#Revenue expenses full

Space: Space and occupancy, depreciation, interest salaries, wages and benefits), which represents approximately half of the University's total operating expense, increased 5%. While spending has rebounded in many areas across the University, overall expense growth lagged revenue growth due to continued pandemic and external market conditions. Total operating expenses increased by $464 million or 9% to $5.4 billion. Sources of Operating Revenue for Fiscal 2022Įndowment income made available for operations Harvard’s diversified revenue portfolio relies on three main sources of revenue: education or tuition, sponsored research, and philanthropy. Total operating revenue increased 11% or $587 million to $5.8 billion.

#Revenue expenses full

Read the full FY22 Financial Overview from the Vice President for Finance and the Treasurer

While on-campus activities and programming revitalized revenue with more students enrolled than any year prior, expenses were constrained by evolving pandemic restrictions, high vacancy rates in staffing, and sourcing challenges for goods and services. The result marks the first time that revenue and expenses have exceeded pre-pandemic levels. The University ended fiscal year 2022 with an operating surplus of $406 million compared to $283 million in fiscal year 2021. Summarized financial information for the year ended June 30, 2022