase in gross tuition and fees of 164.4 million or 7.8 percent is almost entirely attributable toFTE student enrollment growth, which is expected to climb by 5.1 percent over FY 2021. Scholarshipallowance is anticipated to increase by 77.6 million, driven partly by growth in the resident studentpopulation, most of whom qualify for institutional scholarships, as well as growth in the student populationwith greater financial need that qualifies for federal Pell grants. Tuition and fee revenue, net of scholarshipallowance, is estimated to increase by 86.8 million or 5.4 percent. Financial aid grants, primarily comprisedof Federal Pell grants, are expected to increase by 3.6 million or 1.8 percent versus the FY 2021 budget.ASU’s reputation and recognition continue to drive strong demand for its degrees. The overall FTEenrollment growth of 5.1 percent is comprised of online enrollment growth of 12.1 percent and immersionenrollment growth of 1.9 percent. Overall, resident student enrollment is projected to increase by 1,230 FTEor 2.1 percent; nonresident domestic student enrollment is projected to increase by 4,401 FTE or 9.1percent; and international student enrollment is projected to increase by 346 FTE or 3.9 percent.Budgeted FY 2022 state-level public investment revenues reflect the Governor’s executiverecommendations, including 16.1 million in incremental base funding for the New Economy Initiative. Afteraccounting for all changes, and including the FY 2021 unbudgeted allocation for the Arizona TeachersAcademy and a one-time adjustment for a 27th FY 2022 payroll, the total FY 2022 state-level publicinvestment of 356.8 million represents a 32.1 million or 9.9 percent increase compared to the FY 2021budget.ASU continues to achieve strong growth in sponsored research activity and anticipates this trend tocontinue in FY 2022. The budget includes an increase of 19.0 million or 4.2 percent in research grants3
Board of Regents MeetingJune 9-11, 2021Item #4Page 14 of 54FY 2022 Annual Budgetand contracts over the FY 2021 budget. The higher grant and contract revenue figure accounted for in theFY 2021 projection is driven by COVID-19 related testing volume, which has already begun to fall asvaccination rates climb.The FY 2022 budget accounts for 213.6 million in net auxiliary revenues, representing an increase of 83.7 million over the FY 2021 budget. The FY 2022 budget anticipates restoration of normal auxiliaryactivities related to University Housing and Dining, Sun Devil Athletics, and ASU Gammage culturalprogramming that were dramatically reduced in FY 2021 due to the effects of the COVID-19 pandemic.For FY 2022, private gift revenue is budgeted to remain at the FY 2021 projected amount of 90.0 million.The FY 2022 budget includes a decrease of 12.0 million in other revenues compared to the FY 2021budget due to lower projected net investment earnings. Furthermore, ASU’s FY 2022 budget recognizes 199.0 million in federal Higher Education Emergency Relief Fund (HEERF) and CARES Act revenue forFY 2022, including 134.1 million in HEERF to fund student financial aid grants.Fiscal Year 2022 ExpenseStrategic investments are critical to accomplishing the goals set forth in ASU’s Strategic Enterprise Plan.ASU’s investment priorities are those discussed with the Regents each February as part of the Operationaland Financial Review (OFR). Those priorities include, but are not limited to, a focus on the fundamentalprinciple of accessibility to all students qualified to study at a research university, the attainment of nationalstanding in academic quality for each college and