UD's Financial Profile
Additional resources
The information made available on this website provides greater context and clarity around UD financial management, personnel and relevant matters associated with data reporting.
For years, source data has been available publicly in various institutional documents, including the University’s audited financial statements, IRS Form 990, and through reports generated by the Investments Office, the Office of Institutional Research and Effectiveness, the Research Office, Facilities and others. This site provides a summarized overview for ease of use.
Summary of UD finances
The provided tables delineate the financial performance of the University of Delaware across various sectors, including Operating Revenue & Expenses, Capital Funding & Expenditures, and Endowment & Pooled Investment Portfolio for the fiscal years spanning from 2017 to 2024. Additionally, the budget for the fiscal year 2025, approved by the Board of Trustees on May 14, 2024, is presented. Notably, the final ramifications of compensation adjustments due to factors such as new hires, union negotiations, reclassifications and ongoing market fluctuations are yet to be fully determined. These factors will inevitably influence the University’s financial standing during fiscal year 2025.
Overall Financial Summary
FY17 |
FY18 |
FY19 |
FY20 |
FY21 |
FY22 |
FY23 |
FY24 |
FY25 Budget |
|
|---|---|---|---|---|---|---|---|---|---|
| Financial Resources ($ in millions) |
|||||||||
| Total Operating Investments | 606 |
652 | 536 | 519 | 554 | 572 | 525 | 543 | 436 |
| Unspent Bond Proceeds for Capital | 21 | 176 | 191 | 67 | 62 | 57 | 49 | 6 | 0 |
| Total Operating Investments and Unspent Bond Proceeds | 627 | 828 | 727 | 586 | 616 | 629 | 574 | 549 | 436 |
| Change | 14 | 201 | (101) | (141) | 30 | 13 | (55) | (25) | (113) |
| Endowment Funds Market Value, Net | 1,290 | 1,336 | 1,387 | 1,376 | 1,864 | 1,702 | 1,739 | 1,843 | 1,843 |
| Long-Term Liabilities: | 1,074 | 1,231 | 1,225 | 1,279 | 1,279 | 1,160 | 1,119 | 1,172 | 1,160 |
Adjusted Modified Cash/Budgeted Operating Statement of Activities, All Funds Basis |
|||||||||
Operating Revenue |
|||||||||
| Total Operating Revenue | 989 | 1,025 | 1,070 | 1,033 | 996 | 1,132 | 1,169 | 1,256 | 1,301 |
| Total Operating Expense | 911 | 968 | 1,043 | 1,050 | 972 | 1,078 | 1,163 | 1,259 | 1,356 |
| Operating Surplus/(Deficit) | 78 | 57 | 27 | (17) | 24 | 54 | 6 | (3) | (55) |
Capital Activities |
|||||||||
| Total Capital Funding | 47 | 52 | 109 | 33 | 31 | 46 | 73 | 113 | 101 |
| Total Capital Expenditures | 82 | 92 | 179 | 173 | 74 | 52 | 108 | 142 | 160 |
| Capital Activities Funded by Operations and Operating Investments | (35) | (40) | (70) | (140) | (43) | (6) | (35) | (29) | (59) |
| Change in Fund Balance from Operating and Capital Activities | 43 | 17 | (43) | (157) | (19) | 48 | (29) | (33) | (113) |
| Accrual/Prepaid Differences | (46) | (22) | (64) | 20 | (24) | (11) | (29) | 3 | - |
| Appreciation/(Depreciation) Operating Investments in Pooled Portfolio | 17 | 7 | 6 | (4) | 73 | (24) | 3 | 11 | - |
