stanford university Budget Plan › pdf › BudgetBookFY19.pdfStanford has three principal...

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B ud g e t Pl an2018 / 19

Approved:This Budget Plan was approved by the Stanford University Board of Trustees June 13–14, 2018.

This publication can be found at: https://budget.stanford.edu/budget-plans

STA N FO R D U N I V E R S I T Y

B U D G E T P L A N 2 0 1 8 / 1 9

iiiEXECUTIVE SUMMARY

EXECUTIVE SUMMARY

To The Board of Trustees:I am pleased to submit the Stanford University 2018/19 Budget Plan for approval. This budget builds

on Stanford’s many strengths and begins to incorporate early stage investments in selected initiatives

emerging from the Long Range Planning (LRP) process.

The development of the budget over the past several months has been running a few steps ahead of the

LRP process. Nonetheless, we were confident enough in some of the key planning directions that they

have become important priorities and received initial incremental funding in the 2018/19 budget. These

initiatives are described below. Otherwise, we have taken a measured approach in maintaining Stanford’s

base operating structure and in funding a small number of new programs. Our overall financial reserve

position has strengthened, providing some capacity for future enhancements emerging from the LRP

process.

The Budget Plan has two parts. The first is the Consolidated Budget for Operations, which includes all

of Stanford’s anticipated operating revenue and expense for 2018/19. The second is the Capital Budget,

which is set in the context of a multi-year Capital Plan. The budgets for Stanford Health Care and Stanford

Children’s Health, both separate corporations, are not included in this Budget Plan, although they are

incorporated into the university’s annual audited financial report.

Highlights of the Budget Plan:

n The Consolidated Budget for Operations projects a surplus of $171 million on $6.5 billion of revenues,

$6.2 billion in expenditures, and $141 million in transfers. We anticipate revenue to increase 3.3%

over the projected 2017/18 year-end results. This is the result, principally, of a 7.5% increase in health

care services revenue and a 6.5% growth in investment income, offset by a 10.9% reduction in SLAC

sponsored research activity, which is driven by a reduced construction program compared to 2017/18.

Overall, we are budgeting a 4.9% increase in expenses, resulting from a 7.2% growth in compensation

coupled with a 1.3% growth in all other expenses.

n Within the $6.5 billion in revenues in the Consolidated Budget are $1.5 billion in general funds, of which

$204 million flows to the Graduate School of Business, the School of Medicine, and Continuing Studies

in accordance with formula agreements. There will be $153 million set aside for the Capital Facilities

Fund and other housing and facilities reserves. We anticipate a general funds surplus of $15 million,

after reserving $15 million to support initiatives emerging from the LRP process in the coming years.

n This Budget Plan presents the projected 2018/19 results in a format consistent with accounting

principles generally accepted in the United States of America (U.S. GAAP), as reported in the

university’s annual financial report. The projected Statement of Activities shows a $50.7 million

surplus.

n The Capital Budget calls for $1.2 billion in expenditures in 2018/19. These expenditures are in support

of a Capital Plan whose projects, when fully completed, will total approximately $4.1 billion. Capital

expenditures in 2018/19 will be directed toward the following large projects:

iv EXECUTIVE SUMMARY

u $442 million toward the $1,161 million Escondido Village Graduate Residences opening in fall 2020.

u $143 million for Stanford Redwood City. This is part of a multi-year project to build an

administrative campus in Redwood City at a total cost of $569 million. It is expected to open in

February 2019 and be fully operational by the end of the 2018/19 fiscal year.

u $102 million for the $222 million BioMedical Innovations Building.

u $96 million for the $257 million Neuro/ChEM-H Research Complex.

STRATEGIC CONTEXT

The context in which we have developed the 2018/19 Budget Plan has been shaped by several factors:

n Long Range Planning—The initial outcomes from the Long Range Planning process have helped to set

some important programmatic and budgetary priorities for Stanford for the coming years. Some of the

key initiatives, particularly around affordability and diversity, received initial funding in this 2018/19

budget. Clearly, institutional directions set by the LRP initiatives will guide budget planning for many

years to come.

n Endowment Payout Growth—The growth in payout from a typical endowment fund will be 3.1%

for 2018/19. While this growth rate is considerably higher than in recent years, it will not cover

the anticipated cost increase for expenses associated with endowed funds, be they scholarships,

professorships, or programs. Consequently, managers at all levels of the university who rely on

endowment payout will be looking for ways to reallocate or cut expense to cover the difference

between expense growth and the payout.

n Heightened Concerns Around Affordability—Many Stanford faculty, staff, postdocs, and students

face an increasing challenge of affording to live in the Bay Area. The high cost of housing, child care,

and transportation have continued to accelerate this past year and were a major theme in the LRP

proposals. For Stanford to maintain its excellence, we must develop meaningful solutions to these

challenges.

n Robust Philanthropic Support—The flip side of the affordability situation is the robust local economy.

A considerable portion of Stanford’s strong fundraising results come because of the strong growth in

the region. Many of the area’s established and fastest growing companies, of course, began at Stanford

or were developed by Stanford alumni. We are very fortunate to have many friends who support the

university’s programs.

n Opening of Stanford Redwood City—The new Stanford Redwood City campus will open in mid-

2018/19 and will be fully occupied by the end of the fiscal year. This budget includes operating costs

and debt service for what will be a new and highly desirable self-contained administrative community.

These factors have helped define our major priority areas for the 2018/19 budget:

n Support for Long Range Planning Initiatives—Of the numerous LRP themes announced by President

Tessier-Lavigne in his May 17, 2018 presentation to the Academic Council, several will receive support

in the 2018/19 budget. We seek to move promptly to put initial funding behind some of these

important areas.

u Diversity—One of the announced directions from the LRP process is the establishment of a

presidential initiative called ‘Inclusion, Diversity, Equity and Access in a Learning Community

(IDEAL)’. While many of the specifics will be emerging in the upcoming year, we decided to take

vEXECUTIVE SUMMARY

some initial actions by increasing funding for the community centers and student focused diversity

initiatives. In addition, we will be providing incremental funds to the Faculty Incentive Fund and the

Faculty Development Initiative to enhance Stanford’s efforts to increase the diversity of the faculty.

u Affordability—In light of the very high cost of living in the area, a strong salary program was

budgeted for faculty and staff. In particular, part of the program will be used for high performing

staff members who will most benefit from a salary adjustment. An important outcome of the LRP

process is the creation of a university-wide steering committee on affordability. This group will be

analyzing the many aspects of affordability, including housing, child care, transportation, and other

benefits.

u Undergraduate Financial Aid—Stanford’s support for low income and first-generation college

students continues to grow, resulting in an incremental $4.5 million in undergraduate financial aid.

u Research Computing—As part of the plan to provide infrastructure to support research, funds will

be directed to enhance the Stanford Research Computing Center.

n General Funds Surplus and Reserve for Future LRP Initiatives—It has been our general practice since

the 2008 recession to carry a general funds surplus to protect the budget against potential revenue

shortfalls. For 2018/19 we are carrying a $15 million general funds surplus. In addition, we have $15

million remaining from a $20 million base budget reserve created in 2017/18 for future LRP initiatives.

n Housing—This budget continues our multi-year strategy to expand housing opportunities for students,

faculty, and staff. We are addressing it with several aggressive initiatives:

u Construction is well underway for a 2,434-bed graduate student housing complex in Escondido

Village, with occupancy planned for 2019/20.

u The University Terrace Faculty Homes will be fully available by the end of calendar 2018.

u Stanford is buying homes and apartments in the local area under the $500 million Housing

Acquisition Initiative approved by the Trustees.

u We have approval from the city of Menlo Park to build additional faculty and staff housing at 500

El Camino Real and plan to spend $38 million on the $155 million project in 2018/19, with opening

anticipated in 2019/20.

u Next year Stanford will provide approximately $20 million in subsidies for off-campus apartments

for graduate students, continuing a program begun in 2013, with a cumulative cost over this period

of over $125 million.

FINANCIAL RESERVES

Stanford has three principal categories of financial reserves:

Expendable reserves—We project Stanford’s expendable reserves will stand at $4.3 billion at the end of

2018/19. Of that amount, $3.7 billion is a combination of restricted and unrestricted expendable funds,

and unspent restricted endowment payout. The remaining amount is split among plant, student loan, and

agency funds. These reserves consist of thousands of funds held across the university, largely controlled

by individual faculty, departments, programs, and schools.

vi EXECUTIVE SUMMARY

Tier I Buffer—We project the Tier I Buffer will stand at $1.52 billion by the end of 2018/19. The Tier I

Buffer is comprised of the university’s unrestricted funds functioning as endowment, the payout from

which supports the general funds component of the Consolidated Budget. The majority of the buffer’s

funds are generated by the investment returns on a subset of our expendable reserves. The Tier I Buffer

acts as a backstop to maintain the face value of those expendable funds, which are invested in the merged

pool.

Tier II Buffer—The Tier II Buffer is estimated to be $1.3 billion by the end of 2018/19. Like the Tier I Buffer,

this fund is generated from excess investment returns from expendable reserves, and is invested as funds

functioning as endowment. The payout from the Tier II buffer, however, is used at the discretion of the

president. The corpus of the Tier II buffer acts as a general university reserve.

CONSOLIDATED BUDGET FOR OPERATIONSThe table on the next page shows the main revenue and expense line items for 2018/19 and compares

those numbers to our current projection of final results for 2017/18. Some highlights of both income and

expense follow.

REVENUEStudent Income—This figure is the sum of tuition and room and board income, and is expected to grow

by 4.0%. Tuition income is projected to grow 3.8% over the projected 2017/18 actuals as the result of

a 3.5% increase in the undergraduate and graduate tuition rates and a slight growth in the number of

graduate students. Room and board income is projected to increase 4.6%, due to the 4.3% room and

board rate increase and an increase in dining and conference revenue.

University Sponsored Research—Sponsored research revenues (excluding SLAC) are expected to grow

by 2.4%. Federal research will increase by only 0.9%, while non-federal sponsored research will grow by

3.7%. This shift in sponsor mix has been an accelerating trend in recent years with the share of federal

research support having dropped from 76% five years ago to just 68% projected in 2018/19.

SLAC—SLAC’s revenues are expected to decline by 11%, due to reduced construction activity compared

to 2017/18. When SLAC is included, total sponsored research revenue is expected to decrease by 2.1%

over 2017/18 projected year-end results.

Health Care Services—Revenue from health care services is projected to increase by 7.5% in 2018/19.

This revenue consists principally of payments from the hospitals to the School of Medicine for

faculty physician services. Health care services revenue has been the fastest growing element of the

Consolidated Budget over the last decade, with a compound annual growth rate of 11%. The 2018/19

growth is a bit slower than in recent years, though it still reflects robust clinical activity by Stanford faculty

physicians.

Expendable Gifts—Stanford has enjoyed very strong fundraising results in recent years. Consistent with

the estimate from the Office of Development, we expect expendable gift revenue to be flat in 2018/19.

Investment Income—This category consists of endowment payout ($1,319.9 million) and other

investment income ($292.5 million), principally from the Expendable Funds Pool (EFP). Endowment

payout is projected to increase by 6.7%. The payout growth to a typical endowment fund will be 3.1%

for 2018/19, but overall payout growth is higher due to additions to endowment principal and real estate

income. The Expendable Funds Pool payout is growing by 6% in 2018/19. By Trustee policy, EFP payout

is based on the total return of the pool in the prior year, up to 5.5%.

viiEXECUTIVE SUMMARY

EXPENSECompensation—We anticipate total compensation to increase 7.2% over 2017/18 year-end results. The

increase is comprised of three elements: a strong merit-based salary program, a substantial market/

equity/retention component, and a 3.3% overall increase in headcount.

Financial Aid—The amount of need-based financial aid, athletic aid, and graduate tuition aid will grow by

5.1%. This increase allows Stanford to maintain its generous need-based aid program for undergraduates,

particularly for those families with incomes below $125,000. It also reflects a 4.5% increase in aid for

graduate students, reflecting more generous graduate support in selected disciplines and a slight increase

in the number of graduate students.

Other Operating Expenses—This substantial expense item is the amalgam of graduate stipends,

operations and maintenance, utilities, capital equipment, materials and supplies, travel, library materials,

subcontracts, and professional services. These expenses are projected to decrease by 0.6% in 2018/19,

driven largely by SLAC’s reduced construction activity. Exclusive of SLAC, these expenses will grow

by 3.3%.

CONSOLIDATED BUDGET FOR OPERATIONS, 2018/19[IN MILLIONS OF DOLLARS]

2017/18 2017/18 2018/19 CHANGE FROM 2016/17 BUDGET PROJECTED CONSOLIDATED PROJECTED ACTUALS JUNE 2017 ACTUALS BUDGET ACTUALS

Revenues

905 937 944 Student Income 982 4.0%

1,051 1,085 1,098 University Sponsored Research 1,125 2.4%

585 559 573 SLAC Sponsored Research 510 -10.9%

1,126 1,253 1,220 Health Care Services 1,311 7.5%

Gifts and Net Assets Released 483 391 425 from Restrictions 425 0.0%

1,351 1,519 1,513 Investment Income 1,612 6.5%

531 516 546 Special Program Fees and Other Income 560 2.6%

6,033 6,261 6,319 Total Revenues 6,525 3.3%

Expenses

3,368 3,622 3,594 Compensation 3,854 7.2%

287 298 305 Financial Aid 321 5.1%

199 199 197 Debt Service 222 12.8%

1,762 1,734 1,827 Other Operating Expense 1,817 -0.6%

5,615 5,853 5,924 Total Expense 6,213 4.9%

417 408 395 Operating Results 311

(275) (243) (197) Transfers (141)

143 165 198 Operating Results after Transfers 171

3,198 3,358 3,341 Beginning Fund Balances 3,539

3,341 3,524 3,539 Ending Fund Balances 3,709

viii EXECUTIVE SUMMARY

SCHOOL INITIATIVESStanford’s principal academic units, the seven schools, will advance their agendas in 2018/19. A few

highlights of their plans are:

Graduate School of Business (GSB)—The Business School continues its year-long planning effort focused

on management education and research. The research focus on large scale experiments and the impacts

of digital technology on organizations has already led to the creation of new courses in data sciences and

strategic decision making.

Earth, Energy & Environmental Sciences (SE3)—Under its new dean, Stephen Graham, SE3 is focusing

on enhancing its impact on undergraduates by consolidating three small departmental-based majors into

a school-wide major, expanding field education offerings, and improving support for career exploration. In

addition, the school is actively recruiting new faculty in anticipation of a significant number of upcoming

retirements.

Graduate School of Education (GSE)—Through a recent planning exercise the GSE has developed several

exciting programmatic initiatives, including: building a new special education program, expanding a

program focused on students who face systemic challenges in school for social and cultural reasons,

enhancing capacity in data sciences as a core research strategy, and increasing fellowship support for

the Stanford Teacher Education Program.

Engineering—The school is advancing across all fields of engineering and continues to grow its student

enrollment and faculty. Emerging from the school’s own planning process and the university’s LRP

process, Engineering plans to expand its reach in artificial intelligence and data science; enhance its efforts

to diversify the faculty and students; improve student maker space and shared experimental facilities; and

work on ways to address faculty recruiting and retention challenges in this region.

Humanities and Sciences (H&S)—The school has made significant progress over the past decade under

its outgoing dean, Richard Saller. The school’s faculty is very strong, the physical plant has been renewed,

and the financial situation is stable. The school is concerned about the student shift away from the arts,

humanities, and social sciences, and is developing initiatives to increase the number of majors in those

areas.

Law—The Law School has maintained its very high ranking nationally through ongoing efforts to recruit

the strongest faculty and students. The school anticipates a significant number of faculty retirements in

the coming decade and is establishing a pipeline of new faculty who will become the future of the school.

The school also continues to innovate in its curricular development, expanding its global initiatives, and

addressing the impact of technology on legal decision making.

Medicine—Stanford’s largest school is concluding its planning process with its clinical and hospital

partners who together comprise Stanford Medicine. As the process unfolds there will be an increased

focus on the value equation of enhancing quality while driving down cost. In addition, Stanford Medicine

will continue to partner with other areas of the university.

ixEXECUTIVE SUMMARY

GENERAL FUNDS BUDGETA key element of the annual budget process is the development of the general funds portion of the

Consolidated Budget. The $1.15 billion in general funds in the non-formula units can be used for any

university purpose. General funds play a critical role as they help to maintain many of the core academic

and support functions of the university. As noted earlier, we budgeted a $15 million surplus.

As shown in the chart above, base general funds additions will total $66.9 million in 2018/19. About

52% will cover increases in continuing costs for salaries, benefits, non-salary costs, and the operating

costs of facilities. The remaining $31.6 million in incremental base funding will be split among LRP

initiatives, academic and faculty support, and administration and facilities costs. These purposes are

further delineated below.

Long Range Planning Initiatives ($12.4 million)—Addressing issues of affordability, diversity, and access

will be paramount as Stanford shapes its future. In that context we have included funding for an enhanced

salary program, support for the community centers and other student-focused diversity programs, added

financial aid for a growing number of first generation college-attending students, and increased core

operations funding for the Stanford Research Computing Center. In 2017/18 we reserved $20 million in

anticipation of LRP initiatives. We used $5 million toward the initiatives described here, retaining $15

million for future LRP needs.

New Facilities Debt and Operations ($7.0 million)—As new buildings come on line their operating costs

are typically funded with general funds. We are budgeting for a full year of operation of the Bass Biology

Building and a partial year of operation for the Neuro/ChEM-H Research Complex, which will open later

in the 2018/19 fiscal year.

Administration ($7.8 million)—Administrative costs are almost entirely funded with general funds,

whereas academic and program costs often have some portion of support coming from restricted funds.

In next year’s budget we are expanding our investment in cloud computing, enhancing staffing in the

Development Office, and strengthening our lab safety program.

Academic and Faculty Support ($4.4 million)—The bulk of funding for academic initiatives typically

comes from restricted funds. However, general funds also play a critical role in supporting academic

programs. For 2018/19 we are providing core personnel and program support to the Neurosciences

Institute and enhanced funding for master’s students in the Graduate School of Education.

Academic/Faculty Support

4.4

New Facilities7.0

MARKET-BASED ADJUSTMENTS

35.3

2018/19 BASE GENERAL FUNDS ADDITIONS: $66.9 MILLION [IN MILLIONS OF DOLLARS]

INCREMENTALALLOCATIONS

31.6

Administrative Support

7.8

Non-Salary & Existing Facilities

18.9

Base Conversion

7.1

Program Enhancement

14.5

New Programs

10.0

Salaries & Benefits

16.4

Long-Range Planning Initiatives

12.4

x EXECUTIVE SUMMARY

CAPITAL BUDGET AND THREE-YEAR CAPITAL PLAN The Capital Budget and three-year Capital Plan are based on a projection of the major capital projects that

the university intends to pursue to further its academic mission. The Capital Budget, estimated at $1.2

billion, represents anticipated capital expenditures in 2018/19, notably for the Escondido Village Graduate

Residences, Stanford Redwood City, and the Neuro/ChEM-H Research Complex. The three-year Capital

Plan spans 2018/19 through 2020/21, with total project costs of $4.1 billion. The three-year plan includes

projects that were initiated prior to 2018/19, as well as the full cost of projects starting within the rolling

three-year period through 2020/21. The Capital Budget and Capital Plan are subject to change based on

funding availability, budget affordability, and evolving university priorities.

ACKNOWLEDGMENTSThe Budget process this year was unusually challenging, with requests that exceeded our available funding

by a factor of three. The decision to have a strong salary program further limited discretionary allocations.

The priorities emerging from the LRP were extremely helpful in guiding the difficult decision-making

process that we went through.

The Budget Plan is the product of a great deal of work on the part of managers and budget officers at

every level of the university. I thank the budget officers and leadership in the schools and administrative

units for their efforts in support of the budget process.

There are two hardworking advisory groups that assist me in formulating the general funds budget

and capital plan. The University Budget Group consists of Margaret Brandeau, Sarah Church, Andrea

Goldsmith, Judy Goldstein, Patti Gumport, Rosemary Knight, Randy Livingston, Steve Olson, Serena Rao,

Steve Sano, Dana Shelley, George Triantis, and Tim Warner. This group met from late September through

March, often twice a week, to review submissions and requests from the various budget units and to

advise me on the final allocations of general funds. Support for the Budget Group, and for the creation of

this document, is provided by the University Budget Office staff, consisting of Kayte Bishop, Jacy Crapps,

Neil Hamilton, Kulneet Homidi, Dana O’Neill, Mike Ling, Serena Rao, Davis Reek, Mark Rickey, and Dana

Shelley, under the able leadership of Tim Warner.

I would like to acknowledge the help and support of Serena Rao who will be moving to another role at

Stanford. She has been a wonderful participant in the University Budget Group over the years. We wish

her well in her new position.

The Capital Planning Group consists of Jack Cleary, Lou Durlofsky, Megan Davis, Stephanie Kalfayan,

David Lenox, Bob Reidy, Craig Tanaka, Bob Tatum and Tim Warner. Craig guides the capital planning

process with remarkable efficiency, with excellent support from Howard Leung.

xiEXECUTIVE SUMMARY

REQUESTED APPROVAL AND ORGANIZATION OF THIS DOCUMENTThe Budget Plan provides a university-level perspective on Stanford’s programmatic and financial plans

for 2018/19. We seek approval of the planning directions, the principal assumptions, and the high-level

supporting budgets contained herein. As the year unfolds, we will provide periodic variance reports on

the progress of actual expenses against the budget. We will also report on any budgetary implications

of initiatives emerging from the LRP process. Finally, we will bring forward individual capital projects for

approval under normal Board of Trustees guidelines.

This document begins with an overview of budgeting at Stanford, followed by four chapters and two

appendices. Chapter 1 describes the financial elements of the plan, including details of the Consolidated

Budget for Operations and the projected Statement of Activities for 2018/19. Chapter 2 addresses

programmatic directions in the academic areas of the university. Chapter 3 provides a similar view of the

administrative and auxiliary units. Chapter 4 contains details on the Capital Budget for 2018/19 and the

Capital Plan for 2018/19–2020/21. The appendices include budgets for the major academic units and

supplementary financial information.

Persis S. Drell

Provost

June 2018

xii EXECUTIVE SUMMARY

xiiiTABLE OF CONTENTS

TABLE OF CONTENTS

EXECUTIVE SUMMARY .................................................................................................................................................................... iii

INTRODUCTION: BUDGETING AT STANFORD.........................................................................................................................1

CHAPTER 1: CONSOLIDATED BUDGET FOR OPERATIONS ...................................................................................................3 Consolidated Budget for Operations.......................................................................................................................................3

The Expendable Funds Pool and the Buffers ....................................................................................................................9 Stanford Redwood City .................................................................................................................................................... 14General Funds ............................................................................................................................................................................ 18

Projected Statement of Activities ......................................................................................................................................... 20

CHAPTER 2: ACADEMIC UNITS ................................................................................................................................................. 23 Overview of Academic Units ................................................................................................................................................. 23

Graduate School of Business ......................................................................................................................................... 24 School of Earth, Energy & Environmental Sciences ................................................................................................. 26 Graduate School of Education ...................................................................................................................................... 28 School of Engineering ..................................................................................................................................................... 30 School of Humanities and Sciences ............................................................................................................................ 32 School of Law .................................................................................................................................................................... 34 School of Medicine ........................................................................................................................................................... 36 Vice Provost and Dean of Research ............................................................................................................................. 38 Vice Provost for Undergraduate Education ................................................................................................................ 40 Vice Provost for Graduate Education ........................................................................................................................... 42 Vice Provost for Teaching and Learning ...................................................................................................................... 44 Vice President for the Arts .............................................................................................................................................46 Hoover Institution ............................................................................................................................................................. 48 Stanford University Libraries ......................................................................................................................................... 50 SLAC National Accelerator Laboratory ...................................................................................................................... 52

CHAPTER 3: ADMINISTRATIVE & AUXILIARY UNITS ......................................................................................................... 55 Administrative Units ................................................................................................................................................................ 56 Major Auxiliary Units ............................................................................................................................................................... 65

CHAPTER 4: CAPITAL PLAN AND CAPITAL BUDGET ......................................................................................................... 67Capital Planning Overview ...................................................................................................................................................... 68The Capital Plan, 2018/19–2020/21 .................................................................................................................................... 70The Capital Budget, 2018/19 ................................................................................................................................................ 76Capital Budget Impact on 2018/19 Operations ................................................................................................................ 78Capital Plan Project Detail ...................................................................................................................................................... 78

APPENDIX A: CONSOLIDATED BUDGETS FOR SELECTED UNITS ................................................................................... 83

APPENDIX B: SUPPLEMENTARY INFORMATION ................................................................................................................103

xiv TABLE OF CONTENTS

1INTRODUCTION: BUDGETING AT STANFORD

INTRODUCTION: BUDGETING AT STANFORD

Budgeting at Stanford is a continuous process that takes place throughout the year and occurs at nearly

every level within the university. The cycle starts with planning that considers programmatic needs and

initiatives, continues with the establishment of cost drivers such as the approved salary program and

fringe benefits rates, and is tempered by available funding sources. Stanford’s “budget” is an amalgamation of

thousands of smaller budgets, including everything from an individual faculty member’s budget for a sponsored

grant from the National Institutes of Health, to the budget for the Department of Psychology, to the budget for

the School of Engineering, to the total of the Consolidated Budget for Operations. These budgets are created and

managed by the areas that are governed by them, with oversight by the provost, the chief budget officer of the

university. There are general principles and guidelines to which the budgets must adhere, but schools and other

units are allowed tremendous freedom in the development and execution of their budgets.

FUND ACCOUNTINGStanford’s budgets are developed and managed according

to the principles of fund accounting. Revenues are segre-

gated into a variety of fund types, and the use of revenues

governed by the restrictions of the fund. For example, each

expendable gift is put into an individual fund, and the recipi-

ent must use the funds in accordance with the wishes of the

donor. Gifts of endowment are also put into separate funds,

but the corpus itself is not usually spent. An annual payout

on the endowment fund is spent, as with gift funds, only in

accordance with the restrictions imposed by the donor. The

segregation of each gift allows the university to ensure that

the funds are spent appropriately and to report to donors on

the activities that their funds support. Monies received from

government agencies, foundations, or other outside sponsors

are also deposited in separate, individual funds to ensure

strict adherence to the terms of the grants and/or contracts

that govern the use of the funds. Non-gift and non-sponsored

research revenue also reside in funds, but this type of revenue

may be commingled into a single fund. Departments may

choose to combine unrestricted monies into separate funds

for a particular program, for a capital project, or to create a

reserve. Stanford’s consolidated revenues by fund type are

shown at the right.

BUDGET MANAGEMENTAt the end of fiscal year 2016/17, Stanford had roughly

23,500 active expendable funds and more than 8,000 en-

dowment funds. So how does Stanford budget and manage

all these funds? It goes without saying that the university

uses a sophisticated financial accounting system to set up

the individual funds, to record each financial transaction, and

to track fund balances. But nearly all of the decision-making

for the use of Stanford’s funds is made at the local level,

General Funds23%

Designated27%

Restricted23%

Grants &Contracts

21%

Auxiliaries & Service Centers 6%

2018/19 CONSOLIDATED REVENUES BY FUND TYPE

2 INTRODUCTION: BUDGETING AT STANFORD

consistent with the decentralized and entrepreneurial spirit

of the university. Unlike a corporation, Stanford is closer to a

collection of disparate, autonomous businesses with widely

varying cost structures and resources. As such, each princi-

pal investigator is accountable for the responsible use of his/

her grant funding, each gift recipient must ensure that the

gift funds are used in accordance with the donor’s wishes,

and each school must fulfill the expectations for teaching

and scholarship within its available resources. Schedule 21

in Appendix B shows expendable fund balances by academic

unit and by level of control.

BUDGET CONTROLThe primary control on local unit budgets at Stanford is

available funding. Except for general oversight and policies

governing the appropriate and prudent use of university

funds, the central administration does not place additional

limits on spending. For example, if a faculty member needs

to hire a postdoctoral fellow to help carry out a particular

research project, and if grant funding is secured to cover this

expense, the university does not second-guess this decision.

Conversely, two important budget matters are controlled

centrally: faculty billets and space.

Because the majority of Stanford’s funding is under the direct

control of a faculty member, a department, or a school, these

entities are able to support programs as long as they maintain

a positive fund balance. This, however, does not mean that

the programs must operate with a surplus during any par-

ticular fiscal year. In fact, a “deficit” is usually reflective of a

planned use of prior year fund balances. A simple example of

this is when a department receives a gift of $5.0 million to be

spent over five years. If the funds are spent evenly over the

time period, the program will show a surplus of $4.0 million

in the first year and will generate an ending fund balance of

$4.0 million. In each of the next four years, this program will

receive no revenue, will expend $1.0 million dollars, and will

thus generate an annual deficit of $1.0 million while drawing

down the fund balance of the gift.

The Consolidated Budget for Operations, the aggregate of

all of Stanford’s smaller budgets, is therefore not centrally

managed in the corporate sense. Nonetheless, a great deal

of planning goes into the development of the individual unit

budgets that aggregate into the Consolidated Budget of the

university.

DEVELOPMENT OF THE CONSOLIDATED BUDGET AND THE ROLE OF GENERAL FUNDSAnother key element in the development of the units’ budgets

and the Consolidated Budget are university general funds,

which are funds that can be used for any university purpose.

General funds play a particularly important role in the overall

budget, because they cover many expenses for which it is

difficult to raise restricted funds, such as administration and

campus maintenance. The main sources of general funds are

tuition income, indirect cost recovery, unrestricted endow-

ment income, and income from the expendable funds pool.

Each school and administrative unit receives general funds

in support of both academic and administrative functions.

The process for allocating general funds is controlled by the

provost and aided by the Budget Group, which includes rep-

resentation from both faculty and administration.

The critical elements of the process are a forecast of available

general funds, a thorough review of each unit’s programmatic

plans and available local funding, and an assessment of cen-

tral university obligations such as building maintenance and

debt service. Balancing the needs and the resources is the

ultimate goal of the Budget Group. The general funds alloca-

tion process is described in more depth in Chapter 1.

3CONSOLIDATED BUDGET FOR OPERATIONS

CHAPTER 1

CONSOLIDATED BUDGET FOR OPERATIONS

In this chapter we review the details of the 2018/19 Consolidated Budget for Operations, describe the general

funds allocation process and results, and present a forecasted Statement of Activities.

CONSOLIDATED BUDGET FOR OPERATIONSThe Consolidated Budget for Operations provides a man-

agement-oriented overview of all non-capital revenues and

expenditures for Stanford University in the fiscal year. It is

based on the budget plans developed by the schools and ad-

ministrative areas with adjustments made by the University

Budget Office for consistency with total activity levels not yet

associated with a particular budget unit. The Consolidated

Budget includes only those revenues and expenses avail-

able for current operations. It does not include plant funds,

student loan funds, or endowment principal funds, although

it does reflect endowment payout. It also does not include

the budgets of Stanford Health Care or Stanford Children’s

Health.

The 2018/19 Consolidated Budget for Operations shows

total revenue of $6,524.7 million and expenses of $6,213.3

million, resulting in a net operating surplus of $311.4 million.

After projected transfers of $140.7 million, predominately

to plant funds, the Consolidated Budget shows a surplus of

$170.7 million.

Total revenues in 2018/19 are projected to increase $205.8

million or 3.3% over revenues expected in 2017/18. As has

been the case for several years, the total growth belies the

1 Net Revenues after Transfers: $6,384.0 Million

UniversitySponsored Research

17%

Gifts & Net Assets Released from

Restrictions7%

EndowmentIncome

20%

Other Investment Income

4%

Other Income9% Student Income

15%

Health Care Services20%

SLAC 8%

Other Operating Expenses

29%

Compensation62%

Debt Service4%

Financial Aid5%

2018/19 CONSOLIDATED REVENUES: $6,524.7M 1 2018/19 CONSOLIDATED EXPENSES: $6,213.3M

4 CONSOLIDATED BUDGET FOR OPERATIONS

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4


variability among the component revenue sources. Health

care services revenue, which is expected to see slower growth

than the past several years, is budgeted to increase by 7.5%.

Total investment income is expected to increase by 6.5% in

2018/19, driven by improving investment returns and strong

additions to endowment principal. In contrast, sponsored

research support is projected to decline by 2.2%, with SLAC

totals decreasing 10.9% due to a $114.8 million, or 45%, de-

cline in construction activity. University sponsored research,

exclusive of SLAC, is budgeted to increase by 2.4%. Student

income is projected to grow slightly faster than the approved

tuition rate increase, due to modest enrollment growth.

Excluding SLAC, total revenues in 2018/19 are projected to

grow by 4.7%.

Total expenses in 2018/19 are forecast to grow by 4.9% over

the projected year-end results for 2017/18, and by 6.6% ex-

cluding SLAC. A very competitive salary program and contin-

ued headcount growth combine to push total compensation

expenses up by 7.2%. Growth in general operating expenses

is expected to be comparable to that seen in past years.

The table on the facing page shows the projected consoli-

dated revenues and expenses for 2018/19. For comparison

purposes, it also shows the actual revenues and expenses for

2016/17 and both the budget plan and the year-end projec-

tion for the current fiscal year, 2017/18. Definitions of key

terms are provided below.

THE CONSOLIDATED BUDGET BY PRINCIPAL REVENUE AND EXPENSE CATEGORIES

Revenues

Student IncomeStudent income is expected to increase by 4.0% in 2018/19

to $982.1 million. Increases in student charges are approved

by the Board of Trustees and are guided by a number of con-

siderations: programmatic needs, the effectiveness of the

financial aid program, and Stanford’s pricing position relative

to peers.

Tuition and Fees—Stanford expects to generate $777.4 mil-

lion in tuition and fee revenue in 2018/19, a 3.8% increase

over 2017/18. Undergraduate and graduate student tuition

revenue each will increase by 3.8%, a slightly higher pace

than the approved rate increase, due to modest growth in

KEY TERMS

General Funds: Unrestricted funds that can be used for any university

purpose. The largest sources are tuition, unrestricted endowment

income, and indirect cost recovery.

Designated Funds: Funds that come to the university as unrestricted but

are directed to particular schools and departments, or for specific

purposes by management agreement.

Restricted Funds: Include expendable and endowment income funds

that can only be spent in accordance with donor restrictions.

Grants and Contracts: The direct component of sponsored research,

both federal and non-federal. Individual principal investigators

control these funds.

Auxiliaries: Self-contained entities such as Residential & Dining

Enterprises and Athletics that generate income and charge

directly for their services. These entities usually pay the university

for central services provided.

Service Centers: Entities that provide services primarily for internal

clients for which they charge rates to recover expenses.

Net Assets Released from Restrictions: Under U. S. GAAP, gifts and

pledges that contain specific donor restrictions preventing their

spending in the current fiscal year are classified as “temporarily

restricted,” and are not included in the Consolidated Budget for

Operations. When the restrictions are released, these funds become

available for use and are included as part of the Consolidated Budget

on the line Net Assets Released from Restrictions. These funds

include cash payments on prior year pledges and funds transferred

from pending funds to gift funds.

Financial Aid: Includes expenses for undergraduate and graduate

student aid. Student salaries, stipends, and tuition allowances are

not considered to be financial aid and are included in other lines in

the Consolidated Budget.

Formula Areas: Budget units whose allocations of general funds are

predetermined by a formula agreed to by the provost and the unit.

Principal formula units include the Graduate School of Business,

the School of Medicine, and Continuing Studies/Summer Session.


both undergraduate and graduate student enrollment. While

tuition and fees will contribute only 11.9% of Stanford’s total

revenue in 2018/19, it will comprise 51.0% of general funds.

As such, it is a vital source of unrestricted revenue. In addi-

tion to supporting faculty and staff salaries, student services,

financial aid, and other direct academic program needs, tu-

ition plays a crucial role in funding infrastructure, support

services, and other operational activities.

The general tuition rate increase for 2018/19, approved by the

Board of Trustees in February, is 3.5%, which results in a rate

of $50,703 for undergraduates and non-professional graduate

students. The rate increase was set after careful consider-

ation of the current economic circumstances weighed against

budgetary needs. Stanford continues to be, along with its

peers MIT, Harvard, Yale, and Princeton, one of the lowest

priced universities among the highly selective private uni-

versities that comprise the Consortium on Financing Higher

Education (COFHE). The median tuition of the COFHE uni-

versity cohort increased 3.9% for 2017/18, leaving Stanford’s

tuition rank unchanged at 15th out of 17.

The approved 3.5% tuition increase applies to the under-

graduate tuition rate, the general graduate tuition rate, and

the graduate tuition rates for the School of Engineering, the

School of Law, and the School of Medicine.

Room and Board—Total room and board income is projected

to be $204.7 million in 2018/19, increasing by 4.6% over

2017/18.

In February, the Trustees approved a combined undergradu-

ate room and board rate increase of 4.3% for 2018/19, bring-

ing the undergraduate rate to $15,763. This increase is the

highest in more than ten years. The undergraduate room

rate will increase by 5.5%, and the 19-meal board plan will

increase by 2.5%. The graduate housing room rate will in-

crease by 4.75%.

The undergraduate room increase is one percentage point

higher than the recent increases of 4.5%. The additional

funding will allow Residential and Dining Enterprises (R&DE)

to expand its asset renewal program and address aging utility

infrastructure; to expand the existing preventive maintenance

program; and to fund apprentice positions in the maintenance

trades providing talent development and career opportunities

from within. It is anticipated that a 5.5% increase in the room

rate will be needed for an additional two years to fully fund

these initiatives.

Sponsored Research and Indirect Cost Recovery

UniversityUniversity sponsored research revenue, excluding SLAC, is

forecast at $1,124.6 million in 2018/19, a 2.4% increase from

the projected level in 2017/18. The amount includes direct

research revenue from external grants and contracts ($844.7

million) as well as reimbursement for indirect costs incurred

by the university in support of sponsored activities ($279.9

million).

SPONSORED RESEARCH REVENUE (Excluding SLAC) [IN MILLIONS OF DOLLARS] PERCENT

2017/18 2018/19 CHANGE

Federal Directs 543.7 547.1 0.6%

School of Medicine 328.1 337.6 2.9%

Other Schools 215.6 209.5 -2.8%

Non-Federal Directs 281.6 297.7 5.7%

School of Medicine 170.9 177.4 3.8%

Other Schools 110.7 120.3 8.6%

Total Directs 825.3 844.7 2.3%

Total Indirects 272.7 279.9 2.6%

Total Research 1,098.0 1,124.6 2.4%

Federal and non-federal sponsored activities have shown

contrasting growth trajectories for several years, and the

trend is expected to continue in 2018/19. Federal direct re-

search revenue is expected to have a small increase of 0.6%

to $547.1 million, whereas non-federal direct research revenue

is forecast to rise 5.7% to $297.7 million. Due to the divergent

growth, the fraction funded by the federal government has

declined from 74% five years ago to approximately 68% in

2018/19.

A further look into the 0.6% increase in federal direct

research reveals different trends between the School of

Medicine (SoM) and other academic units. The SoM bud-

geted a 2.9% increase, mainly driven by new research gener-

ated by incremental faculty. While support from the National

Institutes of Health (NIH) continues to represent over 80% of

the school’s sponsored research volume, expenditure levels

for NIH-funded research are expected to be flat for existing

faculty. In 2017/18, the non-formula schools have experienced

reduced funding support from all main federal sponsors

including NIH. In keeping with this trend, the non-formula


schools, in aggregate, project a 2.8% decline in federal direct

research. Overall, academic units remain alert to the volatility

of federal research and do not foresee funding levels rebound-

ing in 2018/19.

Consistent growth of non-federal research grants and con-

tracts has compensated for the lackluster performance of

federal research. On average, direct non-federal research

volume has grown 10% annually over the past five years,

stimulated largely by support from domestic foundations and

corporations. The upward trend is forecast to slow down to

5.7% in 2018/19 mainly for two reasons. First, SoM assessed

that the funding from the California Institute for Regenerative

Medicine (CIRM) would have a 25% reduction in 2018/19

in anticipation of the expiration of the program in 2020/21.

Second, the Dean of Research signaled that the funding for

the Global Climate and Energy Project (GCEP) would con-

clude in 2018/19, after several years of steady declines. On

the positive side, the Project Baseline study funded by Google

X in SoM and artificial intelligence research sponsored by

Toyota Research Institute in the School of Engineering will

contribute to the growth in the non-federal research arena.

Indirect cost recovery will reach almost $280 million in

2018/19, an increase of 2.6%. The on-campus organized re-

search rate (or facilities and administration rate) is budgeted

at 56%, one percentage point lower than the rate in the prior

two years. The growth in indirect cost recovery will slightly

outperform direct research, primarily due to more recoverable

indirect costs from the animal care facility in the SoM.

SLACStanford operates SLAC National Accelerator Laboratory

(SLAC), a federally funded research and development center,

for the Department of Energy (DOE). DOE owns SLAC’s facili-

ties and capital equipment, so DOE-funded capital expendi-

tures, which vary significantly from year-to-year, are treated

as operating revenue and expense. SLAC’s overall budget

in 2018/19 totals $510.0 million, 93% of which is funded by

DOE. It represents an almost 11% decline from the projected

level in 2017/18. In 2018/19, the construction component of

SLAC’s budget will scale down to $142.7 million from a high of

$257.5 million in 2017/18. This reduction was anticipated as

the construction activity of a DOE-funded $1 billion upgrade

of the Linac Coherent Light Source (LCLS-II) concludes. As

LCLS-II and the Large Synoptic Survey Telescope (LSST)

projects move into operation, the facility operation compo-

nent of SLAC’s budget will expand in 2018/19. In addition,

SLAC’s recent strategic move to diversify its sponsor base has

borne fruit. The research and operation component of SLAC’s

budget will grow to $367.3 million, close to a 17% increase

from the level In 2017/18. SLAC research and construction

programs are discussed in more detail in Chapter 2.

Health Care ServicesHealth care services revenue is projected to increase 7.5%

to $1,311.0 million in 2018/19, showing continued strong, al-

beit slightly slower, growth than in recent years. Health care

services revenue is expected to continue to grow over the

next few years, as the School of Medicine recruits clinically

active faculty and clinician educators in conjunction with the

expansion of Stanford Health Care and Stanford Children’s

Health. The School of Medicine and the hospitals have an in-

tegrated clinical strategy that includes the growth essential to

maintaining preeminence in a highly competitive health care

market and to providing the highly specialized care required

for training purposes by a leading academic medical center.

The School of Medicine generates more than 90% of the

university’s total health care services revenue, the majority of

which is paid by Stanford Health Care and Stanford Children’s

Health through the professional services and funds flow

agreements. These agreements pass a portion of the hospi-

tals’ clinical service revenues to the academic departments

based on clinician productivity, with additional payments

made for department overhead costs, medical direction

leadership, programmatic development, and for measures of

quality, safety, and value. Hospital payments cover compen-

sation expenses for faculty, clinician educators, and staff who

are directly involved in the clinical mission. In addition, the

funds flow agreements cover non-compensation expenses of

the clinical mission and provide support for the academic and

research mission. Clinical revenues in 2018/19 are projected

to increase 10.0% to $1,050.9 million. An additional $149.2

million of hospital payments to the School of Medicine cover

the university’s formula assessment on the school’s clinical

revenue, rent, use of the library, 3-D imaging, and other non-

clinical programs and services.

The remaining $110.9 million in health care services revenue

represents payments from the hospitals to other parts of the

university: $30.2 million to Land, Buildings and Real Estate

for operations and maintenance and utilities, the Marguerite

shuttle service, and parking permits; $29.4 million to Business

Affairs, primarily for communications services; $12.2 million

to the Office of Development for hospital fundraising sup-


port; $14.4 million to the Office of the General Counsel for

legal services; and $21.5 million to the central administration

for parking structure debt service, Stanford Infrastructure

Program fees, and general overhead. This also includes the

hospital’s $10.0 million contribution to support Stanford

Redwood City, which allows the hospitals to retain and ex-

pand facilities on the main campus.

Gifts and Net Assets Released from RestrictionsRevenue from expendable gifts and net assets released from

restrictions is budgeted to be $424.9 million in 2018/19,

comparable to the amount expected in 2017/18. Because

there is substantial volatility in the timing of gifts, in particular

the designation of pending gifts, a zero-growth assumption is

prudent for planning purposes.

Expendable gifts are those immediately available for purposes

specified by the donor and do not include gifts to endowment

principal, gifts for capital projects, gifts pending designation,

or non-government grants. Net assets released from restric-

tions include cash payments on gift pledges made in prior

years, as well as pending gifts whose designation has been

determined.

Investment IncomeIn 2018/19, investment income is projected to increase 6.5%

to $1,612.4 million. This total includes endowment payout

to operations as well as other investment income described

below.

Endowment Income—Endowment payout to operations in

2018/19 is budgeted to be $1,319.9 million, an increase of

6.7% over 2017/18. Endowment income includes payout

from individual funds invested in the merged pool (MP), as

well as specifically invested endowments (e.g., oil and mineral

rights), and net rental income from the Stanford Research

Park and other endowed lands.

The payout to an individual endowment fund invested in the

merged pool in 2018/19 will increase by 3.1%, following two

years of little or no growth, as strong investment returns in

2016/17 are reflected in the smoothing rule described below.

Total merged pool payout is expected to increase by 6.7%

due to new gifts to endowment principal during the remain-

der of the current year and throughout 2018/19, as well as

transfers by schools and departments of $77.0 million from

expendable balances to endowments at the end of the current

fiscal year. We are also expecting to reinvest $34.8 million

to the Tier I Buffer and $154.9 million to the Tier II Buffer

at the end of the current fiscal year, resulting from expend-

able funds pool returns in excess of the 2017/18 expendable

funds pool payout (see “The Expendable Funds Pool and The

Buffers” on the facing page for more information). Together

these additions contribute roughly $27 million to endowment

payout in 2018/19.

