Annual University Budget

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University Name: Global Research University
Fiscal Year: 2075
Start Date: January 1, 2075

End Date: December 31, 2075

Prepared By: [Your Name]

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I. Revenue Sources

Revenue Source	Estimated Amount (in $)	Actual Amount (in $)	Variance ($)
Tuition Fees	50,000,000	48,500,000	-1,500,000
Government Grants	10,000,000	10,200,000	+200,000
Private Donations	5,000,000	4,800,000	-200,000
Research Grants	7,500,000	7,600,000	+100,000
Other Income (e.g., endowments)	2,000,000	1,900,000	-100,000
Total Revenue	74,500,000	72,000,000	-2,500,000

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II. Expense Allocation

Expense Category	Estimated Amount (in $)	Actual Amount (in $)	Variance ($)
Salaries and Wages	35,000,000	34,500,000	-500,000
Academic Programs	10,000,000	9,800,000	-200,000
Student Services	4,500,000	4,700,000	+200,000
Facilities Maintenance	3,000,000	2,800,000	-200,000
Technology and Equipment	2,500,000	2,300,000	-200,000
Research Projects	4,000,000	4,200,000	+200,000
Other Operating Expenses	3,500,000	3,600,000	+100,000
Total Expenses	62,500,000	61,100,000	-1,400,000

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III. Capital Expenditures

Capital Item	Estimated Amount (in $)	Actual Amount (in $)	Variance ($)
New Buildings/Construction	8,000,000	7,500,000	-500,000
Major Equipment Purchases	2,000,000	2,200,000	+200,000
Renovations and Upgrades	1,500,000	1,700,000	+200,000
Other Capital Projects	1,000,000	950,000	-50,000
Total Capital Expenditures	12,500,000	12,350,000	-150,000

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IV. Budget Summary

Category	Estimated Amount (in $)	Actual Amount (in $)	Variance ($)
Total Revenue	74,500,000	72,000,000	-2,500,000
Total Expenses	62,500,000	61,100,000	-1,400,000
Total Capital Expenditures	12,500,000	12,350,000	-150,000
Net Surplus (Deficit)	-	-	-1,450,000

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V. Notes and Explanations

1. Revenue Variances:

   • Tuition Fees were slightly under the estimate due to a lower-than-expected student enrollment rate.

   • Private Donations fell short by $200,000 due to a reduction in alumni donations compared to previous years.

   • Due to new funding opportunities, government Grants and Research Grants exceeded expectations, with an additional $200,000 and $100,000.

2. Expense Variances:

   • Salaries and Wages were lower than expected due to some vacant positions being unfilled for part of the year.

   • Student Services saw an increase of $200,000 allocated to expanding mental health services and student support programs.

   • Technology and Equipment were under budget due to delays in upgrading campus IT systems.

3. Capital Expenditures:

   • New Buildings/Construction was slightly under budget due to some delays in construction projects, causing the total cost to decrease.

   • Major Equipment Purchases were over budget due to unplanned upgrades to laboratory equipment.

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