FY 2023-2024 MSU Operating Budget

Beginning in the Fall, The Office Financial Planning & Budget begins gathering data from all areas of the university to produce a comprehensive and detailed budget report for use by the university community and general public.

The FY 2023-2024 budgets, which were approved by the MSU Board of Trustees in June, have now been published and distributed. The fiscal year 2023-2024 operating budget includes the General Fund, Designated Fund, Auxiliary Fund and Expendable Restricted Fund.

The FY2023-2024 Operating Budget Resolution was presented to the Board of Trustees in June of 2023 for the fiscal year ending in June 2024.
The FY 2023-2024 Budget Narrative is presented a supplemental material to the Board of Trustees as a detailed overview narrative.

Note: Previous fiscal year publications are found on the MSU Board of Trustees Past Meetings website. BOT approved FY23 Operating budget found here.

Budget Framework and Considerations

The fiscal year 2023-2024 operating budget includes the General Fund, Designated Fund, Auxiliary Fund and Expendable Restricted Fund. The General Fund consists of unrestricted operating funds that are budgeted and allocated for general operations such as instructional activity, departmental research, maintenance and utilities, financial aid, and other initiatives and support activities. MSU utilizes an incremental budgeting model. The General Fund budget is based on a framework that builds on top of the budget from the prior fiscal year. It includes both recurring and nonrecurring components.

The General Fund's revenue sources include programmatic investments, annual reallocations (Increments in salary, supplies, services, etc.), revenue-based initiatives, alterations and improvements, and indirect cost recovery.