Board Of Trustees Approves $483.4 Million Total State Appropriation Request For 2024-2025 Fiscal Year
Penn State’s Board of Trustees unanimously approved a $483,373,000 total state appropriation request for the 2024-2025 fiscal year at its meeting on Friday. This would be an approximate increase of $120.1 million from the expected 2023-2024 appropriation.
The request includes a $108.8 million increase for the university’s general support appropriation compared to the 2023-2024 appropriation.
This request also specifies $33.1 million for the Pennsylvania College of Technology (a $4.4 million increase), $16.1 million for Penn State Health and College of Medicine (a $765,000 increase), and $61.7 million for agriculture research & extension (a $4.0 million increase).
Additionally, the Board of Trustees requests $2 million under a special request. This funding, if granted, will allow the College of Agricultural Sciences to launch an “Emerging and Advanced Technology Initiative.”
Currently, Penn State is receiving approximately $5,757 per undergraduate student, which is significantly lower than other state schools. Both Temple University and the University of Pittsburgh receive just over $9,000 per student.
The 2024-2025 appropriations request would increase the university’s per-student funding to the same amount as the PA State System of Higher Education (PASSHE). This would amount to about $8,700 per student.
Penn State will submit the appropriations request to the state government in October. Pennsylvania Governor Josh Shapiro will release his initial budget proposal in February of 2024, with appropriations hearings scheduled for March 2024. The legislature will then approve the state’s budget following negotiations as necessary.
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If you couldn’t be in Champaign this weekend, check out the Nittany Lions’ victory through the eyes of our photographers.
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