The university's proposed operating budget for 2008-09 is approximately $1.8 billion per year, with 40 percent of that amount funded by state appropriations and tuition. This is referred to as the "state-aided budget."

State tax funds represent 68 percent of the state-aided budget, but only 27 percent of the total operating budget for the university.

The majority of the university's budget is spent on personnel costs, including salaries and benefits for nearly 4,000 faculty and 8,000 staff.