• The University has a diversified revenue base. No single source generated more than 32 percent of the total fiscal year 2001 operating revenues of $2.2 billion.

• State appropriated dollars (16 percent) and student tuition and fees (12 percent) were key sources of funds, providing $608 million in 2001, primarily for instructional activities.

• Grants and contracts (30 percent) generated $643 million of current-year revenue, a 7 percent increase over fiscal year 2000. These funds provided the opportunity for graduate and undergraduate students to work with nationally recognized faculty in research as part of their educational experience.

• Operating income from gifts totaled $52 million (2 percent). This private support gave the University an added margin of excellence and the flexibility to respond to special opportunities.

• Approximately 44 percent of total expenditures supported two primary functions of the University: instruction and research (see figure 2). These dollars provided instruction to more than 39,000 students and funded 4,800 research awards.

• The University provided students with scholarships and fellowships that totaled over $88 million (4 percent of expenditures).