The University of Connecticut has made $99,140,746 in the 2019 fiscal year. Photo courtesy of File Photo / The Daily Campus.
The University of Connecticut made $3,812,740 more from housing in the 2019 fiscal year than 2018, according to the UConn Residential Life budget obtained by a freedom of information request.
UConn made $95,328,006 for the 2018 fiscal year, while it made $99,140,746 in the 2019 fiscal year.
The total net increase between expenses and revenues in 2018 was $20,476,293. For 2019, the net decrease between expenses and housing revenues was $16,708,517. This number is calculated by subtracting Residential Life’s expenses from their revenues.
Pamela Schipani, executive director of Residential Life, said costs increase due to personnel and benefit changes. These rate changes are approved by the Board of Trustees, Schipani said.
“Rate increases generally are based on changes in the fringe benefits rates and personnel costs for all staff. These are contractual,” Schipani said. “In addition, costs of goods and services go up each year and these changes are factored into rate increases.”
Facilities and other indirect overhead expenses increased by more than $5.7 million from 2018 to 2019.
According to Megan Philippi, Director of Public Records, facilities and indirect overload includes payroll, fringe benefits, supplies and services related to all custodial cleaning, maintenance and minor repair of all the dorms, handled by Facilities on a 24/7 basis. It also includes payments for central administrative services provided by the university that are not directly charged to Residential Life, such as police and fire, security, human resources, payroll and accounting.
Debt service and other project expenses, which accounts for 14% of the total expenses for 2019, decreased $108,113 from 2018.
“The majority of the debt services represent the annual debt service payments principal and interest as related to the revenue bonds that were previously issued for dorm replacements and large-scale renovations,” Philippi said.
The other remaining expenses, about $4 million, are for other smaller dorm renovation projects such as dining hall upgrades and restroom rehabilitation projects.
Anthony Zepperi is a campus correspondent for The Daily Campus. He can be reached via email at anthony.zepperi@uconn.edu.