The 2018/19 proposed spending rate (payout per share) for

the MP is derived from the application of the university’s

smoothing rule. The smoothing rule is used to dampen the

impact on the budget of annual fluctuations in the market

value of the endowment, thereby providing stability to budget

planning. Stanford’s smoothing rule uses the approved target

payout rate of 5.5% to calculate a target payout per share in

the current year, 2017/18. Taking a weighted average of the

target payout per share and the current year’s actual payout

per share results in a smoothed payout per share. The payout

per share for 2018/19 is derived by increasing the smoothed

payout per share by the long-term growth factor of 3.5%.

Finally, the 2018/19 proposed payout per share is expected to

provide an overall endowment payout rate that is within the

range of 4.0% to 6.0%. The spending rate was approved by

the Trustees at the February 2018 meeting.

Of the total endowment income, $284.2 million or 21% is

unrestricted and a source of general funds. The unrestricted

endowment income includes payout from unrestricted MP

funds, income generated from Stanford endowed lands, and

a small amount of other specifically invested endowment

income. The unrestricted portion of endowment income is

expected to increase by 5.6% in 2018/19, whereas the re-

stricted portion is budgeted to increase by 7.0%. Other than

the addition to the Tier I and Tier II Buffer, the lion’s share of

the additions to endowment principal will result in increases

in restricted payout. Unrestricted income from Stanford lands

is projected to be $109.0 million in 2018/19, providing nearly

40% of unrestricted endowment income.

Other Investment Income—Other investment income is

expected to increase 5.8%, from $276.6 million in 2017/18

to $292.5 million in 2018/19. Other investment income

comprises two categories of revenue: $191.7 million in pay-

out to operations from the expendable funds pool (EFP) and

earnings from the endowment income funds pool (EIFP), and

$100.8 million of investment income from several smaller

sources as described below.


Investment returns on the EFP in 2017/18 are projected to be

close to nine percent, resulting in the maximum 5.5% payout

allowed by policy to the zero-return portion of the EFP in

2018/19. The money-market rate is projected to be 1.25% in

2018/19, yielding a total of $7.8 million for those funds in the

EFP that receive a direct payout. The EIFP is expected to earn

$4.5 million and to have a fund balance of $356.0 million at

the end of 2018/19.

The $3.7 billion of ending fund balances in the Consolidated

Budget for Operations shown on page 4 includes all of the

EIFP but only $3.4 billion of the total $4.3 billion projected

total EFP. Plant and debt pool fund balances, as well as stu-

dent loan, pending, and agency funds, are part of the EFP, but

these fund balances are not represented in the Consolidated

Budget.

The non-EFP portion of other investment income comprises

$47.8 million in investment income distributed to support

the operations of the Stanford Management Company and

the real estate division of Land, Buildings and Real Estate;

$24.1 million in interest income on the Stanford Housing

Assistance Center (SHAC) portfolio; and $28.9 million mis-

cellaneous other investment income including rents from the

Sand Hill Offices, security lending, and other interest income.

Special Program Fees and Other IncomeRevenue from special program fees and other income is bud-

geted at $559.8 million in 2018/19, an increase of 2.6% over

the expected level in 2017/18. This category is a collection

of revenue streams that includes executive education, pre-

collegiate, and professional certificate fees; technology licens-

ing and patent income; academic corporate affiliates income;

ticket, admission, and broadcast fees for athletic and other

events; conference and symposium revenues; rental income

from Stanford West, Colonnade, and Welch Road apartments;

and participation fees collected by the travel/study programs.

Overall, the 2.6% growth from 2017/18 is in line with the

compound annual growth rate of the past four years as new

or growing revenue streams offset those that end or decline.

For example, two professional certificate programs within

the Stanford Center for Professional Development were dis-

continued during 2017/18, which moderates income growth

in 2018/19. However, the Graduate School of Business plans

to launch a new online LEAD certificate program as well as a

third cohort of the Stanford Executive Program (SEP), which

will increase income growth. Likewise, new rental income

THE EXPENDABLE FUNDS POOL AND THE BUFFERS

Most of Stanford’s non-endowed funds are collectively known as the expendable funds pool (EFP). Unspent tu-ition dollars, unit budget savings, clinical revenues received by the School of Medicine, faculty discretionary accounts, and auxiliary reserves are examples of expendable funds in the EFP, the total of which is projected to be $4.3 billion at the end of 2018/19. Between $50 and $250 million of the EFP is invested in cash vehicles for short-term needs. The remainder is invested in the merged pool (MP). As a result, the returns on the EFP follow closely the returns on the MP.

Ninety-eight percent of the 23,000 funds in the EFP, equaling 85% of the total balance, receive no payout or investment return. Rather, a variable payout of 0% to 5.5% on the balances of these so-called zero-return ac-counts, based on the actual EFP investment returns during the prior fiscal year, is paid to general funds, both centrally and to the School of Medicine and the Graduate School of Business. The remaining funds, including the debt recy-cling pool, insurance and benefits reserves, student loan funds, certain plant funds, agency funds, gifts pending designation, and some restricted funds, receive a payout equal to a money-market return. It is important to note that the balances of all of the expendable funds invested in the EFP are guaranteed by the university, regardless of financial market conditions.

How does the university provide this guarantee? In years when the investments of the EFP generate, say, an 8% return, the payout obligation to the money-market return funds, general funds, the School of Medicine, and the GSB is roughly sixty percent of the total return. The remainder, so-called excess EFP return, is directed to the Tier I Buffer, until it reaches a balance equal to 35% of the total EFP value, and then to the Tier II Buffer. In the event that EFP returns are insufficient to cover the stipulated allocations to operations, the shortfall is withdrawn first from the Tier I Buffer, up to 20% of the Tier I balance, and then from the Tier II Buffer. Additionally, if investment returns are nega-tive, causing the balance of individual funds to decline, the buffers are used to restore individual fund balances.

The buffers are funds functioning as endowment, and as such generate an annual payout. The Tier I Buffer is unre-stricted, and the payout is a source of base general funds. The Tier II Buffer is restricted for use by the president for strategic initiatives. Furthermore, the buffers serve as a financial reserve in the event of an earthquake or other disaster. At the end of 2018/19 the Tier I and Tier II Buffers are projected to reach $1.5 billion and $1.3 billion, respectively.


from the recently purchased Colonnade apartment complex

will replace diminished rental income from the MidPoint

Technology Park due to the construction of Stanford Redwood

City. New patent income also offsets declines from recently

expired patents. In spite of the volatility seen in these areas,

other revenue streams maintain consistent growth year over

year, from retail revenues in Residential & Dining Enterprises

to fees for the use of various athletic facilities such as the golf

driving range and summer sports camps.

Expenses

Total CompensationTotal Compensation in the Consolidated Budget for

Operations includes faculty, staff, bargaining unit, and student

assistantship salaries; fringe benefits; tuition benefits for

research and teaching assistants; and other non-salary com-

pensation such as bonuses and incentive pay. Total compen-

sation in 2018/19 is budgeted to be $3,853.6 million, a 7.2%

increase over the 2017/18 year-end projection of $3,593.8

million. The approved merit programs for faculty and staff,

authorization of a strong market/equity/retention program,

and anticipated headcount growth drive this increase.

Salaries—Total salary expense for faculty and staff, including

SLAC, is expected to grow by 7.2% in 2018/19 to $2,664.7

million. Overall, projected salary expense in 2018/19 is the

result of the university-wide salary program and assumed

headcount growth for both faculty and staff. The salary

program includes a merit-based component designed to rec-

ognize individual performance as well as incremental funding

to address market, equity, or retention (M/E/R) issues. This

year, in light of the cost of living and affordability issues in the

Bay Area, the M/E/R amount is greater than in prior years,

with the expectation that this budget will be used primarily

to deliver larger increases to high-value employees who will

most benefit from an additional base pay adjustment. The

M/E/R budget may also be used to provide an adjustment to

improve competitiveness of individual pay, as well as to retain

key employees with unique and critical skills or experience.

Total combined headcount for faculty and staff is projected to

grow by 3.3%. This assumption is based on observations of

the 2017/18 actual headcount trend and analysis of historical

average growth. Within this aggregate, the university antici-

pates faculty growth to be 1.8% in 2018/19. In recent years,

the number of academic staff has grown significantly across

the university in support of expanding academic programs

in the schools and independent labs and growth in clinical

activities. The headcount for staff, including those support-

ing expanding academic programs and clinical activities, is

projected to rise 3.6%, consistent with recent years’ growth.

Similar to past years, the approved salary program takes

into consideration the financial condition of the university

as well as the status of the current labor market. The annual

salary program was guided by the university’s compensation

philosophy, which is to set faculty salaries at a level that will

maintain Stanford’s competitive position both nationally and

internationally for the very best faculty, and to set staff sala-

ries competitive within the local employment market in order

to attract and retain top talent. Analysis of department level

faculty salary data shows that Stanford continues to enjoy a

competitive faculty salary position in most areas. A review

of salary survey data in several local markets indicates that

staff salaries are in line with market median salaries as of

September 2017.

Each year a minimum salary is set for research and teaching

assistants, although departments and programs may choose

to pay more than the minimum. The goal is for graduate

students’ income to provide sufficient financial support to

meet the estimated non-tuition living expenses for a single

graduate student living in university housing. In 2018/19 the

minimum salary will be increased by 4.75%. The minimum

salary for postdoctoral fellows will also be increased to ad-

dress regional affordability.

Fringe Benefits—Fringe benefits expense is budgeted at

$763.4 million in 2018/19, increasing 6.4%, a slower rate of

growth than salary expense due to a slight drop in the primary

fringe benefits rate and a somewhat larger drop in the rate for

the tuition grant program (TGP), as described below.

The university tracks the benefits costs separately for four

distinct employee groups and charges a different rate for each

group based on the types of benefits that each is eligible to

receive. The federally negotiated rates are calculated as a

ratio of total benefits costs to total payroll for each group:

n Regular benefits-eligible employees

n Postdoctoral research affiliates

n Casual/temporary employees

n Graduate research and teaching assistants

In addition, the university applies a fifth rate to eligible sala-

ries to recover the costs of the tuition grant program, which

provides undergraduate college tuition benefits for the depen-


dents of eligible faculty and staff. The government does not

allow these charges, so the TGP rate is applied only to faculty

and staff salaries that are not charged to government spon-

sored projects or academic service centers. The TGP rate will

drop for a third year in a row from 1.60% to 1.25% in 2018/19.

This cost component comprises roughly $27.5 million of the

university’s total fringe benefits expense.

The fringe benefits for regular benefits-eligible employees

(RBE) comprise ninety-four percent of all fringe benefits

expense. The proposed rate for this group in 2018/19 is

expected to decrease 0.2 rate points over the negotiated

rate for 2017/18 to 29.7%. The fringe benefits rates for post-

doctoral research affiliates and for graduate research and

teaching assistants are projected to increase in 2018/19,

while the rate for casual/temporary employees is projected

to decrease slightly.

FRINGE BENEFITS RATES NEGOTIATED PROPOSED 2017/18 2018/19

Regular Benefits-Eligible Employees 29.9% 29.7%

Postdoctoral Research Affiliates 23.5% 25.4%

Casual/Temporary Employees 8.5% 8.4%

Graduate RAs and TAs 5.0% 5.1%

Average Blended Rate 27.7% 27.6%

The major cost components contributing to the RBE rate and

changes expected in 2018/19 are noted below:

n Insurance programs comprise just over 42% of the RBE

fringe benefits pool, eighty percent of which is for health

plans for active employees and five percent is for retiree

medical insurance. Other insurance benefits include, but

are not limited to, dental, group life, long-term disability,

and worker’s compensation. Employee health plans are

budgeted at $237.5 million in 2018/19, an increase of

12.8% over the budgeted health plan expense in 2017/18.

Continued headcount growth and health plan cost inflation

are the drivers of the increased expense and are expected

to push up the RBE rate by 0.5 rate points.

n Retirement programs contribute almost 50% to the overall

RBE fringe benefits expense and are projected to increase

by 7.9% to $347.2 million in 2018/19. More than half

of the retirement program expense is for the Stanford

Contributory Program, a program designed to help em-

ployees save for retirement through individual investment

combined with a generous matching contribution by

the university. The other significant retirement program

expense is, of course, payroll taxes, which includes social

security and Medicare. Overall, retirement program ex-

pense will grow commensurate with the salary and wage

base, resulting in no change to its share of the RBE rate.

n The over-recovery of fringe benefits costs in previous years

will reduce the RBE rate by 0.6 rate points in 2018/19.

The 2018/19 postdoctoral research affiliates fringe rate will

increase 1.9 rate points from the 2017/18 negotiated rate,

due to higher medical costs and an over-recovery adjustment

from the rate in past years.

The fringe benefits rate for casual/temporary employees

is projected to decrease by 0.1 rate point, while the rate for

graduate research and teaching assistants (RAs and TAs) is

expected to increase by 0.1 rate point.

Financial Aid Stanford expects to spend a total of $321.1 million on stu-

dent financial aid for undergraduate and graduate students

in 2018/19, a 5.1% increase over the 2017/18 projection of

$305.5 million. Endowment income ($216.5) provides two-

thirds of the funding for student financial aid, and general

funds ($46.5 million) supports almost 15%. Designated, gifts,

and grants and contracts will support the remainder.

Undergraduate Aid—In 2018/19 Stanford students will

receive $167.4 million in undergraduate need-based scholar-

ships, of which $161.5 million will be from Stanford resources.

In addition to Stanford resources, students will qualify for

$6.0 million in federal grants, mostly Pell and Supplemental

Educational Opportunity Grant (SEOG) grants, a slightly

higher amount than received in the past several years. Cal

Grants, which are not reflected in the Consolidated Budget

for Operations as they are awarded directly to the students,

will provide $2.4 million, continuing a downward trend due

to decreases in funding levels and fewer qualifying students

from California.

Undergraduate need-based financial aid expense in 2018/19

will increase 5.0% over the projection for 2017/18, a rate that

is one and a half points higher than the growth in students’

standard costs. While there are no new financial aid policies

for 2018/19, nearly fifty more students are expected to re-

ceive need-based scholarships due to an increase in financial

aid eligible applicants and a decrease in combined federal

and state support.


Stanford has long been committed to need-blind admissions

supported by a financial aid program that meets the demon-

strated financial need of all admitted undergraduate students.

Since 2008/09 one of the hallmarks of the need-based pro-

gram has been simple benchmarks that make it easy for pro-

spective students, particularly from low-income backgrounds,

to understand likely financial support from Stanford. These

benchmarks were updated for 2016/17 as follows:

n For families with total annual income below $65,000 (for-

merly $60,000) and typical assets for this income range,

Stanford will not expect a parent contribution toward

educational costs. Tuition, room and board, and other

expenses will be covered with scholarship or grant funds.

n For families with total annual income below $125,000

(formerly $100,000) and typical assets for this income

range, the expected parent contribution will be low enough

to ensure that all tuition charges will be covered with

scholarship or grant funds.

Stanford’s financial aid program continues to be one of the

most generous in the country, ensuring that a family’s eco-

nomic circumstances will not prevent admitted students

from enrolling.

The table below shows the detail of undergraduate

need-based scholarship aid. Schedules 8 and 9 in

Appendix B provide supplemental information on under-

graduate financial aid.

Athletic scholarships, which are not need-based, will be

awarded to undergraduate students in the amount of $26.9

million in 2018/19, a 3.5% increase over the projection for

the current year.

Graduate Aid—Stanford expects to provide a total of $467.8

million in several kinds of financial support to graduate stu-

dents in 2018/19. The table on the facing page illustrates

the components of financial support for graduate students.

Graduate financial aid, which represents the tuition com-

ponent of a fellowship, is projected to be $126.3 million.

The university expects financial aid for graduate students

to increase 5.7% due to planned increases in tuition rates,

graduate student enrollments, and the growing percentage

of students receiving support, as select units and disciplines

are able to broaden their funding for graduate studies. This

is the only portion of graduate student support that is cap-

tured in the Financial Aid line of the Consolidated Budget for

Operations on page 4.

The other three components of graduate student financial

support are stipends, tuition allowance, and research and

teaching assistantship (RA/TA) salary and benefits and

comprise the remaining $341.5 million. Consistent with

the presentation of Stanford’s financial statements, the

Consolidated Budget table rolls up tuition allowance (tuition

benefits for RAs and TAs) and RA/TA salary and benefits

within the compensation line, while stipends and other fees

UNDERGRADUATE NEED-BASED SCHOLARSHIP AID[IN MILLIONS OF DOLLARS] 2014/15 2015/16 2016/17 2017/18 2018/19 SOURCE OF AID ACTUAL ACTUAL ACTUAL PROJECTED PLAN

Department Funds and Expendable Gifts 3.6 4.2 4.0 3.6 3.1Endowment Income 86.9 95.2 99.9 104.3 110.6President’s Funds - The Stanford Fund 18.5 18.5 18.7 20.3 19.7General Funds 21.9 17.4 21.0 25.5 28.1Subtotal Stanford Funded Scholarship Aid 130.9 135.2 143.6 153.7 161.5Federal Grants 5.8 5.8 5.8 5.8 6.0Total Undergraduate Scholarship Aid 136.6 141.0 149.4 159.5 167.4

General Funds as a Share of Stanford Funding 17% 13% 15% 17% 17%President’s Funds as a Share of Stanford Funding 14% 14% 13% 13% 12%Endowment Funds as a Share of Stanford Funding 66% 70% 70% 68% 69%

Number of Students 3,254 3,196 3,198 3,242 3,290


are reflected in the other operating expenses line. Although

the minimum rate for TA and RA salaries will increase by

4.75% in 2018/19, the university expects overall expense

to increase by 5.5%. Likewise, the university expects higher

tuition allowance, which is projected to increase 6.5%, than

standard increases to tuition rates. These expected increases

are in line with historical trends and are attributed to the

need for more TAs in the School of Engineering, primarily for

computer science courses.

Graduate student support is funded by all of Stanford’s vari-

ous fund types, with the exception of service center funds.

Restricted funds (gifts and endowment) contribute the most

at 44%, followed by unrestricted general funds at 26%,

grants and contracts at 24%, and the remaining 6% by un-

restricted designated funds. In aggregate, these proportions

have largely stayed consistent in recent years. However,

the distribution of funding varies substantially within the

schools. Not surprisingly, grants and contracts provide a

significantly higher proportion of graduate student funding in

the research-intensive schools like Medicine and Engineering.

The professional schools, on the other hand, rely almost ex-

clusively on restricted funds.

While not matriculated as graduate students, Stanford also

provides support to postdoctoral research affiliates. More

than sixty percent of these individuals work in the School

of Medicine, and 67.8% of support for all postdocs is pro-

vided by sponsored research funding. Postdocs are charged

a tuition fee of $125 per quarter, which is mostly covered by

school funds as well as by general funds. Postdocs receive a

salary or a stipend, as well as health benefits in exchange for

their work. The total expense for postdocs is expected to be

$154.5 million in 2018/19, an increase of 5.5% over 2017/18.

Schedule 5 in Appendix B details actual graduate student and

postdoc expense by source of funds from the past two years.

Internal Debt ServiceStanford issues debt securities in the capital market to fi-

nance capital projects and to provide bridge financing for the

future receipt of gifts for capital projects. Internal loans are

advanced to projects and amortized generally over the use-

ful life of assets in equal installments. These internal loans

are assessed the Budgeted Interest Rate (BIR), which is a

weighted average rate of the debt issued to finance capital

projects and includes bond issuance and administrative costs.

The BIR is set at 4.25% for 2018/19, no change from the rate

of the past five years.

2018/19 FINANCIAL AID AND OTHER GRADUATE STUDENT SUPPORT FROM STANFORD RESOURCES[IN MILLIONS OF DOLLARS]

PROJECTED DESIGNATED 2017/18 GENERAL AND GRANTS & YEAR-END FUNDS RESTRICTED CONTRACTS TOTAL

Student Financial Aid 160.0 Undergraduate 28.1 133.4 6.5 167.9 1

26.0 UG Athletic 26.9 26.9 119.5 Graduate 18.4 96.1 11.7 126.3

305.5 Total 46.5 256.4 18.2 321.1

Other Graduate Support 91.9 Stipends & Health Insurance Surcharge 26.6 46.1 24.4 97.0 91.4 Tuition Allowance 43.1 33.4 20.8 97.3 139.5 RA/TA S&B 35.5 58.3 53.4 147.2

322.8 Total 105.2 137.7 98.5 341.5

146.4 Postdoc Support 5.1 44.6 104.7 154.5

774.7 Total Student Support 156.9 438.7 221.5 817.11 This number is $500,000 higher than the Stanford Funded Scholarship Aid figure above because

it includes federal grants for non-need-based aid recipients.


STANFORD REDWOOD CITY

BackgroundSubsequent to the approval of the December 2000 General Use Permit (GUP), it became clear that obtaining additional on-campus entitlements would become increasingly dif-ficult. As a result, the university considered various options for relocating non-academic programs to off-campus sites, in order to reserve the core campus for Stanford’s highest academic priorities. With the objective of finding a location within a 15-mile radius of Stanford, in 2005 the university purchased 35 acres in Redwood City (5 miles northeast of Stanford).

EntitlementsIn 2008, Stanford submitted an application to develop Stanford Redwood City (SRWC), and Redwood City initi-ated a General Plan and Zoning Map amendments, along with a Precise Plan for the new campus. The process was completed five years later with the execution of the Precise Plan and Development agreements, resulting in a capped development of 1,518,000 square feet.

Phase 1 Design and ConstructionPlanning and design ensued with one of the primary design goals being to reflect the ethos of Stanford and its main cam-pus. In February 2017, the Board of Trustees approved con-struction for SRWC’s first phase of development. At $568.8 million, the approved budget included the development over 650,000 square feet for four main buildings, a recreation center, central energy facility and a parking structure. The new buildings are designed as Class A office buildings with significant sustainable features incorporated throughout, as well as a variety of creative passive and active open spaces for the enjoyment of employees. The new campus is cur-rently under construction.

Occupants, New Ways of Working, Change Management, and Commuting2,700 administrative staff from the following areas will occupy SRWC Phase 1: Business Affairs; School of Medicine; Office of Development; Land, Buildings and Real Estate; University Human Resources; Residential & Dining Enterprises; the Libraries; and the Office of Technology and Licensing.

Occupant representatives have been involved in advising the tenant improvement design and furniture selection.

A change management committee and communications team have been assembled to help with the transition. These staff are working hard to develop exciting new ways of work-ing, including increasing the use of video communication and cloud storage. Transportation demand management (TDM) programs are under development, the design of which focus on convenient commute programs where possible. When complete, SRWC will provide an amenity-rich, modern work-place for Stanford’s valued staff. Initial move-in is targeted for February 2019, and full occupancy is expected by the end of fiscal year 2018/19.

Annual Budget ImpactsIn its first full year of operations (2019/20), the annual bud-get is projected at $54.5 million. This budget is summarized as follows:

SRWC 2019/20 BUDGET[IN MILLIONS OF DOLLARS]

Operations Campus Services 8.4 Operations & Maintenance 8.8 Building Renewal Reserve 6.6

Total Operations 23.8

Debt Service 30.7

Total SRWC Budget 54.5

Campus Services includes IT infrastructure and services, parking and TDM programs, recreation center operations, and campus security. Operations & Maintenance includes utilities, custodial, campus staffing, and repairs and mainte-nance. An annual contribution will be paid to a building re-newal reserve to be used for the future replacement of build-ing subsystems (e.g. the roof, plumbing and air conditioning systems). The capital costs for SRWC are largely funded by debt, resulting in annual internal debt service.

The $54.5 million in incremental university annual expense will be funded through a combination of university general funds, the School of Medicine (who will occupy 33% of the space), and an annual contribution from Stanford Health Care and Lucile Packard Children’s Hospital.

Once occupied, SRWC will free up square feet on campus and in the Research Park, the latter of which will be re-ten-anted at market rental rates, increasing revenue to general funds.


Internal debt service in the Consolidated Budget includes

debt service incurred on the internal loans used to finance

capital projects and bridge finance the receipt of gifts, but

excludes $9.6 million of debt service for the Rosewood Sand

Hill Hotel and the Sand Hill Road Office Complex. Internal

debt service is forecast at $222.0 million in 2018/19, a $25.1

million increase from the level in 2017/18.

Stanford Redwood City Phase I is the main driver for this in-

crease. This state-of-the-art campus is expected to open in

February 2019 and accommodate over 2,700 administrative

staff. The debt service cost is estimated to be $20.8 million in

the first year of operation and stabilize at approximately $30

million in 2019/20. More details on the annual budget impact

of the Redwood City campus are covered on the previous

page. Another strategic project in the pipeline is the Neuro/

ChEM-H (Chemistry, Engineering & Medicine for Human

Health) Research Complex, costing $1.1 million of debt service

in 2018/19. Other projects that propel the increase include

the Bass Biology Research building and the Denning House

for the Knight-Hennessey Scholars Program, which are both

slated to open in the summer of 2018. Planned upgrades to

critical computing and communications systems in University

IT contribute to the remaining increases.

Other Operating ExpensesOther operating expenses include all non-salary expendi-

tures in the Consolidated Budget except financial aid and

internal debt service, which are detailed separately above.

This category, which accounts for nearly 30% of university

consolidated expenses, will total $1,816.5 million in 2018/19,

decreasing by 0.6% from the projected 2017/18 level. The

decrease is entirely attributable to SLAC’s construction

program, whose costs are expensed rather than capitalized

as the facilities are owned and depreciated by the federal

government. After significant construction costs in 2016/17

and 2017/18, spending on the Linac Coherent Light Source

(LCLS-II) and the Large Synoptic Survey Telescope (LSST)

will wind down and start the transition to operations, lowering

SLAC’s non-salary expenditure to $229.1 million, a reduction

of nearly 25%. Exclusive of SLAC construction costs, the

growth rate of other operating expenses will be 4.2%.

OTHER OPERATING EXPENSES[IN MILLIONS OF DOLLARS]

PERCENT M A J O R COM P O N E N TS 2017/18 2018/19 C H A N G E

SLAC Non-Salary 304.6 229.1 -24.8%

Materials and Supplies 294.4 303.1 3.0%

Professional Services 229.7 244.5 6.5%

General Services 171.3 174.0 1.6%

Stipends and Other Aid 155.1 163.1 5.2%

Repairs and Maintenance 109.1 121.1 11.0%

Capital Equipment and Library Materials 100.4 103.7 3.3%

Telecommunications and Utilities 58.6 59.4 1.4%

Other 404.3 418.4 3.5%

Total 1,827.4 1,816.5 -0.6%

Excluding SLAC, the largest component of other operating

expenses is materials and supplies, totaling $303.1 million

in 2018/19. Fifty percent of these expenses are for the pur-

chase of materials and supplies in laboratories and research

settings. Due to its research-intensive nature, the School of

Medicine is a significant driver of the activity in this category.

Expenses for professional services are the second largest

component. Largely comprising legal, accounting, and con-

sulting services, this expense category is projected to be

$244.5 million in 2018/19, a 6.5% increase. Over the past

five years, growth has been consistently close to 7%. This is

attributable to individual units’ operational needs in a decen-

tralized business environment.

Expenses related to general and administrative services will

increase modestly to $174.0 million. They represent a diverse

range of external payments for non-professional services,

including insurance, permits, royalties, marketing, and ad-

vertising services.

Also included in other operating expenses are stipends for

graduate students and postdoctoral scholars and other

non-tuition aid, rising to $163.1 million in 2018/19. Close to

sixty percent of expenses in this category are for graduate

student stipends. They will increase 5.2%, in anticipation

of average stipend payment growth and graduate student

enrollment growth.


Capital equipment and library materials expenses together

are expected to grow at 3.3% over 2017/18, to $103.7 million.

The research-intensive units including School of Medicine,

Dean of Research, School of Engineering, and School of

Humanities and Sciences, coupled with the Libraries, com-

prise almost 90% of the total expenses in this category.

The remaining types of expenses are external payments for

repairs and maintenance of buildings, equipment, and ve-

hicles ($121.1 million); payments for rental and leases ($83.3

million); external payments for telecommunications and

utilities ($59.4 million); and services purchased from Stanford

Health Care and Stanford Children’s Health ($57.9 million).

An additional $277.2 million includes travel expenses, the

cost of food associated with residential and dining services,

and other property related expenses.

Utilities—In the past few years, Stanford’s energy utilities,

including electricity, steam/hot water, and chilled water,

have undergone major changes. The university completed

the Stanford Energy System Innovations (SESI) project in

2015. The off-campus Stanford Solar Generation Station,

a 68-megawatt peak solar plant, along with 5 megawatts

of rooftop solar systems on campus, now provides 53% of

Stanford’s total electricity use. The remaining 47% of the

purchased electricity comes from the general California grid,

which is currently at least 27% renewable and, by state law,

will increase to 50% renewable by 2030.

Total campus utilities expenses include utilities, primarily

electricity, purchased from external providers, as well as the

university service center costs for generating and delivering

electricity, heating, cooling, water, and sewer to the campus.

In 2018/19, the budget for total campus utilities, including

commodities and distribution expenses, is $108.9 million, a

modest increase of 1.4%. Nearly ninety percent of the ex-

pense is incurred in the service center, which is operated by

Land, Buildings and Real Estate (LBRE), and which provides

utilities to most of the campus and portions of the two hos-

pitals. The service center has three primary components: 1)

externally purchased utilities (35%), 2) debt amortization of

capital expenditures (39%), and 3) operations and mainte-

nance in support of utility delivery (26%). Based on the rela-

tive costs of these components and the expected consump-

tion, a charge-out rate is set for each utility. The consolidated

utility service center budget is expected to increase by only

1.0% to $94.6 million in 2018/19. Forty-one percent will be

paid by general funds on behalf of the non-formula units.

The budget includes an additional $14.2 million of utilities

expense that units are expected to purchase from external

providers, including the City of Palo Alto, Pacific Gas &

Electric, CalPine Energy, and the hospitals. Some examples

are $6.9 million paid by the School of Medicine for utilities at

the Stanford Research Park and Medical Center properties;

$4 million paid by Residential & Dining Enterprises primarily

to cover the utility needs at Munger, Escondido Village, and

off-campus housing units; and $1.1 million by the Office of

the President and Provost for utilities in common areas and

vacant units of Stanford West, Welch Road, and Colonnade

apartments.

Operations & Maintenance—Operations & Maintenance

(O&M) includes grounds maintenance, custodial, trash,

recycling, elevator repair, gutter maintenance, re-lamping,

and other services along with preventive and reactive main-

tenance on buildings, infrastructure, equipment, and vehicles.

The total O&M budget for the university is projected to be

$195.5 million in 2018/19, rising 9.5% from 2017/18.

The largest component in the O&M budget is external pay-

ments for repairs and maintenance, which is a subset of

Other Operating Expenses discussed above. It will increase

11.0% to $121.1 million in 2018/19, due to a combination of

inflationary cost rise and incremental O&M costs related to

new facilities in 2018/19 of $6.2 million: $3.9 for the Bass

Biology building and $1.2 million for the Neuro/ChEM-H

Research Complex.

The total O&M budget also encompasses significant expens-

es that are found in other lines of the Consolidated Budget:

1) $39.1 million of internal O&M services performed by the

service centers in LBRE, including most of the grounds ser-

vices for the campus, approximately 50% of the building

maintenance, and 100% of the infrastructure maintenance

(e.g., storm drains and roads). These service center ex-

penses are reflected in the Other Internal Transfers line of the

Consolidated Budget.

2) $18.6 million of labor costs for O&M staff hired by indi-

vidual units. A significant portion, $12.5 million, resides in

Residential & Dining Enterprises (R&DE), which employs

bargaining unit staff to perform custodial and maintenance

services in housing. The labor costs are captured in compen-

sation expenses of the Consolidated Budget.


3) $10.0 million of other non-salary expenses directly asso-

ciated with the provision of O&M services. They principally

include costs for temporary services, contract administra-

tion, and equipment rentals for performing O&M. They are

dispersed across a variety of other operating expense items

in the Consolidated Budget.

4) $6.7 million of services charged by Stanford Health Care,

mostly incurred by the School of Medicine (SoM).

In addition to LBRE, several other units oversee O&M for

large areas of the campus. R&DE provides the operations and

maintenance for approximately 33% of the campus; SoM for

about 11%; and DAPER for approximately 6%. The Graduate

School of Business (GSB) is fiscally responsible for operations

and maintenance of the Knight Management Center and

Highland Hall.

TransfersThe transfers section of the Consolidated Budget for

Operations accounts for the transfers of funds between units,

between fund types, and out of the Consolidated Budget

altogether, and yields the change in fund balances expected

in each fund type and in the Consolidated Budget as a whole.

In 2018/19, transfers result in a net reduction from operating

results of $140.7 million.

The schools, administrative departments, and central admin-

istration authorize movements of funds out of operations to

create other types of assets. These assets include student

loan funds, funds functioning as endowment (FFE), capital

plant projects or reserves, and funds held in trust for indepen-

dent agencies such as the Howard Hughes Medical Institute,

the Carnegie Institution, and the Associated Students of

Stanford University. These transfers to and from assets

vary widely from year to year, and a single transaction can

greatly affect these numbers and the resulting bottom line

of the Consolidated Budget. Using information provided by

budget units, and combining that information with central

administration commitments, the Consolidated Budget for

Operations adds or subtracts these transfers from the operat-

ing results (revenues less expenses).

n Transfers to Endowment Principal—This line represents

transfers of expendable funds to endowment principal,

which create FFE, or withdrawals of FFE to support opera-

tions. In 2018/19 Stanford is projecting that a net $45.0

million will be transferred to FFE from current operating

funds. This figure is informed by the units’ individual

budget plans and is significantly lower than the average

of recent years. The slow growth of endowment payout in

the past years as well as changes to the policies that gov-

ern access to funds voluntarily invested in the endowment

contribute to the lower planned transfers to endowment

principal. Furthermore, schools and departments often

identify excess funds to invest in FFE during the year-end

process when their operating results are known, and they

may not include these actions in their budget plans.

n Transfers to Plant—The transfers in this category are

primarily for capital projects. Total transfers to plant of

$117.3 million are planned for 2018/19. The majority,

nearly $100 million of this total, are transfers made from

central university funds and include $70.3 million from the

Capital Facilities Fund (see more on the CFF in Chapter

4), $11.8 million from the Facilities Reserve to support a

variety of smaller projects in the schools, as well as $12

million for faculty home purchases and renovations. Land,

Buildings and Real Estate will transfer $10.1 million from

the Planned Maintenance Program for capital renewal

projects. The School of Medicine will transfer $5.6 million

to plant for renovation projects for research park spaces,

but this amount will be offset by the return of $13.9 million

from the completed Lokey Stem Cell Research building;

The remainder is made up of smaller amounts transferred

from various units to capital projects such as lab fit-ups,

equipment fabrication, and renovations.

n Other Internal Transfers—Additional financial activity af-

fects the net results of the Consolidated Budget, including

internal revenue and internal expense, which are gener-

ated from those charges that are made between depart-

ments within the university for services provided through

charge-out mechanisms. Communication services

provided by Business Affairs IT to university departments

are one type of internal revenue and expense. Another is

the charge that the Department of Project Management

(the group that manages construction projects on cam-

pus) allocates to capital projects that use their services.

These charges contribute to the revenue and expense of

individual departments and fund types but, ultimately,

are netted against each other in the presentation of the

Consolidated Budget to avoid double counting. There is,

however, a net $21.6 million of internal revenue flowing

into the Consolidated Budget, primarily from capital plant


funds, which are outside the Consolidated Budget, into

service centers and other funds within the Consolidated

Budget. Additionally, this amount includes transfers of

current funds to student loan funds, such as the loan

forgiveness programs in the Graduate School of Education

and Law. It also includes any transfers from living trusts

and pending funds.

GENERAL FUNDSThe general funds budget is an essential part of the

Consolidated Budget. General funds are completely unre-

stricted, supporting a significant fraction of salaries, as well

as the necessary administration and infrastructure for all

core university activities. The main sources of general funds

are student income, indirect cost recovery from sponsored

activity, unrestricted endowment income, and income from

the expendable funds pool (EFP). Each school receives an

allocation of general funds in addition to its restricted and

designated funds. Administrative units are supported almost

entirely by general funds.

General funds revenue in 2018/19 is forecast to be $1,512.1

million, representing an increase of 4.2%, or $60.9 million

over the expected level for 2017/18. Approximately 47%, or

$28.5 million, of the increase is attributable to rising student

income, largely reflecting increased tuition rates. Payout

growth in unrestricted endowments and increases in rental

income from Stanford endowed lands account for another

$20.0 million. The remaining increase, totaling $12.4 million,

is generated by indirect cost recovery, health care services

income, and other external income.

2018/19 NON-FORMULA GENERAL FUNDS In keeping with the formula agreements, $204.3 million of

general funds will be directed to the School of Medicine, the

Graduate School of Business, and other formula units. In

addition, $153.3 million is set aside for the Capital Facilities

Fund, the Academic Facilities Reserve, the Housing Reserve,

and other smaller items. The remaining $1,154.7 million of

general funds are allocated by the provost to non-formula

units.

During the annual general funds budgeting process, each of

Stanford’s 28 budget units (schools, administrative, and aca-

demic support units) meets with the Budget Group, the pro-

vost’s advisory body composed of senior faculty and admin-

istrators to 1) review the programmatic goals and priorities of

the organization; 2) report on financial status and progress

of current initiatives; 3) discuss organizational growth and

funding plans; and 4) submit requests for incremental general

funds and reallocations. At the end of the process, the pro-

vost makes general funds allocation decisions based on the

units’ presentations, consultation with the Budget Group, and

a final forecast of available general funds.

Although the Long Range Planning process was still underway

when general funds allocation decisions were made in mid-

March, the Budget Group was mindful of the central themes

emerging from that process. The group put strong emphasis

on addressing the cost-of-living challenge, a situation deeply

felt by many at Stanford. Second, the provost was keenly in-

terested in the needs for student support and the importance

of enhancing diversity.

Bearing in mind these areas of focus, the Budget Group allo-

cated $31.6 million of incremental general funds for 2018/19,

which are reflected in the pie chart on the following page.

They include:

n Long Range Planning Initiatives—$12.4 million will

support programs that are consistent with the emerg-

ing directions of the Long Range Planning process. They

include a generous salary program intended to address

staff market, equity, and retention issues, support for

the Stanford Research Computing Center as an initial

investment in shared research platforms, and $2.0 million

towards an array of programs aimed at boosting diversity

and inclusion efforts in faculty and student communities.

Some examples are to enhance the programmatic support

for the Diversity and First-Gen Office, to support faculty

recruitment programs such as the Faculty Incentive Fund

(FIF) and Faculty Development Initiative (FDI), and to

stabilize the operations of seven student community

centers. In addition, $4.5 million is allocated to the under-

graduate need-based financial aid program, in anticipation

of a higher fraction of first-generation and low-income

students in the admit pool. These allocation decisions

also highlight the university’s continuing commitment to

enriching the student experience and financial support.


Academic/Faculty Support

4.4

New Facilities7.0

MARKET-BASED ADJUSTMENTS

35.3

2018/19 BASE GENERAL FUNDS ADDITIONS: $66.9 MILLION [IN MILLIONS OF DOLLARS]

INCREMENTALALLOCATIONS

31.6

Administrative Support

7.8

Non-Salary & Existing Facilities

18.9

Base Conversion

7.1

Program Enhancement

14.5

New Programs

10.0

Salaries & Benefits

16.4

Long-Range Planning Initiatives

12.4

n Academic Support—$4.4 million of general funds are

provided to augment the institutional support for aca-

demic and faculty programs. Included in this total is $1.3

million to the arts and humanities disciplines within the

School of Humanities and Sciences for the expansion of

art practice classes, the establishment of annual research

funding for arts and humanities faculty, and the offering

of summer language instruction programs. The Stanford

Neuroscience Institute received $350,000 to base fund

its administrative operations as the institute’s operation

matures; and the Graduate School of Education was al-

located $400,000 to ramp up its new Special Education

and the Race, Inequality and Language In Education (RILE)

programs, along with richer financial aid packages for the

school’s master students.

n Administrative Support—$7.8 million of general funds

are focused on strengthening mission-support areas in

the administrative sectors, in an effort to better serve

expanded business needs and address increasing opera-

tional complexity. Of this amount, $2.5 million is needed

to support University IT to meet the latest cloud trans-

formation, video conferencing, and data security require-

ments. Several enterprise systems also received ongoing

support for operations or enhancements in 2018/19,

including the Evolve Financial Reporting and Analysis tool,

the Stanford Research Administration System (SeRA),

and the Graduate Financial Support System. Furthermore,

the heightened awareness around compliance and safety

played an instrumental role in adding staffing support in

the Office of General Counsel, Environmental Health &

Safety, and University Human Resources.

n New Facilities Costs—$7.0 million of general funds will

support incremental O&M, utilities, and debt service

needs for new buildings and facilities that come online

in 2018/19. The two primary cost drivers are the Bass

Biology Building ($4.6 million) and the Neuro/ChEM-H

Research Complex ($1.2 million).

In total, the university added almost $67 million of general

funds to the 2018/19 budget. Within the $31.6 million of in-

cremental allocations discussed above, more than two-thirds,

or $21.6 million, target existing programs, and $10.0 million

will support new programs across a variety of academic and

administrative units. The remaining $35.3 million was used

to fund the merit-base cost rise in compensation programs

and inflationary adjustments to non-salary and existing facil-

ity budgets.


PROJECTED STATEMENT OF ACTIVITIESStanford University, as a not-for-profit institution and a

recipient of restricted donations, uses a fund accounting

approach to manage itself internally, reporting that activity

in its Consolidated Budget for Operations. Stanford also

presents a Statement of Activities, prepared in accordance

with accounting principles generally recognized in the United

States of America (U.S. GAAP). The Statement of Activities

summarizes all changes in net assets during the year (both

operating and non-operating).

The table on the next page compares the Consolidated

Budget for Operations with the projected operating results

section of the Statement of Activities. Cash resources are

classified into fund groups, which are subject to different legal

and management constraints.

There are four different categories of funds:

1) Current Funds, which include revenue to be used for

operating activities—e.g., tuition revenue, sponsored re-

search support, endowment payout, and other investment

income;

2) Endowment Principal Funds, which include all of Stanford’s

endowment funds, both those restricted by the donor,

and those designated as endowment funds by university

management;

3) Plant Funds, which include all funds to be used for capital

projects, such as construction of new facilities or debt

service; and

4) Student Loan Funds, which include those funds to be lent

to students.

The Consolidated Budget for Operations includes only current

funds, and reflects the sources and uses of those funds on a

modified cash basis that more closely matches the way the

university is managed internally. Within these current funds,

specific funds are further classified by their purpose and level

of restriction. The Consolidated Budget for Operations also

reflects the transfer of current funds for investment in other

fund groups: funds functioning as endowment, student loan

funds, and plant funds. For example, a school may choose to

transfer operating revenue to fund a future capital project.

Similarly, a department may decide to move unspent cur-

rent funds to the endowment, either to build capital for a

particular purpose, or to maximize the return on those funds

as a long-term investment. In both these instances, these

funds are no longer available to support operations, so they

decrease the Consolidated Budget for Operations operating

results. These transfers, however, have no impact on the

Statement of Activities operating results, as the net assets of

the university have not changed (one type of asset has been

converted into another type of asset).

Converting the Consolidated Budget into the Statement of ActivitiesTo convert the Consolidated Budget to the Statement of

Activities under U.S. GAAP, certain revenue and expense

reclassifications, transfers, and adjustments are necessary.

