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2024-2025 Operating Budget

2024-2025 Annual Operating Budget Book
(Download Full Budget Book)

The FY 2024-25 (FY25) Budget Book presented here provides a high-level view of operating revenues and expenses for the University and its major operating units and describes the process and priorities that have guided decision-making across campus during budget development.

This balanced, all-funds budget conforms to all UNC system guidelines, while reflecting Board of Governors, System and University strategic priorities. This is the third consecutive year of developing an all-funds budget, leveraging an additional year of budget data for more informed decision-making. The experience gained over the past two years has significantly matured the budgeting process. This year we also benefited from a new budgeting tool and streamlined processes established over the previous two years.

The FY25 All-Funds Budget totals $4.2 billion, focusing significant additional investment to activities aligned with Carolina’s four strategic budget priorities — Addressing State Priorities, Supporting Carolina’s Excellence, Enhancing Campus Safety and Accessibility, and Solidifying Investments — with preference for requests that support more than a single priority and illustrate benefit to multiple units across campus.

The FY 2024-25 Operating Budget was presented to the Board of Trustees on March 27, 2024, and was submitted to the Board of Governors for review on May 22, 2024.

This online version of the report contains a downloadable PDF of the full report. Areas of interest can also be directly accessed by using the links below.

Introductory Section

2024-2025 Budget Process and Conventions

University All-Funds Budget

Campus Unit Operating Budgets