Budget & Funding

The UM System operates under a budget model that pairs campus autonomy with financial accountability. Each university keeps the revenue it generates, and the Board of Curators sets financial performance expectations that inform approval of budgets, capital projects, and debt. System resources, including investment pool earnings and state appropriations, are allocated to reflect each institution's contribution and mission, and shared administrative services are organized in four tiers with costs allocated by operating expense or consumption. The following excerpt from the Council of Chancellors report outlines these principles in more detail.

Excerpt of Nov. 2020 Council of Chancellors Report (Archive, PDF)

As a publicly-funded institution, the University submits a request each year to the State of Missouri to fund a portion of its core operating funds. Appropriations are the state’s investment in the University’s mission and its impact on students, communities and the state’s economy.

The University also will sometimes ask for funding for capital projects, which are major, long-term investments in physical assets to build, improve or repair University facilities.

Student tuition and fees make up part of the university’s core operating fund, which helps pay for academic programs, student services like advising and libraries, campus maintenance and safety, and extracurricular activities. Rates are established for all UM System institutions by the Board of Curators. Billing, refunds and other related student finance transactions are handled by your local cashier’s office.