The following adjustments are made to the Consolidated

Budget to align it with the U.S. GAAP basis Statement of

Activities:

a) Eliminate Fund Transfers. The Consolidated Budget

includes transfers of $170.1 million of current funds to other

fund groups, including plant, student loans, and funds func-

tioning as endowment. The transfers out are added back for

the Statement of Activities.

b) Remove Capital Equipment purchases. The Consolidated

Budget includes the projected current year’s purchases of

capital equipment as expense. For GAAP purposes, the cost

of capital equipment is recorded as an asset on the Statement

of Financial Position. As a result, $103.7 million is eliminated

from Consolidated Budget expenses.

c) Record Depreciation expense for the current year’s asset

use. The Statement of Activities includes the current year’s

depreciation expense related to capital assets. Depreciation

expense includes the depreciation of capital equipment and

other capital assets, such as buildings and land improve-

ments. This adjustment adds $394.6 million of expense to

the Statement of Activities.

d) Adjust Fringe Benefit expenses. The Consolidated

Budget reports the fringe benefits cost based on the fringe

benefits rates charged on salaries; the rates may include

over- or under-recovery of actual costs from prior years. The

Statement of Activities reflects only current year expenses

for fringe benefits, so the over- or under-recovery amount

has to be removed from Salaries and Benefits. The Statement

of Activities also includes accruals for certain benefits, such


COMPARISON OF CONSOLIDATED BUDGET AND STATEMENT OF ACTIVITIES, 2018/19Unrestricted Net Assets[IN MILLIONS OF DOLLARS]

STATEMENT OF ACTIVITIES FISCAL YEAR 2018/19

2017/18 2017/18 PROJECTED PROJECTED 2016/17 JUNE 2017 PROJECTED CONSOLIDATED STATEMENT OF ACTUALS BUDGET YEAR-END BUDGET ADJUSTMENTS ACTIVITIES

Revenues and Other Additions

Student Income:

356.9 369.2 370.4 Undergraduate Programs 384.4 384.4

361.2 373.7 378.3 Graduate Programs 393.0 393.0

186.6 194.5 195.7 Room and Board 204.7 204.7

(286.9) (298.2) (305.5) Student Financial Aide (321.1) (321.1)

617.8 639.2 639.0 Total Student Income 982.1 (321.1) 660.9

Sponsored Research Support:

786.9 806.8 825.3 Direct Costs—University 844.7 844.7

264.6 278.0 272.7 Indirect Costs 279.9 279.9

1,051.5 1,084.8 1,098.0 Total University Research Support 1,124.6 1,124.6

584.6 559.4 572.5 SLAC Sponsored Research 510.0 510.0

1,023.3 1,159.3 1,113.8 Health Care Services f,k 1,311.0 (94.5) 1,216.5

508.6 391.2 449.9 Gifts & Net Assets Released from Restrictions l 424.9 25.0 449.9

Investment Income:

1,166.4 1,243.6 1,237.0 Endowment Income j 1,319.9 0.2 1,320.1

143.4 228.0 231.5 Other Investment Income g 292.5 (47.8) 244.7

1,309.8 1,471.6 1,468.5 Total Investment Income 1,612.4 (47.6) 1,564.8

508.9 521.6 551.4 Special Program Fees and Other Income j 559.8 5.6 565.5

5,604.6 5,827.2 5,893.1 Total Revenues 6,524.7 (432.5) 6,092.2

Expenses

3,301.5 3,625.1 3,621.7 Salaries and Benefits d,g,j 3,853.6 6.8 3,860.4

Financial Aid e 321.1 (321.1)

127.3 133.6 138.9 Debt Service h 222.0 (77.6) 144.4

Capital Equipment Expense b 103.7 (103.7)

364.9 365.4 365.2 Depreciation c 394.6 394.6

1,583.9 1,588.3 1,659.2 Other Operating Expenses f,g,j 1,712.8 (70.8) 1,642.0

5,377.5 5,712.5 5,785.0 Total Expenses 6,213.3 (171.8) 6,041.5

227.0 114.7 108.2 Revenues less Expenses 311.4 (260.7) 50.7

Transfers

Additions to Endowment Principal a (45.0) 45.0

Other Transfers to Assets a (125.1) 125.1

Net Internal Revenue/Expense i 29.4 (29.4)

0.0 0.0 0.0 Total Transfers (140.7) 140.7 0.0

Excess of Revenues Over Expenses 227.0 114.7 108.2 After Transfers 170.7 (120.0) 50.7


as pension and post-retirement benefits that are required by

GAAP to be shown as expense in the period the employee

earns the benefit. For 2018/19, GAAP expenses are expected

to be higher than budgeted expenses by $34.3 million.

e) Reclassify Financial Aid. GAAP requires that the tuition

portion of student financial aid be shown as a reduction of

student revenue. In the Consolidated Budget, financial aid is

reported as an operating expense. Accordingly, $321.1 million

of student financial aid expense is reclassified as a reduction

of student revenues in the Statement of Activities.

f) Adjust for Health Care Services. For GAAP purposes,

health care services revenues received from the hospitals

are reported net of expenses that the hospitals charge the

university. The Consolidated Budget presents these revenues

and expenses on a gross basis. This adjustment results in a

reduction of $56.1 million in both Other Operating Expenses

and health care services revenues, with no net change to the

bottom line.

g) Adjust for Internal Investment Management Expenses.

Included in the Consolidated Budget revenues and expenses

are $47.8 million of expenses of the Stanford Management

Company and the real estate operations within Land,

Buildings & Real Estate. For GAAP purposes, these expenses,

incurred as part of the generation of investment returns, are

netted against investment earnings. This adjustment reduces

Other Investment Income, as well as reducing $30.3 million

from compensation and $17.5 million from non-compensation

expenses, with no net change in the bottom line.

h) Adjust for Debt Service. The Consolidated Budget in-

cludes all internal debt service. It reflects the use of funds to

amortize principal and interest. On a GAAP basis, interest

expense is reported in the Statement of Activities and repay-

ment of debt principal is reported as reductions in Notes and

Bonds Payable in the Statement of Financial Position. GAAP

amounts also include interest payments for the Rosewood

Hotel and Sand Hill Road Offices, which are not included in

the Consolidated Budget for Operations. Therefore, Internal

Debt Service expense must be reduced by the amount of

internal principal amortization, increased for the Rosewood

Hotel and Sand Hill Road Offices interest, and adjusted to ac-

count for the difference between internal and external interest

payments. These combined adjustments reduce internal debt

service expense by $77.6 million.

i) Eliminate Net Internal Revenue/Expense. The Statement

of Activities includes the activity of all fund types, while the

Consolidated Budget does not include plant funds. Therefore,

the net inflow of $29.4 million from plant funds into the

Consolidated Budget for purchases of internal services is

eliminated.

j) Include Stanford Sierra Camp. The Statement of

Activities includes the revenues and expenses of the Sierra

Camp that the Alumni Association runs as a separate lim-

ited liability corporation. $5.9 million in revenues and $5.6

million in expenses is added ($2.8 million in Salaries and

Benefits and $2.8 million in Other Operating Expenses) to the

Consolidated Budget for Operations.

k) Eliminate Hospital Equity Transfers. Payments received

from the hospitals for which no services are required to be

provided by the university are considered transfers of equity

between the university and the Hospitals and are not included

in operating revenue in the Statement of Activities. These

include contributions by Hospital construction projects to the

Stanford Infrastructure Program and performance bonuses

related to Physician Service Agreements. In the Consolidated

Budget, they show as health care services income. This ad-

justment removes $38.4 million of revenue.

l) Include Net Assets Released to Other Types of Funds.

The Consolidated Budget includes Net Assets Released to

Current Funds, such as payments on gift pledges made in

prior fiscal years. The Statement of Activities also includes

pledge payments to other types of funds such as Plant Funds.

Including these Net Assets Released results in a $25.0 million

addition to Gifts and Net Assets Released from Restrictions.

In summary, the impact of these adjustments decreases the

Consolidated Budget’s projected $170.7 million surplus by

$120.0 million, resulting in a projected surplus of $50.7 mil-

lion in the Statement of Activities.

23ACADEMIC UNITS

CHAPTER 2

ACADEMIC UNITS

SLAC 10%H&S 10%

Medicine49%

Engineering 9%

GSB 6%

Law 2%

Education 2%SE3 1%

Libraries 2%

Other1 4%

Dean of Research 5%

Auxiliary$416.5 Million

Administrative$1,259.1 Million

2018/19 Consolidated Expenses by Academic Unit

Academic Units$4,989.9 Million

1 Other is Hoover, VP for Undergraduate Education, VP for Graduate Education, VP for Teaching and Learning, and VP for the Arts.

CONSOLIDATED BUDGET FOR OPERATIONS, 2018/19: ACADEMIC UNITS[IN MILLIONS OF DOLLARS]

TOTAL REVENUES RESULT OF TRANSFERS CHANGE IN AND OPERATING TOTAL CURRENT (TO)/FROM EXPENDABLE TRANSFERS EXPENSES OPERATIONS ASSETS FUND BALANCE

Academic Units Graduate School of Business 290.4 288.8 1.6 (1.4) 0.2 School of Earth, Energy & Environmental Sciences 71.1 73.7 (2.6) 0.5 (2.1) Graduate School of Education 78.6 78.9 (0.4) (1.7) (2.1) School of Engineering 430.5 431.1 (0.6) (8.2) (8.8) School of Humanities and Sciences 521.8 508.4 13.4 (13.1) 0.3 School of Law 101.4 94.9 6.6 (6.4) 0.2 School of Medicine 2,527.5 2,467.6 59.8 21.0 80.8 Vice Provost and Dean of Research 228.6 237.6 (9.0) 7.0 (2.0) Vice Provost for Undergraduate Education 48.1 50.8 (2.8) 0.1 (2.6) Vice Provost for Graduate Education 7.9 12.7 (4.8) (0.3) (5.1) Vice Provost for Teaching and Learning 41.2 41.2 0.1 0.0 0.1 Vice President for the Arts 22.6 25.5 (2.9) (1.0) (3.9) Hoover Institution 68.9 74.2 (5.3) 0.0 (5.3) Stanford University Libraries 91.5 90.0 1.5 0.0 1.5 SLAC 514.2 514.4 (0.2) 0.0 (0.2)

Total Academic Units 5,044.2 4,989.9 54.3 (3.5) 50.8

OVERVIEW OF ACADEMIC UNITS

This chapter summarizes programmatic and financial activity for each academic unit. The revenue

expectation in 2018/19 for these academic units comprises nearly 75% of the university total revenue.

Overall, the academic units project an operating surplus of $54.3 million. After transfers to facilities and

endowment, the unit budgets overall will achieve a $50.8 million surplus.

24 ACADEMIC UNITS

GRADUATE SCHOOL OF BUSINESS

PROGRAMMATIC DIRECTIONSThe Stanford Graduate School of Business (GSB) remains

focused on delivering transformational experiences to its

students in the areas of business, management, and leader-

ship education. The school’s mission is to transform these

students into leaders who have the skills to change lives,

organizations, and the world. Degree programs offered by

the GSB are the two-year full-time MBA, the PhD in seven

distinct fields of study, and the one-year Master of Science in

Management. In addition, the GSB conducts a research fel-

lows program aimed at broadening the pipeline of prospective

PhD students, with an emphasis on attracting students from

underrepresented groups. Finally, the GSB runs a number of

custom, open, online, and international executive education

programs. The GSB seeks to empower and engage its stu-

dents through excellence in teaching and research, and by le-

veraging education technology and global programs to reach

students worldwide, moving them to drive positive change.

Faculty Research and TeachingThe GSB is currently engaged in long-range planning comple-

menting that of the university and focused on two main topic

areas: the future of management education and research on

the advancement of management. Committees consisting

of faculty, staff, students, and alumni have been convened

to address these topics and will announce their findings and

recommendations in the coming months. The committee

addressing the future of management education is tasked

with envisioning the changes the GSB will need to make to

enable its management education programs to remain vital

and essential over the next decade. The committee address-

ing research on the advancement of management is focused

on the shift toward large-scale experiments and data-driven

research, as well as new topics of interest, including the ef-

fects that digital technology, automation, and globalization

are having on organizations, industries, and society.

A focus on research is already having an impact on the devel-

opment of curriculum for the GSB’s degree-granting and ex-

ecutive education programs. Faculty at the GSB are grappling

with coming technological advances, driven by developments

such as artificial intelligence, and bringing them into GSB

classrooms. For example, faculty are working on developing

new methods for machine learning, often with business ap-

plications, and studying threats and opportunities posed by

artificial intelligence. This research has led to the creation of

new elective and executive education courses, such as Big

Data, Strategic Decisions: Analysis to Action.

The GSB’s offerings of world-class teaching and research

continue to attract a strong pool of excellent candidates for

[IN MILLIONS OF DOLLARS] 2016/17 2017/18 2018/19 ACTUALS PROJECTION PLAN

Total Revenues 258.9 268.5 290.4

Expenses

Salaries and Benefits 148.3 154.9 168.8

Non-Salary 101.6 109.7 120.0

Total Expenses 249.9 264.6 288.8

Operating Results 8.9 4.0 1.6

Transfers From (to) Endowment & Other Assets 29.6 (1.9) (1.4)

Transfers From (to) Plant 0.0 0.0 0.0

Surplus / (Deficit) 38.5 2.0 0.2

Beginning Fund Balances 68.1 106.7 108.7

Ending Fund Balances 106.7 108.7 108.9

Schwab 4%

Endowment Payout 30%

Other 6%General

Funds24%Executive

Education25%

Gifts 11%

2018/19 Consolidated Revenues$290.4 Million

25ACADEMIC UNITS

its programs. For the MBA class of 2019, the GSB received

over 8,000 applications for 418 available spots. Of students

enrolled in that class, 40% are women, 41% are international

students (coming from 61 countries), and 29% are from un-

derrepresented groups.

Education TechnologyExpanding the reach of faculty research, as well as engaging

with students in workplaces around the globe in real time,

the GSB continues to build on the success of its online-based

certificate program. Its LEAD (Learn, Engage, Accelerate,

Disrupt) program dynamically connects GSB faculty teach-

ing and content to a global cohort of leaders, innovators, and

entrepreneurs. A LEAD certificate in personal leadership was

launched this year and joins the existing LEAD certificate in

corporate innovation, now in its third year and sixth cohort.

The GSB has also been experimenting with the application

of flipped classrooms to the core curriculum of the MBA

program. Data and Decisions debuted as a pilot flipped

classroom in 2016/17, with strong positive feedback, and

has now been converted to a foundation course for first-year

MBA students.

Global ImpactAs the GSB develops its long-term strategy regarding re-

search and teaching, it also continues to reach into inter-

national markets so that it can bring a range of insights to

its students, provide research opportunities for faculty, and

stay connected to dynamic trends in global business. The

Stanford Institute for Innovation in Developing Economies

(Seed) launched its third regional center in September 2017

in Chennai, India. This center joins existing regional centers

in West and East Africa; all are tasked with the mission of

enabling small and medium-sized businesses in developing

countries to grow, expand, and foster economic growth.

Seed also provides an opportunity for GSB and other Stanford

students to engage with the developing world through its

intern programs. Twenty-one Stanford student interns have

worked at Seed companies in Ghana, Cote d’Ivoire, Nigeria,

India, and Ethiopia.

The GSB’s global programs also provide opportunities for fur-

ther collaboration with other schools, departments, and units

at the university. Seed played an integral role in the launch

of Stanford’s interdisciplinary Center on Global Poverty and

Development in November 2017, a university-wide initiative

with over 100 affiliated university faculty.

CONSOLIDATED BUDGET OVERVIEW The GSB projects a 2018/19 consolidated budget with total

revenues and operating transfers of $290.4 million, expenses

of $288.8 million, and a net surplus of $200,000 after $1.4

million of transfers to endowment principal. In comparison,

a $2.0 million surplus is projected for 2017/18.

The GSB projects that revenues and transfers for 2018/19 will

increase by $21.9 million, or 8.2%, from the 2017/18 projec-

tion. Endowment income is expected to increase by $4.5

million due to investment gains and newly endowed gifts.

Gift revenue is planned to grow by roughly $700,000. The

GSB’s executive education unit is also contributing to revenue

growth, with projected revenue for 2018/19 growing by 14%,

or $9.5 million. This growth will be achieved through a new

online LEAD certificate program, the launching of a third co-

hort of the Stanford Executive Program due to high demand,

and other new face-to-face programs. Revenues from Seed

and GSB residences are expected to grow moderately.

Overall, the GSB projects a $24.2 million, or 9.1%, increase

in expenses in 2018/19. Compensation is projected to in-

crease primarily due to merit increases as well as a plan for

moderate growth in faculty. Non-compensation expenses

are projected to increase at a rate above pure inflationary

growth. The largest areas of expense growth within the

GSB are executive education, fellowship support, research

support, and facility refresh and renewal expenses, as well

as funds reserved to support long-range planning initiatives.

Executive education’s increased expenses are offset by its

increased revenue.

The GSB has been prudent in adding to its reserves as a

hedge against market volatility and as part of a deferred

maintenance plan for the Knight Management Center aca-

demic buildings and residences. As a result, fund balances in-

creased in 2016/17 producing a total beginning fund balance

of $106.7 million in 2017/18. Following an operating surplus

and planned transfers to endowment principal in 2017/18,

the GSB will continue to add to its reserves and projects an

ending fund balance of $108.7 million at year-end.

26 ACADEMIC UNITS

SCHOOL OF EARTH, ENERGY & ENVIRONMENTAL SCIENCES

PROGRAMMATIC DIRECTIONSThe School of Earth, Energy and Environmental Sciences

(Stanford Earth or SE3) welcomed Stephan Graham, professor

in geological sciences, as its new dean in the fall of 2017. He

has served as the school’s senior associate dean for academic

affairs for many years, and has been a key member of the

school’s leadership team since the late 1990s.

Stanford Earth’s mission is to create knowledge to understand

Earth and sustain its inhabitants. The school’s efforts in the

first full year under new leadership will focus on the following:

n Continuing to broaden its reach to undergraduates

n Improving support for graduate students and postdoctoral

scholars

n Supporting and expanding diversity and inclusion

n Rebuilding faculty strength in the face of many retirements

In addition, the school will have a strong focus on the uni-

versity’s long-range planning (LRP) efforts, partnering with

university leadership to explore significant ways Stanford

Earth can contribute to Stanford’s long-term vision.

Undergraduate EducationThe school will continue efforts begun several years ago

to increase its impact on Stanford’s undergraduates. The

Earth Systems bachelor of science and coterminal master

of science programs continue to thrive, as does the Stanford

O’Donohue Educational Farm, which now touches well over

a thousand undergrads each year through research, teach-

ing, and other activities. The new Sustainability Science

and Practice (SUST) coterminal master’s program and the

coterminal degree in environmental communication have

attracted a wider and more diverse group of undergrads, but

the school’s reach across the undergraduate population is still

relatively small. With a goal of reaching 80% of Stanford’s

undergrads—through majors, minors, field experiences, and

pop-up classes—the primary foci of 2018/19 will be three-

fold: pursuing the consolidation of three small, departmen-

tally based undergraduate majors into a schoolwide major;

expanding field education offerings; and improving support

for career exploration and job recruitment. Resources to ag-

gressively pursue these goals have come from leveraging a

staff retirement and a team restructuring that was supported

through reallocation of school funds.

Graduate Students and PostdocsThe restructuring mentioned above will also allow the

school to enhance support for its graduate and postdoctoral

communities through improved professional development

services (courses, workshops, career services), increased



Expenses


Non-Salary 16.7 18.6 18.7


Operating Results (1.1) (1.0) (2.6)

Transfers From (to) Endowment & Other Assets (1.4) 0.0 0.0


Surplus / (Deficit) (2.5) (0.5) (2.1)



SponsoredResearch

18% Endowment Payout

39%

Other 10%

Affiliates11%

General Funds19%

Gifts 3%


27ACADEMIC UNITS

opportunities for cross-disciplinary collaboration, and

improved mentoring, to name a few. Recent senior staff

changes enable SE3 to move on some of these needs right

away. However, the next year will provide time to experiment

with the most effective ways to provide these services, as well

as explore how the school can partner with the university on

similar efforts that emerge from Stanford’s long-range plan.

Diversity and InclusionStanford Earth established the Office of Multicultural Affairs

eight years ago. Through school, corporate, and university

support, the office has developed several programs that have

had a positive impact on diversifying the school’s student

population, improving faculty hiring practices, and develop-

ing a more inclusive environment in which all can thrive. The

school is committed to sustaining the progress made thus far

and will continue to seek external funding for these programs.

As resources become available, SE3 hopes to expand its

SURGE (Summer Undergraduate Research in Geoscience and

Engineering) program, which aims to increase diversity in the

geosciences and engineering by helping targeted undergradu-

ates acquire research experience and prepare competitive

graduate school applications. In addition, the school has

plans to establish a diversity postdoctoral scholars program

and will collaborate with university partners on making this a

reality over the next several years.

Faculty RecruitmentLike those at many of its peers, the demographics of Stanford

Earth’s faculty is heavily weighted toward individuals at or

nearing retirement. Since 2016, the school has seen five

retirements, and it expects at least five more by 2020.

Therefore, it has been actively recruiting new faculty who

bring new and exciting areas of climate, energy, and earth

sciences to the school, as well as strength to its core areas

of expertise. Under a university program that provides in-

cremental resources for diversity hires, Stanford Earth has

been very successful in increasing the number of women on

the faculty, and therefore has been able to increase its faculty

numbers overall. This amount of faculty hiring brings with it

significant pressure on school resources for start-up pack-

ages, lab renovations, and housing support. With the school’s

centrally held, unrestricted reserves being called upon to

mitigate the impact of very slow endowment income growth,

the additional expenses stemming from a high level of faculty

recruitment will require institutional support.

Long-Range PlanMany of Stanford Earth’s goals align well with themes

emerging from the LRP process. Sustainability is emerging

as a guiding principle for Stanford in the 21st century, and

this is a focus for much of the teaching and research done in

SE3. The school already offers students a broad and deep ex-

amination of the science of sustainability and climate change

and related matters that affect society, providing a very

strong platform for SE3 leadership in Stanford’s sustainability

efforts. Other areas of convergence between LRP goals and

SE3’s are improved support for graduate students and post-

doctoral scholars, as well as diversity and inclusion efforts

focused on graduate admissions, postdoctoral selection, and

faculty hiring.

CONSOLIDATED BUDGET OVERVIEWSE3 projects total revenues and operating transfers of $71.1

million in 2018/19, total expenses of $73.7 million, and a

resulting shortfall of $2.1 million following $500,000 in

transfers from assets. Compared with 2017/18 year-end pro-

jections, revenues and transfers are anticipated to increase

by $800,000, or 1.2%. Total expenses are anticipated to

increase by $2.4 million, or 3.4%. The projected shortfall is

the result of an imbalance between growth in revenues and

growth in expenses.

Endowment income, which makes up approximately 50%

of the school’s non-sponsored revenue, is expected to grow

modestly, and below cost rise. Designated revenue, com-

posed primarily of industrial affiliates program income, is pro-

jected to continue recovering from record lows experienced

in 2016/17. While the school is actively pursuing new gifts,

by conservative estimates gift revenue will remain at a level

closer to recent multiyear averages. Sponsored revenue is

expected to hold steady overall, with non-federal grants filling

the gaps left by a shortage of federal grants in some areas.

Of the $2.4 million anticipated growth in expenses, compen-

sation costs account for the majority, reflecting planned sal-

ary programs and additional costs stemming from new faculty

arrivals and related increase in graduate student headcount.

SE3 aims to address the anticipated operating shortfall with

active fundraising, using reserves in the meantime. In part-

nership with the Dean’s Office, departments and programs

will also draw on local reserves to respond to faculty and

student needs. If additional resources cannot be found to

bring revenues and expenses back into balance, cost-cutting

measures will have to be considered.

28 ACADEMIC UNITS

GRADUATE SCHOOL OF EDUCATION

PROGRAMMATIC DIRECTIONS

Long-Range Planning and New Initiatives During its centennial year of 2017/18, the Graduate School of

Education (GSE) engaged in an extensive planning exercise

that has resulted in a renewed vision and mission for the

future. The GSE envisions a world where all learners are pre-

pared to thrive in a dynamic future. The mission of the school

is to pursue the greatest challenges and most promising

opportunities—those where Stanford’s unique strengths can

ignite breakthroughs that will transform learning to produce

accessible, equitable, and effective education for all learners.

The school’s strategic priorities can be organized under three

broad headings:

1. Discovery, especially in emerging areas, such as neuro-

sciences, data sciences, and technology, that promise to

deepen our understanding of learning and of best prac-

tices in education.

2. Innovation in classroom practices, the design of curricula,

and the structure of educational organizations. Innovation

in education is especially needed to help prepare students

for a rapidly changing future and to assure that historically

underserved students reach their full potential.

3. Driving change by disseminating GSE research and en-

gaging with practitioners, policy makers, entrepreneurs,

philanthropists, and others who share a commitment to

education as a universal right and a foundational human

need.

These strategic themes will shape the GSE’s most important

programmatic initiatives in the coming years. Projects that

are under way or in the planning stages include the following:

n Learning Differences: As part of this initiative, the GSE

will build a new special education program.

n Race, Inequality & Language: The GSE launched this

new doctoral specialization to focus on students who face

systemic social and cultural challenges in schools. In its

first year, the program received the highest number of ap-

plications of all GSE programs and has attracted a highly

qualified and remarkably diverse cohort of students.

n Data Sciences: The GSE is exploring ways to incorporate

data sciences as a core research strength, a new training

program for students, and a collaboration with other

Stanford schools and departments.

n Teacher and Leadership Training: The Stanford Teacher

Education Program (STEP) is an international model for

teacher preparation. In an effort to help STEP alumni to

stay in the teaching profession, priority will be given to

identifying additional fellowship and public service loan

programs. In addition, the GSE is creating professional

development programs for alumni and practitioners. It is

also collaborating with the Graduate School of Business to



Expenses


Non-Salary 26.9 25.8 27.4


Operating Results 0.8 0.2 (0.4)

Transfers From (to) Endowment & Other Assets 0.4 (1.7) (1.7)


Surplus / (Deficit) 1.2 (1.5) (2.1)




SponsoredResearch

33%

Other 10%

General Funds27%

Gifts 13%


29ACADEMIC UNITS

create a new program in leadership and management for

school executives.

n Expanding Research Practice Partnerships: Building on a

successful and unique partnership with the San Francisco

Unified School District, the GSE has launched a second

research–practice collaboration with Sequoia High School

District and its primary feeder schools.

n A New GSE Campus: New facilities are needed to house

and support the GSE’s strategic initiatives.

n Sustained Excellence: As many as half of GSE faculty

will retire in the next decade, creating an opportunity and

challenge to find and develop new scholars and research

areas. To that end, the faculty will spend its spring retreat

prioritizing faculty search areas to align with the future foci

of the GSE.

Achievements and Program Continuation/Enhancements

Students

n The GSE has created a needs-considerate financial aid

program for master’s students in order to attract a more

diverse applicant pool and to partially compensate for

the reduction of federal loan programs. This program

is targeted to applicants from low-income families. In

2017/18, the GSE awarded 15 fellowships, and the yield

among these students was 13% higher than the overall

yield. The program has been expanded to include STEP.

n UP@GSE will coordinate undergraduate programs and

student activities throughout the school. These include

the honors and minor programs, research with GSE

faculty, education-focused undergraduate organizations,

residential education, and outreach for the nearly 2,000

undergraduates taking courses in the school.

n The faculty is deliberating a new doctoral admissions

process to provide more time for students to identify po-

tential advisors, and to uncouple the process from funding

sources.

Faculty

n A new faculty orientation process will provide more

resources and a more hands-on approach for new faculty

joining the GSE.

n The GSE launched a program to provide a small amount

of funding for research-related expenses to the active and

growing emeritus faculty, including funding for projects

with current students.

GSE-Wide Community and Alumni Initiatives

n The school has completed the programming and early

feasibility phases of planning for a new building, and it

continues short-term renovations to maximize use of

the current facilities. In 2018/19, the GSE will start the

schematic design phase of the building planning.

n The GSE has had very little organized programming for

alumni until recently. As part of a new alumni engage-

ment program, it held events last year in several U.S. cities

and in three cities in Asia. The GSE is expanding its alumni

communication efforts and building on successful pro-

grams such as the annual Alumni Achievement Awards.

CONSOLIDATED BUDGET OVERVIEWThe GSE projects a 2018/19 consolidated budget with total

revenues and operating transfers of $78.6 million. After

subtracting asset transfers, including a $1.7 million endow-

ment income transfer to student loan funds in support of

STEP students, the revenues and transfers total $76.9 mil-

lion. Projected expenses are $78.9 million, resulting in a

deficit of $400,000. This deficit is the result of increased

compensation in areas of strategic and planned initiatives

and operations. As part of the school’s strategic and long-

term planning, the GSE will draw on unrestricted reserves to

seed new initiatives and seek additional gifts and grants for

longer-term support.

Compared with the 2017/18 year-end projections, 2018/19

revenues and operating transfers will increase by $1.5 million,

or 1.9%, while expenses will increase by $2.0 million, or 2.6%.

Funding from federal sponsors continues to trend downward

in 2017/18, with a 2.6% decrease in the year-end projection;

a modest 1% increase is projected for 2018/19. Non-federal

grants and contracts had an unexpected increase in 2017/18

of 9.6%, or $1.7 million, and an increase of 2.9% is projected

in 2018/19. Sponsored research remains the largest funding

source for the GSE, at 33% of budgeted revenue. The GSE’s

planned use of accumulated reserve balances will provide

funding for strategic initiatives in 2018/19.

CAPITAL PLANThe schematic design phase of the new building planning

process will be completed in 2018/19 with architects William

Rawn Associates. The goal is to obtain site and concept ap-

proval from the Board of Trustees in 2018/19 and continue

the process through subsequent phases.

30 ACADEMIC UNITS

SCHOOL OF ENGINEERING

PROGRAMMATIC DIRECTIONSThe School of Engineering (SoE) is healthy, with advances in

all fields of engineering, from energy storage to applications

of artificial intelligence (AI), driving fundamental discoveries

and technology transfer as well as student enrollment and

faculty growth. The school continues to move forward with

plans developed through the SoE-Future strategic planning

process and looks forward to participating in initiatives that

will evolve out of university-level long-range planning (LRP).

The school is entering the second year of the pilot of the

Catalyst for Collaborative Engineering. This $12 million pilot

awarded grants to three multidisciplinary teams in the first

year and will award a new set of grants in the spring. The

SoE Catalyst program will be assessed after this second year,

but its goals and initial success are consistent with themes

emerging from the LRP. One of the first major grants awarded

went to the Microbial Culture Shift Team of researchers in-

volved in a new approach to fast, accurate pathogen diagno-

sis. Their research holds the promise of reducing health care

costs and improving millions of lives.

Data science and AI have received tremendous attention

recently from within the campus, in industry, and in society

at large. The school expects to bolster existing activities

in these areas, as well as drive initiatives across campus.

Significant data sciences and AI initiatives are expected to

emerge from the LRP, and preliminary exploration is under

way. Activities and initiatives will address such topics as

how data sciences and computation can accelerate discover-

ies in many fields (as articulated by SoE-Future) and how AI

impacts society and the human condition.

Undergraduate majors in the SoE share a long-standing

common set of basic requirements in math, science, and

engineering breadth, originating in part from ABET accredita-

tion. The SoE Undergraduate Council is currently discussing

proposals to modify these requirements, with an emphasis on

reducing the numbers of units required in the math and sci-

ence categories. While the outcome is yet to be determined,

the school’s reconsideration of legacy requirements has been

well received across campus.

One of the most powerful white papers to emerge from

SoE-Future was on the topic of diversity. The SoE is making

a dedicated effort to “up the game” on diversity at all levels

through steps such as hiring a new staff member to focus

specifically on student diversity. A recent policy of additional

billets for diverse faculty hires has led to notable improve-

ments (including 35% female hires over the past two years),

and the school will continue that policy to the extent pos-

sible. Initiatives in graduate student admissions have led to



Expenses


Non-Salary 157.9 162.4 166.0



Transfers From (to) Endowment &

Other Assets (15.5) (16.2) (5.2)

Transfers From (to) Plant 0.0 (8.6) (3.0)

Surplus / (Deficit) 20.4 16.7 (8.8)



Endowment Payout

16%

SponsoredResearch

34%

Affiliates 6%Auxiliary Income 1%

Other 11%General Funds

22%

Gifts 10%


31ACADEMIC UNITS

significant improvement in the gender diversity of incoming

graduate students (raising the percentage of women to 37%

from the historical level of 25%-28%). The school aspires to

similar improvements in percentages of underrepresented

minorities among graduate students and faculty.

Two loosely related areas very important to the school are

student maker spaces and shared experimental facilities; both

need significant expansion and modernization in the relatively

near future. Most of the school’s student maker spaces and

programs, including the Product Realization Lab (PRL), are

run at the departmental level. The building and sustaining

of these programs would benefit from a more coordinated

approach. Similarly, in research, the tools and equipment

required to advance the frontiers of knowledge are becoming

more complex and expensive, and the variety of equipment

any one investigator might need drives the need for shared

services and facilities. Several individuals and groups have

been studying the future of shared experimental facilities;

it is likely a future initiative would involve multiple schools.

The school remains financially sound but is experiencing

inflationary pressure on many core expenses without cor-

responding increases in revenues. Despite targeted salary

increases for midcareer and computational faculty, the school

continues to face very significant challenges in faculty hiring

and retention, with most of the concern around base salaries

and the overall cost of living in the Bay Area. The costs of

start-up packages and construction for lab build-outs also

continue to escalate. Endowed professorships and a suite

of general-purpose endowments are the revenue sources for

many of these expenses, so the school is highly dependent on

endowment performance to keep up with these rising costs.

CONSOLIDATED BUDGET OVERVIEWThe SoE projects a 2018/19 consolidated budget with total

revenues and operating transfers of $430.5 million and

expenses of $431.1 million. Transfers to assets for locally

funded capital projects and transfers to other assets will add

$8.2 million. Compared with 2017/18 year-end projections,

2018/19 revenues will decrease 5.3% and expenses will

increase 4.3%. This reflects $30 million in one-time gifts in

2017/18 with associated spending that will begin in 2018/19.

Sponsored research remains the largest single component of

SoE finances, at approximately 35% of revenue; however, this

proportion has been shrinking steadily over the last few years.

Federal and non-federal grants are projected to remain flat.

The overall school reserve position is strong, but the funds are

asymmetrically distributed among faculty, departments, and

the school. Of the total reserves, individual faculty and labo-

ratory groups control 82% ($109 million) of designated fund

balances and 91% ($118 million) of expendable gift balances,

most of which are earmarked for research. The majority of

reserves controlled by the school are restricted to faculty and

student support, so the dean does not have much financial

flexibility to support new initiatives and meet the rising costs

of outfitting new research space.

CAPITAL PLAN For 2018/19, the SoE was allocated $4 million in facilities

reserve funding to renovate labs for new faculty housed in

several engineering buildings. As construction of the Neuro/

ChEM-H (Chemistry, Engineering & Medicine for Human

Health) Research Complex progresses, the SoE is providing

additional funding to outfit individual labs for engineering

faculty in both institutes.

There are several studies in the Engineering capital plan, ad-

dressing issues such as near-term and longer-term renova-

tions to the Gates Building and exploration of options for the

PRL. However, the SoE does not plan any action on the PRL

until university long-range planning is more fully developed,

as there may be university-wide action on student maker

spaces.

The school’s main focus is on the programming study for

Bridge Building jointly developed by the SoE and the School

of Humanities and Sciences (H&S). This building will house

some faculty from the Department of Computer Science and

the Department of Statistics, who will pursue the areas of

data science and AI broadly with many disciplines in H&S.

The building is currently envisioned to house centers or insti-

tutes in these areas of study along with the Brown Institute

for Media Innovation. The target completion date for the

study is late spring 2018.

32 ACADEMIC UNITS

SCHOOL OF HUMANITIES AND SCIENCES

PROGRAMMATIC DIRECTIONSThe School of Humanities and Sciences (H&S) continues

to maintain a position of academic strength, with invest-

ments focused on its core activities, while also partnering

in university initiatives such as the Neurosciences/ChEM-H

(Chemistry, Engineering & Medicine for Human Health)

Research Complex. In the upcoming academic year, H&S

will undergo a change in leadership. Richard Saller’s decade

as dean of H&S has been marked by a broad strengthening of

the school’s faculty, large-scale renewal of the physical plant,

and reestablishment of financial stability.

H&S grew its faculty 10% between 2010 and 2014, replacing

losses experienced after the economic recession. For the

past three years, hiring has been at replacement rate, but

large faculty start-up costs from the hiring surge continue

to impact H&S’s budget, creating a somewhat constrained

financial environment. The school intends to continue hiring

at replacement rate for the foreseeable future, with any ad-

ditional growth targeted toward new university initiatives and

enhanced faculty diversity.

Facilities growth and renewal continue as the school imple-

ments a large multiyear plan. During the past decade, the

Arts District was established through the Bing Concert Hall,

Anderson Collection, McMurtry Art and Art History, and

Roble Gym building projects. Natural science facilities are

also undergoing large-scale renewal with development of the

Sapp Center for Science Teaching and Learning, construction

of the Bass Biology Building, and investments in ChEM-H and

Neurosciences facilities. Science facility renewal will continue

for several more years as aging Chemistry Department build-

ings are replaced.

H&S contributions to these construction projects, along

with investments in new faculty research support, have sig-

nificantly reduced Dean’s Office reserves. Replacement-rate

hiring has moved the school toward financial equilibrium,

and H&S is working to reestablish an annual net surplus in

the operating budget to position the school to participate in

future university initiatives and building construction projects.

The school remains concerned about undergraduate interests

shifting away from the humanities, arts, and social sciences.

More than a dozen initiatives have been launched in the

humanities, and undergraduate majors have increased 7%

over the past four years. Similar initiatives are being devel-

oped in the social sciences. The numbers of majors, along

with enrollment numbers, in both clusters will be closely

monitored going forward. Funding for doctoral students is

also under analysis.



Expenses


Non-Salary 157.5 163.8 168.1



Transfers From (to) Endowment & Other Assets (22.0) (5.8) (4.5)





Endowment Payout

32%

SponsoredResearch

18%

Other 7%General Funds

39%

Gifts 3%


Auxiliary Income1%

33ACADEMIC UNITS

CONSOLIDATED BUDGET OVERVIEWFor 2018/19, H&S projects revenues and operating transfers

of $521.8 million and expenses of $508.4 million, resulting in

an operating surplus of $13.4 million. After $13.1 million of

net transfers to assets, the school projects an increase in con-

solidated fund balances of $300,000, with an ending balance

of $281.9 million. Dean’s Office fund balances are projected

to decrease mainly due to spending reserves on large capital

projects. Fund balance growth in department-, program-, and

faculty-controlled awards offsets this decrease.

For the third consecutive year, endowment payout growth

will be less than inflation growth in expenses. H&S is highly

dependent upon endowment to fund core operations—par-

ticularly faculty salaries and graduate student support. With

30% of the school’s consolidated funding coming from

endowment, these shortfalls have a significant impact on

finances. The $3.7 million shortfall in 2016/17 was addressed

through funding reductions to graduate aid, elimination of

nonessential expenditures, and use of departmental reserves.

The $2.4 million shortfall in 2017/18 was partially mitigated

by provostial funding, with the remainder addressed by

funding reductions. The 2018/19 endowment shortfall is

projected to be $500,000, and H&S has not budgeted for a

third year of funding reductions, in the hope that endowment

growth will offset this gap in future years. Recent projections

of low growth in endowment payout and continued gaps in

2019/20 and 2020/21, however, raise concerns that addi-

tional funding reductions may be necessary.

Dean’s Office unrestricted reserves have declined from a high

of $74 million in 2010/11 to $30 million at the end of 2016/17.

Reserves have contributed to funding several large construc-

tion projects, including the McMurtry Art and Art History and

Bass Biology buildings, along with the post-recession faculty

hiring surge. A small continued net use of reserves is pro-

jected for the next few years, gradually diminishing as lower

costs associated with replacement-rate hiring take effect.

Department- and program-controlled balances are growing,

but the aggregate trend overshadows the fact that most units

are in relative equilibrium. A smaller number of units saw

large balance growth, with some receiving large one-time

gifts, while others experienced savings from variances in

incoming graduate student cohort size. The Dean’s Office is

initiating several projects to better understand departmental

approaches for projecting restricted balances and reserves,

with a goal of having departments develop more strategic and

data-driven approaches for managing fund balances.

Faculty-controlled balances have also grown during the past

five years, primarily as a result of the post-recession hir-

ing surge and large start-up packages for a few key faculty.

Balance growth is projected to slow as replacement-rate hir-

ing continues in H&S.

Sponsored research volume was quite erratic between

2011/12 and 2015/16. Volume has been less volatile since

then, and current projections indicate 2018/19 growth equal

to the rate of inflation, in line with university-wide sponsored

research trends. In addition to impacting direct research ex-

penditures, changes in sponsored research volume also shift

faculty summer salary and graduate student support to/from

department, program and faculty-controlled funding sources.

CAPITAL PLANH&S manages a large capital plan focused on the develop-

ment of the new science quad, renewal of performance

spaces, and research lab modifications for new faculty.

Occupancy of the Bass Biology Building will occur in fall

2018, triggering faculty moves from the Mudd Chemistry

Building into renovated spaces in the Keck Science and Lorry

Lokey Laboratory buildings. In preparation for the demoli-

tion of Herrin Hall, development and renewal of the Stock

Farm Greenhouse Facility and modifications to lab space in

the Gilbert Biology Building are under way to support plant

biology research. H&S’s capital plan commitments extend

to the Neuro/ChEM-H Research Complex and the Encina

Complex Upgrade Project; construction of both is expected

to be complete in mid-2019.

34 ACADEMIC UNITS

SCHOOL OF LAW

PROGRAMMATIC DIRECTIONSOver the past year, Stanford Law School (SLS) has main-

tained its position at the very top of national law school

rankings—along with Harvard and Yale. This success is due

to the strength of the school’s faculty and students, which

results from the high priority placed on the continued influx

of these talented individuals. Innovations in the curriculum

have been made to meet the demands of a rapidly chang-

ing legal profession and to better prepare students for their

professional futures.

There are exciting changes occurring in the study and practice

of law, and SLS is in the enviable position of having exception-

al faculty who are passionate about bringing these new areas

of legal thought into classrooms, the legal academy, and the

legal profession. However, the school is in the midst of a gen-

erational shift in faculty; 23 of 48 tenured research faculty will

be 59 or older in 2018. In anticipation of future retirements,

SLS leadership has focused on retaining, recruiting, and hir-

ing the very best faculty across all ranks and working hard

to establish a pipeline of new faculty, who will in many ways

shape the future of the law school and its national reputation.

This year the school is focused on strengthening a variety of

academic programs. By expanding curriculum offerings in

the areas of public service, policy work, global legal practice,

and legal technology, SLS is able to address relevant and im-

portant topics of interest to law students, as well as to better

prepare graduates for a changing professional landscape.

The law school’s efforts in policy on multiple fronts have

been another focus this year. One of the newer experiential

learning programs, the Law and Policy Lab, has offered 81

small-group practicums since its inception. These practicums

match experienced faculty and student teams with actual

clients—many from federal, state, or local government. These

teams are tackling real-world challenges in areas such as tax

code reform, childhood obesity, and the legalization of mari-

juana, and provide students with an invaluable educational

experience.

After five years of the policy lab practicum program, several

of the faculty involved have been discussing the possibility of

more systematically offering policy analytic skills to the stu-

dents who have interest in policy-relevant classes. Student

interest in policy labs also leads to questions about how best

to serve students interested in pursuing policy careers.

The global initiative, now in its fourth year, exposes students

to transnational issues across substantive areas of the



Expenses


Non-Salary 23.8 25.4 26.3





Surplus / (Deficit) 2.0 (11.5) 0.2



Endowment Payout

45%

Sponsored Research 2%

Executive Education 4% General Funds36%

Gifts 13%


35ACADEMIC UNITS

law. Over the past two years, the school has improved and

expanded the program by allocating additional staff and

faculty to help create the curriculum and teach the classes.

In addition to the on-campus classes, there are global study

classes held in part overseas: last year students traveled

with faculty members to China, India, and the Netherlands,

and this year there are courses in China, Hong Kong, India,

Austria, and Japan.

SLS is also exploring changes in technology—data analytics,

machine learning—and how these changes are altering legal

decision making and how students should be taught. A par-

ticular focus is on the changes in the delivery of legal services

and the practice of law. Like policy, this is a topic that many

faculty think about when engaged in research, teaching, and

other activities. The school is in the process of determining

whether the appropriate courses are currently being offered

and whether there are beneficial opportunities for faculty who

want to pursue these topics in their teaching and research.

The caliber, diversity, and varied professional interests of law

students are important factors in keeping SLS at the top of the

national rankings. Many other schools are trying to compete

for the same high-caliber students, and they have done so

by bolstering scholarship awards and providing significant

numbers of merit scholarships at significant dollar levels.

SLS continues to provide only need-based financial aid,

and it continues to make fundraising for financial aid a high

priority. The school’s generous Loan Repayment Assistance

Program (LRAP) also ensures that graduates who wish to do

so can pursue careers in the public service and public inter-

est sectors.

CONSOLIDATED BUDGET OVERVIEWThe 2018/19 consolidated budget comprises total revenues

and operating transfers of $101.4 million, expenses of $94.9

million, and transfers to assets of $6.4 million. SLS there-

fore projects an increase in expendable fund balances of

roughly $100,000. Transfers to assets comprise $3.6 mil-

lion transferred to student loan to provide funding for LRAP,

$600,000 transferred to plant for the continuation of the

Crown Quadrangle renovation project, and $2.2 million of

endowment income reinvested into funds functioning as

endowment (FFE).

Consolidated revenue, exclusive of operating transfers, is

estimated to increase 3% to $66.3 million. After expansion

of executive education programs in recent years, designated

income ($5.1 million) will be more consistent. Expendable

gifts are projected to grow 2% to $13.1 million. As a result of

new gifts to endowment and prior-year FFE investments, en-

dowment income should rise 4% to $45.5 million. Sponsored

research remains steady and will generate $2.2 million; half of

this total is for the U.S. Department of State grant to support

the Afghanistan Legal Education Project.

Total consolidated expenses are anticipated to grow more

than 6.2% to $94.9 million. A portion of this growth is at-

tributed to ongoing faculty recruitment and retention efforts.

Additionally, as the law curriculum evolves, there will be other

new expenses associated with the Mills Legal Clinic and the

global initiative program. Lastly, both Law School Student

Affairs and Admissions & Financial Aid will receive new re-

sources for diversity and inclusion staffing and programming.

The aforementioned activities will contribute to an increase

in compensation of over 7% to $68.6 million. The largest

compensation group, academic salaries, will grow to $36.6

million. Non-compensation expenses will rise almost 4% to

$26.3 million, increasing at similar rates in both internal and

external categories.

SLS consolidated expendable fund balances will increase by

roughly $100,000 to $25.3 million. Of this amount, $12.9

million is unavailable; it is in noncash investments in the Law

School Venture Fund and housing loans. The remaining $12.4

million is available. It consists of $11.6 million for restricted

purposes, such as academic programs and centers and finan-

cial aid, and $800,000 for unrestricted purposes.

36 ACADEMIC UNITS

SCHOOL OF MEDICINE

PROGRAMMATIC DIRECTIONSThe School of Medicine is an academic medical center that,

combined with Stanford Health Care and Lucile Packard

Children’s Hospital Stanford | Stanford Children’s Health,

is known as Stanford Medicine. Its mission is tripartite: to

improve human health locally and globally through innova-

tive discovery and the translation of new knowledge; to serve

the community by providing outstanding and compassionate

care; and to inspire and prepare the future leaders of science

and medicine. Stanford Medicine’s vision is bold: to lead the

biomedical revolution in precision health. A fundamental

shift from reactive medicine to proactive and personalized

health care, precision health is made possible by revolutions

in genomics, data, and technology. The goal of precision

health is to predict, prevent, and cure—precisely.

Stanford Medicine is at the final stage of the integrated stra-

tegic planning process to develop an overarching plan that is

inclusive of its research, education, and patient care missions.

