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Types of Funds

Illinois State University obtains funds from a variety of sources in order to sustain University operations.

General Revenue

State appropriated funds and the University Income Fund are collectively budgeted as General Revenue Funds.

Funding comes from the following areas:

  • State Appropriations: These dollars are appropriated to Illinois State University annually by the General Assembly and approved by the Governor for general operating expenses. The University also receives revenue from the State College and University Trust Fund through sales of collegiate license plates for the purpose of scholarship awards to Illinois students.
  • University Income Fund: These dollars include annual tuition and fee revenue and miscellaneous instruction fees.

General Revenue funds are used to support the academic mission of Illinois State University.

Other Local (Agency) Funds

Agency funds include dollars generated by self-supporting units.

Sources of revenue include the following:

  • Student Fees (i.e. activity, health, athletic)
  • Course material fees
  • Continuing Education/Public Service (i.e. ticket sales, conference registrations)
  • Sales & Services of Educational Activities (i.e. Milner Library, transcript fees)

Use of these funds is restricted to the specific purpose for which they are charged.

Bond (Auxiliary Facilities System - AFS) Revenue

Illinois State University’s broad categories of auxiliary enterprises include housing, student activities, and parking.

Sources of revenue include the following:

  • Proceeds from bond sales for use in financing, constructing, and maintaining facilities.
  • Revenues from the operations of facilities constructed with proceeds from debt issued by the University.
  • Specific student fees assessed for maintaining facilities and providing student services.

Bond Revenue (AFS) funds are used for the operations of the unit and to repay the debt issued to fund the construction of the facility.

Legislative Audit Commission Guidelines prohibit the use of these funds for any other purpose.

Grants and Contracts

These funds are awarded to individual faculty or staff members for research projects or institutional improvement.

Sources of revenue include the following:

  • Grants from Federal, State, Local and Private agencies.
  • Federal and state student financial aid funds granted to the University to be distributed to students.

Use of these funds is strictly governed by the individual guidelines of the granting agency.


The Illinois State University Foundation is a not-for-profit organization that manages the private gifts that are given to the University each year. These dollars support many student scholarships, professorships, research, and other opportunities for students of Illinois State University.

The work of the Foundation:

  • Manages the portfolio investments of the University’s endowment.
  • Distributes dollars to fulfill the wishes of alumni and friends who support the University.
  • Ensures that money given to Illinois State University is used as the donor intended and is consistent with the mission of the University.

Learn More about Budgets

Take a look at the Fiscal Overview presentation for a more in-depth look at the budget process and fund types.