2018 Budget

To the students of Columbia College Chicago:

At its most recent meeting on September 26, the Columbia College Chicago Board of Trustees approved a final $187.7 million operating budget for the 2017-18 fiscal year. The budget funds important initiatives such as continued upgrades of the campus IT infrastructure, and it maintains almost the same level of student scholarship support as last year, even though overall enrollment has declined. In addition, the Board in a separate vote approved $56 million in capital investments for 2017-18. These include projects such as the new student center, on which ground will be broken later this fall, and the renovation of the Getz Theatre, which will be completed in early 2018.

As it has done for the past few years, the business affairs office has prepared a presentation about the new operating budget and its component parts. We hope that the charts and supporting narrative will provide some clarity about how the college obtains and allocates resources to advance its mission.

Jerry Tarrer
Senior Vice President for Business Affairs/CFO

Stanley T. Wearden
Senior Vice President and Provost


Composition of Unrestricted Revenues

(Dollar amounts in millions)

For Fiscal Year 2018, the College's expenses total $187.7 million:

  • Tuition & Fees, net, $147.4
  • Residence Halls, net, $25.6
  • Instructional Lessons, $1.3
  • Sales and Services, $0.9
  • Gifts, Contracts, Other Income, $1.2
  • Investment Income for Operations, $11.3
Tuition & Fees, net
  • Tuition Revenues: Tuition charged to students enrolled in the college’s academic programs and courses during the academic year and summer session.
  • Scholarships: Financial aid awards to eligible students enrolled in formal coursework; other grants and stipends to eligible students.
  • Fees: Instructional resource fees charged to students enrolled in programs or courses of study requiring supplies, materials, services, and equipment not covered by tuition charges; other fees charged to students for programs and services such as international programs, the health center, student orientation, U-Pass, and transcript requests.
  • Tuition Allowances: Estimated uncollectible student charges (tuition, fees, residence hall room charges).
Residence Halls

Includes room, meal plan, and supplemental meal plan charges for students living in college-owned and college-leased residence halls.

Instructional Lessons
Instructional lessons and fees for non-degree-seeking students – primarily instruction through the Office of Community and Continuing Education, for the Sherwood Community Music School, pre-collegiate programs, and summer camps.
Sales and Services
Single, group, and subscription ticket sales to college programs and performances; sales of published works; advertising sales; fees received for conferences held, sponsored, or hosted at the college; charges for educational classes or workshops offered to the general public; commissions generated by the use of vending machines and over-the-counter food services; and sales from the college Bookstore.
Gifts, Contracts, Other Income
Gifts and contract income provided to the college by individuals, foundations, corporations, and other organizations for unrestricted use; income from rental of space or equipment.
Investment Income for Operations
Interest and dividend income from the college’s investments used to support the operating budget, in accordance with policies established by the Board of Trustees.

Composition of Unrestricted Expenses by Function

(Dollar amounts in millions)

For Fiscal Year 2018, the College's expenses total $187.7 million:

  • Instructional Departments, $59.0
  • Auxiliary Enterprises and Centers, $3.5
  • Library, $3.2
  • Academic Administration, $15.7
  • Student Services, $25.1
  • Residence Halls, $23.8
  • Depreciation, Debt Interest, $18.3
  • Physical Plant, $7.9
  • Institutional Advancement, $6.1
  • College Administration, $25.1
Instructional Departments
Departments that deliver the college’s academic programs. Includes the cost of faculty, support staff, and related expenses. Excludes academic administration whose primary function is administrative rather than instructional – for example, the provost’s and deans’ offices.
Student Services
Departments that support students’ emotional and physical well-being and intellectual, cultural, and social development outside of the classroom. Also includes the admissions, career center, student financial services, and student life offices.
Library
Includes the Columbia College Chicago Library and inter-library loan program expenses.
Institutional Advancement
Development and fundraising activities, alumni and community relations, and communication and marketing.
Academic Administration
Departments that support academic instruction and the college’s public service mission. Includes the provost’s and deans’ offices, academic initiatives, and related academic support.
College Administration
Management of, and long-range planning for, the college; fiscal operations; administrative information technology; space management; human resources and non-academic records; procurement; legal services and security; support services for faculty and staff.
Physical Plant
Departments that operate and maintain the physical plant, both facilities and grounds (excluding residence halls). Includes utilities and maintenance.
Residence Halls
Includes both college-owned and college-leased properties. Expenditures include personnel, supplies, services, lease payments, and the operation and maintenance of plant.
Auxiliary Enterprises and Centers
Departments that furnish goods or services to students, faculty, or staff, or that provide non-instructional services to external individuals and groups. Includes ShopColumbia, the retail Computer Store, community service activities, and arts- and media-focused research and outreach centers (Museum of Contemporary Photography, Center for Community Arts Partnerships, etc.).
Depreciation and Interest
Depreciation allocates the cost of fixed assets – buildings, equipment – over the useful life of those assets. Interest expense is the cost of repaying loans used to finance the acquisition, construction, renovation, and equipping of educational or student housing facilities.

Composition of Unrestricted Expenses by Category

(Dollar amounts in millions)

For Fiscal Year 2018, the College's expenses total $187.7 million:

  • Salaries and Wages, $82.8
  • Employee Benefits, $27.0
  • Supplies and Services, $24.4
  • Operation Maintenance of Plant, $35.2
  • Depreciation and Amortization, $15.1
  • Debt Interest, $3.2
Salaries and Wages
Includes salaries, wages, and stipends paid to full- and part-time faculty and staff. Also includes per diem payments to faculty and staff for services such as guest lecturing, counseling and advising, tutoring, and attending meetings. Includes student employment and Federal Work-Study wages.
Employee Benefits
Includes employee medical, dental, vision, life, and disability insurance premiums funded by the college; contributions to employee pension plans; Federal Insurance Contributions Act (FICA) tax payments to the Social Security and Medicare trust funds; employee tuition remission; and the cost of operating the college’s in-house wellness clinic.
Supplies and Services
Includes supplies used in the recurring operations of the college, equipment, and non-personnel services contracted for in the normal course of operations. Subcategories include faculty/staff professional development, paper and printing service, postage and shipping, supplies and materials, professional fees, contracted services, and capital purchases.
Operation and Maintenance of Plant
Includes facilities operations, which are the day-to-day services required to operate the college's buildings and grounds, and maintenance, which is the upkeep of property and facilities. Subcategories include leases, including college-leased residence halls; utilities (electricity, gas, and water); communications; security; housekeeping; equipment repairs; building maintenance and repairs; and fees and insurance.
Depreciation and Amortization
Depreciation allocates the cost of fixed assets – buildings, equipment – over the useful life of those assets.
Debt Interest
Interest expense is the cost of repaying loans used to finance the acquisition, construction, renovation, and equipping of educational and student housing facilities.