The process began with a thorough diagnostic assessment of

Stanford Medicine’s organizational culture, capabilities, and

performance. Thirteen cross-organizational workgroups in-

corporated the perspective of every clinical and basic science

department and both health care delivery systems, based on

input from thousands of surveys and interviews.

Three integrated strategic priorities have emerged from

this planning process: Value Focused, Digitally Driven, and

Uniquely Stanford. As health care costs continue to rise,

Stanford Medicine is focused on the value equation—excel-

ling at quality while driving down cost. With its long history

of technological innovation, Stanford Medicine is in an unpar-

alleled position to lead health care in the digital age. Finally,

Stanford Medicine is committed to continuing to partner with

the university at every opportunity, embracing the distinctive

Stanford culture that emphasizes collaboration across disci-

plines and schools.

This planning process is complementary to the university’s

long-range planning process and aligned with its emerging

priorities. Stanford Medicine’s plan will not be final until it is

presented to the Stanford University Board of Trustees in June

2018. Even after that, it will be regularly updated to reflect

new opportunities and challenges. An annual working plan

will outline deliverables and measurable gauges of success.

The school has successfully increased its research fund-

ing. In 2017 it earned the number three spot in terms of

total National Institutes of Health (NIH) funding to schools

of medicine (though effective levels of NIH funding have

decreased over the last decade). Stanford Medicine also

launched Project Baseline, a collaboration with Verily, Google,

and Duke University to conduct a longitudinal observational


Total Revenues 2,244.4 2,408.3 2,527.5

Expenses

Salaries and Benefits 1,338.3 1,446.0 1,575.0

Non-Salary 789.4 837.4 892.6

Total Expenses 2,127.7 2,283.4 2,467.6


Transfers From (to) Endowment & Other Assets 1.1 17.1 12.7

Transfers From (to) Plant 0.0 (21.5) 8.3

Surplus / (Deficit) 117.8 120.6 80.8

Beginning Fund Balances 1,119.3 1,237.1 1,357.7

Ending Fund Balances 1,237.1 1,357.7 1,438.5

Endowment Payout

7%

SponsoredResearch

28%

Designated Clinic42%

Auxiliary Income 2%

Other 11%General Funds 5%

Gifts 5%

2018/19 Consolidated Revenues$2,527.5 Million

37ACADEMIC UNITS

study involving 10,000 participants, and the Apple Heart

Study to determine whether the Apple Watch’s heart rate

sensor can identify irregular heart rhythms. Through the

newly opened Laboratory for Cell and Gene Medicine, de-

signed to accelerate the development of cell and gene thera-

pies, the school has increased research competitiveness in

new areas.

Last fall, the School of Medicine began implementing a new

MD program curriculum, which strengthens educational

experiences in the basic sciences and gives students an op-

tion to take the pre-clerkship curriculum over three years

to enable time for in-depth scholarship. The school also

launched a new physician assistant master’s program with

an inaugural class of 27 students. For PhD students, the

school established Foundations in Experimental Biology, a

unique multidisciplinary course for incoming students, and

minicourses that allow students and postdocs to tailor their

education across disciplines.

Diversity continues to be a key priority, and the school has

engaged in a wide range of inclusion initiatives, including

the opening of the Diversity Center of Representation and

Empowerment last fall. With the help of expanded program-

ming, outreach, and scholarships, the 2017/18 PhD and MD

entering classes included 22% and 26% underrepresented

minorities, respectively. In 2017, Stanford Medicine became

the first academic medical center in the United States to have

a chief wellness officer, an important milestone in the national

effort to address physician burnout.

CONSOLIDATED BUDGET OVERVIEWThe school projects total revenues and transfers of $2,527.5

million in 2018/19 and expenses of $2,467.6 million, yield-

ing an operating surplus of $59.8 million. A contribution of

$21.0 million as transfer from plant and other assets increases

the net change in current funds to $80.8 million. Offsetting

growth in health care services, tuition, and sponsored re-

search is an expected decline in gift revenue, driven by receipt

of a large one-time gift in 2017/18.

Total revenues and transfers are projected to increase by

4.9%, or $119.1 million, in 2018/19. Key drivers include the

following:

n Renewed funds flow agreements with the hospitals will

contribute growth of 7.6%, or $84.3 million, in health

care services revenue that will reach $1,200.1 million in

2018/19. This growth is driven by increases in clinical

program activities and incremental faculty and clinicians.

n Tuition revenue is expected to grow 8.3%, primarily from

the new physician assistant master’s program introduced

in 2017/18.

n Federal and non-federal sponsored research revenue is

projected to grow 3.3%, mainly driven by new faculty

hires.

Expenses are projected to increase by 8.1%, or $184.2 million,

in 2018/19. Major areas of increase are the following:

n The school projects net recruitment of 34 faculty, 20 in the

Medical Center line and 14 in the university tenure line. In

addition, it anticipates adding 80 clinician educators for

2018/19.

n Total compensation for faculty, clinicians, and staff is

expected to increase 8.9% in 2018/19. The main driv-

ers are increases in clinical activity growth, incremental

recruitment, and the annual salary program.

n Projected growth in sponsored research and health care

services revenue will drive related non-compensation

expenses higher in 2018/19. Rent expenses are expected

to increase with the move of administrative functions to

Redwood City and new Research Park leases.

Transfers to plant of $5.6 million for renovation of research

park spaces will be offset by return of $13.9 million from com-

pleted capital projects and bridged funds on the Lorry I. Lokey

Stem Cell Research Building. An additional $12.7 million will

be transferred from pending to current gifts.

CAPITAL PLANThe school’s capital plan for 2018/19 includes ongoing work

on the Center for Academic Medicine I and the BioMedical

Innovation Building, construction on both of which began in

2017/18. They are on schedule to be completed in 2020 and

on budget at $222 million and $210 million, respectively.

Additionally, the capital plan includes renovation and tenant

improvements for new wet and dry lab research spaces in

Stanford Research Park. The lease of 1701 Page Mill Road

will increase the school’s wet lab research space by 116,000

square feet. This $24 million wet lab renovation project is

planned to begin in 2018, with occupancy projected for 2019.

Pending the identification of a specific location, feasibility,

engineering, and design studies for the dry lab research space

will begin in 2018/19, with construction planned for 2020.

The total project cost is estimated to be $10 million.

38 ACADEMIC UNITS

VICE PROVOST AND DEAN OF RESEARCH

The Office of the Vice Provost and Dean of Research (DoR)

is responsible for facilitation of faculty research and scholar-

ship across all of the schools and departments and serves

as cognizant dean for the 18 university-wide independent

laboratories, institutes, and centers. These organizations

provide intellectual and physical environments for research

that invite scientific and scholarly dialogue, facilitate interdis-

ciplinary collaborations, support policy-relevant research, and

increase the success of faculty in obtaining research funding.

The office has oversight of the implementation of research

policies and manages the compliance and administrative of-

fices that support research. DoR also oversees major shared

facilities that support a broad range of research and scholarly

activities.

PROGRAMMATIC DIRECTIONSThrough all of its activities, DoR seeks to support faculty

competitiveness in research and scholarship. This is par-

ticularly important as obtaining extramural funding becomes

increasingly challenging. DoR will pursue this goal through

the following four program objectives in 2018/19:

n Creating opportunities for interdisciplinary research

through the independent laboratories, institutes, and

centers;

n Providing state-of-the-art shared facilities;

n Minimizing compliance and administration burdens for

faculty and staff; and

n Mitigating research-related safety risks.

The Woods Institute for the Environment (Woods) is

launching a major new multidisciplinary initiative on climate

change that will include other Stanford institutes, schools,

and departments, as well as organizations beyond Stanford.

Effectively addressing climate change through both adapta-

tion and mitigation requires an unparalleled level of systems

thinking. The focus will be on workshops about the relation-

ship between climate change adaptation and infrastructure

development, environmental impacts of sustainable energy

expansion, and the role of international development assis-

tance in climate change mitigation.

The Freeman Spogli Institute for International Studies (FSI)

plans initiatives related to the Middle East; global health,

governance, and security; governing the global economy;

European security; biosecurity; and U.S.–Asia security,

and seeks to increase its impact in the public policy arena

through its International Policy Outreach Lab. New education

programs will make more use of case studies, place greater

emphasis on technology, and introduce new specializations

(e.g., cyber policy).

[[IN MILLIONS OF DOLLARS] 2016/17 2017/18 2018/19 ACTUALS PROJECTION PLAN


Expenses


Non-Salary 98.9 97.3 96.5





Surplus / (Deficit) 34.8 18.6 (2.0)




SponsoredResearch

31%

Other 7% General Funds25%

Gifts 14%


Auxiliary Income 3%Affiliates 2%

39ACADEMIC UNITS

New programs in the Stanford Institute on Economic Policy

Research are designed to deepen the understanding of

pressing economic challenges and opportunities in the

United States and globally, and increase student interest in

economic policy and public service to create a pipeline of

thought leaders.

Bio-X, ChEM-H (Chemistry, Engineering & Medicine for

Human Health), and the Stanford Neurosciences Institute

(SNI) are collaborating to optimize opportunities for research

and education in the life sciences. SNI and ChEM-H are

jointly planning knowledge centers and community labs that

will benefit life sciences researchers and students broadly.

The independent labs and institutes that focus on the physical

sciences are developing new programs in advanced imaging

to leverage the Stanford–SLAC relationship and attract and

support the most talented postdoctoral fellows.

CONSOLIDATED BUDGET OVERVIEWDoR projects a 2018/19 consolidated budget with total rev-

enues and operating transfers of $228.6 million and expenses

of $237.6 million, resulting in a net deficit of $9 million. After

transfers to assets of $7 million, the net change in current

funds is a deficit of $2.0 million. Compared with 2017/18

year-end projections, 2018/19 revenues will decrease 5.4%

and expenses will increase 2.8%.

Total revenues and transfers are projected to decrease by

5.4%, or $13.1 million. This is primarily due to the reduction in

projected gift and sponsored funding sources. Gift revenue is

projected based on known development initiatives and trend

analysis. DoR has benefited from large unanticipated gifts,

though it projects gift revenue conservatively, thus resulting

in a planned decrease of 17%, or $6.7 million. Sponsored

revenue is projected to decrease by 12%, or $9.5 million.

Federal sponsored funding is expected to increase by 5%, or

$2.2 million. Non-federal funding is projected to decrease by

36%, or $11.8 million. This reduction is primarily due to the

fact that a variety of programs and projects are coming to

an end in 2018/19, including the Global Climate and Energy

Project and the Beamline at SLAC. Several units, such as FSI

and Woods, have also experienced a slow ramp-up of non–

federally funded projects.

The overall DoR reserve position is strong; however, funds

are restricted to the control of faculty and departments.

Of the total reserves, 84% ($165 million) are controlled by

faculty and department programs, and all of these funds are

earmarked for research.

CAPITAL PLAN To preserve the historic architecture of the Encina Complex

and improve its functionality as a university-wide hub for

international studies, renovations are currently under way to

convert major portions of Encina Hall and Commons from ad-

ministrative use to academic use. Once completed, Encina’s

physical space will promote greater collaboration among fac-

ulty and students; provide more teaching facilities; and create

dynamic relationships across social science, area studies, and

policy research. The reconfigured space will also improve

spatial flow and access throughout the entire complex while

maintaining its character-defining features.

The project will seismically upgrade Encina Commons,

convert approximately 16,000 square feet of administrative

space for academic use, and renovate the courtyard between

Encina Hall and the Commons. An outdated kitchen in

Encina Commons will be demolished, allowing for a generous

garden courtyard and patio area. The new courtyard, with

its landscape, hardscape, and water feature, will become

the new outdoor gathering space for daily use as well as for

outdoor receptions, ceremonies, and informal gatherings.

The redesigned outdoor space will also inspire interaction

between FSI and Humanities and Sciences, as well as facili-

tate interdisciplinary classes and create room for a new Policy

Implementation Lab to help students and research practitio-

ners put their ideas into practice. The project will cost $25.8

million and is scheduled to be completed in mid-2019/20.

40 ACADEMIC UNITS

VICE PROVOST FOR UNDERGRADUATE EDUCATION

PROGRAMMATIC DIRECTIONSThe Office of the Vice Provost for Undergraduate Education

(VPUE) serves as the nexus for key programs and initiatives

that meaningfully engage all 7,000 undergraduate students

over the course of their Stanford careers. Working in col-

laboration with faculty, schools, and departments across the

university, VPUE advocates for a preeminent undergraduate

experience; facilitates students’ acclimation to the college

environment; helps undergraduates explore, define, and

achieve their intellectual ambitions; and encourages their

development into confident, creative, and engaged leaders.

Over the past year, VPUE has continued to foster student suc-

cess and well-being by making substantial progress in three

main focus areas:

n Building strong academic foundations with general

education courses and signature ongoing programs that

help students develop the skills needed for a successful

academic career. These programs include the Program

in Writing and Rhetoric, Thinking Matters, Ways of

Thinking/Ways of Doing, Education as Self Fashioning,

Immersion in the Arts: Living in Culture, and Structured

Liberal Education.

n Providing targeted opportunities that inspire students to

explore their intellectual interests and to discover their

academic passions. In 2017/18, Stanford Introductory

Seminars offered over 200 faculty-led seminars spanning

all seven schools, each course capped at 16 undergraduate

students. This past summer, 375 students participated in

one of VPUE’s three-week, on-campus intensive learning

experiences: Sophomore College, Arts Intensive, and Bing

Honors College. Approximately 1,000 students each year

receive support through one of VPUE’s undergraduate

research grant programs, facilitating student participation

in faculty-designed or independent research.

n Encouraging learning through experience and reflection by

providing opportunities for students to apply classroom

learning to real-world situations as they engage in hands-

on practice. Long considered one of VPUE’s flagship

experiential learning programs, the Bing Overseas Studies

Program (BOSP) provides roughly 900 undergraduate stu-

dents each year with transformative, culturally immersive

learning opportunities overseas. This past year also saw

Stanford in New York (SiNY) enter the third year of its

pilot phase. SiNY offered its first spring quarter and, as a

result, expanded to a full, academic year–long experiential

program, offering 20 students per quarter the opportunity

to study and do internships in one of the world’s most

iconic cities. VPUE, in partnership with the Haas Center

for Public Service (Haas) and the deans of Stanford Earth,



Expenses


Non-Salary 26.4 24.8 26.0


Operating Results (2.8) 0.0 (1.8)



Surplus / (Deficit) (2.6) 0.2 (1.7)



Endowment Payout

50%

Other 5%Auxiliary Income

6%General Funds

36%

Gifts 3%


Revenues and expenses in this chart and table include $16.5 million of activity that is accounted for as operating transfers in Appendix A.

41ACADEMIC UNITS

School of Engineering, and School of Humanities and

Sciences, will continue the initiative to add directors of

community engaged learning, which has significantly

enhanced the quantity and quality of service-learning

courses offered across the campus. VPUE will receive

incremental base general funds in 2018/19 to support this

initiative. Combined with continued funding from other

school deans and Haas, VPUE hopes to have the resources

to maintain this program at a robust level.

Looking ahead, VPUE has identified two additional areas of

focus for 2018/19:

n Providing enhanced guidance and support to specific,

vulnerable student populations, and

n Assisting all students in organizing academic choice and

discovering purposeful pathways.

VPUE’s annual student assessments, in conjunction with

those of Institutional Research and Decision Support, have

shown that, by focusing on these two areas, it will support

needs that cut across Stanford’s diverse and evolving student

population. In recent surveys, Stanford students report high

levels of stress and uneven feelings of belonging, with first-

generation, low-income (FLI) students reporting higher levels

of stress than their continuing-generation peers. Studies

show that targeted interventions such as the Leland Scholars

Program (LSP), now in its seventh year, can be beneficial in

mitigating these concerns. In 2018/19, VPUE will undertake

coordinated efforts to elevate and enhance LSP—the four-

week, community-building summer bridge program that

provides 60 first-year students from underresourced high

schools with introductory academic work in chemistry, writ-

ing, and oral communication immediately prior to their frosh

year. As another approach to student well-being, in 2017/18

VPUE launched a pilot residential seminar program, Frosh

101, with 100 students to address issues of belonging, com-

munity, and identity. Next year, the program will expand to

some 300 students.

In addition, VPUE seeks strategically to engage in thought-

ful and deliberate reimagining of undergraduate advising.

This effort will include building stronger collaborations

with campus partners and identifying how to make the best

use of new online tools such as Carta, without discounting

the undeniable benefit students receive from in-person,

sustained engagement with highly trained academic advisors.

During 2018/19, VPUE will add another professional advisor.

Funded by VPUE, this advisor will enhance the capacity of

Undergraduate Advising and Research to provide dedicated

support to students from underresourced high schools.

CONSOLIDATED BUDGET OVERVIEWVPUE projects a 2018/19 consolidated budget with total rev-

enues and operating transfers of $64.6 million, total expenses

of $66.4 million, and total transfers from assets of $124,000,

yielding an overall deficit of $1.7 million.

Approximately half of the projected deficit is attributable to

disadvantageous foreign currency exchange rates. Given the

size of BOSP’s operations, VPUE’s budget has, at times, ben-

efited from a strong U.S. dollar; at other times, the budget has

been negatively impacted. VPUE has maintained a currency

reserve fund precisely for this contingency, and in 2018/19,

VPUE will be drawing down on those reserves.

Another significant source of the 2018/19 deficit relates to a

$1.5 million decrease in one-time provostial and presidential

funding as commitments supporting the pilot SiNY program,

LSP, and a co-term advising position come to an end. VPUE

has been rigorously assessing these pilots and is actively

seeking ongoing donor support for those initiatives that have

proven to be particularly effective. Development efforts to

date have been promising, and VPUE is optimistic that such

efforts will yield incremental, sustainable revenues that will

mitigate any future-year deficits.

Outside of standard cost rise and the incremental academic

advisor FTE referenced above, 2018/19 is expected to be a

year of minimal programmatic growth, with more organiza-

tional focus on strengthening and sustaining base programs.

VPUE anticipates ending 2018/19 with an overall fund bal-

ance of $20.5 million. A steady growth in unrestricted fund

balances over the past several years has provided VPUE

with the flexibility to make strategic use of its reserves. In

2018/19, VPUE plans to deliberately reduce its reserves to

address the current year’s projected deficit.

42 ACADEMIC UNITS

VICE PROVOST FOR GRADUATE EDUCATION

PROGRAMMATIC DIRECTIONS The Office of the Vice Provost for Graduate Education (VPGE)

plays a key leadership role to ensure that Stanford graduate

students have the best possible educational experience.

VPGE marshals distinctive resources across the university

as a catalyst for academic innovation and creative problem

solving to address systemic challenges within Stanford’s large

and complex organization. Over 9,400 graduate students

pursue 15 distinct types of degrees in 212 graduate degree

programs across the seven schools. Students are encour-

aged to be bold in their ambition and prepare to have impact

in an increasingly diverse and complex world. To these ends,

VPGE provides opportunities for leadership and professional

development, interdisciplinary learning, and advancement

of diversity within Stanford’s inclusive community. VPGE’s

programs and fellowships reach over 5,100 graduate students

annually, including 850 students supported by one or more of

VPGE’s seven fellowship programs.

FellowshipsVPGE fellowship funding will increase 8%, from $37.8 mil-

lion in 2017/18 to $40.7 million in 2018/19, despite minimal

growth in endowment payout and general funds income. This

plan enables the number of VPGE fellows to remain constant.

For endowed fellowships, the Stanford Graduate Fellowships

in Science and Engineering (SGFs) and the Stanford

Interdisciplinary Graduate Fellowships, the number of new

awards may be reduced if endowment income remains flat.

Stipend amounts will increase 4% next year, while tuition

will increase 3.5%. Fund balances will cover this expected

increase in graduate student support.

Departments, schools, and students rely heavily on VPGE’s

funding, which helps with departmental planning, given

multiyear funding; increases diversity in graduate student

enrollment; and mitigates financial stress and affordability

challenges for students.

Innovative ProgramsVPGE continues to develop opportunities open to all graduate

students through the Graduate Professional Development

(GPD) framework, which includes initiatives that promote

professional skills in major domains, such as leadership, com-

munication, teaching, and preparation for faculty careers. The

GPD framework itself is an interactive tool that students use

to assess their skills, determine priorities for gaining profi-

ciency, and locate resources at Stanford—many of which are

provided by VPGE.

Endowment Payout forGraduate

Fellowship 79%

General Funds19%

Other Sources 1%Investment Income 1%




Expenses


Graduate Student Support 36.7 37.8 40.7

Non-Salary 2.4 2.6 3.2





Surplus / (Deficit) (2.3) (3.0) (5.2)



Revenues and expenses in this chart and table include $35.8 million of activity that is accounted for as operating transfers in Appendix A.

43ACADEMIC UNITS

A major focus to improve graduate education is to strengthen

student-faculty advising relationships. When advising

goes well, it may be the best part of a student’s graduate

education. When it doesn’t, it can be a major impediment.

Graduate students and faculty alike have conveyed a range of

concerns about advising. With input from the Committee on

Graduate Studies, directors of graduate studies, faculty, stu-

dents, and colleagues at peer universities, VPGE is developing

clear guidelines and disseminating established best practices,

including templates to scaffold conversations as well as ad-

vising workshops for students and faculty on parallel tracks.

Topics range from setting expectations to giving feedback and

resolving conflict.

VPGE provides innovative programs in collaboration with

Stanford’s seven schools to recruit and retain students from

diverse backgrounds and enhance their educational experi-

ences while at Stanford. Among several initiatives, two are

noteworthy for their impact and national visibility. VPGE has

scaled the Enhancing Diversity in Graduate Education (EDGE)

Doctoral Fellowship Program from 57 to 100 new awards

annually. EDGE supports incoming PhD students who bring

diversity, broadly defined, in the context of their academic

fields. EDGE provides mentoring, professional development,

and research funds. The Diversifying Academia, Recruiting

Excellence (DARE) Doctoral Fellowship Program is in its 10th

year of supporting advanced PhD students who bring diver-

sity to their fields as they prepare for academic careers. With

188 fellowships awarded thus far, over 130 DARE fellows have

graduated, and 75% are employed in the academic sector.

This is an era when many graduate students turn to the uni-

versity for more holistic support. Students seek more central

resources that supplement specialized advanced study in

their degree programs, including professional development

and career preparation, as well as enhancing their daily lives

at Stanford. They have articulated their perspectives through

VPGE’s “What’s Possible” portal as well as submissions to the

university’s long-range planning process. Students have iden-

tified several factors that may impede academic progress and

therefore offer opportunities for change. These opportunities

involve requests for resources to mitigate financial stress,

improve faculty advising, hire and retain diverse faculty, in-

crease the diversity of graduate enrollment, promote a more

inclusive culture through training for faculty and staff, add

resources to support mental health and well-being, further

subsidize health insurance, and add subsidies for child care.

Collaborating with university leaders, students, faculty, and

staff across the campus, VPGE will continue to explore how

to address these needs and prioritize them in the context of

the university’s long-range planning.

CONSOLIDATED BUDGET OVERVIEWVPGE was launched in 2007 with a highly restricted endowed

fund balance for the SGF program. As growth was more grad-

ual than initially envisioned, VPGE accrued a designated fund

balance from general funds as well as patent income from the

Office of Technology Licensing (including an unprecedented

$9 million). As a result, since 2015, VPGE’s fiscal strategy has

been to sustain an annual deficit in the consolidated budget

to be covered by designated and endowed fund balances. The

reserves cover higher expenses for graduate student funding

and programs as well as anticipated declines in endowment

income for multiyear fellowships.

VPGE projects a 2018/19 consolidated budget with total rev-

enue and operating transfers of $43.7 million and expenses of

$48.6 million, resulting in an operating deficit of $4.8 million.

After asset transfers of $300,000, a deficit of $5.2 million in

fund balances is expected. This will reduce the consolidated

fund balance to $44.4 million at year-end, as planned.

The 2018/19 consolidated expenses comprise 85% direct

graduate student support, 9% compensation and benefits,

and 6% programmatic non-compensation expenses. VPGE

will provide $40.7 million in direct graduate student fund-

ing for fellowship programs in 2018/19. Tuition and salary/

stipend rate increases in fellowships and programs drive this

increase in funding. Compensation and non-compensation

expenses are expected to increase slightly to $4.6 million and

$3.2 million, respectively.

VPGE is confident the budget plan will provide sufficient

stability and flexibility over the next three years. Forecast

models indicate consolidated deficits will be increased annu-

ally, bringing the consolidated fund balance to $32.8 million

by 2020/21. VPGE will monitor the fund balance closely as

it makes decisions while long-range planning unfolds. There

is excitement about initiatives that will emerge, which at

present have unknown budgetary implications. The need for

a sustainable growth model is unarguable. Next steps will

entail some difficult decisions, as there are always more good

ideas and compelling needs than resources to support them.

VPGE will work to identify what matters most and where

there is leverage for change in the highest priorities.

44 ACADEMIC UNITS

VICE PROVOST FOR TEACHING AND LEARNING

The Office of the Vice Provost for Teaching and Learning

(VPTL) broadly supports learning across all of Stanford’s

schools and beyond the campus, advancing faculty-led pro-

grams and initiatives. VPTL’s mission reflects campus priori-

ties; it is intended to help Stanford invent the future research

university through faculty-initiated teaching and learning

innovation for undergraduate, graduate, professional, and life-

long learning. VPTL’s activities and services draw upon core

competencies in pedagogy, educational technology, learning

environments, academic business development, and strategic

collaboration throughout the university.

Throughout 2017/18, VPTL actively engaged in the long-range

planning (LRP) initiative. VPTL submitted proposals with

partners across campus, shored up essential campus-based

learning services, and prepared to support university-wide

priorities that will emerge from the LRP effort.

PROGRAMMATIC DIRECTIONSIn 2017/18, VPTL mapped out five areas of strategic focus

for 2018/19 that reflect the goals of faculty, departments,

and schools and that capitalize on the organization’s core

competencies to best meet increased needs expressed by

both faculty and students. The five areas are pedagogy and

learning success, learning spaces and tools, expanded credit

and degree programs, global engagement, and—a smaller but

important area—support for the research community. As a

service organization that is responsive to campus priorities,

VPTL established an academic advisory council (AAC) com-

posed of dean-appointed representatives, as well as three

focus-area steering groups with representation from each of

the seven schools and from students.

Pedagogy and Learning SuccessVPTL provides instructors and students with customized

support for learning, using principles of goal-based design,

engagement, inclusion, and reflection. In 2018/19 VPTL will

continue to support increased and improved educational

opportunities for instructors and graduate students to ac-

quire discipline-specific pedagogical foundations, develop

new teaching ideas, and apply inclusion and engagement

strategies in their teaching. One specific opportunity VPTL

will support with campus partners is the development of a

graduate student teaching certificate using blended modes

of face-to-face instruction combined with online learning.

Learning success programs delivered by VPTL optimize

student learning and resilience through tutoring, coaching,

workshops, and learning communities. These programs

help the university expand its efforts around inclusion and

diversity, especially helping first-generation and low-income

students build capacity and develop a sense of belonging at

Stanford. In 2018/19 VPTL will hire peer leaders and expand

academic skills and discipline-specific study support to

General Funds29%

Gifts 3%

Executive Education/

Other67%


Endowment Payout

1%



Expenses


Non-Salary 18.4 15.4 15.6








45ACADEMIC UNITS

student community centers, residence halls, and depart-

ments. This will not only fill an unmet need for student

learning support, but also help tailor this support to distinct

academic disciplines.

Learning Spaces and ToolsIn 2018/19 VPTL will continue work started in 2017/18 with

Land, Buildings and Real Estate to build a comprehensive

and rigorous framework designing instructional spaces when

planning new buildings and renovating existing buildings.

VPTL will facilitate a campus-wide instructional space study

with campus partners and school representatives. The long-

term goal is to use the output of this study to better inform

the location, type, and size of both formal and informal

classroom spaces. This will improve support for learners and

instructors while also allowing flexibility to accommodate the

future needs of evolving teaching practices.

Faculty are increasingly interested in adopting new tech-

nologies, tools, and platforms that in some cases promise

dramatic improvements in student learning activities or sub-

stantial time savings for faculty and other instructors. VPTL

has been asked to serve as a central resource to support the

secure, efficient, and effective adoption of these digital tools.

In 2018/19 VPTL will continue to use its depth of knowledge

in this area to analyze and implement tools that faculty/

students want while optimizing Stanford’s investment and

minimizing risk.

Expanded Credit and Degree ProgramsHistorically, admission to many Stanford programs has

been limited by physical capacity. In addition to supporting

broader, non-degree learning opportunities, VPTL supports

schools and departments in delivering hybrid degree and

online degree programs to learners worldwide. Upon school

and department demand, in 2018/19 VPTL will deliver three

new hybrid/online degree programs and two new graduate

certificate programs, all in different schools. Additionally,

VPTL will explore new delivery modes to not only enhance

the learner’s experience, but also help address issues such as

the needs to scale learning and to make the most of valuable

faculty time over the long term.

Global EngagementVPTL plays a significant role in extending the global reach

and impact of Stanford’s educational mission. By the end of

2018/19, VPTL will help create hybrid, remote, and in-country

educational programs and support meaningful engagement in

six countries: China, France, India, South Africa, Thailand, and

United Arab Emirates. The engagement in India and South

Africa is related primarily to VPTL’s 2017/18 addition of the

Stanford Center for Health Education (SCHE), a partnership

with the School of Medicine. SCHE supports a more effective

and efficient approach to the training of health professionals

at Stanford and around the world. SCHE is being studied as a

model for global engagement by interested faculty, schools,

and departments.

Research CommunityVPTL supports faculty and graduate students interested in

conducting research on learning by managing data on learn-

ing/learners and making that data available for research,

suitably anonymized. The emergence of online courses with

massive enrollments has enabled an entirely new field of edu-

cational research: the analysis of educational data on a very

large scale. The Stanford Lytics Lab at the Graduate School of

Education, supported by VPTL, is currently developing a body

of experimentally validated research that identifies targeted

interventions most likely to improve student learning at scale.

CONSOLIDATED BUDGET OVERVIEW The 2018/19 consolidated budget for VPTL projects total rev-

enues and operating transfers of $41.2 million and expenses

of $41.2 million, resulting in a small net operating surplus of

$67,000.

Total revenues in 2018/19 are projected to increase by $1.1

million, or 2.8%, from 2017/18. This increase is due to the

expansion of departmentally requested online degree and hy-

brid programs as well as the growth in new faculty-developed

graduate certificate programs.

Total expenses in 2018/19 are projected to increase by $1.3

million, or 3.1%, from 2017/18. Compensation expenses are

projected to increase $968,000, or 3.9%, primarily due to

annual merit increases. Non-compensation expenses are

projected to increase by $285,000, or 1.9%, which is slightly

below the rate of inflation. This is primarily due to a change in

the funding model for Converged Communications Services.

VPTL expects to have a $12 million fund balance at the end of

2018/19. It plans to utilize that balance to support additional

program development for residential and online students;

new technologies, tools, and platforms; pilots of new modes

of course delivery; and technology reserves to refresh VPTL’s

technology-rich spaces throughout campus over the next

several years.

46 ACADEMIC UNITS

VICE PRESIDENT FOR THE ARTS

Endowment Payout

30%

SponsoredResearch

1%

Other 21% General Funds21%

Gifts 27%


IN MILLIONS OF DOLLARS] 2016/17 2017/18 2018/19 ACTUALS PROJECTION PLAN


Expenses


Non-Salary 10.6 13.5 13.0


Operating Results 3.8 (1.6) (2.9)



Surplus / (Deficit) 6.0 (1.8) (3.9)



PROGRAMMATIC DIRECTIONSThe Vice Presidency for the Arts (VPA) was established in

February 2017 by the president and provost. It brings togeth-

er five arts organizations previously housed under the School

of Humanities and Sciences (H&S): the Cantor Arts Center,

the Anderson Collection at Stanford University, Stanford

Live and Bing Concert Hall, the Stanford Arts Institute, and

the Institute for Diversity in the Arts (IDA). In addition, a

central office provides administrative oversight, supports

extracurricular student arts activities, distributes arts grants,

and spearheads university arts initiatives. The academic arts

departments remain in H&S as key collaborative partners for

the VPA.

Building on the accomplishments of the Stanford Arts

Initiative (Stanford Challenge, 2007-2011), the VPA plans to

move the arts to the next level. In 2017/18, the VPA under-

took a process of strategic planning in alignment with the

university-wide long-range planning effort. Out of this pro-

cess, the VPA has articulated two major themes: (1) making

Stanford a vibrant home for art and artists, and (2) drawing

on Stanford’s multidisciplinary strengths to impact signifi-

cantly the future of the arts. The two goals will be achieved

through new and newly consolidated programmatic initiatives

as follows:

n A vibrant home for art and artists: Stanford has long

been known for its strengths as a research university, but

has not been recognized as a leader in the arts. The VPA

is committed to changing this dynamic. This will involve

magnifying successful programming, collections, and ex-

hibitions presented by VPA organizations. In addition, the

VPA will launch a major new visiting artist series, which

will bring some of the best and most interesting artists

practicing today to Stanford for short-term residencies

to engage with students and faculty while workshopping

their next projects. The VPA is also working to develop

a new public art program, which will create a dynamic

presence of contemporary art on campus. Finally, the VPA

continues to build support for students in extracurricular

arts activities and exploration of career goals in the arts.

n “Only at Stanford” arts programs: The arts are changing

rapidly through connections across media and artistic

disciplines, new technological opportunities, and chang-

ing audience habits. Stanford has an opportunity to use

its multidisciplinary strengths to help define and forge the

future of the arts. To take advantage of this opportunity,

the VPA is prioritizing programs and approaches that can

only take place at Stanford. In particular, new initiatives

are under way in art and technology, next-generation

storytelling, art and public policy, and arts leadership.

47ACADEMIC UNITS

In addition to the VPA-wide initiatives outlined above, new

programmatic directions at the Cantor Arts Center and

Stanford Live are of note. The Cantor Arts Center’s new di-

rector, Susan Dackerman, who came to Stanford in September

2017, is revamping the exhibition planning and academic

engagement structure for the museum. Strategic planning in

2017/18 will result in a revised operating strategy starting in

2018/19. Also in 2018/19, Stanford Live will open a renovated

Frost Amphitheater, which will house large-scale performanc-

es presented in partnership with external organizations. This

will result in a significant increase in earned revenues and

also increased operating expenses for the organization.

CONSOLIDATED BUDGET OVERVIEW The financial situations of the different VPA units vary dra-

matically. Each unit has its own dedicated funds, with varying

levels of restrictions. Cantor, Anderson, and Stanford Live all

operate in many ways as nonprofit businesses rather than ac-

ademic units, and their financial model reflects that orienta-

tion. Fundraising for special projects is frequent, and growth

in program expenses and one-time expenses is driven by the

availability of appropriate funding, so expenses are quite vari-

able year over year. VPA units frequently book gifts in a given

year that are earmarked to be spent in subsequent years, so

reserve funds are deployed across multiple fiscal years.

The VPA projects a 2018/19 consolidated budget with total

revenues and operating transfers of $22.6 million and ex-

penses of $25.5 million, resulting in an operating deficit of

$2.9 million that reflects the strategic deployment of reserves.

After transfers to plant of $1 million, the net decline in current

funds is $3.9 million.

Revenues and operating transfers are expected to remain flat

from 2017/18. Earned income is expected to increase by $1.2

million due to anticipated revenue from Frost Amphitheater,

opening in 2018/19. However, gift revenue is expected to

be lower by $1.1 million, mainly due to receipt of an unusu-

ally high one-time gift in 2017/18. This will be slightly offset

by higher gift and membership revenues expected by the

museums in connection with anniversary activities in 2019.

Expenses are expected to grow by $1.3 million due to an

increase in staff to support the new Frost Amphitheater and

VPA infrastructure and to fill critical vacant positions at the

Cantor Arts Center to support the new director’s strategic

priorities. There are also expected to be one-time expendi-

tures for Cantor Arts Center art acquisitions. Transfers of $1

million to plant include Cantor Arts Center security upgrade

and space/storage utilization projects.

The VPA’s financial priorities in 2018/19 are to:

n Sustain base operations of the VPA organizations;

n Develop an efficient and scalable infrastructure to support

the VPA organizations;

n Strategically use reserves to update the Cantor Arts

Center to bring it up to standards and make it a leading ac-

credited university museum capable of supporting future/

digital art forms; and

n Develop and pilot new initiatives, including new artist resi-

dencies and enhanced student professional development

programs in the arts.

VPA generally funds new initiatives and pilot programs

through expendable gifts. Core programs are sustained

through endowment payouts, expendable gifts, earned in-

come, and general funds. VPA has made the strategic deci-

sion to centralize several positions, along with the funding

associated with these positions, to create efficiencies and

become more scalable to support growth and new initiatives.

VPA’s overall reserve position is strong, with an expected fund

balance of $26 million beginning in 2018/19. However, the

reserves are unevenly distributed among the organizations

within VPA, and restricted to use for those organizations.

The Cantor Arts Center controls 65% of the fund balance,

and Stanford Live controls 17%. Anderson and IDA control

less than 3%. The majority of the remaining reserves are

restricted for visiting artists and student extracurricular arts

program support.

CAPITAL PLANThe most significant VPA capital project is the renovation of

Frost Amphitheater, scheduled to be completed in fall 2018.

Additionally, in 2018/19 the Cantor Arts Center will conduct

a study to identify opportunities to optimize space use for

exhibitions and operations. Finally, VPA is working with H&S

to conduct a feasibility study and to evaluate programmatic

needs for performance and multidisciplinary arts space as a

precursor to considering the possibility of a renovation of the

Memorial Auditorium facility.

48 ACADEMIC UNITS

HOOVER INSTITUTION

PROGRAMMATIC DIRECTIONSWith its eminent scholars and world-renowned archives,

the Hoover Institution seeks to improve the human condi-

tion by advancing ideas that promote economic opportunity

and prosperity, while securing and safeguarding peace. The

Hoover Institution generates ideas from its fellowship, col-

lects knowledge in its Library & Archives, and communicates

such knowledge and ideas to a broad audience, particularly

undergraduate students at Stanford and elsewhere.

Hoover is approaching the beginning of its centennial year in

2018/19. During its first one hundred years, the institution

earned an enviable position in the policy research community

due to its fellows and archives. As Hoover enters into its next

century, the institution will reinforce its strengths in research

and education and accelerate its pace of innovation. Recent

activities lay the foundation for these upcoming strategic

objectives.

Hoover’s hallmark is independent policy scholarship that is

distinguished by empirical and intellectual rigor. Therefore,

a strong and vital fellowship is critically important. Hoover

will formalize its existing fellow recruiting process, seek-

ing to identify a diverse group of fellows ascending in their

careers. The institution recently appointed Joshua Rauh as

the director of research to lead the effort of cultivating the

fellowship. Under his direction, the institution will launch

the Hoover Fellows program next year, recruiting scholars for

five-year term appointments. Hoover hopes to appoint three

fellows per year, to build a pipeline of scholars for more senior

positions at the institution. In addition, Hoover will continue

to appoint adjunct fellows, seeking to expand its senior fel-

lowship by identifying scholars from other institutions at the

pinnacle of their careers. Raghuram Rajan from the University

of Chicago and Stephen Kotkin of Princeton University are

two of the scholars appointed as adjunct senior fellows in the

last year. The 2018/19 budget plan includes expenses for this

more rigorous recruitment process, as well as for a limited

number of short-term adjunct appointments.

Hoover views the convening of scholars to tackle changes in

public policy as an essential function, which it performs pri-

marily through conferences and seminars. Output from these

events will reach and influence audiences beyond those able

to attend in person. These gatherings, which include scholars

from organizations beyond Hoover and Stanford, allow the in-

stitution to leverage its existing fellowship and further identify

talent to build the core fellowship.

Hoover has a unique opportunity to educate and inform

policy leaders and the broader public by utilizing its edu-

cational platforms and facilities, both at Stanford and in



Expenses


Non-Salary 22.1 25.5 27.2





Surplus / (Deficit) (2.4) (3.3) (5.3)



Endowment Payout

43%

Other 2% General Funds 1%

Gifts 52%


Sponsored Research 2%

49ACADEMIC UNITS

its Washington, D.C. office. Hoover created the Educating

Americans in Public Policy initiative to translate the institu-

tion’s work into accessible, shareable content. Since the

launch of the initiative’s Web platform, PolicyEd.org, in

late 2016, Hoover content has garnered more than 38 mil-

lion views. The institution will continue to develop unique

educational content on this platform in the coming year.

Locally, the recent opening of the David and Joan Traitel

Building provides new opportunities to engage and inform the

broader Stanford community with lecture series, policy boot

camps, and other programs. One example is the Cardinal

Conversations series, begun in January 2018 in collaboration

with the university and the Freeman Spogli Institute. The

speaker series is a thought-provoking community discussion

of key issues across the political spectrum and is included in

the 2018/19 budget.

The Library & Archives commit themselves to collecting,

preserving, and providing access to the most vital mate-

rial related to global, political, social, and economic change.

Technology is vital to achieving this commitment. In the

past year, Hoover implemented a new content management

system and initiated partnerships with international and U.S.

institutions and with private-sector companies to increase

the capacity of its digitization efforts. In the next year,

Hoover will leverage these new capabilities to bring its most

significant collections online in a robust, searchable form, to

be used for pure or applied research.

The Library & Archives will enhance their collections by grow-

ing specific collecting areas in support of the mission while

simultaneously deaccessioning collections outside the mis-

sion. Hoover will continue to support a significant output of

scholarship and education derived from its archival holdings

through conferences, workshops, and fellowship programs.

CONSOLIDATED BUDGET OVERVIEWFor 2018/19, Hoover projects revenues of $68.9 million and

expenses of $74.2 million. In prior years, Hoover received

restricted gifts for specific projects and scholars in advance of

associated expenditures. To balance the budget in 2018/19,

Hoover will use $5.3 million of these accumulated restricted

reserves, as planned. Net of these results, end-of-year fund

balances will total $34.9 million.

Hoover projects revenues to increase by $4.0 million, or

6.2%, over 2017/18. Endowment income will grow 3.9%,

with the difference from university growth projections due to

new endowment gifts. After several years of extraordinary

expendable giving growth, Hoover expects gifts to grow more

moderately in 2017/18, by 2.6%, or $900,000.

In 2018/19, expenses will be $4.5 million more than in

2017/18, as expenditures in the current year are below budget

due to staff vacancies. Growth from the 2017/18 budget is

a more modest $1.9 million and will be limited to available

revenue, occurring primarily in the following areas:

n Expenses for fellow recruitment under the Hoover Fellows

program and limited-term adjunct fellow appointments

are included.

n An increase in the number of events held in the David

and Joan Traitel Building will necessitate additional staff,

including a new event manager and audiovisual personnel.

Rental income will offset these staff costs. Additionally,

Hoover will begin to build deferred maintenance reserves

in 2018/19.

n Hoover intends to celebrate its centennial year with

speaker series, publications, and exhibitions. The 2018/19

budget plan includes costs for these programs.

CAPITAL PLANThe Hoover Institution completed a master plan study to

evaluate its overall facilities and space needs. The Hoover

program requires collaborative meeting space, a securable

single point of entry, and optimized archival storage. Based

on these needs, Hoover leadership is exploring the option of

demolishing the Herbert Hoover Memorial Building (HHMB)

and the Lou Henry Hoover Building (LHH) and replacing

these buildings with new facilities. If Hoover selects this

approach and university approval is obtained, construction

will be phased and only begin once funding from new capital

gifts has been identified. For 2018/19, activities will consist

primarily of additional planning efforts related to studying the

viability of demolishing LHH, with its replacement targeted

for Hoover fellows and meeting facilities. A replacement for

LHH should be completed within the next five years, with

HHMB replacement occurring subsequently. Hoover is also

collaborating with Stanford University Libraries regarding a

proposed expansion of the off-site Stanford Auxiliary Library.

Hoover has agreed to partially fund the expansion of this

facility at a rate proportional to the size of Hoover’s archival

storage needs.

50 ACADEMIC UNITS

STANFORD UNIVERSITY LIBRARIES

PROGRAMMATIC DIRECTIONSJane Stanford envisioned for the university a grand library that

would “draw to our far-off shore … eager, hungry students for

knowledge.” While the first library building fell in the 1906

earthquake before it even opened, what is now known as the

Cecil H. Green Library took its place in 1919. As they prepare

to celebrate the 100th anniversary of the central building, the

Stanford Libraries are proud to have developed into a dynamic

information system powering research and study, supporting

every corner of campus and, per Jane Stanford’s vision, draw-

ing students eager for knowledge.

Attentive to the emphasis on data services in the long-range

planning process, the Stanford Libraries will continue their

decades-long programs of collection and service in providing

data sets, training, support, and access to analytical software

for sciences, engineering, social sciences, and humanities.

The Libraries’ expertise in understanding scholarly needs,

skill in negotiating favorable rates and appropriate contrac-

tual terms, and goal of avoiding redundant purchases while

assuring broader access will continue. In addition, the digital

archive program, the Stanford Digital Repository (SDR), will

continue to provide on-demand, long-term, and scalable

archival storage for data and research results. In 2018/19,

the SDR will incorporate 3.5 million books digitized by Google

since 2004, dramatically extending its ability to support re-

search in the humanities and social sciences.

Recognizing the increased emphasis on digital research

methodologies and associated student demand, the Libraries

will continue their popular program of workshops on digital

research tools, including data curation, data and statistical

software, geospatial information systems applications, da-

tabase design and management, and digital archiving. With

supplemental funding from the Dean of Research, work will

proceed in 2018/19 on the development of the Research

Information Ecosystem, an intelligence system that leverages

the capacities of the SDR, Stanford Profiles, and Stanford

Electronic Research Administration (SeRA) to improve utility

and efficiency in the Stanford research community.