school, regional economic competitiveness throughresearch and discovery and value-added programs, and strengthening Arizona’s interactive network ofteaching, learning and discovery resources to reflect the scope of ASU’s comprehensive knowledgeenterprise. With these goals in mind, the FY 2022 budget includes the following: Increase of 167.8 million in the use of general purpose funds for academic and other studentcentered programs, including 55.0 million for investment in programs supported by fees, 48.4million of enrollment growth-related expenses, 35.8 million for new faculty (focusing on bothaccomplished senior faculty and promising early-career academics) and academic support, beyondthose supported by enrollment growth funding, 18.2 million in institutionally-funded financial aid,and 10.4 million to fund merit-based salary increases to recognize high-performing faculty andstaff and to enhance employee retention. Increase of 20.7 million in the use of general purpose funds for student support services andfacility costs, including 15.0 million for costs related to leases, custodial services, and buildingoperations and maintenance, 2.0 million in investments for support services, 1.9 million intechnology investments, and 1.8 million in debt service for new and renovated buildings.More generally, salaries and wages are expected to increase by 43.5 million or 3.6 percent, and benefitcosts, which represent 32.8 percent of the salaries and wages amount, are expected to increase by 22.54
Board of Regents MeetingJune 9-11, 2021Item #4Page 15 of 54FY 2022 Annual Budgetmillion or 5.8 percent over the FY 2021 budget. ASU has carefully managed expenses associated withsalaries, wages, and benefits during the pandemic by selectively filling vacant positions.Other post-employment benefits (OPEB) and pension costs represent the non-cash recognition of ASU’sproportionate share of Arizona’s unfunded pension actuarial liability and related post-retirement health carebenefits. ASU projects that post-retirement health care benefits will continue to rise as more employeeselect state-sponsored coverage when they retire and as health care costs continue to rise nationwide. Amodest increase in pension-related expense also is included in this estimate due to long-term recognitionof changes in actuarial assumptions; these adjustments are primarily due to a change in the applieddiscount rate. ASU is projecting a net OPEB expense of 40.0 million in FY 2022.All other operating expenses are expected to increase by 98.9 million or 10.7 percent over the FY 2021budget. This increase is driven by several factors, including partnership payments for online programs,higher levels of research-related travel, increased volume of on-campus auxiliary activities, and operationsand maintenance of campus facilities and equipment.Depreciation, another non-cash expense, is expected to increase by 13.1 million over the FY 2021 budget,while interest on indebtedness expense is expected to increase by 6.2 million.Fiscal Year 2022 Net ResultFor FY 2022, Arizona State University has budgeted for an increase in net position of 113.9 million; thisprojection compares to a FY 2021 budgeted decrease of 35.0 million. Several factors contribute to thehigher projected FY 2022 net result, including one-time resources of public investment to mitigate higheroperating costs for public health measures and lower revenues as a result of keeping tuition rates flat forall students. Considering all of these factors, Arizona State University is well-positioned to meet thechallenges ahead with broad student appeal for its academic programs, continued strong growth in itsresearch enterprise, healthy liquidity with 166 projected days of cash on hand at June 30, 2022, and prudentfinancial investments to support ASU’s long-term growth trajectory and fulfillment of the values embodiedin its Charter.5
