December 6, 2019
Purdue treasurer says university is in top fiscal shape
WEST LAFAYETTE, Ind. — Purdue University’s chief financial officer and treasurer told the university’s board of trustees Friday (Dec. 6) that the university system is financially strong and positioned for continued fiscal success in coming years.
The newly released 2019 Financial Report shows an increase in net position of $219 million from the previous year. A number of factors contributed to the gain, including another year of increased enrollment, record giving to the university, strong investment returns on the endowment and operational efficiencies.
“Boilermakers have many to thank for our strong financial situation,” said Bill Sullivan, chief financial officer and treasurer. “Without the students and faculty, the trust of lawmakers, the generosity of donors, or the prudent leadership of the administration and the professionals in the business office, we would not be in the enviable position we are.”
While state appropriations for the university system declined as a percent of all revenues from 16% in 2018 to 14% in 2019, nominal funding from the state was up slightly for FY20 and operating appropriations will increase by approximately $5 million for FY21.
As for giving, in the last three years, Purdue has broken its annual fundraising records for net production, raising $352 million in 2017, $452 million in 2018, and $518 million in 2019. The same is true for the annual number of donors, which now surpass 88,000, up 29,000 since 2012.
From a balance sheet perspective, the university ended FY19 with total assets of $6.5 billion and liabilities of $1.6 billion, resulting in a year-end net position of $4.9 billion.
Media contact: Tim Doty, 765-494-2080, email@example.com