Since 2016, the Libraries have extended access for faculty

and students to rich archival holdings across the globe with

the development of the International Image Interoperability

Framework (IIIF) and Mirador image browser. IIIF supports

streaming of an estimated 1 billion images from hundreds



Expenses


Non-Salary 39.5 40.5 41.5




Other Assets (0.1) 0.0 0.0





Endowment Payout

18%

Sponsored Research

2%

Gifts 2%

Other 3%

General Funds65%

University Press10%


51ACADEMIC UNITS

of cultural organizations directly to researchers’ computers,

while Mirador enables annotation of portions of images,

transcription, translation, comparison of multiple versions,

and even reassembly of dismembered manuscript books and

assembly of 3D objects. The Libraries will continue to coor-

dinate the work of a global community developing IIIF and

Mirador, and will initiate discovery services that will improve

the delivery of IIIF-compliant digital images to researchers

at Stanford.

Planning for the third and final module of Stanford Auxiliary

Library number three, the Libraries’ off-site storage facility,

will be initiated in 2018/19. The module is being planned in

collaboration with Hoover and is forecast to accommodate

transfers of collections from campus for eight to ten years.

Also ongoing in 2018/19 will be the collaborative digitization

of Stanford’s extensive historic newspapers.

In 2017/18, Stanford University Press, an enterprise division

of the Stanford Libraries, moved to a new distributor, Ingram

Academic. In addition, the Press continued to refine its pub-

lishing programs, reducing the number of titles in order to

focus more editorial and marketing resources on each title.

This strategic move, along with superior marketing services

from the new distributor, led to a per-title revenue increase

of 25% above the 2017/18 budget, and a total book sale rev-

enue increase of 10% above budget. For 2018/19, the Press

projects a break-even budget, with revenues and expenses

each at $8.1 million.

These strategic moves have also resulted in increased at-

tention from prospective authors and agents, enabling the

Press to sign higher-profile titles. The lead title for the fall

2018 season will be John Hennessy’s book Leading Matters,

an account of his leadership strategy and its development.

Additionally, representation of Stanford faculty within the

program has more than doubled in the past year, growth that

is anticipated to continue into 2018/19 and 2019/20. Income

from The Zohar, the first complete, annotated translation of

the founding work of Jewish mysticism, which has a world-

wide audience, is also expected to drive revenue in 2018/19.

Innovations in digital publishing at the Press will continue

through some open-access digital publications and the

Interactive Scholarly Works program, which will release four

new publications in 2018/19. In fall 2018, the Press will also

publish a collaboratively authored, open-access, online text-

book for undergraduate American history classes.

CONSOLIDATED BUDGET OVERVIEWThe 2018/19 consolidated budget shows total revenues

and operating transfers of $91.5 million and expenses of

$90.0 million, yielding an operating surplus of $1.5 million.

Revenues and transfers are forecast to increase less than 1%

from the level projected for 2017/18. Modest increases in

the range of 3% to 4% are anticipated for expendable gifts

and endowment payout. However, the volume of sponsored

activity is projected to decline by about one-third from the

peak level in 2017/18. Two major foundation grants totaling

$2.5 million that propelled sponsored activity over the past

two years will both expire in December 2018, with only one

new sizable grant anticipated.

Expenses are forecast to increase $2.6 million. The Libraries’

staff headcount has not grown since 2014/15, as recruiting

and retaining academic staff remain challenging. The salary

budget is estimated to grow about 3.9% in anticipation of

continuing high turnover. The library information budget is

forecast at $25.7 million, an increase of 5.1%. However, over-

all expenses will only grow 3%, as $506,000 of converged

communications budget will be transferred to University IT

in 2018/19, when these services will become centrally funded.

Consolidated fund balances at the end of 2018/19 are expect-

ed to be $19.8 million, of which about 20% is unrestricted to

operations. Approximately $10 million of the fund balances

will reside in restricted gift and endowment funds. A compre-

hensive study is under way to analyze possible utilization of

these resources in the short and long run to relieve inflation-

ary pressure on the library information budget. In addition,

over $5 million in fund balances are in the LOCKSS (Lots of

Copies Keep Stuff Safe) auxiliary unit, an open-source system

allowing peer libraries to preserve digital library materials.

52 ACADEMIC UNITS

SLAC NATIONAL ACCELERATOR LABORATORY

PROGRAMMATIC DIRECTIONSStanford University operates SLAC for the Department of

Energy (DOE) through a management and operating contract.

The DOE considers Stanford one of the best contractors,

as evidenced by its fiscal year 2017 performance feedback:

“Stanford University continues to provide outstanding corpo-

rate support to SLAC. This level of strong contractor support

is uncommon within the DOE-SC complex.” SLAC’s success

depends on a robust partnership with Stanford University to

attract and support some of the world’s best and most in-

novative scientists.

Based on its strategic plan, SLAC’s investments are focused

on two broad areas: photon science programs enabled by its

X-ray user facilities and particle physics and particle astro-

physics programs.

Scientific User FacilitiesSLAC’s user facilities draw more than 2,700 researchers from

around the world annually, with Stanford users representing

more than 10%. The laboratory operates two leading X-ray

scientific user facilities: the Linac Coherent Light Source

(LCLS) and the Stanford Synchrotron Radiation Light Source

(SSRL). LCLS is the world’s first hard X-ray free-electron laser

(XFEL). This facility has transformed the field of X-ray sci-

ence and positioned SLAC as a world-leading center for XFEL

science. To maintain this preeminence, SLAC and the DOE

are pursuing a vigorous series of developments (LCLS-II and

LCLS-II High Energy) that will expand the accelerator’s range

of X-ray energies, significantly enhancing SLAC’s scientific

capability and capacity.

SSRL provides X-ray beams and advanced instrumentation

for research ranging from energy storage to drug discovery.

SSRL facilitates tremendous scientific synergy between SLAC

and Stanford. A large number of faculty groups from four of

Stanford’s schools pursue research enabled by SSRL. In ad-

dition to past investments, Stanford is contributing funding

towards a new macromolecular crystallography beam line,

which will enable structural biology research. SSRL is also

building a new energy materials beam line that will further

leverage materials research programs at Stanford.

A joint initiative between Stanford and the DOE laid the

groundwork for Stanford and SLAC to host a world-leading

National User Center, funded by the National Institutes of

Health, for cryo-electron microscopy (cryo-EM). cryo-EM

is a transformative scientific tool of the future for atomic-

resolution structural biology.



Expenses


Non-Salary 115.7 120.1 140.8

SLAC Construction 282.9 257.5 142.7

SLAC Fee Paid to Stanford 4.6 4.6 4.6




Other Assets 0.0 0.0 0.0


Surplus / (Deficit) (1.9) (0.4) (0.2)



DOE Research Funds

71%

University Funds1%DOE

Construction Funds28%


53ACADEMIC UNITS

Science ProgramsSLAC recognizes that providing world-class research facilities

is not enough. To ensure that the best science is carried out

at SLAC, the laboratory takes a leadership role in identifying

and pursuing new science, leveraging Stanford’s ability to

attract world-class scientists. In addition to large-scale user

facilities, SLAC’s core capabilities as recognized by the DOE

include advanced instrumentation, condensed matter physics

and materials science, chemical and molecular science, ac-

celerator science and technology, fusion energy science, and

particle physics. In addition, SLAC is working with Stanford

to leverage its capabilities toward applied programs; these ef-

forts have had significant success in applied energy research.

SLAC is a major partner in the ATLAS experiment at the Large

Hadron Collider at the European Organization for Nuclear

Research (CERN). The ATLAS experiment explores the prop-

erties of the Higgs boson while searching for physics beyond

the Standard Model of particle physics. SLAC’s cosmic fron-

tier program includes the Fermi Gamma-ray Space Telescope,

research and development efforts for the next generation of

dark matter experiments, and construction of the ground-

based Large Synoptic Survey Telescope (LSST).

Joint Stanford-SLAC institutes, including the Stanford PULSE

Institute (PULSE), the Stanford Institute for Materials and

Energy Sciences (SIMES), and the SUNCAT Center for

Interface Science and Catalysis, create a competitive advan-

tage for SLAC and Stanford in offering the vast capabilities of

both institutes to SLAC’s sponsors. PULSE faculties bring ex-

pertise to leverage SLAC’s world-leading position in ultra-fast

X-ray science. SIMES is developing next-generation battery

technologies, and SUNCAT is expanding carbon dioxide fuel

research with a five-year, $7.5 million grant from the DOE’s

Joint Center for Artificial Photosynthesis.

CONSOLIDATED BUDGET OVERVIEWThe 2018/19 consolidated budget shows total expenses of

$514.4 million. Of this, $510.0 million is from the DOE con-

tract and comprises $332.5 million for DOE-funded research,

$142.7 million for construction, and $34.8 million for research

funded by others. While the DOE funds the vast majority

(93%) of the SLAC budget, SLAC’s strategy to diversify fund-

ing sources to include other federal and non-federal agencies

is starting to show real results.

Research program awards will increase over $50.0 million for

2018/19 over 2017/18, reflecting SLAC’s growth and diversifi-

cation of its sponsor base. This growth includes the cryo-EM

National User Center, as well as the start of operation costs

for the LCLS-II and LSST projects.

Construction project costs will decline in 2018/19 by more

than $110.0 million from 2017/18 as the DOE-funded LCLS-II

and LSST projects wind down and start the transition to op-

erations. LCLS-II in particular has a total cost exceeding $1.0

billion over the life of the project. Planning for new construc-

tion of the LCLS-II High Energy project begins in 2018/19 with

a total estimated project cost nearing $350 million.

Included in the DOE contract is a performance fee of $4.6

million paid to the university for operating SLAC. Of this $4.6

million, the university allocates roughly $1.9 million to SLAC

for general funds plus $1.0 million for director discretionary

activities each year.

CAPITAL PLANSLAC’s long-range development plan supports future scien-

tific program direction by consolidating research activities,

upgrading infrastructure, renovating facilities, and demolish-

ing substandard structures. This plan serves as a working

document and resource guide beyond the immediate future

of planned capital projects.

SLAC’s large DOE-funded projects enable its research to stay

at the cutting edge of science. The LCLS-II project builds on

the success of LCLS to ensure that the United States main-

tains a world-leading capability for advanced research in

energy, materials, biology, and chemistry. In 2018, funding

has been approved for the initiation of yet another upgrade

project for LCLS to enable the production and use of high-

energy, ultra-short pulse X-rays delivered at a high repetition

rate; it includes X-ray instrumentation to enable experiments

by the external user community.

SLAC’s building projects provide the laboratory and office

spaces necessary for scientists, engineers, and staff. The

university-funded shell of the Arrillaga Science Center (for-

merly Photon Sciences Laboratory Building) will be complete

with the $57.0 million DOE-funded outfitting of the first two

floors in late 2018. This environmentally sustainable facility

will include labs, characterization, cleanroom spaces, the NIH

National User Center for cryo-EM, and office and collabora-

tion space. The university-funded expansion of the Stanford

Guest House at SLAC has been placed on hold. This will

impact the ability of users of the new LCLS II facility to find

local accommodations when the facility completes transition

to operations in 2020.

54 ACADEMIC UNITS

CONSOLIDATED BUDGET FOR OPERATIONS, 2018/19: ADMINISTRATIVE & MAJOR AUXILIARY UNITS[IN MILLIONS OF DOLLARS] TOTAL REVENUES RESULT OF TRANSFERS CHANGE IN AND OPERATING TOTAL CURRENT (TO)/FROM EXPENDABLE TRANSFERS EXPENSES OPERATIONS ASSETS FUND BALANCE

Administrative Units Business Affairs 253.0 255.1 (2.1) (0.2) (2.3) Office of Development 93.7 94.6 (0.9) (0.0) (0.9) General Counsel & Public Safety 47.7 47.5 0.2 0.0 0.2 Land, Buildings and Real Estate 343.9 331.8 12.1 (10.1) 2.0 Offices of the President and Provost 135.7 127.2 8.5 0.7 9.1 Office of Public Affairs 4.2 4.4 (0.1) 0.0 (0.1) Stanford Alumni Association 45.9 46.2 (0.4) 0.0 (0.4) Stanford Management Company 41.2 41.5 (0.4) 0.0 (0.4) Student Affairs 78.8 80.4 (1.6) 0.0 (1.6) Undergraduate Admission and Financial Aid 204.1 204.8 (0.7) 0.0 (0.7) University Communications 9.1 9.2 (0.1) 0.0 (0.1) University Human Resources 14.9 16.3 (1.4) 0.0 (1.4)

Major Auxiliary Units Athletics (Operations and Financial Aid) 139.9 143.7 (3.8) 0.0 (3.8) Residential & Dining Enterprises 276.0 272.8 3.1 (4.1) (0.9)

Total Administrative & Auxiliary Units 1,687.9 1,675.6 12.3 (13.7) (1.4)

55ADMINISTRATIVE & AUXILIARY UNITS

CHAPTER 3

ADMINISTRATIVE & AUXILIARY UNITS

This chapter focuses on initiatives and priorities in the administrative and auxiliary units of

the university.

Development & Alumni 8%

Admission & Financial Aid 12%

Business Affairs

15%

Other1 7%

Land, Buildings & Real Estate 20%

Athletics 9%

2018/19 Consolidated Expenses by Administrative & Auxiliary Units

Academic$4,989.9 Million

Administrative & Major Auxiliary Units

$1,675.6 Million

1 Other is Stanford Management Company, General Counsel & Public Safety, Public Affairs, University Communications, and University Human Resources.

Residential & Dining 16%

President & Provost 8%

Student Affairs 5%

56 ADMINISTRATIVE & AUXILIARY UNITS

BUSINESS AFFAIRSThe Business Affairs organization provides administrative

infrastructure, systems, services, and support for the ben-

efit of the university community. Business Affairs’ vision

is, “Together we will make administration seamless and

efficient to enable and support teaching, learning and re-

search.” Business Affairs units include Financial Management

Services (Controller’s Office, Treasurer’s Office, Purchasing &

Payments, Financial Management Consulting and Support,

and Global Business Services); University IT (IT Services,

Administrative Systems, Information Security Office, UIT

Shared Services); Office of Research Administration; Office

of the Chief Risk Officer; and Business Development.

The 2018/19 consolidated budget for Business Affairs shows

revenues and transfers of $253.0 million and expenses of

$255.1 million. After transfers to assets of $200,000, total

fund balances are projected to be approximately $36.3 million

at the end of 2018/19, a use of $2.3 million. Business Affairs

will use $1.1 million of reserves to fund one-time information

security priorities. Additional reserve use will fund strate-

gic operations priorities including the talent development

rotational program, anticipated fit-up of new facilities at the

Redwood City campus, refurbishment of Business Affairs’

remaining space on the historic campus, and enterprise IT

systems initiatives in the areas of cloud computing and ser-

vice management.

Revenues and transfers will increase by $16.3 million, or 7%,

from 2017/18 year-end projections. This increase is primarily

due to a $17.6 million increment in general funds and growth

in revenues of $1 million (or 1%), offset by transfers to other

units. Of the increase to general funds, $7 million is from

the change to university central funding for converged com-

munications (a service bundle of telecommunications and

network connectivity and related devices used broadly across

Stanford). Cost rise growth accounts for $8.8 million, which

includes $3.5 million related to liability insurance increases.

The remaining $1.7 million of incremental general funds is

allocated to base additions for IT priorities, including video

conferencing to support the connection of Stanford employ-

ees between campus locations, cloud computing, operations

and maintenance costs for enterprise systems, and informa-

tion security initiatives.

Total expenses are projected to be 8.4%, or $19.7 million,

greater than in 2017/18. The increase is primarily driven

by eight new budgeted positions, filling many currently

open positions, and the effects of a strong salary program.

Combined, these result in an 8.3%, or $12.2 million, increase

in compensation expense. The $7.5 million increase in other

operating expenses is due to the converged communications

central funding change and cost rise.

Each year Business Affairs focuses on a specific group of

principal initiatives, many of which span multiple years with

annual milestones and deliverables. These initiatives are

focused on continuous improvement in delivering excellent

client service, making administrative processes and systems

more efficient, and mitigating enterprise risk.

The top Business Affairs initiatives include the following:

n Business Affairs in Redwood City: Business Affairs

supports and collaborates with Land, Buildings and

Real Estate to facilitate completion of the Redwood City

campus design, construction, and operations planning. In

collaboration with University Human Resources, it deliv-

ers change management training and tools to prepare,

equip, and support employees in their transition. Business

Affairs also partners with university department leaders

to develop an integrated collaboration/communication

solution that includes voice, video, and instant messaging,

supporting robust solutions between the main campus,

Redwood City, and other alternate work locations.

n Cloud Adoption: Business Affairs facilitates adoption

of cloud-based technologies that enable Stanford to be

nimble, cost-efficient, secure, and innovative with a variety

of computing and collaboration needs. University IT (UIT)

is redeploying existing resources and hiring to meet the

university demand for support.

n Service Management: Business Affairs is in the third year

of a multiyear principal initiative to implement ServiceNow

to transform and unify service management for University

IT (UIT) and the broader campus community. Service

Management is a coherent framework that includes all

of the policies, processes, and procedures used to man-

age the services UIT delivers. The system also supports

service offerings across the campus community, including

but not limited to University Human Resources, Financial

Management Services, Residential & Dining Enterprises,

University Communications, Student Affairs, and the Dean

of Research.

n Information Security: Information security has been a

top-five Business Affairs principal initiative for several

years. The goal is to provide security solutions such that

Stanford has no incidents attributable to a lack of best

practices. The major focus continues to be on high-risk

data and includes (a) ensuring minimum security stan-

dards are met for all university-managed servers and

applications handling high-risk data; (b) developing and

adopting minimum security standards for cloud-based

systems; and (c) remediating file storage risk.

n Talent Development: In support of growing its internal

talent, Business Affairs is continuing the multiyear pro-

gram for staff development that includes exposure, experi-

ence, and education. It is also continuing a pilot program

in which each year three employees participate in yearlong

rotational assignments.

n Purchase to Pay: Business Affairs is engaged in a mul-

tiyear, multifocused effort aimed at improvement in the

spend management and purchasing marketplace areas.

The focus is on establishing a collaborative approach to

produce higher and more sustainable levels of adoption.

One step is establishing a university-wide Spend Advisory

Board, including representation from SLAC and the hos-

pitals. Business Affairs is also implementing Amazon for

Business as the university’s purchasing marketplace, with

built-in compliance that is simple and easy to use, and

requires little training.

OFFICE OF DEVELOPMENTThe Office of Development (OOD) projects revenues and

transfers of $93.7 million and total expenses of $94.6 mil-

lion in 2018/19, resulting in the planned use of $945,000 in

reserves. OOD fund balances are anticipated to decline due

to short-term investments in the Engineering development

team, facilities and equipment expenses related to the im-

pending move of many development staff to Redwood City,

and a significant long-term investment in a comprehensive

talent management program for development staff.

OOD’s main funding sources remain general funds and sup-

port from the School of Medicine and Stanford Health Care

for Medical Center Development costs.

Total expenses for 2018/19 are 2.6% higher than the 2017/18

year-end projection. Growth in core development programs

focused on undergraduate education and international

outreach will be offset by a reduction in expense associated

with OOD’s ongoing project to replace its IT infrastructure

(ADAPT, the Alumni and Development Applications Platform

Transition).

In 2016/17, philanthropic support for Stanford University,

including both of its affiliated hospitals, reached $1,129.3 mil-

lion. Over half of all gifts made in 2016/17 were of $100 or

less, which is a testament to the dedication of our alumni and

friends to the breadth of disciplines and activities at Stanford.

Looking ahead to 2018/19, OOD will remain actively engaged

with existing and prospective donors to support key university

and hospital priorities, particularly graduate student housing

in Escondido Village and initiatives that are now emerging

from the university’s comprehensive long-range planning

process. OOD will invest general funds and reserves in criti-

cal areas consistent with its strategic goals:

n Create an environment that attracts top candidates and

provides employees with opportunities for growth and

development—OOD has hired an executive director for

strategic talent management who is actively building a

talent acquisition team focused on establishing a pipeline

of qualified staff for all positions. Beyond recruitment, this

group will devote its attention and energy to supporting

development staff during their full life cycle at Stanford,

with a near-term focus on retention and professional

development. With growth in the number of staff who

telecommute or work remotely and the upcoming move

of many development staff to Redwood City, the new

executive director will also lead OOD’s efforts to become

more effective in working across distributed campuses and

teams.

n Support the university’s long-range planning process—

With all units focused on the future, development staff

are being thoughtful about how best to organize and

ready OOD for what will come after the planning process

is complete. A component of this preparation is the

comprehensive review of existing field staff portfolios and

prospective donors who are not currently staffed by gift

officers.

n Engage volunteer leaders—OOD has launched a program

called LEAD (Lifelong Engagement and Advocacy for

Development), which is aimed at identifying and inspiring

future leadership volunteers and will continue to focus on

creatively engaging volunteers in university life.


n Develop systems and business processes that maximize

Stanford’s ability to engage donors and prospects in

timely, meaningful, and personalized ways—OOD is in

active partnership with the Stanford Alumni Association

and University IT to retire its 20-year-old IT infrastructure

and move to Salesforce and other technologies. The

ADAPT project was launched in July 2015 and will take

place over five years. It covers all aspects of OOD’s sys-

tem needs, including constituent management, commu-

nications, events, marketing automation, gift processing,

reporting and business intelligence, and stewardship.

GENERAL COUNSEL AND PUBLIC SAFETY

Office of General CounselThe Office of General Counsel (OGC) projects a balanced

consolidated budget of $23.4 million in 2018/19. Of this,

$14.3 million is a direct pass-through for health care legal

services, $3.9 million is from university units that reimburse

OGC for legal services on an annual basis, and the remaining

$5.2 million is from general funds. OGC anticipates a modest

$300,000 surplus for 2017/18, due to salary savings. The

2018/19 budget reflects a 4.6% increase from the 2017/18

year-end projection.

Client demands for legal services continue to increase year

over year, increasing the volume of work that is required.

OGC received additional base general funds from the provost

to expand in-house capacity as well as to address market

equity and retention issues.

OGC will continue to focus on its main strategic priorities:

proactively trying to achieve additional savings by reviewing

operational costs and increasing efficiency; identifying risk

to minimize it; providing preventative counseling and more

comprehensive client training; and resolving disputes early.

OGC remains committed to its effort to maintain an optimal

balance between inside and outside counsel, and provide

cost-effective, high-quality service.

Department of Public SafetyThe 2018/19 consolidated budget for the Department of

Public Safety (DPS) includes revenues and transfers of $24.3

million offset by projected expenses of $24.1 million, leaving a

projected surplus of $159,000. The majority of DPS’s budget

is supported by general funds (85.2%). Incoming transfers

from Parking & Transportation Services to support parking

enforcement and related activities make up approximately

10% of the total, and revenues from special-event security

operations account for the remaining 4.8%.

Stanford and the City of Palo Alto continue working toward

finalizing the terms of a new fire services agreement, which

is expected to be the foundation for a five-year contract with

the option to renew. Since October 2015, when the original

contract expired, Palo Alto has provided fire services to

Stanford under a series of short-term extensions. The fire

contract budget projection for 2018/19 of $7.8 million is

based on the model described in the current extension to the

contract. Actual 2018/19 expenses to Stanford could change,

assuming a new agreement is finalized as both parties intend.

DPS remains committed to increasing its numbers of sworn

and nonsworn personnel and will need to add staff in order to

adequately address safety and security needs of the growing

campus community. Hiring and retention of personnel have

been challenging as virtually every Bay Area police agency

has multiple vacancies. Other areas of focus for 2018/19

include the implementation of a county-mandated interop-

erable emergency communications system, additional func-

tional improvements to the university’s AlertSU system, and

groundbreaking for the new Public Safety facility expected to

be completed in 2019/20.

LAND, BUILDINGS AND REAL ESTATELand, Buildings and Real Estate (LBRE) is responsible for the

university’s Capital Plan; commercial real estate on endowed

lands; campus utilities, grounds, and parking and trans-

portation; and stewardship for 8,180 acres of campus and

contiguous land, as well as the construction and operational

management of the Stanford Redwood City campus. LBRE

also manages operations and maintenance (O&M) for over

320 academic buildings and 6 parking structures totaling over

10 million square feet (sf).

During 2018/19, LBRE estimates revenues and transfers of

$343.9 million and expenses of $331.8 million, yielding an

operating surplus of $2 million after an expected transfer of

$10.1 million for capital renewal projects.

Total expenses in 2018/19 are expected to increase by $11.3

million, or 3.5%, over 2017/18 as a result of:


n Incremental O&M costs of $3.7 million for new campus

structures, primarily Bass Biology and Neurosciences/

Chemistry, Engineering & Medicine for Human Health;

n Leasing of 16 buses for the Marguerite fleet, at a cost of

$1.1 million;

n The filling of vacant positions from the prior year for 12

months, for an increase of $4.6 million, including benefits;

and

n General increases in compensation and materials.

In addition to the responsibilities listed above, LBRE leads

numerous initiatives that typically span years from concept

to completion. These initiatives are described in detail in

Chapter 4, Capital Plan and Capital Budget, and include:

n Stanford Redwood City

n Escondido Village Graduate Residences

n General Use Permit (GUP)

n Growth and transportation

n Parking and circulation

Furthermore, LBRE is currently implementing the Facilities

2020 operational initiative.

Facilities 2020

Facilities 2020, an initiative that moves facilities operations

from a “central shops” organization to a hybrid “district”

organization, will return 55,000 GUP sf from LBRE to aca-

demic (or other) use as determined by the university. It will

save significant maintenance technician travel hours and,

as a result, will reduce both the workforce and dependence

on vehicles. Four District Work Centers (DWCs) will be

constructed in strategic locations on campus to allow the

technicians to be closer to the buildings they serve, thereby

enhancing customer service. Occupancy of the DWCs is

planned for early 2019. Facilities 2020 also improves plan-

ning and scheduling of facilities work; allows better tuning of

processes to improve quality and timeliness of work using

new key performance indicator tracking; and provides greater

employee training opportunities for safety, skill set improve-

ment, and career development.

Once fully implemented, Facilities 2020 is estimated to return

$1.5 million annually to general funds (after reducing the $2.3

million savings estimate by the $817,000 in debt service for

the construction of the DWCs).

Custodial Contract

Over the past five years, the university has benefited from a

below-market custodial contract that has yielded about $2

million in cost avoidance. However, this contract expired in

August 2017, and the service provider, Cushman & Wakefield

(C&W), sought to increase the contract cost 25%. After

four months of negotiations, LBRE ultimately selected UG2

instead of C&W.

UG2 is perfectly positioned for a partnership with Stanford;

it can provide outstanding service, and it sees value in having

a Stanford contract to expand its portfolio. Due to increasing

prices in the custodial market, the new contract is up 21%

from the prior, though it is $400,000 per year less than the

C&W contract would have been. The new UG2 contract is

still at the low end of the market, and the university will con-

tinue to achieve cost avoidance compared to a full market-

based contract over this new contract’s life, which expires

December 31, 2022 (and can be extended for two additional

years).

OFFICES OF THE PRESIDENT AND PROVOST The budget of the Offices of the President and Provost (PPO)

for 2018/19 will consist of revenues and operating transfers

of $135.6 million and expenses of $127.1 million, resulting in

a net change of $9.1 million in the consolidated fund balance

after a $668,000 transfer from plant funds. The primary

contributor to this increase in fund balance is unspent en-

dowment payout that supports the new Knight-Hennessy

Scholars program.

PPO is a diverse collection of units that share a reporting re-

lationship to the president or provost. At present there are 14

such units, but PPO’s composition changes each year and can

vary not only in size but in requirements for support. In ad-

dition to the President’s Office and the Provost’s Office, PPO

includes the Academic Secretary’s Office, Continuing Studies,

Faculty and Staff Housing, Institutional Research & Decision

Support (IR&DS), the Office for Institutional Equity and

Access, the Office for Religious Life, the University Budget

Office, the Secretary of the Board of Trustees, and several

other small units that support university-wide services.

For 2018/19, PPO will continue using reserves to assist with

staffing needs, cover unanticipated expenses throughout its


organization, and fund renovations. A small increment of

general funds will support additional staff in IR&DS to allow

work on university initiatives.

In fall 2018, the Knight-Hennessy Scholars program will

welcome its first cohort of 50 graduate students to Stanford.

Over the next few years, the number of scholars will be

expanded to 100. These high-achieving students with dem-

onstrated leadership and civic commitment will receive full

funding to pursue a graduate education at Stanford. In addi-

tion to their core Stanford degree programs, these scholars

will have additional opportunities for leadership training,

mentorship, and cohort-based experiential learning across

multiple disciplines.

A key initiative that began in early 2016/17 is the long-range

plan (LRP). After celebrating Stanford’s 125 years of innova-

tion in education and research, the president and provost

began a strategic planning exercise to help envision Stanford

in the next decade. The LRP effort is based on developing a

bold vision for Stanford’s future and organized around key

conceptual categories: education, research, our commu-

nity, and engagement beyond our university. The President’s

Office is directly responsible for planning and support for this

ongoing initiative. The initiative and its outcomes will impact

PPO’s immediate operations as it moves to plan implementa-

tion, fund near-term strategic objectives, and make related

decisions about staffing and resources to support the LRP.

OFFICE OF PUBLIC AFFAIRSThe Office of Public Affairs (OPA) projects total 2018/19

revenues and transfers of $4.2 million and expenses of $4.4

million (both unchanged from the projected 2017/18 levels),

resulting in the use of some operating reserves. Incremental

base general funds allocated to OPA include funding to sup-

port its mission of monitoring the public policy and political

environment for Stanford.

OPA forecasts an ending balance of $430,000, of which it

will use approximately $335,000 to maintain a very modest

reserve to support internal and external strategic programs.

In consultation with university leadership, OPA’s Government

and Community Relations Office (GCR) leads Stanford’s

engagement with federal, state, and local governments, as

it also fosters Stanford’s relationship with neighboring com-

munities. GCR promotes the university’s research and edu-

cation mission through contact with public officials, tracking

of pertinent legislation and regulatory proposals, and, when

appropriate, lobbying on behalf of the university on a wide

variety of issues ranging from land use policies to funding for

the basic sciences.

The current federal policy environment requires significantly

increased efforts and resources to defend and advance the

university’s research, education, and clinical care mission.

There will be opportunities to advance some priorities, includ-

ing regulatory reform at research funding agencies and the

Department of Education, as well as Bay Area transportation

upgrades that are components of transportation infrastruc-

ture funding legislation. Still, the university continues to

confront the most challenging policy environment it has faced

in many years, with ongoing challenges related to research

support and related policy, college costs, endowments and

tax policy, health care, and immigration, among other areas.

Other key topics of importance to the university include

admission and financial aid policies, student services and

rights, campus sexual assault and campus safety, student-

athlete rights, privacy protection of research involving hu-

man samples, treatment of animals used in research, state

research funding, transportation, land use/zoning policies,

affordable housing, tax policies, and resources for nonprofit

organizations.

Several local government entities, most significantly Santa

Clara County and the City of Palo Alto, control how Stanford

strategically and thoughtfully uses its land and infrastructure

systems to serve its mission. Stanford’s application for a new

General Use Permit from Santa Clara County was submitted

in November 2016 and has proceeded through the initial stag-

es of the informal and formal processes, most importantly the

release of a draft Environmental Impact Report in October

2017. In 2018/19, public engagement will continue, and

community reactions to Stanford’s proposed development

will influence mitigation measures and other policy areas of

importance to local governments. The Santa Clara County

Board of Supervisors will probably make its final decisions in

late 2018 or early 2019, so this will be a high-priority focus

in 2018/19. Stanford will also participate in regional efforts

among public- and private-sector entities to address regional

transportation and housing challenges.


STANFORD ALUMNI ASSOCIATIONThe Stanford Alumni Association (SAA) projects $45.8

million in gross revenues and operating transfers and $46.2

million in total expenses in 2018/19, resulting in a reduction

of $355,000 in its consolidated fund balance. Reserve bal-

ances are projected to be $2.3 million at the end of 2018/19.

Business and program revenues, coupled with income from

lifetime membership and other endowment fund payouts, will

generate over 75% of SAA’s gross revenues. The remaining

revenues will come from base and one-time general funds.

Gross revenues and expenses remain relatively level with

2017/18 projections.

SAA’s internal revenue streams in 2017/18 have improved

over those in 2016/17. Despite ongoing world instability,

contributions from Travel/Study have rebounded, and those

from Stanford Sierra Programs have grown. SAA continues

to spend from reserves to support graduate-only student

and alumni engagement initiatives and infrastructure needs.

Internal reserves will also fund a digital content platform for

Stanford magazine stories. With operating cost pressures an

ongoing challenge, SAA remains focused on revenue growth

and cost savings across its portfolio.

With over 50% of the alumni body consisting of graduate-on-

ly alumni, SAA continues its strategic focus toward success-

fully engaging this segment, along with graduate-only stu-

dents. The general funds received in 2017/18 are supporting

expanded graduate-only programming, including Graduate

Alumni Day, a homecoming-style event to be piloted in May

2018. SAA is also working to increase engagement and con-

nection with graduate-only alumni through targeted digital

communications and content.

Another area of focus for SAA involves young alumni (alumni

one to ten years out), a demographic within which SAA has

identified some potentially concerning engagement trends.

While still highly engaged, the young-alumni segment is the

only demographic with negative engagement growth in the

past two years. One-time general funds received in 2018/19

will go toward testing program offerings designed to better

engage this segment. The lion’s share of these funds will

be focused on enhancing the young-alumni experience at

Reunion Homecoming, a key touchpoint for these alumni.

The balance will support freelance resources for digital

marketing and communications efforts that will address the

needs of both young and graduate-only alumni.

As the university has engaged in long-range planning,

SAA has conducted its own long-term strategic planning.

Offerings in support of SAA’s strategic directives—activate

community, ignite curiosity, and amplify impact—will further

the connection between alumni and the university as well as

grow alumni-to-alumni and alumni-to-student connections.

Technology upgrades are critical to SAA’s future success and

remain a top priority.

In support of this priority, the migration of the shared SAA/

Office of Development constituent database to a Salesforce

platform paves the path for both organizations to better serve

and meet the digital needs and expectations of alumni, do-

nors, staff, and campus partners. From targeted and dynamic

communications to digital content on topics and platforms

relevant to alumni, this technology overhaul will allow SAA to

connect with and engage an increasingly diverse alumni body.

SAA’s mission is unchanged—to reach, serve, and engage

all alumni and students; to foster a lifelong intellectual and

emotional connection between the university and its gradu-

ates; and to provide the university with goodwill and support.

SAA is confident the strategic investments discussed above

will deliver a significant return to the university in heightened

connection, increased engagement, and a stronger commu-

nity of alumni and students.

STUDENT AFFAIRSStudent Affairs, which comprises more than 25 offices that

provide undergraduate and graduate students with a range of

services, opportunities, and resources, began academic year

2017/18 under the leadership of a new vice provost, Susie

Brubaker-Cole. Its mission centers on “educating students

to make meaningful contributions as citizens of a complex

world.”

In 2018/19, Student Affairs projects total revenues and trans-

fers of $78.7 million and expenses of $80.4 million, resulting

in an operating deficit of $1.6 million. Total revenues and

transfers will decrease by 1.4%, or $1.1 million, from 2017/18

year-end projections. Total expenses will increase by less

than 1%, or $566,000, from 2017/18 year-end projections.

The operating deficit of $1.6 million will reduce fund balances

from $30.3 million to $28.7 million, with $1 million coming

from designated funds and $567,000 from expendable gifts.

Student Affairs’ decrease in revenue is in the area of re-

stricted revenue, which is projected to drop by $2 million.


A change in Vaden Health Center’s pharmacy model ac-

counts for $1.8 million of this decrease. Student Affairs’

total general funds allocation will increase by $851,000. Of

one-time general funds received in 2017/18, $1 million will be

converted to incremental base general funds in 2018/19. The

2018/19 budget plan includes $1 million in new general funds,

$330,500 in incremental base and $714,000 in one-time

funds. Operating transfers will remain the same.

This 2018/19 budget reflects a commitment to evolve and re-

focus the Student Affairs enterprise to respond to the univer-

sity’s most pressing student needs. To develop this focused

approach, Student Affairs engaged in an intensive inquiry

into how students have experienced Stanford in recent years.

Student Affairs has also engaged key university partners—the

offices of the Vice Provost for Undergraduate Education and

Vice Provost for Graduate Education, Residential & Dining

Enterprises, and the schools—to collectively advance themes

that have emerged from the long-range planning process.

It is clear that today’s student population is diverse and

comes from backgrounds and experiences richly different

from those of previous generations of Stanford students.

Accordingly, Student Affairs’ new general funds allocation is

focused on equity, inclusion, and belonging, the core condi-

tions required to create a climate in which all students thrive.

Together, three of Student Affairs’ core programs create a tru-

ly inclusive and equitable community. These programs, the

First-Generation and/or Low-Income Program, Inclusion and

Diversity Education, and the Stanford Community Centers,

work as a triad, a three-legged stool supporting integrative

learning across campus. These are Student Affairs’ areas of

highest priority, identified in its mission statement and its

articulation of its most important work.

Student Affairs’ work in the coming years will focus on the

following key themes and goals:

n Equity and Inclusion: Design experiences and systems to

ensure that students have equitable access to opportunity.

Engage students, faculty, and staff in critical thinking and

practice around identity, diversity, and inclusiveness.

n Community and Belonging: Foster experiences, relation-

ships, and environments to ensure that every student feels

a firm and abiding sense of belonging and contributes to

the good of our community.

n Mental Health and Well-Being: Develop and strengthen

the foundational conditions that support students to be

engaged, powerful learners.

n Integrative Learning: Enhance opportunities for students

to engage in purposeful learning that is mutually enhanc-

ing with the classroom.

n House in Order: Ensure that each department in Student

Affairs embodies excellence in its core functions.

UNIVERSITY COMMUNICATIONSThe Office of University Communications projects total

operating revenues and transfers of $7.1 million and expenses

of $7.1 million, resulting in a balanced operating budget. Total

revenues and transfers are budgeted to increase 12% from

$6.3 million in 2018/19, and total expenses are expected to

increase 13% from $6.3 million.

Under the office’s Strategic Communication Framework, its

broad objectives for 2018/19 include:

n Sharing the many contributions of Stanford people and

discoveries through authentic, compelling content to help

Stanford achieve even greater societal impact;

n Generating public and private support for Stanford, higher

education, and research through thought leadership, edu-

cation, and engagement with key constituents;

n Improving communications collaboration and capacity,

leveraging shared resources and emerging technologies to

amplify Stanford’s overall investment in communications;

n Strengthening community engagement through open,

transparent, and two-way communication that fosters

connection and a culture of trust, openness, and respect;

and

n Proactively developing strategies to help manage crises,

emergencies, and complex institutional issues.

Incremental base general funds allocated include funding

to support two strategic positions and a broad spectrum of

services provided by University Communications to the cam-

pus community, as well as resources to support a number of

university initiatives in 2018/19, such as:

n Conveying the need for ongoing federal support for re-

search and the value of innovation to economic growth;

n Highlighting the strength and importance of the humani-

ties and of student exposure to a broad, liberal education;

n Implementing the long-range planning effort and vision,

and its emerging priorities;


n Addressing issues of affordability, housing, student ser-

vices, and financial aid;

n Seeking to demonstrate the vital role and value of research

universities and higher education broadly;

n Conducting regional efforts to support the General Use

Permit process;

n Opening the Redwood City campus;

n Improving communication to students; and

n Welcoming the inaugural class of the Knight-Hennessy

Scholar program.

The Office of University Communications is at the intersec-

tion of virtually all activities that take place at the university.

It oversees all central internal and external communica-

tion programs for the university, including executive com-

munications; institutional media relations; primary Web,

mobile, digital, and social platforms; visual identity and

brand management; crisis response; and the Stanford News

Service, Stanford Report, and Stanford Video. University

Communications manages special programs such as a pilot

with Sirius XM radio, and shares management oversight of

Stanford Web Services jointly with University IT. The unit

manages university-wide communications policies, includ-

ing those on filming and photography, Web accessibility,

social media, visual identity, and use of the Stanford name. It

provides leadership, tools, guidelines, training, and resources

to the more than 600 decentralized communications profes-

sionals within campus units and the seven schools.

Decentralized communications offices rely upon University

Communications for strategic advice and execution.

University Communications also produces daily, high-quality

content about university discoveries and maintains its exist-

ing high-profile communications programs and channels.

The magnitude and impact of University Communications’

output are significant and growing as the university transi-

tions to self-publishing content and as audiences turn to the

Web and social platforms as their primary sources of news

and information. Stanford now reaches millions more people

on its own platforms than it does through mainstream media

organizations (which are declining). Content about Stanford

generated by University Communications reaches vast global

audiences of 60 million people monthly via central social

media channels; more than 9 million people annually via the

university home and news websites; 36,000 people through

the daily Stanford Report; and thousands of journalists, par-

ents, and community members via numerous other vehicles.

University Communications forecasts a modest consoli-

dated ending balance of $226,000, of which approximately

$154,000, or 68%, is in auxiliary operations, designated, and

endowment related expenditures.

UNIVERSITY HUMAN RESOURCESUniversity Human Resources (UHR) facilitates Stanford’s

mission of excellence in teaching, learning, and research by:

n Creating a work environment where people feel valued,

supported, and respected, and have the opportunity to

make meaningful contributions;

n Delivering programs that foster employee engagement

and performance; and

n Improving human resources administrative processes.

UHR units include Talent Management & Workforce Strategy,

Employee & Labor Relations, Client Services, Compensation,

Benefits (including Work Life Office, childcare centers, and

Faculty Staff Help Center), and HR Communications.

The 2018/19 consolidated budget shows revenues and oper-

ating transfers of $14.9 million and expenses of $16.3 million.

The budget plan commits $1.0 million of prior years’ opera-

tional savings as well as an estimated $360,000 in unspent

one-time funds at 2017/18 year-end to supplement revenues

and transfers. These funds will be used to support projects

critical to UHR’s strategic plan.

Considering the 2017/18 year-end projection, the current

progress of initiatives, and the 2018/19 budget plan, the

projected fund balance at the end of 2018/19 is $2.2 million

(70% operating reserve and 30% childcare centers desig-

nated reserve). These funds will maintain UHR’s ability to ad-

dress unforeseen emergencies; self-fund emerging same-year

initiatives; manage shortfalls due to fringe volatility; and meet

the university’s evolving priorities. Additionally, UHR will

continue to invest in priorities for Stanford’s childcare centers,

including expanding and relocating the Children’s Center of

the Stanford Community, supporting the operation of three

on-campus childcare centers by granting expense relief to the

third-party operator, and opening the new childcare center at

Stanford Redwood City.

UHR’s priorities follow its established three-year strategic

plan with the following focus areas:

Workforce Planning: Identify and plan for the workforce need-

ed, now and in the future, in alignment with strategic initiatives


and evolving needs—Following a workforce planning pilot with

the School of Engineering, data requirements and analytics

to assess workforce planning needs are now in place, and

analysis of critical positions is under way. Additional pilots

will be initiated in 2018/19.

Talent Attraction: Attract, recruit, and deploy a diverse work-

force of individuals who are highly qualified and motivated to

perform to their full potential and to contribute at the highest

levels—UHR completed a recruiting process assessment that

resulted in changes to recruiting services for high-volume and

hard-to-fill positions. The revised process includes shared

candidate pipelines. UHR is now optimizing the recruiting

system and enhancing key aspects of the recruiting process,

improving job-posting templates, providing interview train-

ing, and creating processes that support internal movement.

Talent Management: Build superior organizational capability by

developing and retaining people—UHR developed and is now

leading a change management strategy and plan to support

the university’s expansion to Stanford Redwood City and the

relocation of over 2,700 people to the new campus. UHR will

also launch two programs that are the foundation for talent

management efforts: a performance management process

for schools/academic units and manager development for

performance feedback.

Employee Engagement: Engage and reward staff, ensuring

employees feel connected to and involved with Stanford’s mis-

sion and community as well as valued for their contributions

and service—UHR’s emphasis on employee engagement will

integrate long-range planning initiatives that target the work

environment, employee development, benefits and rewards,

and community.

HR Excellence: Enhance HR capability and service excel-

lence—UHR assumed responsibility for protection of minors

and will continue efforts to communicate and manage this

program university-wide. UHR also published a new policy

on telecommuting and remote working with training and

communication toolkits, and will continue to support man-

agers and employees in implementing telecommuting and

remote working to help address long commutes and foster

work-life balance. UHR will also continue to optimize its

shared services model, improving access to as well as quality,

consistency, and efficiency of service.


MAJOR AUXILIARY UNITS

The budget lines for the School of Medicine, the Graduate School of Business (GSB), Humanities & Sciences

(H&S), the Vice Provost for Undergraduate Education (VPUE), and Stanford University Libraries (SUL)

include auxiliary revenues and expenses. These auxiliary operations include the Schwab Center of the

GSB, Stanford University Press in SUL, Bing Overseas Studies in VPUE, and Stanford in Washington and Bing

Nursery School in H&S. These items are separately identified in the schools’ consolidated forecasts in Appendix

A. The major independent auxiliaries are Athletics and Residential & Dining Enterprises (R&DE).

ATHLETICSIn fiscal terms, 2018/19 will be the first of several challeng-

ing years for the Department of Athletics, PE, and Recreation

(DAPER). DAPER projects a deficit of approximately $3.8

million in 2018/19 based on projected revenues of $139.9 mil-

lion and expenses of $143.7 million. A forecast of no growth

in revenues from 2017/18 is combined with a $3.6 million

(2.5%) expected increase in expenses. Significant decreases

in revenues are anticipated in two key areas (football ticket

sales and annual giving), offsetting the planned increases in

other revenue areas. DAPER’s consolidated budget covers

two distinct sets of activities: auxiliary operations ($132.9

million) and designated activities ($7.0 million).

Auxiliary Operations

Auxiliary operations encompass intercollegiate activities

($3.0 million deficit), financial aid ($2.7 million deficit), and

ancillary activities ($1.9 million surplus), with the surplus

from the third area helping to support the first two.

