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 aggregated and collectively budgeted as General Revenue Funds.
Other Local (Agency) Funds: Includes monies generated by self-supporting units, monies from student fees such as the athletic fee, and monies generated by charging a course material fee. These funds are restricted in use to the specific purpose for which they are charged. In other words, revenue generated from a course material fee must be used to purchase materials for this same course in the future.
Bond (Auxiliary Facilities System - AFS) Funds: Revenues that are derived from the operation of facilities constructed with proceeds from debt issued by the University, such as residence halls and dining centers, as well as specific fees assessed for constructing facilities and providing student services. The revenue generated from the fees is used for both the operations of the unit and to repay the debt issued to fund construction of the facility. Legislative Audit Commission Guidelines prohibit the use of these funds for any other purpose. Illinois State University’s broad categories of auxiliary enterprises include housing, student activities, and parking.
Grants and Contracts: Includes funds that are awarded to individual faculty or staff members for research projects or institutional improvement. Funds may come from federal, state, or local grant agencies and are governed by individual guidelines of the agency. Also included in the category are federal and state student financial aid funds granted to the University to be distributed to students.
Foundation: The Illinois State University Foundation is a University-related, nonprofit corporation, organized under the laws of the State of Illinois. The Foundation assists in developing and increasing educational opportunities and the facilities of the University for service to its students, alumni, and citizens of the State and nation by encouraging gifts of money, property, art, historic papers and documents, museum specimens, and other material having educational, artistic, or historic value. The Foundation administers these gifts to ensure that the intent and integrity of the donor is properly exercised.