Fiscal year 2015 saw ongoing improvement in the university’s finances as revenues remained strong, expenditures reflected strategic priorities and endowment values and private giving reached record levels. William & Mary’s financial health continues to reflect our ability to recruit outstanding students, our status as both a public institution within the Commonwealth of Virginia and a nationally and internationally recognized “Public Ivy;” the ability to raise revenue through tuition and fees, grants and contracts, and philanthropy; and, a willingness to reallocate funds toward higher-priority items.
William & Mary continues to recruit, admit and retain top-caliber students even as the College competes against the most selective public and private institutions in the country. Freshman applications reached a new high of 14,953 for fall 2015. The credentials of our admitted students remain strong, reflecting the highly selective nature of the university. This strength, coupled with our institution’s academic reputation, suggests significant student demand well into the future.
State support for operations is a function of general economic conditions and the priority assigned to higher education among competing demands for commonwealth resources. Unstable financial conditions resulted in a reduction of state funding for William & Mary by 5.7 percent in fiscal year 2015. This again demonstrates that we exercise caution in making budget commitments that assume state investment. Revenue from tuition and fees, self-supporting auxiliary enterprise activities (residence halls, food service, intercollegiate athletics, etc.); grants and contracts; and, private giving continue to provide the diversity of funding critical to the university’s overall financial health. View the full financial report (pdf).