UCSB reports record $1.3B income for 21-22 year, meeting climbing expenses

UC Santa Barbara’s total income climbed to $1.3 billion and its expenses to $1.29 billion during the 2021-22 fiscal year — both record-high totals that showcase the growing nature of the university as it spent more on student services, instruction and financial aid than ever.

The sum, held in over 4,400 monetary funds, was collected largely from students and state taxes. The campus reports its income and expenses in the campus profile released annually, which details a breakdown of funding sources and where that money goes. The Nexus visualized the campus’ income and spending.

Campus Income

UCSB collected $1,301,077,000 throughout the last fiscal year, which is nearly $200 million over the campus’ income the year prior. The largest source stemmed from money students paid in fees and tuition — $467.6 million in total and over $16 million increase from the year prior.

Revenue increased in anticipation of a slew of rising costs, including compensation increases mandated by collective bargaining agreements, and employee health and retirement benefits, outlined in the campus’ budget manual.

Direct funding from the State of California continued to make up a declining portion of the campus’ budget, falling from 43% two decades ago to 24% last year. The dollar amount of support, while slightly greater than it was 20 years ago, holds less value when adjusted for inflation.

In light of stagnating state funding, UCSB sought out millions of dollars in private philanthropy — over $1.6 billion in the past two decades — from both small donors and multi-billionaires alike.

In light of stagnating state funding, UCSB continually seeks out millions of dollars in private philanthropy — over $1.6 billion in the past two decades — from both small donors and multi-billionaires alike.

The campus recently announced a new fundraising campaign that aims to raise $2 billion over the next seven years to help soothe funding shortfalls.

UCSB brought in $144 million from auxiliary enterprises, services offered to students unrelated to education, among them campus housing, dining halls and parking.

The budget manual indicates that none of the funding for auxiliary enterprises is provided by the state of California, putting the burden of any increased costs onto students utilizing the services.

Campus Expenses

The largest allocation within the campus’ billion-dollar budget went to the instruction and education of students — $379.5 million in total.

The next largest allocation, $204 million, was put towards campus research.

Student services — including counseling, career guidance and student health — are paid for by students at a fee rate set by the UC Regents included in students’ tuition.

Last year, the campus spent nearly $100 million on such services.

Around 28% of money generated from undergraduate student fees are allocated toward students’ financial aid.

UCSB students received $134.4 million in aid during the last fiscal year, an all time high for the campus.

UCSB brought in $7,234,000 more than it spent last year, surplus money used to pay the campus’ debts and other expenses including “capitalized expenditures and equity payments supporting the capital program,” according to the campus profile.