Business August 13, 2026
Board of Trustees approves University of Utah budgets
University of Utah Communications -
University of Utah Board of Trustees members have approved U of U Health, ARUP and an enterprise-wide budget this summer.
The budget reviews and approvals are part of a new process required by the state of Utah.
At an Aug. 11 meeting, new Chief Financial Officer Gary McArthur noted the university’s financial strength over the past five years, including:
Student enrollment growth from 34,484 in 2021 to 38,261 in 2026
General revenues increasing from $6.6 billion five years ago to an estimated $10.2 billion this year
Research revenue expanding from $641 million to $782 million over the same time period, and
The university’s endowment nearly doubling in value to $2.1 billion
“We’re doing some amazing things,” he said.
University of Utah growth from 2021 to 2026.
At the same time, McArthur highlighted President Taylor Randall’s audacious goals, including:
New hospitals and clinics in West Valley City, Vineyard and the Point of the Mountain
Boosting the university’s six-year graduation rate above 80% and job placement rates to 90%
Transforming a historically commuter campus into an activated residential village called College Town MagicTM
A Top 10 public university ranking
To achieve that vision, the university will invest significantly over the next five years, McArthur said. That funding will come from bonding, improving operations performance, and increased philanthropy.
The university is projected to have $10.6 billion in total revenue for Fiscal Year 2027, up from $10.2 billion in Fiscal Year 2026. Just over half of operating revenue, 55%, is wages and salaries for staff and faculty. The next biggest expense is supplies and medicine. State funding is just 6% of the university’s operating revenue, lower than what is received for most like institutions. And the university faces headwinds from reduced federal funding and changes to government reimbursements to hospitals.
While revenues and expenses have grown proportionally, McArthur said improving the institution’s operating margin presents a strategic opportunity. The university will be implementing several initiatives over the next year to improve operating margins, “so that when we get into Fiscal Year 2028, we’re in a better place,” he said.