| 2018 Bond Proceeds | - | 199 | - | - | - | - | - | - | - |
| Change in Operating Investments and Unspent Bond Proceeds | 14 | 201 | (101) | (141) | 30 | 13 | (55) | (19) | (113) |
Operating Revenue & Expenses
FY17 |
FY18 |
FY19 |
FY20 |
FY21 |
FY22 |
FY23 |
FY24 |
FY25 Budget |
|
|---|---|---|---|---|---|---|---|---|---|
Operating Revenue ($ in millions) |
|||||||||
| Net Undergraduate Tuition & Fees | 349 | 364 | 369 | 374 | 337 | 335 | 343 | 363 | 402 |
| Net Graduate Tuition & Fees | 31 | 36 | 34 | 30 | 30 | 28 | 31 | 35 | 39 |
| Other Tuition & Fees | 44 | 46 | 56 | 55 | 50 | 62 | 65 | 68 | 67 |
| State Appropriation | 121 | 119 | 122 | 125 | 125 | 128 | 134 | 140 | 144 |
| Facilities and Administrative Cost Recoveries | 36 | 37 | 40 | 41 | 44 | 54 | 59 | 67 | 70 |
| Endowment Payout and Proceeds of Investment of Previous Surpluses | 69 | 71 | 75 | 72 | 69 | 72 | 88 | 98 | 96 |
| Auxiliary Revenue | 119 | 127 | 130 | 90 | 50 | 121 | 136 | 142 | 149 |
| Gifts for Operating | 31 | 29 | 28 | 24 | 29 | 33 | 28 | 37 | 24 |
| Contracts & Grants | 142 | 145 | 165 | 171 | 181 | 232 | 224 | 246 | 254 |
| HEERF relief reimbursements | 5 | 46 | 16 | 0 | 0 | 0 | |||
| Other & Entrepreneurial Revenue | 47 | 51 | 51 | 46 | 35 | 51 | 61 | 60 | 56 |
| Total Operating Revenue | 989 | 1,025 | 1,070 | 1,033 | 996 | 1,132 | 1,169 | 1,256 | 1,301 |
Expenses |
|||||||||
| Faculty Salaries | 151 | 159 | 169 | 177 | 178 | 175 | 180 | 187 | 188 |
| Salaried Staff Salaries | 151 | 162 | 173 | 185 | 184 | 190 | 212 | 235 | 251 |
| Hourly Staff Salaries | 77 | 79 | 80 | 80 | 65 | 72 | 77 | 79 | 105 |
| Adjunct Faculty & Other Contract Workers | 23 | 24 | 24 | 26 | 21 | 25 | 26 | 28 | 21 |
| Graduate Student Salaries | 42 | 45 | 50 | 51 | 52 | 52 | 59 | 62 | 53 |
| Benefits | 167 | 175 | 184 | 192 | 190 | 191 | 205 | 224 | 263 |
| Travel | 27 | 29 | 31 | 25 | 3 | 17 | 30 | 31 | 36 |
| Supplies, Materials and Other | 130 | 145 | 176 | 149 | 121 | 190 | 202 | 228 | 248 |
| Plant Maintenance & Operations | 81 | 86 | 89 | 82 | 72 | 83 | 85 | 96 | 99 |
| Research Subcontracts | 24 | 25 | 26 | 35 | 38 | 41 | 46 | 48 | 53 |
| Debt Service | 38 | 39 | 41 | 48 | 48 | 42 | 41 | 41 | 39 |
| Total Operating Expenses | 911 | 968 | 1,043 | 1,050 | 972 | 1,078 | 1,163 | 1,259 | 1,356 |
| Adjusted Modified Cash/Budgeted Operating Surplus**/(Deficit) | 78 | 57 | 27 | (17) | 24 | 54 | 6 | (3) | (55) |
**Surplus is reinvested in pooled investment portfolio
Capital Funding & Expenditures
FY17 |
FY18 |
FY19 |
FY20 |
FY21 |
FY22 |
FY23 |
FY24 |
FY25 Budget |
|
|---|---|---|---|---|---|---|---|---|---|
Capital Funding ($ in millions) |
|||||||||
| Gifts for Capital | 2 | 3 | 11 | 9 | 15 | 23 | 11 | 7 | 10 |
| Bond Proceeds | 39 | 48 | 97 | 13 | 4 | 5 | 10 | 45 | - |
| State Bond Bill Appropriation | 6 | 1 | - | 1 | 3 | 11 | 12 | 38 | 31 |
| Other Capital Funding | - | - | 1 | 10 | 9 | 7 | 39 | 23 | 60 |
| Total Capital Funding | 47 | 52 | 109 | 33 | 31 | 46 | 73 | 113 | 101 |