Board of Regents MeetingJune 9-11, 2021Item #4Page 16 of 54FY 2022 ANNUAL BUDGETUNIVERSITY OPERATING BUDGETFY 2022 (WITH FY 2021 COMPARATIVE BUDGET DATA)( millions)RevenuesState General Fund AppropriationState Appropriation - Research InfrastructureState Appropriation - Capital InfrastructureState Appropriation - AFATTotal General Fund AppropriationFY 2022FY 2021FY 2021VARIANCE BETWEENVARIANCE BETWEENMonthly Days Cash on HandBUDGETESTIMATEBUDGETFY 2022 BGT & FY 2021 ESTFY 2021 EST & FY 2021 BGTMonthly days cash on hand isprojected to be 166 days at 317.313.512.56.0 349.3 292.813.512.46.0 324.7 292.813.512.46.0 324.7 24.50.00.10.0 24.68.4%0.0%0.8%0.0%7.6% 0.00.00.00.0 0.00.0%0.0%0.0%0.0%0.0% 7.5 7.5 0.0 0.00.0% 7.5--Tuition and Feesless Scholarship AllowanceNet Tuition and Fees 2,277.8(579.8) 1,698.0 2,133.3(528.0) 1,605.3 2,113.4(502.2) 1,611.2 144.5(51.8) 92.76.8%9.8%5.8% 19.9(25.8)( 5.9)0.9%5.1%-0.4%Grants & Contracts -- ResearchFinancial Aid Grants (Primarily Federal Pell Grants)Higher Education Emergency Relief (HEERF) – StudentHigher Education Emergency Relief (HEERF) – InstitutionalGovernor's Emergency Education Relief (GEERF) – AllocationGovernor Office for Arizona Teachers Academy (GEERF)CARES Act RevenuePrivate GiftsTechnology & Research Initiative Fund (TRIF)Auxiliary Revenues, NetOther RevenuesTotal Other Revenues 475.0200.6134.160.80.00.04.190.038.0213.6136.0 1,352.2 515.0197.029.4128.546.04.311.290.040.0121.4165.9 1,348.7 456.0197.029.519.00.00.00.092.035.7129.9148.0 1,107.1( .9) .0%75.9%-18.0%0.3% 59.00.0(0.1)109.546.04.311.2(2.0)4.3(8.5)17.9 .8%Total Revenues 3,407.0 3,286.2 3,043.0 120.8ExpensesSalaries and WagesBenefitsAll Other OperatingHEERF Student Emergency GrantsScholarships & fellowships, Net of Scholarship AllowanceInterest on IndebtednessDepreciationPension Liability/OPEB (GASB 68 & GASB 45)Total Expenses 1,257.0412.61,020.6134.1193.771.9163.240.0 3,293.1 1,202.9394.9965.629.4277.668.0151.040.0 3,129.4 1,213.5390.1921.729.5282.465.7150.125.0 3,078.0 54.117.755.0104.7(83.9)3.912.20.0 163.7 113.9 156.8( 35.0)( 42.9)State Appropriations Transfer - Arizona Teachers AcademyNet Increase3.7% 243.28.0%4.5%4.5%5.7%356.1%-30.2%5.7%8.1%0.0%5.2%( 10.6)4.843.9(0.1)(4.8)2.30.915.0 51.4-0.9%1.2%4.8%-0.3%-1.7%3.5%0.6%60.0%1.7%-27.4% 191.8-548.0%June 30, 2022.
Board of Regents MeetingJune 9-11, 2021Item #4Page 17 of 54FY 2022 ANNUAL BUDGETINCREMENTAL ALLOCATION OF GENERAL PURPOSE 1 FUNDS( millions)FY 2021 Base General Purpose FundsChanges in Incremental General Purpose FundsNew Economy InitiativeUniversity 27th Payroll PeriodIncremental HITF Premium AppropriationRisk Management Insurance Premium Standard AdjustmentCapital Infrastructure FundingRetirement Rate Increase Standard AdjustmentResearch Infrastructure Lease-Purchase Payment AdjustmentRemoval of Prior Year HITF Premium AppropriationTechnology and Research Initiative Fund AdjustmentTotal Change in Public InvestmentRevenues from Tuition and Fees - Incremental FY 2022 Budgeted Tuition and FeesNet Change in ResourcesAllocation of Incremental General Purpose FundsInvestment in Programs Supported By FeesEnrollment Growth - Related ExpensesInvestment in Faculty Hiring and Academic SupportFinancial AidFacilities Costs (O&M, utilities, leases)Salary Merit ProgramSupport Services InvestmentsTechnology InvestmentsDebt ServiceInternal