Office of the Vice President for Global Communications

Tuesday, September 8, 2009

Tutorial answers questions about U-M funding

A new U-M Web site going live today provides a concise online tutorial for people
seeking information about the basic workings of the university’s budget, focusing in particular on the General Fund, which is the source of support for U-M’s educational enterprise.

The site can be accessed from the Gateway or by going to vpcomm.umich.edu/budget/fundingsnapshot.

The tutorial, University of Michigan Funding: A Snapshot, was created in response to questions from students and others about how the university is funded. It also has information about state support for higher education, financial aid, donor support and links to more in-depth resources.

“It is important that students, faculty and staff share an understanding of where university funding comes from and how that money is used,” says Vice President for Communications David Lampe. “It’s critical, especially in these troubled economic times, to be transparent about our finances.”

The tutorial is part of ongoing communication efforts regarding U-M’s financial situation and budget process that include President Mary Sue Coleman’s recent fireside chat with students, a speech by Provost Teresa Sullivan to Senate Assembly, and presentations by Vice Provost Philip Hanlon at the College of Engineering, School of Dentistry and Gerald R. Ford School of Public Policy.

The tutorial— a collaborative effort of the Office of the Provost, Office of the Vice President for Communications, Financial Operations Office, Investment Office, Office of Financial Aid and the Office of the Vice President for Development— lays out the basics of the financial model that allows the university to preserve the excellence of a U-M education while keeping it accessible and affordable for students, Lampe says.