FY 2021-2022 U-M Budget

Each spring, Financial Analysis begins gathering data from all areas of the university to produce a comprehensive and detailed budget report for use by the university community and general public. The 2021-2022 budgets, which were approved by the Board of Regents in June, have now been published and distributed following the September Board of Regents meeting.

There are currently two different versions of the budget available at the following links:

Quasi-Endowment Update

This email was sent to all deans, directors, and department heads and financial unit liaisons as well as members of BAG and VP-BAG.

Facilities and Administrative Rates for Federal Sponsored Programs

Following is an important update about the university's Facilities and Administrative (F&A) Rate Agreement for federal sponsored programs. 

We recently completed negotiation of a four-year extension to our current rate agreement that continues our existing rates through June 30, 2024.  The extension also allows use of these rates as provisional for periods after June 30, 2024, until our next rate agreement is negotiated.

FAQ for New COVID Program Code

As you know, a new program code—COVID—was created within M-Pathways for units to identify incremental costs (i.e. additional costs above and beyond those expected to be incurred under normal operations) associated with the university's response to the COVID-19 pandemic. In addition, this program code can be used for incremental revenue and revenue adjustments (e.g. refunds).

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