Intercollegiate Activities

Revenues and transfers from intercollegiate activities in

2018/19 are projected to be $81.6 million. Projected expens-

es are $84.6 million. The $3.0 million deficit is partly funded

through net income from ancillary operations, specifically the

golf course and camp operations. Intercollegiate revenues

and transfers are projected to be flat from 2017/18. A signifi-

cant decrease (approximately $1.8 million) in revenue from

football ticket sales due to a less favorable home schedule

and deflated ticket sales nationally, plus a $600,000 de-

crease in annual giving due to changes in tax deductibility of

seat-based gifts, will offset increases in revenue from broad-

casting ($1.1 million), Pac-12 Conference payout ($600,000),

and other areas. Expenses related to intercollegiate activi-

ties are expected to increase 2.9% due to a few key items.

Compensation expenses are increasing due to contractual

obligations, a planned generous salary program to match the

overall university program, and the impact of tax changes on

high-earning employees. Facility expenses continue to rise

due to expected utility rate increases and lack of a deferred

maintenance program. Finally, travel expenses for varsity

teams continue to rise.

Financial Aid

DAPER’s financial aid endowment continues to be a huge

asset to the department. However, financial aid expenses

are projected to exceed endowment payouts by $2.7 mil-

lion in 2018/19. Projected revenues are $24.2 million, and

projected expenses are $26.9 million. This compares to

projected 2017/18 revenues of $23.5 million and expenses of

$26.0 million. The 2018/19 budget provides approximately

340 scholarships that benefit over 500 student-athletes.

The increase in expenses is due primarily to general growth

in tuition and room and board rates, with no planned changes

to total scholarships awarded.

Ancillary Activities

Revenues and transfers from ancillary activities in 2018/19

are projected to be $27.1 million. These revenues comprise

general funds (primarily to support the Recreation and

Wellness area of the department), a contribution from the

university benefits pool (to support facilities open to all stu-

dents, faculty, and staff), and revenues from the golf course,

the equestrian center, the Stanford Campus Recreation

Association, and camp operations. Expenses related to

these activities are projected to be $25.2 million in 2018/19.

The golf course and camp operations produce a surplus of

approximately $1.9 million that supports the intercollegiate


side of DAPER’s operations. All areas of ancillary activities

are projected to have inflationary growth in revenues and

expenses over 2017/18 projections.

Designated Activities

DAPER’s designated activities consist primarily of camps,

which are mainly pass-through operations and not actively

managed by the department. The remaining activities gener-

ate revenues that are transferred to support auxiliary opera-

tions. Significant changes are not expected in any designated

activities in 2018/19. In total, both revenues and expenses

from designated activities are projected to be $7.0 million in

2018/19, equal to the 2017/18 projection.

RESIDENTIAL & DINING ENTERPRISES Residential & Dining Enterprises (R&DE) is a university aux-

iliary generating revenues primarily through room and board,

conferences, cafés, catering, a guest house, concessions, and

other enterprises. R&DE houses over 13,800 undergradu-

ate and graduate students and their dependents and serves

approximately 6 million meals annually, while providing

stewardship for 5 million square feet of physical plant. R&DE

supports the university’s academic mission by providing high-

quality services to students and the Stanford community in a

sustainable and fiscally responsible manner. R&DE ensures

critical facility needs for life safety and code compliance are

met while maintaining safe, comfortable, and contemporary

living and dining spaces.

The 2018/19 budget plan projects a break-even auxiliary

budget with total revenues and net transfers of $272.8 mil-

lion to offset related expenses. The consolidated budget

plan also includes a planned use of reserves of $1.0 million to

fund partial debt service on the Escondido Village Kennedy

Residences.

The 2018/19 combined undergraduate room and board rate

increase is 4.3% (5.5% room and 2.5% board), while the

graduate housing room rent rate increase is 4.75%. Overall

room and board revenues are projected to increase by $8.5

million. Combining these revenues with others, R&DE total

auxiliary revenues (excluding transfers) for 2018/19 are pro-

jected to increase by $10.1 million (4.2%) over the prior-year

projection.

R&DE plans to use the projected increases in revenues along

with continued efficiencies in operations to enhance the

preventive maintenance program, increase the funding of

its asset renewal program to support life cycle replacement

of infrastructure items, expand its apprenticeship programs

for the development of trades staff, fund debt service on new

and renovated facilities, and address inflationary impacts on

operating costs.

The 2018/19 budget plan reflects incoming transfers to fund

certain debt service related to R&DE’s capital plan and to help

maintain room rental rates at reasonable levels vis-à-vis the

local community. The plan also includes revenues, expenses,

and additional offsetting transfers in to provide more housing

for students at campus rates in the local community. In addi-

tion, the plan includes strategic funding to support residential

living and learning; R&DE plans to transfer out approximately

$11.4 million to Residential Education, Residential Computing,

the Graduate Life Office, and Summer Sessions, among oth-

ers.

R&DE continues to make significant investments in its physi-

cal plant. R&DE has developed a long-range capital plan and

planned maintenance program to address its facility renewal

needs, with planned expenditures of $40.2 million in 2017/18

and $45.0 million in 2018/19, as well as additional invest-

ments in future years, for a variety of renovation projects.

R&DE has also initiated a plan to address a backlog of de-

ferred maintenance across residential and dining facilities.

The long-range capital plan and deferred maintenance back-

log plan both address life safety system upgrades to meet

current code; interior and exterior restorations; and window,

roof, plumbing, mechanical, and electrical replacements

across the student housing and dining system.

Stanford is in the construction phase of building additional

graduate housing in Escondido Village. This housing will

include approximately 2,400 new bed spaces, replacing

approximately 400 bed spaces that were demolished, for a

net increase in graduate living of approximately 2,020 bed

spaces.

R&DE operates in a dynamic and changing environment;

therefore, it is essential that it plans for uncertainties. It does

this by constantly pursuing excellence, diversifying revenue

sources, managing costs, mitigating risk, increasing internal

controls, driving business results, and maintaining appropri-

ate reserves.


67CAPITAL PLAN AND CAPITAL BUDGET

CHAPTER 4

CAPITAL PLAN AND CAPITAL BUDGET

At over $4.1 billion, the Capital Plan reflects one of the larg-

est capital programs in Stanford’s history. It demonstrates

the significant investment Stanford continues to make in

its facilities, driven by the academic priorities for teaching,

research, and related activities, described in Chapter 2, and

the initiatives of the administrative and auxiliary units that

support the academic mission, described in Chapter 3. It also

demonstrates Stanford’s commitment to student and faculty

housing, with 55% of the plan allocated to building, acquiring,

or renovating new and existing housing inventory. Significant

examples of this commitment are the $1.2 billion Escondido

Village (EV) Graduate Residences, which will increase the

graduate student housing stock by 2,020 net new beds, and

the $500 million Housing Acquisition Initiative (HAI) for

faculty and staff.

With the 2017/18 project completions, Stanford will have

invested over $6 billion in its facilities, infrastructure, and

commercial real estate since 2000. Across the campus,

aging facilities have been replaced with new and renovated

buildings capable of supporting cutting-edge science, engi-

neering, medicine, and collaborative research, joined by new

facilities for business, athletics, law, and the arts. Off-campus

commercial development projects provide additional income

to the university.

In addition to the many projects currently under way and

previously forecasted, the Capital Plan now includes the

following new projects: a new Undergraduate Housing and

Dining complex ($196 million), the final phase of the Stanford

Auxiliary Library ($24.2 million), tenant improvements at

1701 Page Mill Road ($24 million), and interior and exterior

improvements to a heritage house ($7 million).

The following nine significant projects make up 84%

of Stanford’s Capital Plan: the EV Graduate Residences

($1,160.6 million), Stanford Redwood City Phase 1 ($568.8

million), the Housing Acquisition Initiative ($500 million),

the Neuro/ChEM-H (Chemistry, Engineering & Medicine

for Human Health) Research Complex ($257 million),

Center for Academic Medicine 1 (CAM 1) ($222 million),

BioMedical Innovations Building 1 and Connective Elements

(BMI 1) ($210 million), a new Undergraduate Housing and

Dining complex ($196 million), University Terrace Faculty

Homes ($180 million), and Middle Plaza at 500 El Camino

Real Residential ($154.6 million). The remaining 16% of the

Capital Plan comprises 15 projects and 6 infrastructure pro-

grams. For a detailed listing of all Capital Plan projects and

programs, see the tables on pages 80–82.

The Capital Budget for 2018/19 is $1.2 billion and includes

anticipated expenditures with a principal focus on housing

and Stanford Redwood City.

The Capital Plan accounts for long-term budget impacts

on operations and maintenance (O&M), utilities, and debt

service. These obligations are included in the university’s

long-range budget planning.

This chapter first provides an overview of the capital planning

process, then describes current strategic initiatives, which

gives context to the subsequent report on the 2018/19-

2020/21 Capital Plan and its related constraints, and finally

concludes with a discussion on the 2018/19 Capital Budget

and its impact on 2018/19 operations.

Stanford’s 2018/19–2020/21 Capital Plan and 2018/19 Capital Budget are based on projections of the major

capital projects that the university plans to pursue in support of its academic mission. The rolling Capital

Plan includes projects that are in progress or are expected to commence during the next three years. The

Capital Budget represents the anticipated capital expenditures in the first year of the three-year plan. Both the

Capital Plan and the Capital Budget are subject to change based on funding availability, budget affordability, and

university priorities.

68 CAPITAL PLAN AND CAPITAL BUDGET

CAPITAL PLANNING OVERVIEW

CAPITAL PLANNING AT STANFORDStanford’s Capital Plan is a three-year rolling plan with com-

mitments made for projects with fully identified and approved

funding. Cash flow expenditure forecasts for these projects

extend beyond the three-year period, and budget impacts on

O&M and debt service will commence at project completion.

The plan includes forecasts of both cash flow and budget

impacts by year, as well as the impacts of projects beyond

the three-year period (see tables on page 74).

The Capital Plan is set in the context of a longer-term capital

forecast. The details of this forecast, particularly funding

sources and schedules, are less clear than those of the three-

year plan, as the needs and funding sources that may emerge

over the long-term horizon are difficult to anticipate. Plans

tend to evolve as some projects prove more feasible than

others based upon shifting funding realities and academic

priorities.

This year’s capital planning process includes a new category

of focused project studies, through which program priorities

and associated scope, schedule, and funding strategies will

be evaluated and proposed. The outcomes of these stud-

ies could determine future capital projects that support the

academic and research needs of the university. Schools and

units that have significant project studies identified include

the Graduate School of Education, the School of Engineering,

the Graduate School of Business, the School of Earth, Energy

and Environmental Sciences, the School of Humanities and

Sciences, Stanford Medical Center, the Hoover Institution,

the Dean of Research, and the Department of Athletics,

Physical Education, and Recreation. Concurrently, university

leadership is in the process of a comprehensive long-range

planning (LRP) effort. The broad vision resulting from the LRP

may include innovations in research, teaching, campus life,

and community outreach that may influence these studies

and other facility needs. In addition, the university is in the

process of negotiating a new General Use Permit with Santa

Clara County to obtain entitlements to facilitate future initia-

tives to be planned and implemented.

The outcomes of the various studies will enable university

leadership to prioritize future capital projects based on pro-

gram need, square footage allocation requests, availability of

funding, and alignment with the LRP effort.

STRATEGIC INITIATIVESThe following university strategic initiatives are integral to

this year’s Capital Plan:

n Stanford Redwood City

n EV Graduate Residences

n General Use Permit

n Growth and transportation

n Campus circulation and parking

Stanford Redwood CityStanford Redwood City is under construction, with planned

occupancy commencing in February 2019. Consistent with

the strategic development envisioned upon the 2005 acqui-

sition of the Redwood City property, select administrative

staff will relocate to this site in order to preserve core cam-

pus space for the university’s highest academic priorities.

Stanford Redwood City gives the university an opportunity

to provide its administrative staff with an outstanding, sus-

tainable, and healthy workplace environment. This new

campus will comprise Class A office buildings, conference

and dining facilities, a fitness center with lap pool, and a

child care center. A 2.5-acre park, multiple courtyards, and

a greenway connecting the entire campus will create an at-

tractive setting. Chapter 1, page 14, provides more details on

this strategic project, including university budget impacts of

the new campus.

EV Graduate ResidencesStanford’s bold commitment to build a 1.8-million-square-

foot (sf) residential complex with 2,434 new graduate beds

(2,020 net of demolitions) addresses a critical need to pro-

vide additional graduate student housing on campus in an

undersupplied and escalating housing market.

The new complex will primarily house single graduate stu-

dents, although units will be available for couples without

children. The apartments will be similar to the premium

studios, two-bedroom suites, and junior studio suites offered

in the neighboring Kennedy Graduate Residences. The four

new residence halls will each provide lounges, huddle rooms,

laundry rooms, exercise areas, and music practice spaces.

In addition to housing students, a primary objective of this

project is to provide opportunities to build a vibrant sense of

community among the graduate students and to encourage


strong connections to the campus. The two-story market

pavilion, entry tower, and associated arcaded court will face

the campus and define an inviting gateway into Escondido

Village from the terminus of Serra Mall. These community

gateway components, which will include a café/bar, a grand

lounge, and a mini-market for online shopping and pickup,

will also provide a relaxed architectural scale that tempers

the height of the residential wings. The arcaded court and

hardscape, as well as the more casual commons space, will

support programs that will serve as the hub for graduate life.

The central commons will face and engage the existing EV

greenway and include a number of features to engage the

community (outdoor seating for socializing and eating, event

space, coffee cart, art, etc.).

This project includes two new underground parking structures

(adding 750 net new parking spaces) to support the graduate

students and community. Manzanita Garage, located across

Campus Drive from the EV Graduate Residences, will house

860 parking spaces, with passive and active recreation space

above. The EV parking structure, to be constructed along

Serra Street, will house 315 parking spaces, with additional

spaces above to accommodate Americans with Disabilities

Act requirements, loading, and service.

The construction of the EV Graduate Residences and parking

garages is under way, with occupancy targeted for fall 2020.

General Use PermitStanford has submitted an application to Santa Clara County

for an updated General Use Permit to guide campus planning

over the next two decades. This permit is known as the “2018

General Use Permit” because approval is expected in 2018.

Stanford has been operating under two key Santa Clara

County entitlement documents: a Community Plan and a

2000 General Use Permit. The Community Plan provides

a set of rules and policies to guide the university’s land use

planning over an extended period of time. The General Use

Permit implements those policies and includes specific con-

ditions to minimize the impacts of Stanford’s development.

The Community Plan and 2000 General Use Permit were

intended to provide Stanford with flexibility in its land use

within an agreed-upon framework, with accountability to the

county, neighbors, and the campus communities. Stanford’s

application for the 2018 General Use Permit includes a devel-

opment request for 2.275 million sf of academic facilities and

3,150 housing units/student beds, with construction expected

to be completed by 2035. This next General Use Permit will

help Stanford address emerging teaching, research, and hous-

ing needs over this time period.

Growth and TransportationReduction of single-occupancy-vehicle trips to the campus

and other Stanford lands is likely the most difficult chal-

lenge to overcome as the University grows. Though Stanford

has a tremendous track record with its award-winning

Transportation Demand Management (TDM) programs,

it must do more, not only for the core campus but also for

other Stanford lands as the university and the surrounding

areas continue to grow. Informed by extensive studies con-

ducted in consultation with multiple transportation experts

as well as an innovative transportation mode choice model,

Stanford has developed a list of feasible actions and initiatives

to reduce travel by single-occupancy vehicles. The regional

services and infrastructure are at peak time capacity, and no

“silver bullet” exists to solve this regional problem. Stanford

will continue to focus on TDM efforts for the Stanford popu-

lation, working collaboratively with large private employers,

neighbors, local agencies, and transportation specialists to

identify and implement incremental programs that mitigate

traffic impacts and improve the regional network. Stanford

will also continue recent efforts to support and facilitate de-

velopment of regional solutions, such as the Caltrain Business

Plan and the US 101 Managed Lanes project, as well as local

solutions, such as the Peninsula Bikeway. The University is

now engaged in a number of land use planning efforts focused

on future growth. The studies include strong emphases on

major circulation patterns and transit system options as well

as on identifying how land use choices can optimize transpor-

tation and TDM options.

Campus Circulation and ParkingAs Stanford continues to expand its core campus footprint as

well as increase its density, campus planners have identified

alternatives for improving circulation, reducing congestion,

and promoting safety. The measures that the university has

prioritized will have positive impacts on campus circulation

and service, vehicular traffic, and the safety of bicyclists and

pedestrians.


East Campus Circulation Circulation and parking will be reconfigured on the east cam-

pus to accommodate significant capital projects including the

EV Graduate Residences, the Public Safety Building, and the

Emergency Operations Center & Electronic Communications

Hub (EOC/ECH). The components of the work in this area

include the following:

l Campus Drive/Serra Street Roundabout—The

roundabout will replace two separate existing inter-

sections, improve pedestrian crossings, and reconfig-

ure the barrels of Campus Drive with dedicated bike

lanes and a uniform landscaped median.

l Serra Mall Closure—The plan to close Serra Mall

from Galvez Street to Campus Drive for pedestrians,

bikes, and shuttles requires the completion of “en-

abling” projects including reconfigured service areas

and parking at Encina Hall, service improvements

at Burnham Pavilion, and a new drop-off at Schwab

Graduate Residences. These projects are important

because Serra Mall is the primary path for infrastruc-

ture improvements for the major capital projects on

the east side of campus.

l Serra Street Reconfiguration—Enhancements

planned on Serra Street from Campus Drive to El

Camino include improving vehicular lanes, reconfigur-

ing intersections and pedestrian crossings, upgrading

bike lanes, and adding transit and drop-off areas.

l Manzanita Garage—This facility will build on the

best practices of the Wilbur and Roble parking struc-

tures, with parking below grade and a recreation field

above. The 860 new spaces will support, in part, the

needs of the EV Graduate Residences.

l EV Parking Structure—This below-grade facility

along Serra Street will include 315 spaces, with ad-

ditional parking above. Together, the Manzanita and

EV underground parking structures and surface park-

ing will provide 750 net new parking spaces.

l Bonair Siding Road—To provide safe access to the

new Public Safety Building and EOC/ECH, Bonair

Siding Road will be reconfigured to include appropri-

ate vehicular lanes, bike lanes, sidewalks, and lighting.

West Campus CirculationModifications to circulation on the west side of campus will

accommodate the future Neuro/ChEM-H Research Complex,

CAM 1, and the soon-to-be-completed Bass Biology Building.

The components of this work include the following:

l Serra Mall Extension—To promote connections,

improve pedestrian safety, and facilitate Marguerite

shuttle circulation, Serra Mall will be extended to

an improved intersection at Foundations Way and

Campus Drive.

l Via Pueblo Extension—To facilitate service, Via

Pueblo will be extended from Via Ortega to Panama

Street.

l North/South Axis—Improvements to the North/

South Axis from Serra Mall to Roth Way will provide

a safe bike/pedestrian connector.

l New Parking Structure—827 new parking

spaces (585 net new) will be constructed below the

CAM 1 building.

Roundabouts The roundabouts constructed at the intersections of Campus

Drive/Escondido Road, Campus Drive/Bowdoin Street,

Campus Drive/Santa Teresa Street, and Campus Drive/

Galvez Street are evidence of how vehicular circulation, as

well as bicycle and pedestrian safety, can be improved. In

addition to the ongoing construction of the Campus Drive/

Serra Street and Galvez Street/Arboretum Road roundabouts,

which are key components of the east campus improve-

ments, the design of additional roundabouts at Campus

Drive/Quarry Road, Campus Drive/Palm Drive, Campus

Drive/Mayfield Avenue, and Campus Drive/Roth Way will

be studied.

THE CAPITAL PLAN, 2018/19–2020/21Stanford’s academic campus, including the School of

Medicine (SoM) but excluding the hospitals, has nearly 700

facilities providing over 18.4 million sf of space, including

approximately 4.8 million sf for student housing units and

2.4 million sf for parking structures. The physical plant has a

historical cost of $10.1 billion and an estimated replacement

cost of $12.6 billion.

The Capital Plan includes a forecast of Stanford’s annual

programs to restore, maintain, and improve campus facilities

for teaching, research, housing, and related activities and


outlines Stanford’s needs for new facilities. The Capital Plan

is compiled, reviewed, and approved in a coordinated manner

across the university. The plan carefully balances institutional

needs for new and renovated facilities with the challenging

constraints of limited development entitlements, available

funding, and budget affordability.

Projects listed in the Capital Plan are those approved by the

provost. In addition, the Board of Trustees oversees projects

meeting the following criteria:

n Projects with a total cost of $25 million and above,

n New building construction (including faculty housing), and

n Changes in land use.

Projected expenditures under the 2018/19-2020/21 Capital

Plan, which includes major construction projects in various

stages of development, numerous infrastructure projects

and programs, and a housing acquisition program, total $4.1

billion. The table below provides a comparison of the current

Capital Plan with the last two.

COMPARATIVE CAPITAL PLANS[IN MILLIONS OF DOLLARS] 2018/19 2017/18 2016/17

Design/Construction 2,931.7 2,890.7 2,213.5

Forecasted 340.1 608.5 1,062.1

Infrastructure and HAI 840.4 779.7 809.0

Total 4,112.2 4,278.9 4,084.6

This year’s plan is $166.7 million (4%) lower than last year’s.

Projects no longer included in the current plan—because they

are being completed in 2017/18 or reevaluated as studies—

more than offset projects added to the plan.

PROJECTS IN DESIGN AND CONSTRUCTIONProjects in design and construction total $2.9 billion (71% of

the plan). Construction of these projects is contingent upon

fundraising of $90.5 million (3%). This category comprises

15 projects, as shown in the table on page 80.

The cost of projects in design and construction increased by

$41 million from 2017/18 as a result of the advancement of

projects from the forecasted category and budget increases,

partially offset by project completions. Projects moving from

the forecasted to the design and construction stage include

Middle Plaza at 500 El Camino Real—Residential ($154.6

million), the EOC/ECH ($20.1 million), and the Cabrillo-

Dolores Faculty Homes ($18.4 million). Projects scheduled

to be completed in 2017/18 and thus excluded from the plan

include the Anne T. and Robert M. Bass Biology Research

Building and associated projects ($152.2 million), Denning

House ($23.1 million), Durand Renovation ($17.4 million),

and the Schwab Residential Center Renovation ($13.1 million).

FORECASTED CONSTRUCTION PROJECTSForecasted projects are those anticipated to receive Board of

Trustees approval over the next three years. These projects

total $340.1 million (8% of the plan) and are listed on page

81. Like those in design and construction, these projects are

contingent upon funding. For this group, $77 million (23%)

remains to be fundraised, and $107.9 million (32%) of funding

has yet to be identified.

Project costs within this category have decreased by $268.4

million from 2017/18. A number of projects have moved

into the design and construction category, as noted above.

Others have been re-categorized as studies. This decrease

is partially offset by new projects added to this year’s Capital

Plan, including an Undergraduate Housing and Dining com-

plex ($196 million).

INFRASTRUCTURE PROGRAMSStanford’s ongoing efforts to renew its infrastructure are

reflected in a budget of $340.4 million (8% of the plan) and

are listed on page 82. Costs for infrastructure programs have

increased by $60.7 million from last year.

Infrastructure programs include the Investment in Plant

(Planned Maintenance) Program, the Capital Utilities

Program (CUP), the Stanford Infrastructure Program (SIP),

redevelopment of networking and communications infrastruc-

ture in the east campus, upgrades to information technology

and communications systems, and the Residential & Dining

Enterprises (R&DE) Major Renovation Plan. SIP projects are

funded through construction project surcharges. The other

projects are funded by central funds, debt, and/or service

center charge-out rates.


Investment in Plant (Planned Maintenance) ProgramAnnual Investment in Plant assets represent the mainte-

nance funds planned to be invested to preserve and optimize

Stanford’s existing facilities and infrastructure (e.g., pathways,

outdoor structures, and grounds). These projects are based

on life cycle planning, the key concept being that life expec-

tancies of facility subsystems are known and, as a result,

maintenance schedules can be predicted. The three-year

estimated program cost is $169.9 million.

Capital Utilities ProgramThe $72.4 million, three-year CUP plan will improve the

Central Energy Facility as well as the heating, cooling, electric,

domestic water, lake water, sewer, and energy systems. The

CUP covers expansion of systems as required by campus

growth ($41.6 million) and renewal of systems that are near

the end of their useful life ($30.8 million). The expansion

total includes $21.6 million to fund utilities projects related

to the EV Graduate Residences.

Stanford Infrastructure ProgramSIP consists of campus and transportation projects and

programs for the improvement and general support of the

university’s academic community, hospitals, and physical

plant. SIP expenditures are expected to total $57.4 million

over the next three years (excluding funding for replacement

parking spaces). This year’s plan includes roundabouts, the

Serra Mall closure, and infrastructure projects related to EV

Graduate Residences, in addition to annual SIP program ele-

ments.

East Campus Networking and Communications RedevelopmentSignificant portions of the university’s networking and com-

munications systems, including two ECHs, underground con-

duits and cabling, and networking equipment, will have to be

replaced, relocated, and/or substantially upgraded to support

the EV Graduate Residences and other planned development

in the east campus. The total cost of $15 million for this

project is in addition to the annual upgrades to information

technology and communications systems below.

Information Technology and Communications SystemsThe university’s computing and communications systems

provide comprehensive data, voice, and video services to

the campus community. Over time, these systems must be

improved and/or replaced to maintain a consistently high

level of service. Additionally, new technologies provide more

efficient, faster, and/or more cost-effective solutions. Planned

upgrades to these critical university systems total $14.9 mil-

lion, including $2.4 million to replace systems at two ECHs.

R&DE Major Renovation Plan This R&DE program addresses health and safety issues,

seismic upgrades, code compliance, energy conservation

and sustainability, and major programmatic improvements

in the student housing and dining physical plant. Projects

anticipated over the next three years total $10.8 million and

include phased installation of new sprinklers and fire alarm

systems in Escondido Village high-rise and low-rise housing.

Completed projects will be maintained through the Stanford

Housing, Dining, and Hospitality Asset Renewal Programs.

HOUSING ACQUISITION INITIATIVE Established in 2014, the HAI reflects the high priority that

Stanford places on its ability to provide affordable housing

options for existing and prospective faculty and staff. In rec-

ognition of this critical need, the Board of Trustees approved

$500 million in funding this program. To date, the HAI has

expended $246 million in acquiring various for-sale and rental

properties for faculty and staff.

OTHER STANFORD ENTITIESIn an effort to present a comprehensive view of university-

planned construction, the capital planning process has

included Stanford’s commercial real estate investments,

Stanford Health Care (SHC), Lucile Packard Children’s

Hospital (LPCH), and SLAC National Accelerator Laboratory.

Although the tables at the end of this chapter do not include

these capital projects, brief descriptions of the real estate,

SHC, and LPCH capital programs follow. The SLAC capital

programs are addressed in Chapter 2.


Real EstateThe Real Estate department, part of Stanford’s Land, Buildings

& Real Estate unit, is managing seven projects totaling $1.2

billion in various stages of planning and development on

Stanford lands. Three of these projects—3181 Porter Drive,

3406 Hillview, and the office component of Middle Plaza—

will provide the university with income. Academic projects

managed by Real Estate include Stanford Redwood City Phase

1 and three housing developments: University Terrace Faculty

Homes in Palo Alto, the residential portion of Middle Plaza in

Menlo Park, and the Cabrillo-Dolores residences in the faculty

subdivision. University Terrace is providing 180 single-family

and condominium homes for faculty purchase, and faculty be-

gan moving into some of the homes in 2017. Cabrillo-Dolores

and Middle Plaza are scheduled to break ground in late 2018

and will add 223 housing units.

Stanford Health Care and Lucile Packard Children’s HospitalStanford Medicine’s Renewal Project includes the develop-

ment of approximately 1.3 million sf of net new hospital,

clinic, and medical office space on the main medical campus

and the Hoover medical campus. The project received devel-

opment entitlements from the City of Palo Alto in 2011, and

significant project milestones have been achieved since that

time. Major utility upgrades to serve the new medical facili-

ties have been completed along Welch and Quarry Roads. All

improvements on the Hoover medical campus are complete,

including the renovation of the historic Hoover Pavilion, the

construction of a new 1,070-car parking structure, and the

construction of a 92,000-sf Neuroscience Health Center,

which opened for patient care in January 2016. On the main

medical campus, the $1.4 billion LPCH expansion is sub-

stantially complete, and the facility opened for patient care

in December 2017. Completion of approximately 75,000 sf

of shelled space within the new LPCH building is anticipated

in 2019. Construction of the new SHC pavilions continues

to progress, with interior finish work, building systems test-

ing, and site work currently under way. The SHC project is

estimated to cost $2.1 billion, with completion anticipated

in late 2019.

OVERALL SUMMARYA table summarizing the 2018/19-2020/21 Capital Plan ap-

pears on the next page. The expenditures necessary to com-

plete the three-year Capital Plan are anticipated to extend

beyond 2020/21. To differentiate between the estimated

costs of the plan and the forecasted spending to complete

projects and programs, an additional table (Capital Plan Cash

Flows) forecasts the Capital Plan expenditure cash flow based

on project and program schedules.

O&M and debt service costs for each project will impact

the university’s budget once construction is substantially

complete. Although the Capital Plan Summary shows the

full budget impacts of all completed projects, it is important

to note that these impacts align with the project completion

schedule and will therefore be absorbed by the university

budget over a period beyond the three-year plan. The Capital

Plan Impact on Budget table forecasts these budget impacts

by area of responsibility (e.g., general funds, formula schools).

The tables at the end of this chapter provide a detailed list of

the projects included in the Capital Plan.

The following sections address Capital Plan funding sources

and uses, along with resource constraints.

Capital Plan Funding SourcesAs the pie chart on page 75 shows, Stanford’s Capital Plan

relies on several funding sources, including current funds,

gifts, and debt. Depending upon fundraising realities and

time frames, some projects will prove more difficult than

others to undertake. As a result, it is possible that projects in

the Capital Plan will have to be canceled, delayed, or scaled

back in scope.

For any projects relying on gifts to be raised, the Office of

Development has determined that fundraising plans are

feasible, although the time frames for the receipt of gifts are

subject to change. “Resources to be identified” are expected

to come from a combination of school, department, and uni-

versity reserves, as well as other sources.


SUMMARY OF THREE-YEAR CAPITAL PLAN 2018/19-2020/21[IN MILLIONS OF DOLLARS] PROJECT FUNDING SOURCE

GIFTS UNIVERSITY DEBT ANNUAL CONTINUING COSTS

SERVICE ESTIMATED CAPITAL CENTER/ RESOURCES PROJECT BUDGET CURRENT IN HAND OR TO BE AUXILIARY ACADEMIC TO BE DEBT OPERATIONS & COST 2018/19 FUNDS 1 PLEDGED RAISED DEBT DEBT OTHER IDENTIFIED 2 SERVICE MAINTENANCE 3

Projects in Design & Construction 2,931.7 1,010.5 695.7 471.9 90.5 866.4 655.0 152.2 67.7 56.2

Forecasted Projects 340.1 55.3 26.6 5.1 77.0 84.1 39.4 107.9 8.4 1.0

Total Construction Plan 3,271.8 1,065.9 722.3 477.0 167.5 950.5 694.4 152.2 107.9 76.1 57.2

Infrastructure Programs and HAI 840.4 172.0 477.3 343.1 20.0 20.1

Total Three-Year Capital Plan 2018/19-2020/21 4,112.2 1,237.8 1,199.6 477.0 167.5 1,293.6 714.4 152.2 107.9 96.3 57.2

1 Includes funds from university and school reserves and the GUP and SIP programs.2 Anticipated funding for this category is through a combination of school, department and university reserves and other sources.3 Operations & Maintenance includes planned and reactive/preventive maintenance, zone management,

utilities, contracts, grounds and outdoor lighting.

CAPITAL PLAN CASH FLOWS[IN MILLIONS OF DOLLARS] 2017/18 & 2021/22 & PRIOR 2018/19 2019/20 2020/21 THEREAFTER TOTAL

Projects in Design & Construction 1,219.9 1,010.5 590.8 84.2 26.3 2,931.7

Forecasted Projects 8.0 55.3 98.6 119.5 58.7 340.1

Total Construction Plan 1,227.9 1,065.9 689.4 203.7 85.0 3,271.8

Infrastructure Programs and HAI 286.8 172.0 145.9 123.7 112.0 840.4

Total Three-Year Capital Plan 2018/19–2020/21 1,514.7 1,237.8 835.3 327.4 197.0 4,112.2

CAPITAL PLAN IMPACT ON BUDGET[IN MILLIONS OF DOLLARS] 2021/22 & 2019/20 2020/21 THEREAFTER TOTAL

Debt Service General Funds 23.7 1.8 11.4 37.0 Formula and Other Schools 14.3 4.8 0.7 19.9 Auxiliary 0.7 30.6 6.1 37.4

Other1 1.0 0.8 0.2 2.0

Total Debt Service 39.7 38.1 18.5 96.3

Operations and Maintenance General Funds 21.5 (1.9)2 0.6 20.2

Formula and Other Schools 13.5 4.6 18.1

Auxiliary 0.4 14.5 4.0 18.9

Total Operations and Maintenance 35.4 17.2 4.6 57.2

1 Primarily the hospitals along with Forsythe facility, Faculty Staff Housing, and outside entities. 2 Include credits due to demolitions.


Uses of Funds by Program Category and Project TypeThe middle chart below divides Capital Plan activity into

program categories. The largest is Housing, at 55% of the

plan; Academic/Research and Academic Support are both

at 18%. The bottom chart breaks out the same activity into

project types, including New Construction, Renovations, and

Infrastructure.

THE CAPITAL PLAN 2018/19-2020/21 $4.1 BILLION

Service Center/Auxiliary Debt

31%

Academic Debt17%

Gifts to be Raised

4%

Current Funds29%

Resources to be Identified3%Other 4%

Gifts in Hand or Pledged

12%

Infrastructure8%

Housing55%

Academic Support

18%

Athletics/Student Activities

1%

Academic/Research18%

Sources of Funds

Uses of Funds by Program Category

Infrastructure 8%Renovations 3% New

Construction89%

Uses of Funds by Project Type

CAPITAL PLAN CONSTRAINTS

AffordabilityThe incremental internal debt service expected at the

completion of all projects commencing in the three-year plan

period (completion dates range from 2017/18 to 2024/25)

totals $96.3 million annually (excluding debt service for

bridge financing the receipt of gifts and operating lease

payments). Of this amount, $37 million will be serviced by

general funds, $19.9 million by the formula schools, and $39.4

million by auxiliary and other operations. Service center debt

is funded through rates paid by customers and has been al-

located and included in the totals for general funds, formula

schools, auxiliary operations, and other operations.

The additional O&M costs expected at the completion of all

projects commencing in the three-year period total $57.2 mil-

lion per year. Of this amount, $20.2 million will be serviced

by general funds, $18.1 million by the formula schools, and

$18.9 million by auxiliary and other operations. O&M and

debt service on capital projects compete directly with other

academic program initiatives for funding allocations.

Debt CapacityAs of May 1, 2018, $633 million of bond proceeds are avail-

able to finance capital projects and faculty mortgages, includ-

ing $6 million of unexpended tax-exempt bond proceeds, and

$627 million of unexpended taxable bond proceeds. Interim

financing facilities totaling $500 million of taxable commer-

cial paper, $300 million of tax-exempt commercial paper, and

$440 million of undrawn lines of credit are also available. In

addition, during the remaining months of fiscal year 2017/18

through the end of 2018/19, $91 million in internal amortiza-

tion proceeds on debt-funded projects will become available

to lend to projects, and $136 million in forecasted pledge and

other payments will retire debt issued to bridge finance the

receipt of gifts and cost of construction.

The three-year Capital Plan will require a total of $1.7 billion

of debt for projects under construction or for projects to be

approved in or before 2018/19:

n $1,051 million to complete projects already approved or

under construction;

n $378 million for projects to be approved in 2018/19; and

n $253 million to bridge finance the receipt of gift pledges

for projects approved or under construction.


Additional debt may be required to finance the Faculty Staff

Housing program. Fiscal year to May 1, 2018, the portfolio of

debt-subsidized mortgages had increased by $61.2 million

over the prior year to $586 million.

Projects identified in the three-year Capital Plan and to be

approved after 2018/19 will require an additional $180 million

in debt. Debt for these projects has not been committed, and

allocations will be evaluated in the context of debt capacity,

affordability, viability of the funding plan, and GUP limitations.

EntitlementsThe main Stanford campus encompasses 8,180 acres in six

jurisdictions. Of this total, 4,017 acres, including most of

the central campus, are within unincorporated Santa Clara

County.

In December 2000, Santa Clara County approved a General

Use Permit that allows Stanford to construct up to 2,035,000

additional gross sf of academic-related buildings on the core

campus and up to 3,018 new housing units. An additional

1,450 housing units were approved on March 24, 2016, pursu-

ant to General Use Permit Condition F.7, raising the housing

allocation to 4,468 housing units. This additional approval

accommodates the EV Graduate Residences.

Conditions of approval included the following:

n Creation of an academic growth boundary to limit the

buildable area to the core campus for a minimum of 25

years;

n Approval of a sustainable development study (SDS) before

new construction exceeds 1 million gross sf (Santa Clara

County approved the SDS in April 2009); and

n Construction of 605 units of housing for each 500,000

gross sf of new academic building.

Given the stringent requirements imposed by the General

Use Permit and the increasingly difficult entitlement envi-

ronment, Stanford carefully manages the allocation of new

growth. Construction through 2016/17 accounted for 1.4

million General Use Permit sf. The 2018/19-2020/21 Capital

Plan includes 468,590 General Use Permit sf currently in

design and construction and due to demolitions, a credit of

64,900 General Use Permit sf in forecasted projects. With

the completion of planned housing projects, Stanford will

have added 4,424 net new housing units since approval of

the General Use Permit, exceeding the housing linkage

requirement for the full academic build-out allowed by the

General Use Permit.

As discussed on page 69, Stanford has submitted an ap-

plication to Santa Clara County for an updated General Use

Permit. This permit is expected to be approved in 2018.

THE CAPITAL BUDGET, 2018/19At $1.2 billion, the 2018/19 Capital Budget reflects only a

portion of the costs of the projects in the Capital Plan, as

most of them span more than one year. The following table

highlights the major capital projects for which expenditures

under the 2018/19 Capital Budget will be significant, as well

as the percentage of each project expected to be complete by

the end of 2018/19. The map on page 79 shows the locations

of these projects.

MAJOR CAPITAL PROJECTS— PERCENT OF COMPLETION 2018/191

[IN MILLIONS OF DOLLARS] ESTIMATED CAPITAL ESTIMATED PERCENT BUDGET PROJECT COMPLETE BY 2018/19 COST 2018/19

Escondido Village Graduate Residences 441.5 1,160.6 76%

Stanford Redwood City Phase 1 143.4 568.8 100%

Neuro/ChEM-H Research Complex 96.3 257.0 100%

Center for Academic Medicine 1 (CAM 1) 86.8 222.0 69%

BioMedical Innovations Building 1 and Connective Elements (BMI 1) 101.6 210.0 86%

University Terrace Faculty Homes (180 units) 20.0 180.0 100%

Middle Plaza at 500 El Camino Real - Residential (215 units) 38.1 154.6 42%

Public Safety Building 16.5 31.5 69%

Encina Complex Upgrades 11.1 25.8 100%

Arrillaga Hall (formerly Athletic Academic Advising and Rowing Building) 11.8 22.6 100%

Emergency Operations Center & Electronic Communications Hub 13.5 20.1 100%

Cabrillo-Dolores Faculty Homes (8 units) 12.8 18.4 89%

Total 993.4 2,871.4 1 Board approved projects scheduled to be in construction and with

forecasted expenditures greater than $10 million in 2018/19.


THE CAPITAL BUDGET 2018/19 $1.2 BILLION

New Construction86%

Renovations3%

Infrastructure11%

Uses of Funds by Project Type

Housing45%

Academic Support

18%

Athletics/Student

Activities1%

Academic/Research25%

Infrastructure11%

Uses of Funds by Program Category

In 2018/19, LBRE anticipates substantial completion of six

major projects with total budgets of $1.1 billion and estimated

2018/19 expenditures of $296.1 million. When completed,

the new Stanford Redwood City campus will provide admin-

istrative staff with an outstanding, sustainable, and healthy

workplace environment; the Neuro/ChEM-H Research

Complex will allow Stanford to recruit the best faculty from

many disciplines, bringing them together for frequent col-

laboration and interaction; University Terrace Faculty Homes

will provide 180 units to faculty for purchase; upgrades to

Encina Complex will improve its functionality as a university

hub for international studies; Arrillaga Hall will consolidate

a number of Department of Athletics, Physical Education,

and Recreation programs and allow optimization of vacated

space; and a new essential services building that meets

seismic code requirements will house both the EOC and a

new ECH.

SOURCES AND USESThe Capital Budget is supported by multiple funding sources:

current funds (which include the Capital Facilities Fund [CFF],

funds from university and school reserves, and General Use

Permit and SIP fees), gifts, and debt. The university typically

allocates CFF or debt funding to projects in the absence of

other available funding. The timing of gift receipts, which

may be bridge financed, will affect the mix of project funding.

The following pie charts show the uses of funds under the

$1.2 billion Capital Budget by project type and program cat-

egory. Expenditures of $560.6 million (45%) are anticipated

for Housing projects, including the EV Graduate Residences,

University Terrace Faculty Homes, Middle Plaza Residential,

and the HAI. Academic/Research projects, forecasted at

$305 million (25%), include the Neuro/ChEM-H Research

Complex, CAM 1, and BMI 1. Academic Support projects

are projected at $223 million (18%), primarily for Stanford

Redwood City. Infrastructure expenditures of $137.6 million

(11%) includes Investment in Plant (Planned Maintenance),

the CUP, and SIP. Lastly, expenditures for Athletics/Student

Activities projects are forecasted at $11.8 million (1%).

Annual transfers to the CFF are projected to be $123.4 million

in 2017/18 and $113.7 million in 2018/19, with corresponding

commitments of $105.9 million and $91.1 million for these

two years. The table on the next page lists projects antici-

pated to receive CFF funding in 2017/18 and 2018/19.


CAPITAL BUDGET IMPACT ON 2018/19 OPERATIONSThe 2018/19 Consolidated Budget for Operations includes

incremental debt service and O&M expenses for projects to

be completed in either 2017/18 or 2018/19, but operational

for less than 12 months in the year completed.

Capital projects requiring debt are funded from internal loans

that are amortized over the asset life in equal installments

(principal and interest). The budgeted interest rate (BIR)

used to calculate the internal debt service is a blended rate

of interest expense on debt issued for capital projects, bond

issuance, and administrative costs. The BIR will remain at

4.25% for 2018/19.

Consolidated internal debt service, including that borne

by formula units, auxiliaries, service centers, Faculty Staff

Housing, and real estate investment, is projected to increase

from $196.9 million to $222.0 million. Additional debt ser-

vice related to the Rosewood Hotel and the Sand Hill Road

Office Complex is not included in the Consolidated Budget

for Operations. In addition, annual lease payments for rental

properties occupied by the SoM are projected to be $51.5

million in 2018/19.

The projected internal debt service funded by unrestricted

funds, including general funds and schools’ designated funds,

will increase by $23.6 million in 2018/19. The net change

in debt service brings the total annual internal debt service

borne by unrestricted funds to $82.8 million.

In 2018/19, the university will incur about $4.4 million of

incremental O&M costs. Of this, $3.9 million will result from

completion of the Bass Biology Building. O&M costs for

smaller capital projects and infrastructure programs account

for the balance of the increase.

CAPITAL PLAN PROJECT DETAIL In addition to a map identifying some key project locations,

the following pages provide tables that list capital projects

in three categories: projects in design and construction,

forecasted construction projects, and infrastructure projects

and programs.

CAPITAL FACILITIES FUND (CFF)Funding Sources and Committed Uses of Funding[IN MILLIONS OF DOLLARS] 2017/18 2018/19

Sources of Funding

Formula Units

School of Medicine 27.8 16.2

Hoover Institution 4.4 4.6

Non-Formula 91.2 92.9

Total Funding 123.4 113.7

Committed Uses of Funding

Center for Academic Medicine 1 (CAM 1) 16.2

Neuro/ChEM-H Research Complex 5.9 5.3

Research Park Labs Tenant Improvements 5.7 2.5

3172 Porter Drive Tenant Improvements 2.0

Stanford Redwood City Phase 1 0.5

Other School of Medicine Projects 5.8

Hoover Institution Projects 4.4 4.6

Formula Units Project Subtotal 32.2 20.8

Public Safety Building 18.3

Children’s Center of the Stanford Community 9.2

Bioengineering Equipment 7.1 (2.0)1

Emergency Operations Center 7.2

Stanford Redwood City Phase 1 5.8

General Use Permit 4.9 2.2

Encina Complex Upgrades 3.5

Lagunita Diversion Dam Removal 3.5

School of Engineering Lab Renovation 2.5

Graduate School of Education Building Renovations 2.0

Heritage House Improvements 2.0 5.0

Stanford Institute for Chemical Biology Renovations 1.9

Searsville Dam and Reservoir 1.5 1.8

Stanford Auxiliary Library Shelving 1.0

Undergraduate Housing and Dining Study 1.0

Escondido Village Graduate Residences 26.5

Demolitions of Herrin Lab/Herrin Hall/Mudd 9.4

Stanford Redwood City Operating Costs 6.0

Lorry Lokey Lab Building Renovations 5.7

Searsville Water Replacement 2.6

Campus Conference Rooms Video Conferencing Improvements 2.5

Campus Camera Pilot 2.2

Dinkelspiel Renovations 1.8

Dams Renewal 1.5

Bridges Renewal 1.0

Other Non-Formula Units Projects 2.3 4.1

Total Commitments 105.9 91.1

Annual Funding less Commitments 17.5 22.6

Balance at Beginning of Year 10.7 28.2

Uncommitted Balance 28.2 50.81 Reimbursement from grant.