Capital Expenditures |
|||||||||
| Deferred Maintenance, budget | 18 | 36 | 36 | 36 | 9 | 18 | 18 | 6 | 50 |
| Capital Projects | 64 | 56 | 143 | 137 | 65 | 34 | 90 | 136 | 110 |
| Total Capital Expenditures | 82 | 92 | 179 | 173 | 74 | 52 | 108 | 142 | 160 |
| Capital Activities Funded by Operations and Operating Investments | (35) | (40) | (70) | (140) | (43) | (6) | (35) | (29) | (59) |
Endowment & Pooled Investment Portfolio
FY17 |
FY18 |
FY19 |
FY20 |
FY21 |
FY22 |
FY23 |
FY24 |
FY25 Budget | |
|---|---|---|---|---|---|---|---|---|---|
Financial Resources: ($ in millions) |
|||||||||
| Cash and Cash Equivalents | 51 | 85 | 111 | 130 | 125 | 73 | 50 | 44 | 50 |
| Operating Investments-Bond Portfolio | 312 | 317 | 177 | 162 | 151 | 262 | 251 | 264 | 151 |
| Operating Investments in Pooled Portfolio | 243 | 250 | 248 | 227 | 278 | 237 | 224 | 235 | 235 |
| Total Operating Investments | 606 | 652 | 536 | 519 | 554 | 572 | 525 | 543 | 436 |
| Unspent Bond Proceeds for Capital | 21 | 176 | 191 | 67 | 62 | 57 | 49 | 6 | - |
| Total Operating Investments and Unspent Bond Proceeds | 627 | 828 | 727 | 586 | 616 | 629 | 574 | 549 | 436 |
| Change | 14 | 201 | (101) | (141) | 30 | 13 | (55) | (25) | (113) |
| Endowment Funds Market Value, Net | 1,290 | 1,336 | 1,387 | 1,376 | 1,864 | 1,702 | 1,739 | 1,843 | 1,843 |
Long-Term Liabilities: |
|||||||||
| Long-term Debt and Capital Leases, Net | 524 | 733 | 719 | 709 | 697 | 685 | 671 | 657 | 645 |
| Postemployment Benefit Obligations | 550 | 498 | 506 | 570 | 582 | 475 | 448 | 515 | 515 |
| Long-Term Liabilities | 1,074 | 1,231 | 1,225 | 1,279 | 1,279 | 1,160 | 1,119 | 1,172 | 1,160 |
| Operating Statement of Activities, All Funds Basis | |||||||||
| Total Operating Revenue | 989 | 1,025 | 1,070 | 1,033 | 996 | 1,132 | 1,169 | 1,256 | 1,301 |
| Total Operating Expense | 911 | 968 | 1,043 | 1,050 | 972 | 1,078 | 1,163 | 1,259 | 1,356 |
| Operating Surplus/(Deficit) | 78 | 57 | 27 | (17) | 24 | 54 | 6 | (3) | (55) |
| Capital Activities | |||||||||
| Total Capital Funding | 47 | 52 | 109 | 33 | 31 | 46 | 73 | 113 | 101 |
| Total Capital Expenditures | 82 | 92 | 179 | 173 | 74 | 52 | 108 | 142 | 160 |
| Capital Activities Funded by Operations and Operating Investments | (35) | (40) | (70) | (140) | (43) | (6) | (35) | (29) | (59) |
| Change in Fund Balance from Operating and Capital Activities | 43 | 17 | (43) | (157) | (19) | 48 | (29) | (33) | (113) |
| Accrual/Prepaid Differences | (46) | (22) | (64) | 20 | (24) | (11) | (29) | 3 | - |
| Appreciation/(Depreciation) Operating Investments in Pooled Portfolio | 17 | 7 | 6 | (4) | 73 | (24) | 3 | 11 | - |
| 2018 Bond Proceeds | - | 199 | - | - | - | - | - | - | - |
| Change in Operating Investments and Unspent Bond Proceeds | 14 | 201 | (101) | (141) | 30 | 13 | (55) | (19) | (113) |
Higher Education Emergency Relief Funding
Fiscal Year |
Higher Ed Emergency Relief Fund |
Student Aid/Grants |
University Aid |
Total |
|---|---|---|---|---|
| FY20 | HEERF Act | $6.1M | $6.1M | $12.2M |
