The FY10 budget was developed and approved in June 2009 with an operating deficit of
$4.28 million. Subsequently, the FY09 fiscal year ended with an operating surplus of
$1.3 million. This surplus was achieved without the use of the $8.2 million budget
contingency established at the end of FY08. These funds are available as a contingency
for the FY10 budget. This contingency, and the positive results in FY09, position the
University to project balanced operations for FY10.
