Appropriations received in support of the University's land-grant missions, used primarily by the Agricultural Experiment Station and Tennessee Extension.
Revenues collected from UT Medical Center in Knoxville and the UT Foundation for leased employees.
Revenues generated from sources not included in other classifications, such as sales and services by University departments and investment income.
Revenues from operations of auxiliary activities such as housing, dining halls, bookstores, parking and UT Knoxville athletics.
Revenues collected from students; includes resident enrollment fees, program and service fees, extension enrollment fees and other fees.
Legislative appropriations from the Tennessee General Assembly for current operations of the University.
Revenues from federal and non-federal granting entities and gifts restricted for specific purposes, primarily for sponsored research and training activities.
Mandatory transfers for debt service and other transfers.
Expenditures for student services including admissions, registrar, student activities, counseling, career guidance, student aid administration and health services.
Expenditures for leased employees for UT Medical Center in Knoxville and the UT Foundation.
Expenditures for executive management, financial operations, personnel services, security, public relations, development activities and alumni relations.
Expenditures for the operation and maintenance of physical plant including utilities and service related to grounds and facilities.
Expenditures for libraries, computing support and academic administration.
Activities that furnish goods and services to students, faculty and staff. Includes mandatory transfers for debt service.
Expenditures for non-instructional programs beneficial to individuals and groups external to the University.
Scholarships and Fellowships awarded to students.
Direct expenditures for sponsored research activities funded from federal, state, local and private sources.
Includes all expenditures, including faculty and staff salaries incurred in connection with instruction programs for credit and non-credit courses.
Over the course of the 2012 fiscal year ending June 30, the total funds invested for the benefit of the University of Tennessee System declined slightly to $869 million from $889 million. This $20 million decrease from the previous year was driven by negative performance in the global equity markets, as well as the domestic small and midcap sectors of the market. In contrast, large cap stock and high-quality bonds produced positive returns as investors sought shelter from the ongoing uncertainty troubling global capital markets.
The attendant chart displays the total historical funds available to UT at each fiscal year-end for the past ten years, broken down into four categories. On June 30, 2012, endowments stood at roughly $612 million and the Chairs of Excellence, $114 million; the University of Chattanooga Foundation held $101 million; and Life Income Trusts contained $42 million.
The $612 million in endowments are invested through the University’s Consolidated Investment Pool, which was established in 1954 to allow for diversification and efficient investment of all endowed assets, regardless of size. The long-term goal of the pooled endowment investment program is to provide a sustainable and increasing level of support for University programs, while preserving the real purchasing power of the endowments for the future in perpetuity.
Over the last 12 months, the pool generated a total return of -2.2 percent, and +5.5 percent over the last decade. In addition, it distributed $26.4 million in fiscal 2012, a decline of $5.5 million from the prior year. The distribution, calculated using a rolling calendar three-year average of the pool’s market value, was affected by both the increase in the
expenses charged against the pool and the lingering effects of the credit crisis. The funds distributed in any given year equal 4.5 percent of that three-year rolling average.
Finally, the Tennessee Chairs of Excellence provided $3.4 million and the University of Chattanooga Foundation $6.1 million for the fiscal year. Both of these categories are managed outside the pool. The Chairs of Excellence are administered by the treasurer of the state of Tennessee for the benefit of all UT campuses. The University of Chattanooga Foundation is managed by its foundation board and supports programs at UT Chattanooga only.