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83APPENDIX A: CONSOLIDATED BUDGETS BY UNIT

APPENDIX A

CONSOLIDATED BUDGETS FOR SELECTED UNITS

n Consolidated Budget for Operations by Unit, 2018/19

n Summary of 2018/19 General Funds Allocations (Excludes Formula Units)

Consolidated Budget for Operations for Selected Units, 2018/19

Academic Units

n Graduate School of Business

n School of Earth, Energy & Environmental Sciences

n Graduate School of Education

n School of Engineering

n School of Humanities and Sciences

n School of Law

n School of Medicine

n Vice Provost and Dean of Research

n Vice Provost for Undergraduate Education

n Vice Provost for Graduate Education

n Vice Provost for Teaching and Learning

n Vice President for the Arts

n Hoover Institution

n Stanford University Libraries

Auxiliary Units

n Athletics

n Residential & Dining Enterprises

84 APPENDIX A: CONSOLIDATED BUDGETS BY UNIT

CONSOLIDATED BUDGET FOR OPERATIONS BY UNIT, 2018/19[IN MILLIONS OF DOLLARS]

TOTAL REVENUES RESULT OF TRANSFERS CHANGE IN AND OPERATING TOTAL CURRENT (TO)/FROM EXPENDABLE TRANSFERS EXPENSES OPERATIONS ASSETS FUND BALANCE

Academic Units Graduate School of Business 1 290.4 288.8 1.6 (1.4) 0.2 School of Earth, Energy & Environmental Sciences 71.1 73.7 (2.6) 0.5 (2.1) Graduate School of Education 78.6 78.9 (0.4) (1.7) (2.1) School of Engineering 430.5 431.1 (0.6) (8.2) (8.8) School of Humanities and Sciences 1 521.8 508.4 13.4 (13.1) 0.3 School of Law 101.4 94.9 6.6 (6.4) 0.2 School of Medicine 1 2,527.5 2,467.6 59.8 21.0 80.8 Vice Provost and Dean of Research 228.6 237.6 (9.0) 7.0 (2.0) Vice Provost for Undergraduate Education 1 48.1 50.8 (2.8) 0.1 (2.6) Vice Provost for Graduate Education 7.9 12.7 (4.8) (0.3) (5.1) Vice Provost for Teaching and Learning 41.2 41.2 0.1 0.1 Vice President for the Arts 22.6 25.5 (2.9) (1.0) (3.9) Hoover Institution 68.9 74.2 (5.3) (5.3) Stanford University Libraries 1 91.5 90.0 1.5 1.5 SLAC 514.2 514.4 (0.2) (0.2)Total Academic Units 5,044.2 4,989.9 54.3 (3.5) 50.8

Administrative Units Business Affairs 253.0 255.1 (2.1) (0.2) (2.3) Office of Development 93.7 94.6 (0.9) (0.9) General Counsel & Public Safety 47.7 47.5 0.2 0.2 Land, Buildings and Real Estate 343.9 331.8 12.1 (10.1) 2.0 Offices of the President and Provost 135.7 127.2 8.5 0.7 9.1 Office of Public Affairs 4.2 4.4 (0.1) (0.1) Stanford Alumni Association 45.9 46.2 (0.4) (0.4) Stanford Management Company 41.2 41.5 (0.4) (0.4) Student Affairs 1 78.8 80.4 (1.6) (1.6) Undergraduate Admission and Financial Aid 204.1 204.8 (0.7) (0.7) University Communications 9.1 9.2 (0.1) (0.1) University Human Resources 14.9 16.3 (1.4) (1.4)

Major Auxiliary Units Athletics (Operations and Financial Aid) 139.9 143.7 (3.8) (3.8) Residential & Dining Enterprises 276.0 272.8 3.1 (4.1) (0.9)Total Administrative & Auxiliary Units 1,687.9 1,675.6 12.3 (13.7) (1.4)

Internal Transaction Adjustment 2 (178.5) (143.1) (35.4) 29.4 (6.0)Indirect Cost Adjustment 3 (279.9) (279.9) Grand Total from Units 6,273.7 6,242.5 31.3 12.2 43.4 Central Accounts 4 152.8 (44.2) 197.1 (149.9) 47.2 Central Adjustment 5 98.1 15.0 83.1 (3.0) 80.1 Total Consolidated Budget 6,524.7 6,213.3 311.4 (140.7) 170.7

Notes:1 The budgets for these units include auxiliary operations, which are separately identified in the units’ consolidated forecast in Appendix A.2 Internal revenues and expenses are included in the unit budgets. This adjustment backs out these internal activities from the Consolidated Budget to avoid

double counting them.3 The academic unit budgets include both direct and indirect sponsored income and expenditures. Indirect cost funding passes through the schools and and

is allocated to the budget units as general funds. At that point, indirect cost recovery becomes part of unrestricted income for the university. In order not to double count, indirect cost recovery of $279.9 million received by the schools is taken out in the “Indirect Cost Adjustment” line.

4 Central Accounts encompass funds not belonging to any particular budget unit that are used for university-wide activities, such as academic debt service payments, centrally funded tuition allowance, miscellaneous university expenses, Presidential and Provostial discretionary funds, and the general funds surplus.

5 Additional central adjustments for revenues, expenses, and asset transfers are made to bring the sum of the unit projections in line with the overall consolidated budget plan. $98.1 million has been added to total revenue and transfers and reflects the expectation that the university will receive a level of expendable gifts and gifts to endowment principal not yet anticipated by the individual budget units.


SUMMARY OF 2018/19 BASE GENERAL FUNDS ALLOCATIONS (EXCLUDES FORMULA UNITS)[IN THOUSANDS OF DOLLARS] SALARY & PROGRAMMATIC 2017/18 TO 2017/18 GF NON-SALARY ADDITIONS/ 2018/19 GF 2018/19 PERCENT ALLOCATION INFLATION (ADJUSTMENTS) ALLOCATION CHANGE CHANGE

School of Earth, Energy, and Environmental Sciences 12,008 474 260 12,742 734 6.1%

Graduate School of Education 19,232 735 232 20,199 967 5.0%

School of Engineering 83,970 3,198 (625) 86,543 2,573 3.1%

School of Humanities and Sciences 188,877 7,143 (24) 195,996 7,119 3.8%

School of Law 32,771 1,238 2,209 36,218 3,447 10.5%

Vice Provost and Dean of Research 48,396 1,832 678 50,906 2,510 5.2%

Vice Provost for Undergraduate Education 22,280 808 140 23,227 948 4.3%

Vice Provost for Graduate Education 8,179 336 (17) 8,498 319 3.9%

Vice Provost for Teaching and Learning 11,369 426 132 11,927 558 4.9%

Vice President for the Arts 3,783 136 341 4,259 476 12.6%

Stanford University Libraries 53,730 2,003 (207) 55,526 1,796 3.3%

Total – Academic 1 484,594 18,329 3,120 506,042 21,449 4.4%

Business Affairs 2 129,972 5,302 8,648 143,922 13,950 10.7%

Office of Development 50,160 2,036 1,697 53,893 3,733 7.4%

Land, Buildings and Real Estate 3 17,124 187 301 17,611 488 2.8%

Offices of the President & Provost 21,005 791 700 22,495 1,491 7.1%

Office of Public Affairs 2,801 109 37 2,946 145 5.2%

Stanford Alumni Association 12,091 393 (99) 12,384 294 2.4%

Student Affairs 38,248 1,656 1,010 40,914 2,666 7.0%

Admission and Financial Aid Operations 12,064 458 67 12,589 526 4.4%

University Communications 5,649 250 356 6,255 606 10.7%

University Human Resources 13,044 516 356 13,916 872 6.7%

Other Units 4 30,258 1,092 416 31,766 1,508 5.0%

Central Obligations 5 45,615 (2,597) 5,980 48,998 3,382 7.4%

Total - Administrative 378,031 10,192 19,467 407,690 29,659 7.8%

Undergraduate Financial Aid 22,696 5,413 28,109 5,413 23.9%

O&M and Utilities 110,258 3,868 6,199 120,325 10,067 9.1%

Debt Service 32,238 454 32,693 454 1.4%

Capital Facilities Fund 6 88,710 3,310 92,020 3,310 3.7%

University Reserves 50,000 (5,000) 45,000 (5,000) -10.0%

Total - Other Allocations 303,903 4,322 9,922 318,147 14,245 4.7%

Total Non-Formula Allocations 1,166,527 32,843 32,510 1,231,880 65,353 5.6%

Unallocated Surplus 29,311 14,865 (14,446) -49.3%

Total Non-Formula General Funds 1,195,838 32,843 32,510 1,246,745 50,907 4.3%

Notes:1 For this table, the TA tuition allowance expense budgeted centrally and distributed annually on a one-time basis is redistributed to the academic units

according to their individual allocations.2 Property and general insurance allocations are moved from Business Affairs to Central Obligations.3 Operations and Maintenance (O&M) and Utilities allocations are moved from Land, Buildings and Real Estate to Other Allocations.4 Other Units include general funds allocations for General Counsel, Hoover, SLAC, Athletics, Stanford University Press, and the Stanford Faculty Club.5 Central Obligations include RA tuition allowance and miscellaneous university expenses, property insurance, general insurance, fire contract, and Stanford

Research Computing Center allocations.


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atio

n 9,

777

1,

466

1,

630

64

8

5,84

9

19

,371

23,

962

23

,462

Non

-Sal

ary

Expe

nses

7,

505

1,

929

3,

051

45

3

12,1

05

25

,043

2,

917

2,

361

Inte

rnal

Exp

ense

s 63

4

508

79

6

190

21

6

2,

343

74,

715

76

,903

To

tal E

xpen

ses

37,2

13

6,52

9

7,18

1

2,17

6

25,8

41

0

78,9

40

80

4

186

O

pera

ting

Res

ults

0

(5

18)

(479

) 61

4

0

0

(383

)

43

8

(1,6

87)

Tran

sfer

s Fr

om (

to)

Endo

wm

ent &

Oth

er A

sset

s

(1,6

92)

(1,6

92)

Tr

ansf

ers

From

(to

) Pl

ant

1,

243

(1

,501

) Su

rplu

s /

(Defi

cit)

0

(5

18)

(479

) (1

,078

) 0

0

(2

,075

)

53,

614

54

,851

Be

ginn

ing

Fund

Bal

ance

s 15

7

31,6

91

16,8

40

4,66

2

53,3

50

54,

851

53

,350

En

ding

Fun

d Ba

lanc

es

157

31

,173

16

,360

3,

585

51

,275

Not

es:

• Th

is s

ched

ule

does

not

incl

ude

endo

wm

ent p

rinc

ipal

, stu

dent

loan

fund

s, o

r pl

ant f

unds

.

• Th

e ge

nera

l fun

ds a

lloca

tion

sho

wn

in th

is s

ched

ule

incl

udes

one

-tim

e al

loca

tion

s (i

nclu

ding

tuit

ion

allo

wan

ce)

and

ther

efor

e w

ill n

ot m

atch

the

base

figu

re s

how

n in

the

tabl

e on

pag

e 85

.

• G

rant

s an

d C

ontr

acts

reve

nue

incl

udes

Indi

rect

Cos

t Rec

over

y; th

is s

ame

amou

nt is

cha

rged

as

a N

on-S

alar

y Ex

pens

e fo

r in

fras

truc

ture

and

gen

eral

adm

inis

trat

ive

cost

s of

rese

arch

.


SC

HO

OL

OF

EN

GIN

EE

RIN

G20

18/1

9 C

onso

lid

ated

Bud

get

Pla

n[I

N T

HO

USA

ND

S O

F D

OLL

ARS

]

201

6/17

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17/1

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OP

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DESI

GNAT

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REST

RICT

ED

REST

RICT

ED

GRAN

TS &

AU

XILIA

RY &

2

018/

19

AC

TUAL

S PR

OJEC

TION

BU

DGET

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NDAB

LE

ENDO

WM

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CONT

RACT

S SE

RVIC

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NTER

TO

TAL

Re

venu

es 8

9,87

8

94,1

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G

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al F

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Allo

catio

n 93

,905

93,9

05

280,

453

31

4,57

4

Re

stric

ted

Reve

nues

40,6

45

43,0

99

66,9

84

147,

118

297,

847

4,

612

3,

800

Inte

rnal

Rev

enue

(2,5

03)

6,

479

3,

977

46,

866

42

,186

Ope

ratin

g Tr

ansf

ers

94,6

88

(11,

120)

(9

,184

) (4

4,16

5)

4,54

2

34

,760

421,

809

45

4,74

6

Tota

l Rev

enue

s 18

8,59

3

27,0

22

33,9

15

22,8

19

151,

660

6,

479

43

0,48

9

Ex

pens

es

65,

770

71

,121

Aca

dem

ic S

alar

ies

50,8

52

4,14

7

3,82

1

328

15

,957

1,

533

76

,638

32,

079

36

,720

Staf

f Sal

arie

s 31

,027

2,

976

1,

593

13

3

2,55

0

1,74

1

40,0

20

130,

192

14

3,11

3

Be

nefit

s &

Oth

er C

ompe

nsat

ion

64,2

82

12,2

79

10,5

57

2,82

0

57,4

53

1,06

6

148,

456

140,

974

14

5,47

6

N

on-S

alar

y Ex

pens

es

35,7

44

10,2

34

10,4

81

18,4

32

72,7

97

1,90

0

149,

589

16,

920

16

,893

Inte

rnal

Exp

ense

s 6,

689

3,

179

3,

082

47

4

2,90

4

66

16,3

92

385,

935

41

3,32

3

Tota

l Exp

ense

s 18

8,59

3

32,8

16

29,5

34

22,1

86

151,

660

6,

306

43

1,09

5

35,

874

41

,422

O

pera

ting

Res

ults

0

(5,7

94)

4,38

1

633

0

17

4

(606

)

(15,

460)

(1

6,15

3)

Tran

sfer

s Fr

om (

to)

Endo

wm

ent &

Oth

er A

sset

s

(4,0

00)

(1

,200

)

(5

,200

)

(8,5

51)

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sfer

s Fr

om (

to)

Plan

t

(3,0

00)

(3

,000

)

20,

414

16

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Su

rplu

s /

(Defi

cit)

0

(12,

794)

4,

381

(5

67)

0

174

(8

,806

)

275,

459

29

6,38

7

Begi

nnin

g Fu

nd B

alan

ces

1

128,

178

13

2,20

2

52,4

44

28

0

313,

105

296,

387

31

3,10

5

Endi

ng F

und

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nces

1

11

5,38

4

136,

583

51

,877

454

30

4,29

9

Not

es:

• Th

is s

ched

ule

does

not

incl

ude

endo

wm

ent p

rinc

ipal

, stu

dent

loan

fund

s, o

r pl

ant f

unds

.

• Th

e ge

nera

l fun

ds a

lloca

tion

sho

wn

in th

is s

ched

ule

incl

udes

one

-tim

e al

loca

tion

s (i

nclu

ding

tuit

ion

allo

wan

ce)

and

ther

efor

e w

ill n

ot m

atch

the

base

figu

re s

how

n in

the

tabl

e on

pag

e 85

.

• G

rant

s an

d C

ontr

acts

reve

nue

incl

udes

Indi

rect

Cos

t Rec

over

y; th

is s

ame

amou

nt is

cha

rged

as

a N

on-S

alar

y Ex

pens

e fo

r in

fras

truc

ture

and

gen

eral

adm

inis

trat

ive

cost

s of

rese

arch

.


SC

HO

OL

OF

HU

MA

NIT

IES

AN

D S

CIE

NC

ES

2018

/19

Con

soli

dat

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udge

t P

lan

[IN

TH

OU

SAN

DS

OF

DO

LLA

RS]

201

6/17

20

17/1

8

OP

ERAT

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DESI

GNAT

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REST

RICT

ED

REST

RICT

ED

GRAN

TS &

AU

XILIA

RY &

2

018/

19

AC

TUAL

S PR

OJEC

TION

BU

DGET

FU

NDS

EXPE

NDAB

LE

ENDO

WM

ENT

CONT

RACT

S SE

RVIC

E CE

NTER

TO

TAL

Re

venu

es 19

3,10

1

196,

922

Gen

eral

Fun

ds A

lloca

tion

204,

264

204,

264

270,

958

27

7,87

6

Re

stric

ted

Reve

nues

14

1 6,

682

14

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16

4,91

7

93,6

88

5,62

9

285,

490

1,

868

1,

929

Inte

rnal

Rev

enue

80

43

5

1

1,45

2

1,96

8

31,

792

31

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Ope

ratin

g Tr

ansf

ers

136,

182

46

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,516

) (1

53,7

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1,90

5

746

30

,107

497,

720

50

8,41

5

Tota

l Rev

enue

s 34

0,66

7

53,6

52

12,9

18

11,1

72

95,5

94

7,82

6

521,

830

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pens

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129,

628

13

4,27

9

A

cade

mic

Sal

arie

s 10

7,78

4

16,6

45

1,56

1

1,50

8

12,4

44

215

14

0,15

7

47,

891

50

,531

Staf

f Sal

arie

s 40

,170

1,

577

1,

468

57

5,

058

4,

368

52

,698

138,

403

14

2,00

9

Be

nefit

s &

Oth

er C

ompe

nsat

ion

100,

369

12

,532

5,

020

1,

564

26

,405

1,

586

14

7,47

6

139,

120

14

4,96

9

N

on-S

alar

y Ex

pens

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77,4

70

15,8

29

5,21

8

2,20

3

48,5

13

1,50

0

150,

732

18,

363

18

,806

Inte

rnal

Exp

ense

s 10

,787

1,

937

1,

777

46

9

2,07

5

283

17

,328

473,

406

49

0,59

5

Tota

l Exp

ense

s 33

6,58

0

48,5

18

15,0

45

5,80

1

94,4

95

7,95

1

508,

390

24,

313

17

,820

O

pera

ting

Res

ults

4,

087

5,

134

(2

,127

) 5,

371

1,

099

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25)

13,4

39

(21,

985)

(5

,751

) Tr

ansf

ers

From

(to

) En

dow

men

t & O

ther

Ass

ets

(4

,501

)

(4

,501

)

(6,7

43)

Tran

sfer

s Fr

om (

to)

Plan

t (4

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) (3

,100

)

(1

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)

(8,6

01)

2,

328

5,

326

Su

rplu

s /

(Defi

cit)

(3

15)

2,03

4

(2,1

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871

0

(125

) 33

8

273,

494

27

6,27

9

Begi

nnin

g Fu

nd B

alan

ces

5,98

8

145,

449

69

,739

60

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) 28

1,60

5

276,

279

28

1,60

5

Endi

ng F

und

Bala

nces

5,

673

14

7,48

3

67,6

12

61,4

68

(2

93)

281,

943

Not

es:

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is s

ched

ule

does

not

incl

ude

endo

wm

ent p

rinc

ipal

, stu

dent

loan

fund

s, o

r pl

ant f

unds

.

• Th

e ge

nera

l fun

ds a

lloca

tion

sho

wn

in th

is s

ched

ule

incl

udes

one

-tim

e al

loca

tion

s (i

nclu

ding

tuit

ion

allo

wan

ce)

and

ther

efor

e w

ill n

ot m

atch

the

base

figu

re s

how

n in

the

tabl

e on

pag

e 85

.

• G

rant

s an

d C

ontr

acts

reve

nue

incl

udes

Indi

rect

Cos

t Rec

over

y; th

is s

ame

amou

nt is

cha

rged

as

a N

on-S

alar

y Ex

pens

e fo

r in

fras

truc

ture

and

gen

eral

adm

inis

trat

ive

cost

s of

rese

arch

.


SC

HO

OL

OF

LAW

2018

/19

Con

soli

dat

ed B

udge

t P

lan

[IN

TH

OU

SAN

DS

OF

DO

LLA

RS]

201

6/17

20

17/1

8

OP

ERAT

ING

DESI

GNAT

ED

REST

RICT

ED

REST

RICT

ED

GRAN

TS &

AU

XILIA

RY &

2

018/

19

AC

TUAL

S PR

OJEC

TION

BU

DGET

FU

NDS

EXPE

NDAB

LE

ENDO

WM

ENT

CONT

RACT

S SE

RVIC

E CE

NTER

TO

TAL

Re

venu

es 3

4,57

5

36,0

22

G

ener

al F

unds

Allo

catio

n 36

,749

36,7

49

63,

736

64

,754

Rest

ricte

d Re

venu

es

5,

590

13

,212

45

,634

2,

169

66,6

05

(7

9)

(286

)

Inte

rnal

Rev

enue

(285

)

(2

85)

(8

5)

(1,2

12)

O

pera

ting

Tran

sfer

s 53

,611

(3

,900

) (1

1,88

0)

(39,

462)

(1

,631

)

98,

147

99

,278

To

tal R

even

ues

90,3

60

1,40

5

1,33

2

6,17

2

2,16

9

0

101,

438

Ex

pens

es

30,

093

32

,852

Aca

dem

ic S

alar

ies

34,6

75

183

14

7

10

276

35,2

91

13,

175

13

,835

Staf

f Sal

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s 14

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36

20

8

14

,844

17,

288

17

,198

Bene

fits

& O

ther

Com

pens

atio

n 17

,905

11

7

172

7

24

1

18

,442

20,

166

21

,723

Non

-Sal

ary

Expe

nses

19

,695

73

9

136

42

7

1,44

2

22

,439

3,

635

3,

716

Inte

rnal

Exp

ense

s 3,

485

16

2

86

132

2

3,86

8

84,

358

89

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To

tal E

xpen

ses

90,3

60

1,23

7

541

57

7

2,16

9

0

94,8

84

13,

789

9,

954

O

pera

ting

Res

ults

0

168

79

1

5,59

5

0

0

6,55

4

(11,

755)

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0,50

0)

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sfer

s Fr

om (

to)

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wm

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sset

s

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00)

(5,3

00)

(5,8

00)

(1,0

00)

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sfer

s Fr

om (

to)

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t

(150

) (2

50)

(200

)

(6

00)

2,

034

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lus

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efici

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0 18

41

95

0

0

15

4

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670

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ginn

ing

Fund

Bal

ance

s 29

3

1,23

2

23,5

34

98

25,1

58

36,

704

25

,158

En

ding

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d Ba

lanc

es

293

1,

250

23

,575

19

3

25,3

12

Not

es:

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ule

does

not

incl

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endo

wm

ent p

rinc

ipal

, stu

dent

loan

fund

s, o

r pl

ant f

unds

.

• Th

e ge

nera

l fun

ds a

lloca

tion

sho

wn

in th

is s

ched

ule

incl

udes

one

-tim

e al

loca

tion

s (i

nclu

ding

tuit

ion

allo

wan

ce)

and

ther

efor

e w

ill n

ot m

atch

the

base

figu

re s

how

n in

the

tabl

e on

pag

e 85

.

• G

rant

s an

d C

ontr

acts

reve

nue

incl

udes

Indi

rect

Cos

t Rec

over

y; th

is s

ame

amou

nt is

cha

rged

as

a N

on-S

alar

y Ex

pens

e fo

r in

fras

truc

ture

and

gen

eral

adm

inis

trat

ive

cost

s of

rese

arch

.


SC

HO

OL

OF

ME

DIC

INE

2018

/19

Con

soli

dat

ed B

udge

t P

lan

[IN

TH

OU

SAN

DS

OF

DO

LLA

RS]

201

6/17

20

17/1

8

OP

ERAT

ING

DESI

GNAT

ED

DESI

GNAT

ED

REST

RICT

ED

REST

RICT

ED

GRAN

TS &

AU

XILIA

RY &

2

018/

19

AC

TUAL

S PR

OJEC

TION

BU

DGET

FU

NDS

CLIN

IC

EXPE

NDAB

LE

ENDO

WM

ENT

CONT

RACT

S SE

RVIC

E CE

NTER

TO

TAL

Re

venu

es

10

9,48

2

116,

740

Gen

eral

Fun

ds A

lloca

tion

123,

508

12

3,50

8

2,03

1,21

3 2,

206,

980

Rest

ricte

d Re

venu

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24

2,79

4 1

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,974

13

0,10

1

182,

665

707

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2,

011

2,

315,

648

80

,773

83

,927

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rnal

Rev

enue

98,3

77

(52,

712)

58

44

,001

89

,724

22

,936

69

2

O

pera

ting

Tran

sfer

s 23

5,77

4

(13,

565)

(1

41,3

24)

(11,

501)

(6

3,87

0)

(6,9

06)

(1

,392

)

2,24

4,40

4 2,

408,

339

To

tal R

even

ues

359,

283

32

7,60

6

856,

938

11

8,65

8

118,

794

700

,198

46

,012

2,

527,

488

Ex

pens

es

54

8,58

1

597,

249

Aca

dem

ic S

alar

ies

27,1

09

52,2

21

394,

548

24

,586

26

,888

12

4,42

6

5,74

6

655,

525

22

5,80

4

241,

858

Staf

f Sal

arie

s 82

,322

37

,879

44

,659

17

,061

11

,648

51

,188

14

,441

25

9,19

9

56

3,95

9

606,

914

Bene

fits

& O

ther

Com

pens

atio

n 46

,911

67

,269

37

2,35

2

27,3

40

19,2

03

119,

191

8,

041

66

0,30

7

64

2,40

7

679,

234

Non

-Sal

ary

Expe

nses

12

3,58

2

97,8

61

27,1

22

33,5

07

30,6

05

374,

890

17

,885

70

5,45

2

14

6,99

4

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121

Inte

rnal

Exp

ense

s 79

,358

20

,379

18

,256

26

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11

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1,

239

18

7,15

8

2,12

7,74

5 2,

283,

376

To

tal E

xpen

ses

359,

283

27

5,60

9

856,

938

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8,89

9

99,3

63

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198

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pera

ting

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ults

0

51

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241)

19

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0

(1

,339

) 59

,847

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110

17

,106

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ansf

ers

From

(to

) En

dow

men

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ther

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ets

(5

,000

)

17,6

91

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ansf

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ant

8,

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rplu

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cit)

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ginn

ing

Fund

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ance

s 96

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7

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ding

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d Ba

lanc

es

966

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8,86

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201,

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1,

438,

525

Not

es:

• Th

is s

ched

ule

does

not

incl

ude

endo

wm

ent p

rinc

ipal

, stu

dent

loan

fund

s, o

r pl

ant f

unds

.

• G

rant

s an

d C

ontr

acts

reve

nue

incl

udes

Indi

rect

Cos

t Rec

over

y; th

is s

ame

amou

nt is

cha

rged

as

a N

on-S

alar

y Ex

pens

e fo

r in

fras

truc

ture

and

gen

eral

adm

inis

trat

ive

cost

s of

rese

arch

.

• T

his

sche

dule

incl

udes

an

allo

cati

on o

f tui

tion

reve

nue

and

cent

ral a

dmin

istr

ativ

e co

sts,

con

sist

ent w

ith

Stan

ford

’s p

olic

y fo

r un

its

oper

atin

g un

der

a fo

rmul

a ag

reem

ent.


VIC

E P

RO

VO

ST

AN

D D

EA

N O

F R

ES

EA

RC

H20

18/1

9 C

onso

lid

ated

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get

Pla

n[I

N T

HO

USA

ND

S O

F D

OLL

ARS

]

201

6/17

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17/1

8

OP

ERAT

ING

DESI

GNAT

ED

REST

RICT

ED

REST

RICT

ED

GRAN

TS &

AU

XILIA

RY &

2

018/

19

AC

TUAL

S PR

OJEC

TION

BU

DGET

FU

NDS

EXPE

NDAB

LE

ENDO

WM

ENT

CONT

RACT

S SE

RVIC

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NTER

TO

TAL

Re

venu

es 5

7,13

6

55,1

69

G

ener

al F

unds

Allo

catio

n 57

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300

58,1

21

217,

458

16

9,92

2

Re

stric

ted

Reve

nues

1,

523

7,60

0

33,4

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41,2

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15

3,59

0

8,

974

8,

899

Inte

rnal

Rev

enue

3,

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574

5,94

0

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55

8,

176

7,

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Ope

ratin

g Tr

ansf

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1,00

0

6,

702

291,

744

24

1,68

4

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l Rev

enue

s 10

2,98

3

12,8

28

8,21

0

27,8

86

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20

5,94

0

228,

567

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pens

es

31,

922

31

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Aca

dem

ic S

alar

ies

9,59

8

1,73

3

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5

4,45

4

11,5

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0

31,7

24

45,

907

51

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f Sal

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s 45

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2,

274

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990

2,

308

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191

10

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rnal

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s 6,

151

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9

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8

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1

79

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39

226,

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1,15

1

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l Exp

ense

s 10

3,66

3

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03

19,8

80

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5,92

5

237,

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79)

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293)

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199)

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036

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ansf

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dow

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t & O

ther

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1,00

0

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6

Tr

ansf

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From

(to

) Pl

ant

34,

776

18

,568

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rplu

s /

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cit)

(6

79)

(2,0

80)

(13,

293)

14

,041

0

16

(1

,996

)

195,

257

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0,08

2

Begi

nnin

g Fu

nd B

alan

ces

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9

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96,6

56

53,9

81

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Endi

ng F

und

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nces

92

9

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63

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22

10

2

246,

654

Not

es:

• Th

is s

ched

ule

does

not

incl

ude

endo

wm

ent p

rinc

ipal

, stu

dent

loan

fund

s, o

r pl

ant f

unds

.

• G

rant

s an

d C

ontr

acts

reve

nue

incl

udes

Indi

rect

Cos

t Rec

over

y; th

is s

ame

amou

nt is

cha

rged

as

a N

on-S

alar

y Ex

pens

e fo

r in

fras

truc

ture

and

gen

eral

adm

inis

trat

ive

cost

s of

rese

arch

.

• Th

e ge

nera

l fun

ds a

lloca

tion

sho

wn

in th

is s

ched

ule

incl

udes

one

-tim

e al

loca

tion

s an

d th

eref

ore

will

not

mat

ch th

e ba

se fi

gure

sho

wn

in th

e ta

ble

on p

age

85.


VIC

E P

RO

VO

ST

FO

R U

ND

ER

GR

AD

UA

TE

ED

UC

AT

ION

2018

/19

Con

soli

dat

ed B

udge

t P

lan

[IN

TH

OU

SAN

DS

OF

DO

LLA

RS]

201

6/17

20

17/1

8

OP

ERAT

ING

DESI

GNAT

ED

REST

RICT

ED

REST

RICT

ED

GRAN

TS &

AU

XILIA

RY &

2

018/

19

AC

TUAL

S PR

OJEC

TION

BU

DGET

FU

NDS

EXPE

NDAB

LE

ENDO

WM

ENT

CONT

RACT

S SE

RVIC

E CE

NTER

TO

TAL

Re

venu

es 1

6,60

1

17,6

67

G

ener

al F

unds

Allo

catio

n 18

,384

18,3

84

40,

634

38

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Rest

ricte

d Re

venu

es

615

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2,

177

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rnal

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(56)

(5

6)

(8

,446

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,833

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ratin

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ansf

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28,4

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) (1

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48,

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tal R

even

ues

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) 0

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347

48

,053

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pens

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509

13

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s 14

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445

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fits

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n 9,

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2

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661

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nses

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771

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s 2,

556

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404

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ults

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3

137

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ansf

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dow

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ther

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124

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1,

451

17

0

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ginn

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d Ba

lanc

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1,55

7

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53

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Not

es:

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is s

ched

ule

does

not

incl

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wm

ent p

rinc

ipal

, stu

dent

loan

fund

s, o

r pl

ant f

unds

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• Th

e ge

nera

l fun

ds a

lloca

tion

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wn

in th

is s

ched

ule

incl

udes

one

-tim

e al

loca

tion

s (i

nclu

ding

tuit

ion

allo

wan

ce)

and

ther

efor

e w

ill n

ot m

atch

the

base

figu

re s

how

n in

the

tabl

e on

pag

e 85

.


VIC

E P

RO

VO

ST

FO

R G

RA

DU

AT

E E

DU

CA

TIO

N20

18/1

9 C

onso

lid

ated

Bud

get

Pla

n[I

N T

HO

USA

ND

S O

F D

OLL

ARS

]

201

6/17

20

17/1

8

OP

ERAT

ING

DESI

GNAT

ED

REST

RICT

ED

REST

RICT

ED

GRAN

TS &

AU

XILIA

RY &

2

018/

19

AC

TUAL

S PR

OJEC

TION

BU

DGET

FU

NDS

EXPE

NDAB

LE

ENDO

WM

ENT

CONT

RACT

S SE

RVIC

E CE

NTER

TO

TAL

Re

venu

es

8,38

8

7,76

7

G

ener

al F

unds

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catio

n 8,

090

8,09

0

33,

040

33

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ricte

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187

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0)

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sfer

s 2,

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102

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058

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tal R

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(702

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0

0

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pens

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0

567

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cade

mic

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s 88

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88

7

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030

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055

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aff S

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440

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nefit

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nsat

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1,57

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999

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pens

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828

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296

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tern

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0

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45)

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sfer

s Fr

om (

to)

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ent &

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sset

s (3

06)

(3

06)

Tr

ansf

ers

From

(to

) Pl

ant

(2

,332

) (2

,980

) Su

rplu

s /

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cit)

(2

76)

(1,5

31)

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) (3

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) 0

0

(5

,144

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54,

843

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ginn

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s (3

5)

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511

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ding

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d Ba

lanc

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(311

) 22

,386

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381

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Not

es:

• Th

is s

ched

ule

does

not

incl

ude

endo

wm

ent p

rinc

ipal

, stu

dent

loan

fund

s, o

r pl

ant f

unds

.

• T

he g

ener

al fu

nds

allo

cati

on s

how

n in

this

sch

edul

e in

clud

es o

ne-t

ime

allo

cati

ons

and

ther

efor

e w

ill n

ot m

atch

the

base

figu

re s

how

n in

the

tabl

e on

pag

e 85

.


VIC

E P

RO

VO

ST

FO

R T

EA

CH

ING

AN

D L

EA

RN

ING

2018

/19

Con

soli

dat

ed B

udge

t P

lan

[IN

TH

OU

SAN

DS

OF

DO

LLA

RS]

201

6/17

20

17/1

8

OP

ERAT

ING

DESI

GNAT

ED

REST

RICT

ED

REST

RICT

ED

GRAN

TS &

AU

XILIA

RY &

2

018/

19

AC

TUAL

S PR

OJEC

TION

BU

DGET

FU

NDS

EXPE

NDAB

LE

ENDO

WM

ENT

CONT

RACT

S SE

RVIC

E CE

NTER

TO

TAL

Re

venu

es 1

0,82

6

11,5

01

G

ener

al F

unds

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catio

n 12

,092

12,0

92

41,

784

33

,579

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ricte

d Re

venu

es

1,02

5 33

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1,

200

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4

35,4

21

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Inte

rnal

Rev

enue

43

0 (2

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)

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(5

,251

) (2

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Ope

ratin

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ansf

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13,6

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(17,

741)

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(4

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45,

480

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tal R

even

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27,2

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0

27

0

0

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32

Ex

pens

es

1,

752

1,

794

Aca

dem

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alar

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747

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3

127

1,84

7

14,

422

15

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Staf

f Sal

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s 13

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2,

294

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2

15

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083

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764

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fits

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ther

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pens

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n 5,

686

1,

903

34

0

1

7,93

0

16,

799

13

,857

Non

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nses

7,

088

6,

954

10

5

24

14,1

71

1,

576

1,

496

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rnal

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ense

s 68

5

692

88

3

1,

468

42,

632

39

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tal E

xpen

ses

27,2

13

12,8

14

1,11

2

28

0

0

41,1

67

2,

848

20

4

Ope

rati

ng R

esul

ts

(11)

(1

0)

88

(1)

0

0

66

(4

84)

Tr

ansf

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) En

dow

men

t & O

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ets

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ansf

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(to

) Pl

ant

2,

364

20

4

Surp

lus

/ (D

efici

t)

(11)

(1

0)

88

(1)

0

0

66

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345

11

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Be

ginn

ing

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ance

s 62

10

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1,

037

14

6

11,9

12

11,

708

11

,912

En

ding

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d Ba

lanc

es

51

10,6

57

1,12

5

144

11

,978

Not

es:

• Th

is s

ched

ule

does

not

incl

ude

endo

wm

ent p

rinc

ipal

, stu

dent

loan

fund

s, o

r pl

ant f

unds

.

• T

he g

ener

al fu

nds

allo

cati

on s

how

n in

this

sch

edul

e in

clud

es o

ne-t

ime

allo

cati

ons

and

ther

efor

e w

ill n

ot m

atch

the

base

figu

re s

how

n in

the

tabl

e on

pag

e 85

.


VIC

E P

RE

SID

EN

T F

OR

TH

E A

RT

S20

18/1

9 C

onso

lid

ated

Bud

get

Pla

n[I

N T

HO

USA

ND

S O

F D

OLL

ARS

]

201

6/17

20

17/1

8

OP

ERAT

ING

DESI

GNAT

ED

REST

RICT

ED

REST

RICT

ED

GRAN

TS &

AU

XILIA

RY &

2

018/

19

AC

TUAL

S PR

OJEC

TION

BU

DGET

FU

NDS

EXPE

NDAB

LE

ENDO

WM

ENT

CONT

RACT

S SE

RVIC

E CE

NTER

TO

TAL

Re

venu

es

3,85

7 4,

459

G

ener

al F

unds

Allo

catio

n 4,

678

4,

678

19,

338

17,1

59

Re

stric

ted

Reve

nues

3,93

1 6,

029

6,91

7 52

2

17,3

98

(8

0)

(199

)

Inte

rnal

Rev

enue

(294

)

(2

94)

1,

876

1,16

3

Ope

ratin

g Tr

ansf

ers

18,7

53

(3,9

95)

(6,6

85)

(7,2

28)

846

24,

990

22,5

82

Tota

l Rev

enue

s 23

,431

(3

59)

(656

) (3

10)

522

0 22

,628

Ex

pens

es

24

9 25

7

Aca

dem

ic S

alar

ies

204

30

234

6,

980

7,57

5

Staf

f Sal

arie

s 9,

003

9,

003

3,

372

2,84

2

Bene

fits

& O

ther

Com

pens

atio

n 3,

294

29

3,32

4

9,

641

12,8

34

N

on-S

alar

y Ex

pens

es

10,6

01

486

500

500

463

12

,549

93

8 70

4

Inte

rnal

Exp

ense

s 32

8

40

40

408

21,

180

24,2

11

Tota

l Exp

ense

s 23

,431

48

6 54

0 54

0 52

2 0

25,5

20

3,

810

(1,6

29)

Ope

rati

ng R

esul

ts

0 (8

45)

(1,1

96)

(850

) 0

0 (2

,892

)

2,

221

Tr

ansf

ers

From

(to

) En

dow

men

t & O

ther

Ass

ets

(200

) Tr

ansf

ers

From

(to

) Pl

ant

(1,0

13)

(1

,013

)

6,

031

(1,8

29)

Surp

lus

/ (D

efici

t)

0 (8

45)

(2,2

09)

(850

) 0

0 (3

,905

)

21,

729

27,7

62

Begi

nnin

g Fu

nd B

alan

ces

10

2,59

4 16

,567

6,

762

25,9

33

27,

762

25,9

33

Endi

ng F

und

Bala

nces

10

1,

749

14,3

58

5,91

1

22

,028

Not

es:

• Th

is s

ched

ule

does

not

incl

ude

endo

wm

ent p

rinc

ipal

, stu

dent

loan

fund

s, o

r pl

ant f

unds

.

• T

he g

ener

al fu

nds

allo

cati

on s

how

n in

this

sch

edul

e in

clud

es o

ne-t

ime

allo

cati

ons

and

ther

efor

e w

ill n

ot m

atch

the

base

figu

re s

how

n in

the

tabl

e on

pag

e 85

.


HO

OV

ER

IN

ST

ITU

TIO

N20

18/1

9 C

onso

lid

ated

Bud

get

Pla

n[I

N T

HO

USA

ND

S O

F D

OLL

ARS

]

201

6/17

20

17/1

8

OP

ERAT

ING

DESI

GNAT

ED

REST

RICT

ED

REST

RICT

ED

GRAN

TS &

AU

XILIA

RY &

2

018/

19

AC

TUAL

S PR

OJEC

TION

BU

DGET

FU

NDS

EXPE

NDAB

LE

ENDO

WM

ENT

CONT

RACT

S SE

RVIC

E CE

NTER

TO

TAL

Re

venu

es

845

1,

010

Gen

eral

Fun

ds A

lloca

tion

1,

067

1,06

7

61,

034

63

,507

Rest

ricte

d Re

venu

es

100

725

36

,455

29

,632

67

5

67

,588

17

1

81

In

tern

al R

even

ue

83

83

(8

83)

300

Ope

ratin

g Tr

ansf

ers

71,0

65

(808

) (4

0,42

4)

(29,

632)

20

0

61,

167

64

,898

To

tal R

even

ues

72,2

31

0

(3,9

69)

0 67

5

0

68,9

37

Ex

pens

es

21,

553

21

,589

Aca

dem

ic S

alar

ies

22,2

68

15

263

269

22,8

14

9,

838

10

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f Sal

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s 11

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13

19

2

69

11,4

89

12,

677

12

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fits

& O

ther

Com

pens

atio

n 12

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9

14

1

15

3

12

,710

19,

852

22

,880

Non

-Sal

ary

Expe

nses

24

,179

40

131

18

4

24

,534

2,

227

2,

669

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rnal

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ense

s 2,

627

48

10

2,68

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66,

146

69

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To

tal E

xpen

ses

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95

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643

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2

675

0

74

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(4

,979

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pera

ting

Res

ults

(4

64)

(77)

(4

,612

) (1

42)

0

0

(5,2

94)

2,

559

1,

500

Tr

ansf

ers

From

(to

) En

dow

men

t & O

ther

Ass

ets

Tr

ansf

ers

From

(to

) Pl

ant

(2

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) (3

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) Su

rplu

s /

(Defi

cit)

(4

64)

(77)

(4

,612

) (1

42)

0

0

(5,2

94)

45,

938

43

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Be

ginn

ing

Fund

Bal

ance

s 46

4

982

37

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1,

261

40

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43,

518

40

,231

En

ding

Fun

d Ba

lanc

es

90

5

32,9

12

1,12

0

34,9

36

Not

es

• Th

is s

ched

ule

does

not

incl

ude

endo

wm

ent p

rinc

ipal

, stu

dent

loan

fund

s, o

r pl

ant f

unds

.

• G

rant

s an

d C

ontr

acts

reve

nue

incl

udes

Indi

rect

Cos

t Rec

over

y; th

is s

ame

amou

nt is

cha

rged

as

a N

on-S

alar

y Ex

pens

e fo

r in

fras

truc

ture

and

gen

eral

adm

inis

trat

ive

cost

s of

rese

arch

.


STA

NFO

RD

UN

IVE

RS

ITY

LIB

RA

RIE

S20

18/1

9 C

onso

lid

ated

Bud

get

Pla

n[I

N T

HO

USA

ND

S O

F D

OLL

ARS

]

201

6/17

20

17/1

8

OP

ERAT

ING

DESI

GNAT

ED

REST

RICT

ED

REST

RICT

ED

GRAN

TS &

AU

XILIA

RY &

2

018/

19

AC

TUAL

S PR

OJEC

TION

BU

DGET

FU

NDS

EXPE

NDAB

LE

ENDO

WM

ENT

CONT

RACT

S SE

RVIC

E CE

NTER

TO

TAL

Re

venu

es 5

7,00

2

58,1

06

G

ener

al F

unds

Allo

catio

n

57,3

30

1,70

0

59,0

30

26,

798

28

,261

Rest

ricte

d Re

venu

es

50

406

1,

424

16

,932

1,

938

7,

550

28

,300

41

6

445

Inte

rnal

Rev

enue

30

0 88

54

442

3,

491

3,

931

Ope

ratin

g Tr

ansf

ers

14,1

78

605

(7

34)

(11,

247)

899

3,

701

87,

707

90

,743

To

tal R

even

ues

71,8

58

1,09

9

690

5,

685

1,

938

10

,203

91

,474

Ex

pens

es

10,

897

11

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Aca

dem

ic S

alar

ies

11,4

21

120

16

6

12

11,7

20

21,

528

22

,679

Staf

f Sal

arie

s 18

,244

10

1

182

1,12

6

3,76

1

23,4

14

12,

902

12

,982

Bene

fits

& O

ther

Com

pens

atio

n 11

,386

77

19

9

30

381

1,

265

13

,337

35,

763

36

,921

Non

-Sal

ary

Expe

nses

28

,757

61

76

4,

945

43

1

4,04

3

38,3

14

3,

703

3,

615

Inte

rnal

Exp

ense

s 2,

001

71

402

741

3,

215

84,

793

87

,394

To

tal E

xpen

ses

71,8

09

359

69

5

5,39

0

1,93

8

9,81

0

90,0

00

2,

914

3,

348

O

pera

ting

Res

ults

50

74

0

(5)

295

0

39

3

1,47

3

(1

19)

8

Tran

sfer

s Fr

om (

to)

Endo

wm

ent &

Oth

er A

sset

s

5

5

90

Tran

sfer

s Fr

om (

to)

Plan

t

2,

795

3,

446

Su

rplu

s /

(Defi

cit)

50

74

0

0

295

0

39

3

1,47

8

12,

101

14

,896

Be

ginn

ing

Fund

Bal

ance

s 56

9

4,84

7

2,58

9

7,45

5

2,

882

18

,343

14,

896

18

,343

En

ding

Fun

d Ba

lanc

es

619

5,

587

2,

589

7,

751

3,27

5

19,8

21

Not

es:

• Th

is s

ched

ule

does

not

incl

ude

endo

wm

ent p

rinc

ipal

, stu

dent

loan

fund

s, o

r pl

ant f

unds

.

