The university is planning a $153 million budget for next year, although that number may change depending on enrollment.
It’s a 4.5 percent increase from this year’s $147 million budget, but Vice President for Business Affairs Gary Anna said there will likely be closer to $150 million spent by the end of this year.
“Well over 50 percent of our costs are human resource-related,” he said of the $85 million cost. “We have to keep supporting our faculty, they’re our frontline service deliverers.”
Human resources costs don’t only include salaries, but social security, insurance and other benefits. For example, the university spends $7 million a year on health insurance, Anna said.
Each student ends up paying about $7,500 for faculty and staff from his or her tuition.
Another large portion of the budget goes to financial assistance, with $38 million allotted toward that this year. Ten million dollars goes toward facilities.
“Our goal is not to ultimately make money but cover our costs and maybe make some we can reinvest in the system,” Anna said. “The devil is in the details.”
Those details include small expenses such as academic, landscaping and custodial supplies, paper products and library materials. Others, such as the amount of salt needed to melt ice and what it will cost to heat and cool buildings, are unpredictable.
“We try to make adjustments,” Anna said. “It’s a little more complicated given the economy, but we’re working. It’s no different than managing your own budget.”
He said one of Bradley’s goals is to remain reasonably priced compared to other private schools. Yet students shouldn’t correlate next year’s 5 percent tuition increase with the 4.5 percent budget hike.
“You have to be careful when you simplify,” Anna said. “There are other revenue indicators– cash invested, endowment, unrestricted private giving.”
Anna also said Bradley is conscious of keeping tuition and fees low compared to other private universities.
Although it may sound as if 5,000 people paying $50 for parking is a lot, that’s $250,000, whereas the parking deck cost $14 million. Some schools charge up to $400 for parking, he said.
Some years the budget changes more than others, but it usually fluctuates around 2 percent. Each department has its own parameters to work within, and Anna said it’s important to keep the cost of the residence halls separate from other university costs.
“We want to make sure students who attend Bradley off campus aren’t paying for students eating in Williams [Hall] and Geisert [Hall],” he said. “We recognize a lot of our residence halls were built in the ‘60s , they have some quirks to them some of the areas are a little warmer, some cooler.”
The university spends about $2 million a year on electricity, which translates to $219 per student. Students also only pay $72 a year for cable, a small fraction of what off-campus residents pay.
Water costs about $300,000 a year and $3 million is spent on Food Services.
Campus police costs around $750,000.