ReallocationsNet Change in Budget AllocationsFY 2022 Base General Purpose Funds 2,573.3 16.19.11.30.40.20.10.0(2.5)(3.6) 21.1156.0 177.1 55.048.435.818.215.010.42.01.91.8(11.4) 177.1Strategic Metric AddressedStudent EducationalSuccess and LearningFreshman retention,enrollment, grad rates,etc.xxxxxxxxxx 2,750.41. General Purpose Funds include Appropriated General Funds, Appropriated TRIF, and Appropriated and Non-appropriated tuition and fees, and exclude Nonappropriated Other Designated Funds, Auxiliary Funds and Restricted Funds.EducationalBachelor's degreesawarded, graduatedegrees, E&G,certifications andcredentialsxxxxxxxxxxDiscover NewKnowledgeImpact ArizonaResearch anddevelopment, licenses and Public service, degrees inhigh demand fields, etc.options, inventionsxxxxxxxxxx
Board of Regents MeetingJune 9-11, 2021Item #4Page 18 of 54FY 2022 BUDGET SUMMARYAPPROPRIATED FUNDS EXPENDITURE AUTHORITY( thousands)FY 2022 BUDGETFY 2021 BUDGETCHANGEUniversity RevenuesResident Tuition Non Resident Tuition565,619.3 548,463.7 17,155.61,090,145.11,012,943.977,201.2Program Fees41,374.034,951.16,422.9College Fees34,213.0151,472.5117,259.5Other Student Fees4,874.04,375.5498.5Miscellaneous Revenues6,520.06,777.7(257.7)Total University Revenues 1,860,004.9 1,724,771.4 135,233.5 640,682.3 532,013.2 108,669.1University Revenues Retained for Local UsesSupport for Local Operating BudgetsRegents Financial Aid Set Aside201,894.9188,419.713,475.2Other Financial 0Plant FundsDebt Service/COPS/Lease Purchase91,295.178,597.712,697.4Total Retained for Local Uses 1,262,286.1 1,121,195.5 University Revenues Supporting the Operating Budget 597,718.8 603,575.9 Plus: Public Investment 1, 2Total Appropriated Funds Expenditure Authority349,326.4 947,045.21. FY 2022 Budget excludes 3.6M of Appropriated Technology and Research Initiative Funds (TRIF).2. FY 2022 Budget includes 9.1M for University 27th Payroll Period.328,317.4 931,893.3141,090.6(5,857.1)21,009.0 15,151.9
Board of Regents MeetingJune 9-11, 2021Item #4Page 19 of 54FY 2022 ANNUAL BUDGETLOCAL COLLECTIONSFY 2022 BUDGETFY 2021 BUDGETCHANGELOCAL COLLECTIONS FROM TUITIONOPERATING FUNDSDESIGNATEDAcademic AffairsAECP - International Teaching AssistantsAssociated Students - ASUCampus Environment TeamCareer ServicesChild and Family ServicesCollege Tuition AllocationCommencementConstituent AdvocacyDining Services ManagementDistance Learning TechnologyEdPlus at ASU InvestmentsEnvironmental Health & SafetyFederal Direct Loan AdministrationFine Arts ActivitiesFine Arts ProgramFine Arts TheatresForensicsGraduate Support ProgramHonors CollegeIntercampus Shuttle ServicesInterpreters TheatreKASC RadioLearning CommunitiesLibrary SupportLocal Support for Academic/Administrative UnitsMona Plummer Aquatic ComplexOverseas Study Abroad Program CostsSpecial EventsStudent Affairs Initiatives ,800275,800 ,800275,800 6,133,90066,507,900108,800-
Board of Regents MeetingJune 9-11, 2021Item #4Page 20 of 54FY 2022 ANNUAL BUDGETLOCAL COLLECTIONSStudent CounselingStudent Financial Assistance AdministrationStudent ForumStudent GovernmentStudent Health ServicesStudent OrganizationsStudent Orientation and ForumsStudent Recreation/IntramuralsStudent Union/ActivitiesSummer Bridge ProgramUniversity Minority Cultural ProgramUniversity Sustainability InitiativesResearch Asst./Teaching Asst. Benefit CostsEmployee Benefit Adjustments/ContingenciesSUBTOTALAUXILIARYMemorial UnionRecreation SportsSUBTOTALOPERATING FUNDS SUBTOTALFINANCIAL AIDRegents Financial Aid Set AsideOther Financial Aid - Institutional Financial AidOther Financial Aid - CRESMET/CONACYT/NEEPTeach for America