University Financial Summary
In fiscal year (FY) 2022, the University’s overall financial position increased by $33.4 million primarily due to increased operating revenues generated as the COVID-19 pandemic waned, combined with a change in the Department of Retirement Systems (DRS) pension reporting, and revenue recognition of FY 2021 Higher Education Emergency Relief Funds (HEERF).
Total operating revenues increased $43.7 million in FY 2022 primarily due to the Housing and Dining system being fully functioning to provide student services along with a 2.8% increase in tuition operating fees.
WWU was provided a total of $64.0 million in HEERF I, II, and III funds. Of the $64.0 million, $27.7 million are to be used to provide emergency financial aid grants to students for expenses related to the disruption of campus operations. The remaining $36.3 million was used to cover any costs associated with significant changes to the delivery of instruction. As of June 30, 2022, $24.7 million has been spent on financial aid grants to students and $34.9 million to reimburse WWU for allowable expenses and lost revenue.
During FY 2022, salaries and wages increased $12.7 million as
all employees received wage and retroactive pay increases combined with an increase in student employees as the COVID 19 hiring freeze was lifted. Overall benefits expense decreased $5.9 million (-13.6%) primarily due to decreases in actuarially calculated pension expenses offset by an increase in Other Post Employment Benefits (OPEB) expenses.
Learn more at wwu.edu/financials
Western's Newest Building: Kaiser Borsari Hall
Western's newest building, the future home of electrical and computer engineering, energy science, and computer science programs, will be the first publicly funded zero-energy academic building on a university campus in Washington state.
Construction is under way with support beams made of glue-laminated timber, sustainably harvested with a much smaller carbon footprint than concrete and steel beams
Building Washington's Future
To learn more about Kaiser Borsari Hall, visit foundation.wwu.edu/building-washingtons-future
Kaiser Borsari Hall is going up next to the Communications Building.
Total Assets vs. Net Position
Total Revenues by Source for the Year Ended June 30, 2022
$379,542 (in thousands)
Total Expenses by Natural Classification for the Year Ended June 30, 2022
$346,187 (in thousands)