| FY20 Total | $6.1M | $6.1M | $12.2M | |
| FY21 | Omnibus Appropriation | $6.1M | $11.9M | $18.0M |
| FY21 | HEERF Act – Governors Relief Fund | $32.5M | $32.5M | |
| FY21 Total | $6.1M | $44.4M | $50.5M | |
| FY22 | American Rescue Plan Act* | $16.1M | $16.1M | $32.2M |
| FY22 | ARPA/State and Local Fiscal Recovery Fund** | $10.0M | $10.0M | |
| FY22 | CARES Act - Governors Relief Fund*** | $6.9M | $6.9M | |
| FY22 Total | $16.1M | $33.0M | $49.1M | |
| Grand Total | $28.3M | $83.5M | $111.8M |
* American Rescue Plan Act Student Aid & Institutional Aid awarded in FY21, however Student Aid disbursements & recognition of institutional aid is expected in FY22
** American Rescue Plan Act/State and Local Fiscal Recovery Fund total award is $41M disbursed as follows: FY22 - $10M, FY23 - $15M and FY24 - $16M. Awarded funds to go towards the construction expenses of Building X.
*** FY22 CARES Act - Governors Relief Fund awarded after FY22 April projection
Revenue
Expenses
Fall 2024 Enrollment |
|
| Type of students | Number of students |
Undergraduate |
19,071 |
Associate in Arts |
739 |
Graduate |
4,386 |
Professional & Continuing Ed. |
955 |
Detailed Breakdown of Finances
University of Delaware Consolidated Financial Statements
February 2025 financial profile update
Consistent with our shared commitment to enhancing transparency in communication of our financial process and performance (operating and capital) to the faculty, the senior leadership team has prepared the following budget-relevant materials. (Access to the information below requires UD login credentials.)
- Overview of Budget Topics — A narrative that describes the operating budget process and allocation methodologies, the policies for use of reserves, and the capital process planning and financing.
- FY24 All Funds Actuals and FY25 All Funds Projection Unit Slides — All-Funds Results by Unit, for all administrative units and colleges for Fiscal 2024 Actual and Fiscal 2025 Mid-year Projection.
- College and Department Allocations — All-funds results by college for departments, centers and college-level activity.
- Capital Planning: Procedures, Process and Financing — A draft document, awaiting final comment, that codifies the capital project procedures that we have been operating under since July 2023 and slides with materials that have been presented at Board of Trustee meetings.
These materials reflect feedback received to date from collaborative interactions with the Budget Committee of the Faculty Senate since fall 2024. The present state of the materials represents Work In Progress, and we are committed to continuing to work with the Senate and other stakeholders to enhance the presentation of these materials for the public and answer frequently asked questions about UD’s operating budget and capital planning processes and procedures.
We hope that disclosure and wide dissemination of this operating budget and capital planning information will enable faculty and other stakeholders to ask questions to which we are committed to providing answers.