ScholarshipsOther Financial Aid - Graduate Scholars ProgramGraduate Fellowship ProgramCONACYT Fellowship ProgramOther Fin. Aid - School of Engineering ProgramSUBTOTALMINOR CAPITAL/FACILITIES MAINTENANCE PROJECTSENERGY MANAGEMENT CONTRACTDEBT SERVICETOTAL LOCAL COLLECTIONS FROM TUITIONFY 2022 000 503,192,200FY 2021 000 430,495,000 1,129,200827,1001,956,300505,148,500 1,129,200827,1001,956,300432,451,300 00144,9001,760,000477,660,200 00144,9001,760,000466,074,600 21,500,0005,037,50086,257,6001,095,603,800 20,000,0005,381,10073,216,600997,123,600CHANGE (53,400)72,697,200 72,697,200 13,475,200(1,889,600)11,585,600 1,500,000(343,600)13,041,00098,480,200
Board of Regents MeetingJune 9-11, 2021Item #4Page 21 of 54FY 2022 ANNUAL BUDGETLOCAL COLLECTIONSFY 2022 BUDGETLOCAL COLLECTIONS FROM PROGRAM/COLLEGE FEESDESIGNATEDCollege Fee AllocationGraduate Student Support Fee AllocationLocal Support for Academic UnitsSUBTOTAL 115,083,6002,466,80017,983,400135,533,800FINANCIAL AIDBusiness Financial Aid Set AsideEngineering Financial Aid Set AsideHealth Solutions Financial Aid Set AsideIntegrative Sciences and Arts Financial Aid Set AsideJournalism Financial Aid Set AsideLaw Financial Aid Set AsideLiberal Arts and Sciences Financial Aid Set AsideNursing Financial Aid Set AsideCollege Fee Financial AidGraduate Student Support Fee Financial AidStudent Technology Fee Financial Aid Set AsideSUBTOTALFY 2021 BUDGETCHANGE 82,484,9002,150,80014,926,20099,561,900 00589,40023,563,600505,200323,30031,148,500 521,90017,973,100440,500303,30024,510,000 TOTAL LOCAL COLLECTIONS FROM PROGRAM/COLLEGE FEES 166,682,300 124,071,900 42,610,400TOTAL LOCAL COLLECTIONS 1,262,286,100 1,121,195,500 141,090,600 020,0006,638,500
Board of Regents MeetingJune 9-11, 2021Item #4Page 22 of 54FY 2022 REPORTABLE LOCAL BUDGETS WITH DEFICITS OF 100,000 OR MOREUNITNone.FY 2021FY 2022FY 2022FY 2022FY 2022ACTUAL ENDINGREVENUES ANDEXPENDITURES ANDOPERATINGENDINGSURPLUS/(DEFICIT)TRANSFERS INTRANSFERS OUTMARGINSURPLUS/(DEFICIT)
Board of Regents MeetingJune 9-11, 2021Item #4Page 23 of 54FY 2022 ANNUAL BUDGETASUFY 2022 Operating Revenues 3.4 BillionState Approp, 356.8 , 10%Revenue by Source100%90%80%70%60%50%40%30%20%10%0%Net T&F, 1,698.0 , 50%Other, 349.6 ,10%COVID-RelatedFunds, 199.0 ,6%Financial Aid, 200.6 , 6%Gifts, Grants,Contracts, 603.0, s, Contracts& Gifts58%57%59%11%10%10%FY 18FY 19FY 2056%57%9%9%FY 21 EST FY 22 BGTGross Tuition &FeesStateAppropriations MillionsTuition & Fees and Scholarship AllowanceUniversity Net Position 1,800 1,518.9 1,600 2,000 1,362.1 1,355.4 1,270.0 1,200 1,000 800 1,500 1,697.4 374.1 1,825.6 402.6 400 1,323.3 1,423.1FY18FY19 2,277.8 579.8 462.7 528.0 1,550.6 1,605.3 1,698.0FY20FY21 ESTFY22 BGT 1,000 500 600 2,133.3 2,013.3MillionsMillions 1,400 2,500 1,632.8 0 200 0FY18FY19FY20FY21 ESTNet TuitionFY22 BGTScholarship AllowanceASU - E&G Per FTERevenue vs. Expenditures 20,000 4,000Millions 3,500 3,078.0 3,043.0 3,129.4 3,286.2 3,293.1 3,407.0 18,000 3,000 14,000 2,500 12,000 2,000 10,000 1,500 8,000 1,000 6,000 500 4,000 0 16,531 16,755 17,145FY18FY19FY20RevenuesFY 21 ESTFY 22 BGTFY21 ESTFY22 BGT 0ExpendituresASU FTE EnrollmentDays of Cash on Hand125,000142 16,725 2,000FY 21 BGT200180160140120100806040200 16,292 181,00980,07381,564Fall 17Fall 18Fall 19Fall 20Fall 21 Est75,00050,00025,000FY18FY19FY20FY21 ESTFY22 BGTOn-CampusOnlineTotal
campus; ASU Health Futures Center, a center for learning and innovation adjacent to the Mayo Clinic Hospital in north Phoenix; Mirabella at ASU , a residential lifelong learning complex on the Tempe campus ; Board of Regents Meeting June 9-11, 2021 Item #4 Page 11 of 54