• G

rant

s an

d C

ontr

acts

reve

nue

incl

udes

Indi

rect

Cos

t Rec

over

y; th

is s

ame

amou

nt is

cha

rged

as

a N

on-S

alar

y Ex

pens

e fo

r in

fras

truc

ture

and

gen

eral

adm

inis

trat

ive

cost

s of

rese

arch

.

• Th

e ge

nera

l fun

ds a

lloca

tion

sho

wn

in th

is s

ched

ule

incl

udes

one

-tim

e al

loca

tion

s an

d th

eref

ore

will

not

mat

ch th

e ba

se fi

gure

sho

wn

in th

e ta

ble

on p

age

85.


AUXILIARY ACTIVITIESA

TH

LET

ICS

2018

/19

Con

soli

dat

ed B

udge

t P

lan

[IN

TH

OU

SAN

DS

OF

DO

LLA

RS]

20

16/1

7 20

17/1

8

DESI

GNAT

ED

REST

RICT

ED

ENDO

WM

ENT

ENDO

WM

ENT

2018

/19

AC

TUAL

S PR

OJEC

TION

AU

XILIA

RY

FUND

S EX

PEND

ABLE

SC

HOLA

RSHI

P OT

HER

TOTA

L

Re

venu

es

48

,528

53

,886

Inte

rcol

legi

ate

54,3

00

54,3

00

22

,715

23

,458

Rest

ricte

d Re

venu

es—

Scho

lars

hips

24,1

97

24

,197

32

,621

18

,970

Rest

ricte

d Re

venu

es—

Oth

er

11,3

10

7,

400

18

,709

14

,301

15

,645

Uni

vers

ity F

unds

16

,399

16

,399

7,

498

9,

676

Aux

iliar

ies

(e.g

., G

olf C

ours

e)

9,96

7

9,96

7

12

,095

8,

498

Oth

er

6,87

4

1,75

0

8,

624

7,

736

7,

690

Cam

ps

711

7,

000

7,71

1

1,

492

4,

935

Ope

ratin

g Tr

ansf

ers

17,7

46

(1,7

50)

(8,5

96)

(7

,400

)

146,

986

14

2,75

8

Tota

l Rev

enue

s an

d Tr

ansf

ers

105,

997

7,

000

2,

713

24

,197

0

13

9,90

7

Ex

pens

es

63

,958

65

,597

Com

pens

atio

n 65

,152

3,

900

69,0

52

24

,828

26

,000

Scho

lars

hips

2,

713

24

,197

26,9

10

23

,534

15

,717

Faci

litie

s/M

aint

enan

ce

15,9

00

100

16,0

00

9,

813

12

,217

Trav

el/E

nter

tain

men

t 12

,583

20

0

12

,783

10

,814

10

,214

Gen

eral

Ser

vice

s/Su

pplie

s 6,

440

2,

800

9,24

0

3,

456

8,

132

Oth

er

9,14

4

9,14

4

40

0

395

Deb

t Ser

vice

40

7

407

79

5

176

Cap

ital E

xpen

ditu

res

175

17

5

137

,597

13

8,44

7

To

tal E

xpen

ses

109,

801

7,

000

2,

713

24

,197

0

14

3,71

1

26

3

(8,0

00)

Tr

ansf

ers

(To)

/Fro

m A

sset

s

9,

652

(3

,689

)

Surp

lus/

(Defi

cit)

(3

,804

) 0

0

0

0

(3

,804

)

11

,056

20

,705

Begi

nnin

g Fu

nd B

alan

ces

(225

) 4,

143

12

,337

760

17

,015

20

,705

17

,016

Endi

ng F

und

Bala

nces

(4

,029

) 4,

143

12

,337

760

13

,211


AUXILIARY ACTIVITIES

RESIDENTIAL & DINING ENTERPRISES2018/19 Auxiliary Budget Plan*[IN THOUSANDS OF DOLLARS] 2016/17 2017/18 2018/19 ACTUALS PROJECTION PLAN

Revenues Student Payments—Room & Board 159,931 166,988 174,880

Student Payments—R&B Off Campus 14,381 14,785 15,346

Conference Income 16,789 17,490 17,894

Catering and Executive Dining 20,073 19,609 19,464

Retail, Concessions, and Vending 10,908 11,317 11,759

Stanford Guest House 5,234 5,540 5,622

Other Operating Income 6,304 6,011 6,905

Interest Income 296 286 296

Total Revenues 233,916 242,026 252,166

Transfers Grad Housing Subsidy: Off Campus 18,320 19,840 21,269

Debt Service & Rate Containment Subsidies 15,817 13,911 13,893

Transfers (Net) related to Capital Projects (4,165) (185) (3,130)

Transfers to ResEd, ResComp and GLO (10,700) (11,006) (11,376)

Total Transfers 19,272 22,560 20,656

Total Revenue and Transfers 253,188 264,586 272,822

Expenses Salaries and Benefits 71,844 76,366 80,777

Food Cost 16,615 17,281 17,522

EM&S, Services, Commissions and Other 24,796 30,109 27,187

Rental and Leases Off Campus 30,002 31,254 33,159

Utilities and Telecommunication 15,605 15,370 16,169

Maintenance and Asset Renewal 28,144 30,707 33,546

Debt Service 57,440 54,568 53,936

G&A, Insurance and Taxes 8,742 8,931 10,526

Total Expenses 253,188 264,586 272,822

Auxiliary Operating Results 0 0 0

Transfers (Net) To/From Reserves 1,447 (1,960) (950)

Total Results and Transfers 1,447 (1,960) (950)

Beginning Fund Balance 22,115 23,562 21,602

Projected Ending Fund Balance 23,562 21,602 20,652

Notes:• The revenue, transfer, and expense amounts in this table represents the auxiliary operation of R&DE only.

• Fund Balance does not include endowment principal—$4 million Funds Functioning as Endowment (FFE).


103APPENDIX B: SUPPLEMENTARY INFORMATION

APPENDIX B

SUPPLEMENTARY INFORMATION

The tables and graphs in this Appendix provide historical and statistical data on enrollment, tuition and

room and board rates, financial aid, faculty, staff, selected expenditures, the endowment, and fund

balances. The short summaries below serve as an introduction to the schedules and highlight interesting

trends or historical occurrences.

Schedule 1—Student Enrollment for Autumn QuarterTotal enrollment for undergraduate and graduate students

rose slightly less in 2017/18 as compared to the prior

year’s growth. As recorded in autumn 2017, undergraduate

enrollment was 7,056 and total graduate enrollment was

9,368. Overall enrollment grew 0.5% over the prior year,

comparable to a 0.6% median of year-over-year growth

from the past 5 years. The graduate student body continues

to grow at a faster pace than the undergraduate, growing

0.7% over last year’s enrollment versus 0.3% growth in

undergraduate enrollment.

Schedule 2—Freshman Student Apply/Admit/Enroll StatisticsStanford’s matriculant yield of 1,703 in the fall of 2017 is

in fact at the same level as ten years ago. The number did

drop slightly from the prior year with 36 fewer students. As

Stanford’s popularity rises (as seen by significant growth

in applications over the past ten years), the percent of

applicants admitted has declined to account for the number

of admission spots and maintain the overall undergraduate

class size. Even so, Stanford continues its prominence as a

top tier institution and is second only to Harvard among its

peers in the percent of admitted applicants that decide to

enroll with an 81.7% yield rate.

Schedule 3—Graduate Student Apply/Admit/Enroll StatisticsThe entering graduate student body followed a similar trend

to the freshman undergraduate class. Application numbers

grew at a slower pace than the prior year with only a 0.7%

increase. Of the 45,907 applications, 4,157 were admitted,

resulting in a 9.1% admit rate. This rate follows a general

downward trend in admit rates over the past ten years.

Notably though, the percent of those admitted who went on

to enroll was 64.9%, which is the highest yield rate in the

past ten years.

Schedule 4—Postdoctoral Scholars by School and by GenderThe postdoctoral scholar population in most schools

continues to trend up. Slightly higher growth in the School of

Engineering and School of Medicine drove a total growth of

3.4% over the prior year. Of the 2,375 postdoctoral scholars

in 2017/18, almost 60% reside in the School of Medicine. The

distribution of postdoctoral scholars by gender has remained

roughly 40% female and 60% male over the past ten years.

Schedule 5—Graduate Student and Postdoc SupportAt Stanford, teaching assistants and research assistants earn

salaries as part of their compensation, and most receive an

allowance towards their tuition charges. Graduate fellows

receive financial aid that covers some or all of their tuition

charges, and most receive stipends that help cover living and

research-related expenses. Postdoctoral students receive

104 APPENDIX B: SUPPLEMENTARY INFORMATION

salaries and benefits as part of their appointment, and many

also receive tuition allowance and living expense stipends.

Grants and contracts cover roughly a quarter of graduate

student expenses and about 70% of postdoctoral scholar

expenses. University and school unrestricted (or general

use) funds, designated funds, and endowment income

funds restricted specifically to graduate student aid cover

the remaining expenses. In 2016/17, the total support to

graduate students and postdoctoral scholars at Stanford

reached $559 million as graduate support increased 6.9%

and postdoctoral support increased 7.2% over the prior year.

There are three main factors that drive the university’s growth

in graduate and postdoctoral support: 1) enrollment growth,

2) tuition and salary growth, and 3) an increasingly larger

share of the student body receiving support as units expand

their programs and funding support.

Schedule 6—Graduate Enrollment by School and DegreeThis table shows the trend of graduate student enrollment

within each school and across degree programs. In 2017/18

approximately 61% of graduate student enrollments were

in either H&S or Engineering. The enrollment has increased

university-wide over the ten-year span at a compounded

annual growth rate of 1.3%. During this period, School of

Medicine has added the most students (279) while School

of Earth, Energy & Environmental Sciences has had the

fastest total growth (46%). In particular, the Master’s

student body fluctuated among the units considerably with

declines in Engineering and Humanities & Sciences dropping

86 and 62 students respectively. Offsetting these declines,

Master’s students in the School of Medicine grew by 58

students primarily due to the launch of the Master of Science

in Physician Assistant Studies program. In spite of these

shifts, the makeup of graduate students has stayed relatively

consistent over this period: 52% doctorate, 28% masters, and

20% professional.

Schedule 7—Undergraduate Tuition and Room & Board RatesThe 2018/19 annual undergraduate tuition rate, mandatory

fees, and cost of room and board are projected to increase to

$67,117, an increase of 3.7% versus the previous year. While

annual increases have remained at 3.5% for the past five

years, room and board charges will increase 4.3% in 2018/19,

causing the slightly higher total cost growth rate. The room

and board increase will provide additional funding needed

to proactively address aging utility infrastructure between

buildings and main lines, ensuring long-term savings on

maintenance costs.

Schedule 8—Undergraduate Financial Aid by Type of Aid and Source of FundsThis schedule shows the various types of financial aid

awarded to undergraduate students, including non-need

based scholarships. In 2016/17, total undergraduate financial

aid was $194.5 million, a 4.6% increase over the previous

year. Combined funding from federal and state grants

continued their decreasing trend, collectively dropping from

$10.2 million in 2013/14 to $9.4 million in 2016/17 (more

drastic if factoring in inflation). During this same period,

scholarships awarded by Stanford increased from $146.4

million to $167.2 million. This upward trend is primarily driven

by restricted gift and endowment income support, which has

grown 6.9% annually during the past four years on average.

Schedule 9—Undergraduate Need-Based Financial AidThis schedule shows the total needs and sources of support

for undergraduate students who receive need-based

financial aid. The total needs are driven by the growth in

the student budget and by the number of students on aid.

For 2018/19, the budget for need-based aid will increase by

5.1%. This increase is greater than the 3.7% overall increase

in tuition and room and board rates mostly due to Stanford’s

commitment to and success in building the capacity of the

university to provide more opportunities to first-generation

and low-income students. The endowment has played a

progressively larger role toward this aim, comprising 46.5%

of projected funding sources in 2018/19 as compared with

41% in 2013/14, thereby availing unrestricted funds to be

redirected to other areas of the university.

Schedule 10—Majors with the Largest Number of Baccalaureate Degrees ConferredThis schedule shows the twenty undergraduate majors

that granted the most degrees in 2016/17. Human Biology

was the most popular degree up through 2012/13. Starting

in 2013/14, Computer Science took the top spot, posting


a significant growth of 60% over 2012/13. Nearly all

undergraduate students and a growing number of graduate

students take the introductory Computer Science course.

Computer Science degrees continued to grow in 2016/17,

increasing 3%, as well as the combination of Chemical,

Electrical, and Mechanical Engineering degrees, which

increased collectively at a rate of 5%.

Schedule 11—Students Housed on CampusThe percentage of undergraduate students housed on

campus has been above 90% for the twenty years shown in

this table. The graduate on-campus housing program has

expanded significantly since 1998/99, and the trailing ten-

year average of graduate students housed by Stanford is 58%.

The subsidized off-campus housing program for graduate

students has grown rapidly from 362 students in 2013/14 to

1146 students in 2017/18, due to a displacement caused by

the construction of new graduate housing on campus. For

2017/18, the percentage of graduate students housed by

Stanford has grown to 64.0%, from 60.1% in 2014/15. This

percentage will increase significantly in the coming years

with the new Escondido Village Graduate Residences, which

is expected to open in Fall 2020.

Schedule 12—Total Professorial FacultyThe total professoriate has increased by 39 (1.8%) to 2,219

in 2017/18, not far off from the ten-year annual growth rate

of 1.9%. Whereas tenure-line faculty grew modestly at 0.7%

overall, non-tenure line professors grew by 4.4%, mostly

due to Medical Center Line faculty growth in the School of

Medicine.

Schedule 13—Distribution of Tenured, Non-Tenured, and Non-Tenure Line FacultyThis schedule provides a disaggregated view of the data in

Schedule 12 by school over the last three years. The School

of Medicine and School of Humanities and Sciences have held

roughly 70% of faculty appointments across the university.

At the university level the total number of tenured faculty

expanded by 20 (about 1.7%), the number of non-tenured

faculty in the tenure line stayed relatively flat, and the number

of non-tenure line faculty increased by 47 (about 7%) from

2015/16 to 2017/18. The School of Medicine continues to

drive the majority of faculty growth, increasing tenured and

non-tenure line faculty by 5.8% and 8.9% respectively during

this three-year period.

Schedule 14—Number of Non-Teaching EmployeesThis schedule shows the number of regular non-teaching

employees by academic, administrative, and auxiliary units.

The number of employees increased by 456 (3.3% growth)

in 2017. In particular, the School of Medicine grew 4.4% by

adding 213 employees. Although not as high as in prior years,

the School of Medicine’s expansion is a result of continued

growth in clinical and research activity. The university

established the Vice President for the Arts in 2017 resulting

in the transition of staff from Humanities and Sciences to

the new unit (included under “Other Academic”). Since

2008/09 when Stanford was forced to right-size because of

the recession, it has experienced a continuous annual growth

of around 3%.

Schedule 15—Fringe Benefits DetailFringe benefits rates provide a mechanism to support

the various components of non-salary compensation for

employees. Stanford has four distinct fringe benefits rates

for (1) regular benefits-eligible employees, which include

most faculty and staff; (2) postdoctoral research affiliates;

(3) casual/temporary employees; and (4) graduate research

and teaching assistants. This schedule shows the programs

and costs that contribute to the weighted average of the four

individual benefits rates, which was 27.9% in 2016/17. Versus

2015/16, the total fringe benefits program costs increased

by 5.0% in 2016/17, which is in line with annual growth from

2009/10 (6.8%). Retirement and insurance benefits, which

account for 91% of fringe benefits, grew by 9.4% and 5.4%,

respectively. Severance pay noticeably dropped from a peak

in 2015/16, thus returning to a level in line with the average

from the last eight years.

Schedule 16—Sponsored Research Expense by Agency and Fund SourceIn 2016/17, federally sponsored research expenses increased

2.6% to a total of $696.1 million, continuing a trend of slower

growth since the 5.5% increase experienced in 2014/15.

The research expenses sponsored by non-federal sources

remained at the same high rate of growth as the prior year,

increasing 9.4% to a total of $291.1 million. Overall, the direct

research volume was $730.1 million in 2016/17. The mix of

funding has slowly shifted from federal to non-federal over

the displayed period. Ten years earlier in 2007/08, federal

direct research comprised 77.5% of direct funding, but that

figure fell to 67.2% in 2016/17.


Schedule 17—Sponsored Research Contracts and Grants by SchoolThis table presents the sponsored research expenses for

the schools and the Dean of Research over seven years.

The School of Medicine holds the majority share of these

expenses at 65%, though it’s annual growth has slowed to

6.7% since the large 11.4% growth in 2014/15. The other

two units with the largest share of sponsored research are

the School of Humanities and Sciences and the School of

Engineering, increasing 3.3% and 3.7% respectively over

the prior year. Though its share of total sponsored research

expense is small, the Graduate School of Business recorded

the largest percent increase, growing 72.3% over the

prior year.

Schedule 18—Plant Expenditures by Unit This schedule shows historical expenses from reserves or

borrowed funds for building or infrastructure projects related

to various units. Expenditures for equipment are excluded

from these figures. Total plant expenditures in 2016/17 were

$399.6 million. Some key drivers of the plant expenditures

include project completions of the Sapp Center for Science

Teaching and Learning, the David and Joan Traitel Building

(formerly Hoover Institution Conference Center and Office

Building), and the Roble Field Garage. In addition, projects in

design and construction contributed to plant expenditures,

such as Stanford Redwood City-Phase 1, the Anne T. and

Robert M. Bass Biology Research Building, and the Escondido

Village Graduate Residences and Parking Structures.

Schedule 19—Endowment Market Value and Merged Pool Rate of Return The annual nominal rate of return for the merged pool

in 2016/17 was 13.1% for the 12 months ending June 30,

2017. Though this positive performance did slightly trail

the 13.2% median return for U.S. colleges and universities,

it outperformed the 12.8% return for a traditional “70/30”

portfolio of equities and bonds. The endowment market

value grew to $24.8 billion, a 10.7% increase over 2015/16.

The target payout rate remains 5.5%.

Schedule 20—Expendable Fund Balances at Year EndThis schedule shows total expendable fund balances

(excluding sponsored research) by academic unit (excluding

SLAC) over the past decade. Aided by continuous growth in

its health care services revenue, the School of Medicine will

triple its fund balance in 2018/19 compared with 2008/09.

In the same time frame, it will go from representing 37% of

the total academic unit fund balances to 54%. Other units

with fast expendable fund balance growth over this time

period include the Graduate School of Business, the Graduate

School of Education, and Dean of Research.

Schedule 21—Academic Unit Expendable Fund Balances at Year End by Level of ControlThis schedule shows total expendable fund balances

(excluding sponsored research) by level of control within

the academic units over the last three years along with the

compound annual growth. “Level of control” indicates the

authority of funds within each school. Overall, approximately

80% of the fund balances comprise the combination of

school/institution and department/program levels in the

past three years. The dynamics of fund balance growth has

also varied by level of control among the schools. The fund

balances at the department/program and faculty levels had

significant annual growth at 11.4% and 15.3%, respectively,

while fund balances show a small 1.6% increase at the

school/institution level.

Schedule 22—Consolidated Budget for Operations HistoryThis schedule shows actual results from 2011/12 through

2016/17, including the 2017/18 year end projection and

the 2018/19 budget plan for the Consolidated Budget

for Operations. While expense growth has outpaced

revenue growth for the period shown (6.7% versus 6.1%,

respectively), the net operating results each year continue

to provide steady additions to fund balances, even after

transfers to assets such as endowment principal and plant.

On average, the university nets an operating income of

roughly 8% of revenue over the displayed period.


SCHEDULE 1

STUDENT ENROLLMENT FOR AUTUMN QUARTER2008/09 through 2017/18

UNDERGRADUATE GRADUATE TGR 1 TOTAL TOTAL

YEAR WOMEN MEN TOTAL WOMEN MEN TOTAL WOMEN MEN TOTAL GRADUATE ALL

2008/09 3,384 3,428 6,812 2,450 4,509 6,959 548 821 1,369 8,328 15,140

2009/10 3,405 3,473 6,878 2,507 4,529 7,036 558 847 1,405 8,441 15,319

2010/11 3,334 3,553 6,887 2,635 4,678 7,313 597 869 1,466 8,779 15,666

2011/12 3,342 3,585 6,927 2,651 4,675 7,326 571 899 1,470 8,796 15,723

2012/13 3,346 3,653 6,999 2,697 4,690 7,387 600 884 1,484 8,871 15,870

2013/14 3,274 3,706 6,980 2,773 4,724 7,497 574 826 1,400 8,897 15,877

2014/15 3,314 3,704 7,018 2,887 4,809 7,696 596 826 1,422 9,118 16,136

2015/16 3,331 3,663 6,994 2,966 4,776 7,742 584 870 1,454 9,196 16,190

2016/17 3,412 3,620 7,032 3,030 4,901 7,931 557 816 1,373 9,304 16,336

2017/18 3,546 3,510 7,056 3,159 4,797 7,956 567 845 1,412 9,368 16,424

Source: IR&DS Office, fall quarter third week enrollment figures.1 Terminal Graduate Registration (TGR) allows students to register at a reduced tuition rate

while they work on a dissertation, thesis, or department project.


SCHEDULE 2

FRESHMAN APPLY/ADMIT/ENROLL STATISTICSFall 2008 through Fall 2017

TOTAL APPLICATIONS ADMISSIONS ENROLLMENT PERCENT OF PERCENT OF PERCENT OF CHANGE FROM APPLICANTS ADMITTED PREVIOUS ADMITTED APPLICANTS YEAR NUMBER YEAR NUMBER (ADMIT RATE) NUMBER ENROLLING (YIELD)

Fall 2008 25,299 5.6% 2,400 9.5% 1,703 71.0%

Fall 2009 30,429 20.3% 2,426 8.0% 1,694 69.8%

Fall 2010 32,022 5.2% 2,340 7.3% 1,674 71.5%

Fall 2011 34,348 7.3% 2,437 7.1% 1,707 70.0%

Fall 2012 36,632 6.6% 2,423 6.6% 1,771 73.1%

Fall 2013 38,828 6.0% 2,208 5.7% 1,677 76.0%

Fall 2014 42,167 8.6% 2,145 5.1% 1,678 78.2%

Fall 2015 42,497 0.8% 2,140 5.0% 1,720 80.4%

Fall 2016 43,997 3.5% 2,118 4.8% 1,739 82.1%

Fall 2017 44,073 0.2% 2,085 4.7% 1,703 81.7%

Source: IR&DS Office.


GRADUATE STUDENT APPLY/ADMIT/ENROLL STATISTICSFall 2008 through Fall 2017

TOTAL APPLICATIONS ADMISSIONS ENROLLMENT PERCENT PERCENT OF PERCENT OF CHANGE FROM APPLICANTS ADMITTED PREVIOUS ADMITTED APPLICANTS YEAR ENTERING STANFORD NUMBER YEAR NUMBER (ADMIT RATE) NUMBER ENROLLING (YIELD)

Fall 2008 34,566 2.8% 4,350 12.6% 2,379 54.7%

Fall 2009 36,326 5.1% 4,419 12.2% 2,345 53.1%

Fall 2010 37,983 4.6% 4,580 12.1% 2,608 56.9%

Fall 2011 38,750 2.0% 4,570 11.8% 2,628 57.5%

Fall 2012 41,855 8.0% 4,439 10.6% 2,582 58.2%

Fall 2013 41,539 -0.8% 4,479 10.8% 2,630 58.7%

Fall 2014 43,992 5.9% 4,399 10.0% 2,625 59.7%

Fall 2015 44,437 1.0% 4,318 9.7% 2,656 61.5%

Fall 2016 45,577 2.6% 4,532 9.9% 2,698 59.5%

Fall 2017 45,907 0.7% 4,157 9.1% 2,696 64.9%

Source: IR&DS Office.

SCHEDULE 3


SCHEDULE 4

POSTDOCTORAL SCHOLARS BY SCHOOL AND BY GENDER 12008/09 through 2017/18

BY SCHOOL 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18

Graduate School of Business 0 2 0 0 0 0 0 0 0 0

School of Earth, Energy & Environmental Sciences 26 40 44 50 59 72 76 75 67 72

Graduate School of Education 10 11 9 9 12 19 20 22 19 23

School of Engineering 158 202 212 228 259 274 308 341 364 407

School of Humanities and Sciences 284 315 392 401 413 427 416 437 435 431

School of Law 1 1 0 2 1 2 0 0 0 0

School of Medicine 1,033 1,090 1,231 1,247 1,252 1,258 1,312 1,341 1,355 1,389

SLAC 0 0 0 0 0 8 21 48 57 53

Total 1,512 1,661 1,888 1,937 1,996 2,060 2,153 2,264 2,297 2,375

By Gender

Female 607 673 754 795 828 834 828 878 905 933

Male 905 988 1,134 1,142 1,168 1,226 1,325 1,386 1,392 1,442

Source: IR&DS Office, fall quarter third week enrollment figures.1 The postdoctoral scholar population includes medical fellows in the School of Medicine.


SCHEDULE 5

GR

AD

UA

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STU

DEN

T A

ND

PO

STD

OC

SU

PP

OR

T[I

N M

ILLI

ON

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]

2015

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2016

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GE

NERA

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RICT

ED

GENE

RAL/

SCHO

OL

RE

STRI

CTED

20

15/1

6 TO

201

6/17

FUNG

IBLE

DE

SIGNA

TED

ST

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GR

ANTS

&

FU

NGIB

LE

DESIG

NATE

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UDEN

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ANTS

&

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HANG

E

FUND

S 1 FU

NDS

FUND

S CO

NTRA

CTS

TOTA

L FU

NDS 1

FUND

S AI

D FU

NDS

CONT

RACT

S TO

TAL

AMOU

NT

PERC

ENT

Gra

duat

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uden

t Sup

port

Sa

larie

s

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hing

Ass

ista

nts

14.0

0.

5

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Oth

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alar

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0.5

0.

5

0.5

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nefit

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2

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Tota

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efits

26

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31

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6.6%

Tu

ition

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48.5

4.

4

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28.4

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Tota

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12

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0

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3

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6.

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Perc

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f Tot

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30.9

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7.2%

38

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23

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10

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33

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6.

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36.0

%

24.1

%

100.

0%

Post

docs

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larie

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9

12.4

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Be

nefit

s 1.

1

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7

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ition

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Perc

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f Tot

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3.8%

13

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14

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68

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10

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67.8

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100.

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1 G

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are

gene

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unds

and

som

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ift a

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that

can

be

used

for a

ny p

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ithin

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l.


SCHEDULE 6

GRADUATE ENROLLMENT BY SCHOOL AND DEGREE 1

2008/09 through 2017/18

2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17 2017/18

Graduate School of Business 877 895 928 940 961 971 1,002 1,007 1,012 1,048

Doctoral 99 97 101 105 103 110 121 130 131 126

Master’s 60 57 56 67 82 83 89 91 93 105

Professional 718 741 771 768 776 778 792 786 788 817

School of Earth, Energy & Environmental Sciences 256 286 309 338 350 349 361 365 356 374

Doctoral 202 219 233 270 277 267 283 293 287 298

Master’s 54 67 76 68 73 82 78 72 69 76

Graduate School of Education 346 335 365 355 343 355 334 341 312 313

Doctoral 178 166 181 171 178 181 171 158 151 153

Master’s 168 169 184 184 165 174 163 183 161 160

School of Engineering 3,267 3,289 3,452 3,452 3,418 3,381 3,419 3,458 3,523 3,502

Doctoral 1,568 1,593 1,604 1,694 1,716 1,707 1,671 1,721 1,760 1,825

Master’s 1,699 1,696 1,848 1,758 1,702 1,674 1,748 1,737 1,763 1,677

School of Humanities and Sciences 2,103 2,092 2,162 2,159 2,224 2,261 2,300 2,296 2,286 2,213

Doctoral 1,746 1,748 1,799 1,794 1,845 1,871 1,907 1,922 1,901 1,890

Master’s 357 344 363 365 379 390 393 374 385 323

School of Law 586 590 636 631 641 631 650 649 668 669

Doctoral 21 17 17 20 23 23 21 20 21 21

Master’s 2 39 35 63 59 63 55 70 68 83 89

Professional 526 538 556 552 555 553 559 561 564 559

School of Medicine 893 954 927 921 934 949 985 1,012 1,074 1,172

Doctoral 422 434 427 428 431 443 471 483 511 526

Master’s 35 62 59 64 61 60 64 74 106 164

Professional 436 458 441 429 442 446 450 455 457 482

Continuing Studies 67 68 73 77

Master’s 3 67 67 73 77

University-wide 8,328 8,441 8,779 8,796 8,871 8,897 9,118 9,196 9,304 9,368

Doctoral 4,236 4,274 4,362 4,482 4,573 4,602 4,645 4,727 4,762 4,839

Master’s 2,412 2,430 2,649 2,565 2,525 2,518 2,672 2,666 2,733 2,671

Professional 1,680 1,737 1,768 1,749 1,773 1,777 1,801 1,802 1,809 1,858

Source: IR&DS Office, fall quarter third week enrollment figures.1 Includes doctoral (including Terminal Graduate Registration), master’s, and professional students

(JDs, MDs, MBAs). Beginning 2014/15, includes MLA degrees.2 LLMs and JSMs are re-classified to Master’s in this table from 2012/13.3 Beginning 2014/15, MLA students from Continuing Studies are included.


SCHEDULE 7

UNDERGRADUATE TUITION, MANDATORY FEES, AND ROOM & BOARD RATES1988/89 through 2018/19[IN DOLLARS] PERCENT CHANGE PERCENT CHANGE PERCENT CHANGE FROM FROM FROM UNDERGRADUATE PREVIOUS ROOM & PREVIOUS PREVIOUS YEAR TUITION YEAR MANDATORY FEES 1 BOARD YEAR TOTAL COST YEAR

1988/89 12,564 5.8% 5,257 6.1% 17,821 5.9%

1989/90 13,569 8.0% 5,595 6.4% 19,164 7.5%

1990/91 14,280 5.2% 5,930 6.0% 20,210 5.5%

1991/92 15,102 5.8% 6,160 3.9% 21,262 5.2%

1992/93 16,536 9.5% 6,314 2.5% 22,850 7.5%

1993/94 17,775 7.5% 6,535 3.5% 24,310 6.4%

1994/95 18,669 5.0% 6,796 4.0% 25,465 4.8%

1995/96 19,695 5.5% 7,054 3.8% 26,749 5.0%

1996/97 20,490 4.0% 7,337 4.0% 27,827 4.0%

1997/98 21,300 4.0% 7,557 3.0% 28,857 3.7%

1998/99 22,110 3.8% 7,768 2.8% 29,878 3.5%

1999/00 23,058 4.3% 7,881 1.5% 30,939 3.6%

2000/01 24,441 6.0% 8,030 1.9% 32,471 5.0%

2001/02 25,917 6.0% 8,304 3.4% 34,221 5.4%

2002/03 27,204 5.0% 8,680 4.5% 35,884 4.9%

2003/04 28,563 5.0% 9,073 4.5% 37,636 4.9%

2004/05 29,847 4.5% 9,500 4.7% 39,347 4.5%

2005/06 31,200 4.5% 9,932 4.5% 41,132 4.5%

2006/07 32,994 5.8% 10,367 4.4% 43,361 5.4%

2007/08 34,800 5.5% 10,808 4.3% 45,608 5.2%

2008/09 36,030 3.5% 11,182 3.5% 47,212 3.5%

2009/10 37,380 3.7% 501 11,463 2.5% 49,344 4.5%

2010/11 38,700 3.5% 501 11,876 3.6% 51,077 3.5%

2011/12 40,050 3.5% 519 12,291 3.5% 52,860 3.5%

2012/13 41,252 3.0% 537 12,721 3.5% 54,510 3.1%

2013/14 42,690 3.5% 555 13,166 3.5% 56,411 3.5%

2014/15 44,184 3.5% 573 13,631 3.5% 58,388 3.5%

2015/16 45,729 3.5% 591 14,107 3.5% 60,427 3.5%

2016/17 47,331 3.5% 609 14,601 3.5% 62,541 3.5%

2017/18 48,987 3.5% 630 15,112 3.5% 64,729 3.5%

2018/19 50,703 3.5% 651 15,763 4.3% 67,117 3.7%

UNDERGRADUATE TUITION ROOM & BOARD TOTAL COST

Compound Annual Increase, 1988/89 – 2018/19 (30 years): 4.8% 3.7% 4.5% Compound Annual Increase, 2008/09 – 2018/19 (10 years): 3.5% 3.5% 3.6%

1 Campus health service fee.


SCHEDULE 8U

ND

ERG

RA

DU

AT

E FI

NA

NC

IAL

AID

BY

TY

PE

OF

AID

AN

D S

OU

RC

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F FU

ND

S 1

2007

/08

thro

ugh

2016

/17

[IN

TH

OU

SAN

DS

OF

DO

LLA

RS]

20

07/0

8 20

08/0

9 20

09/1

0 20

10/1

1 20

11/1

2 20

12/1

3 20

13/1

4 20

14/1

5 20

15/1

6 20

16/1

7

Stan

ford

Sch

olar

ship

s

Nee

d-ba

sed

Aw

ards

2

Sta

nfor

d U

nres

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ted

Fund

s 6,

701

9,93

3 32

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36

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34

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34

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24

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21

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18

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22

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Gift

s an

d En

dow

men

t Inc

ome

3 74

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99

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89

,180

83

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92

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93

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10

1,56

8 10

8,81

6 11

6,92

3 12

1,41

2

A

thle

tic A

war

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15,2

27

15,9

42

16,7

56

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81

18,0

18

18,7

87

20,1

41

19,9

52

22,7

27

23,6

88

Tota

l Sta

nfor

d Sc

hola

rshi

ps

96,4

15

125,

557

138,

739

136,

999

144,

864

145,

919

146,

367

150,

645

157,

680

167,

216

Exte

rnal

Gra

nts

Fede

ral

5,28

5 5,

627

7,49

5 7,

581

7,47

4 7,

211

6,87

2 7,

283

6,92

3 6,

946

St

ate

3,86

0 3,

117

3,54

8 3,

811

3,66

6 3,

474

3,34

4 3,

275

2,68

7 2,

503

O

ther

10

,070

10

,216

10

,304

10

,085

9,

904

9,45

9 9,

475

9,65

6 10

,177

10

,422

Tota

l Ext

erna

l Gra

nts

19,2

15

18,9

61

21,3

48

21,4

77

21,0

43

20,1

43

19,6

91

20,2

14

19,7

86

19,8

71

Loan

s

Fede

ral

6,54

5 4,

447

5,39

6 5,

083

5,78

6 5,

796

5,34

5 5,

405

4,40

2 4,

018

O

ther

3,

044

3,19

4 1,

610

1,87

4 2,

097

1,80

7 2,

049

2,41

3 2,

500

2,42

4

Tota

l Loa

ns

9,58

9 7,

641

7,00

6 6,

957

7,88

3 7,

603

7,39

4 7,

818

6,90

2 6,

442

Fede

ral W

ork-

Stud

y Ea

rnin

gs

1,02

2 1,

078

1,22

7 1,

212

1,33

6 1,

168

1,19

3 1,

053

1,60

3 99

1

Gra

nd T

otal

12

6,24

0 15

3,23

6 16

8,31

9 16

6,64

4 17

5,12

6 17

4,83

3 17

4,64

5 17

9,73

0 18

5,97

1 19

4,52

0

Sour

ce: I

R&D

S O

ffice

.1 F

igur

es a

re a

ctua

l exp

ense

s an

d ar

e in

thou

sand

s of

dol

lars

. Th

e da

ta in

clud

e al

l fun

ds a

war

ded

to u

nder

grad

uate

stu

dent

s ad

min

iste

red

thro

ugh

the

Fina

ncia

l Aid

Offi

ce, i

nclu

ding

aid

that

is n

ot n

eed-

base

d.2 I

nclu

de e

ndow

ed fu

nds

that

are

not

nee

d-ba

sed

per d

onor

s’ w

ishe

s. T

he a

mou

nt is

$10

6,44

2 in

201

6/17

. Th

us, t

he fi

gure

s in

this

sch

edul

e w

ill n

ot e

qual

the

sum

of t

he a

mou

nts

for S

tanf

ord

fund

ed n

eed-

base

d aw

ards

in S

ched

ule

9.3 I

nclu

des

supp

ort f

rom

the

Stan

ford

Fun

d.

Not

e: A

cor

rect

ion

was

mad

e to

the

Loan

s fig

ures

repo

rted

in 2

015/

16.


SCHEDULE 9

UN

DER

GR

AD

UA

TE

NEE

D-B

ASE

D F

INA

NC

IAL

AID

Proj

ecte

d 20

18/1

9 S

tude

nt B

udge

t N

eeds

and

Sou

rces

,In

clud

ing

Pare

ntal

and

Stu

dent

Con

trib

utio

ns 1

[IN

TH

OU

SAN

DS

OF

DO

LLA

RS]

201

7/18

TO 2

018/

19

20

13/1

4

2014

/15

20

15/1

6 20

16/1

7 20

17/1

8 20

18/1

9

CHA

NGE

AC

TUAL

S AC

TUAL

S AC

TUAL

S AC

TUAL

S PR

OJEC

TED

BUDG

ET

AMOU

NT

PERC

ENT

Nee

ds

Tuiti

on, R

oom

& B

oard

17

8,51

9

184,

179

18

6,45

5

195,

085

20

4,17

5

214,

731

10

,555

5.

2%

Bo

oks

and

Pers

onal

Exp

ense

s 17

,535

18

,134

18

,061

18

,695

19

,432

20

,274

84

3

4.3%

Tr

avel

2,

599

2,

635

2,

662

2,

755

2,

870

2,

989

11

9

4.1%

Tota

l Stu

dent

Exp

ense

s 19

8,65

2

204,

948

20

7,17

8

216,

534

22

6,47

7

237,

994

11

,517

5.

1%

Sour

ces

To

tal F

amily

Con

trib

utio

n (I

nclu

des

pare

nt c

ontr

ibut

ion

for a

ided

stu

dent

s,

se

lf-he

lp, s

umm

er s

avin

gs, a

sset

s, e

tc.)

58

,585

59

,861

57

,777

59

,136

59

,093

62

,323

3,

230

5.

5%

En

dow

men

t Inc

ome 2

81

,442

86

,921

95

,173

99

,860

10

4,27

7

110,

620

6,

343

6.

1%

Ex

pend

able

Gift

s 1,

765

2,

550

2,

798

2,

786

2,

415

2,

050

(3

65)

-15.

1%

Th

e St

anfo

rd F

und

18,2

88

18,4

60

18,4

98

18,6

73

20,3

24

19,6

50

(674

) -3

.3%

Fe

dera

l Gra

nts

5,51

1

5,76

5

5,77

7

5,80

9

5,80

0

5,97

3

173

3.

0%

C

alifo

rnia

Sta

te S

chol

arsh

ips

3,29

0

3,23

8

2,66

5

2,48

4

2,42

0

2,42

9

9

0.4%

O

utsi

de A

war

ds

4,78

2

5,20

6

5,72

5

5,53

4

5,48

4

5,80

4

320

5.

8%

D

epar

tmen

t Sou

rces

1,

433

1,

081

1,

396

1,

216

1,

200

1,

035

(1

65)

-13.

8%

U

nres

tric

ted

Fund

s 23

,555

21

,866

17

,368

21

,036

25

,464

28

,110

2,

646

10

.4%

Tota

l Sou

rces

19

8,65

2

204,

948

20

7,17

8

216,

534

22

6,47

7

237,

994

11

,517

5.

1%

Num

ber o

f Stu

dent

s on

Nee

d-Ba

sed

Aid

3,

278

3,

254

3,

196

3,

198

3,

242

3,

290

48

1.

5%1

In th

is ta

ble,

sou

rces

of a

id o

ther

than

the

fam

ily c

ontr

ibut

ion

incl

ude

only

aid

aw

arde

d to

stu

dent

s w

ho a

re re

ceiv

ing

scho

lars

hip

aid

from

Sta

nfor

d. T

hus,

the

sum

of t

he a

mou

nts

for s

chol

arsh

ips

and

gran

ts w

ill n

ot e

qual

the

figur

es in

Sch

edul

e 8.

2 En

dow

men

t inc

ome

incl

udes

rese

rve

fund

s an

d sp

ecifi

cally

inve

sted

fund

s.


SCHEDULE 10

MAJORS WITH THE LARGEST NUMBER OF BACCALAUREATE DEGREES CONFERRED 12007/08 through 2016/17

2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17

Computer Science 2 66 65 85 87 143 132 211 217 265 273

Human Biology 193 229 219 191 177 177 165 185 157 130

Engineering 73 93 82 99 99 98 123 125 103 100

Mechanical Engineering 55 48 54 56 50 60 53 79 94 86

Science, Technology, and Society 24 35 40 60 53 65 105 99 96 86

Economics 165 162 141 120 103 97 86 98 107 83

Biology 3 140 121 123 124 106 108 99 97 107 79

Symbolic Systems 28 29 18 21 21 37 44 38 55 63

Psychology 80 73 79 72 94 84 56 68 54 62

Electrical Engineering 37 47 36 43 39 36 33 42 50 61

International Relations 107 102 108 103 96 88 63 63 59 61

Management Science and Engineering 54 51 59 64 69 55 63 63 60 54

Political Science 96 71 74 72 72 55 61 44 54 53

Mathematical and Computational Science 16 25 22 20 17 25 23 31 27 42

History 50 59 63 56 67 67 48 36 45 41

English 57 75 69 58 68 67 55 51 56 40

Chemical Engineering 18 23 20 23 23 22 22 39 30 35

Mathematics 36 48 35 37 43 37 43 36 37 32

Earth Systems 26 24 32 40 53 33 44 30 21 29

Bioengineering 22 27

Source: SIRIS Student Analytics, IR&DS Office.1 This table includes the 20 degrees in which the most undergraduate degrees were awarded in 2016/17.2 In last year’s report, the Computer Science majors count for 2015/16 was 263. This change is due to a systems update that provides more accurate data.3 In previous years, “Biological Sciences” degrees were not reported in the Budget Plan under the “Biology” section. This year’s report counts Biological

Sciences degrees conferred in previous years as Biology degrees. Any discrepancies between prior years’ numbers of Biology majors arises from this name change.


SCHEDULE 11

STUDENTS HOUSED ON CAMPUS1998/99 through 2017/18

PERCENT OF GRADUATE STUDENTS PERCENT OF

UNDERGRADUATES UNDERGRADUATES GRADUATE STUDENTS HOUSED IN OFF-CAMPUS GRADUATE STUDENTS

YEAR HOUSED ON CAMPUS 1 HOUSED ON CAMPUS HOUSED ON CAMPUS SUBSIDIZED APARTMENTS HOUSED BY STANFORD

1998/99 5,917 90% 3,717 250 52.5%

1999/00 5,955 90% 3,408 584 52.4%

2000/01 5,969 91% 3,887 687 59.4%

2001/02 6,199 93% 3,748 932 62.1%

2002/03 6,138 91% 3,828 932 62.6%

2003/04 6,067 91% 4,013 632 59.6%

2004/05 6,046 90% 4,391 553 61.1%

2005/06 6,116 91% 4,218 430 56.8%

2006/07 6,050 90% 4,255 356 56.2%

2007/08 6,087 90% 4,421 130 55.6%

2008/09 6,160 90% 4,319 138 53.5%

2009/10 6,300 92% 4,650 55.1%

2010/11 6,257 91% 4,695 71 54.3%

2011/12 6,302 91% 4,700 68 54.2%

2012/13 6,371 91% 4,776 198 56.1%

2013/14 6,448 92% 4,645 362 56.3%

2014/15 6,503 93% 5,037 440 60.1%

2015/16 6,401 92% 5,001 708 62.1%

2016/17 6,538 93% 4,840 1,125 64.1%

2017/18 6,559 93% 4,847 1,146 64.0%

Source: The Office of Finance and Administration.1 Students who are in overseas programs are not included.


SCHEDULE 12

TOTAL PROFESSORIAL FACULTY1983/84 through 2017/18

TENURE NON-TENURE ASSOCIATE ASSISTANT LINE LINE GRAND PROFESSORS PROFESSORS PROFESSORS 1 TOTAL PROFESSORS TOTAL

1983/84 682 195 286 1,163 129 1,292

1984/85 691 194 272 1,157 135 1,292

1985/86 708 191 261 1,160 135 1,295

1986/87 711 192 262 1,165 150 1,315

1987/88 719 193 274 1,186 149 1,335

1988/89 709 200 268 1,177 147 1,324

1989/90 715 198 265 1,178 146 1,324

1990/91 742 195 278 1,215 161 1,376

1991/922 756 205 263 1,224 182 1,406

1992/93 740 209 245 1,194 214 1,408

1993/94 729 203 241 1,173 225 1,398

1994/95 724 198 252 1,174 256 1,430

1995/96 723 205 241 1,169 287 1,456

1996/97 731 205 239 1,175 313 1,488

1997/98 750 213 231 1,194 341 1,535

1998/99 758 217 237 1,212 383 1,595

1999/00 771 204 255 1,230 411 1,641

2000/01 764 198 268 1,230 440 1,670

2001/02 768 204 274 1,246 455 1,701

2002/03 771 202 259 1,232 481 1,713

2003/04 783 196 269 1,248 498 1,746

2004/05 792 193 280 1,265 514 1,779

2005/06 789 210 263 1,262 511 1,773

2006/07 807 210 261 1,278 529 1,807

2007/08 813 217 261 1,291 538 1,829

2008/09 821 224 267 1,312 564 1,876

2009/10 836 233 270 1,339 571 1,910

2010/11 826 237 261 1,324 579 1,903

2011/12 839 246 265 1,350 584 1,934

2012/13 865 252 281 1,398 597 1,995

2013/14 887 252 290 1,429 614 2,043

2014/15 912 257 306 1,475 643 2,118

2015/16 948 243 314 1,505 648 2,153

2016/17 956 253 305 1,514 666 2,180

2017/18 965 254 305 1,524 695 2,219

Source: IR&DS Office, September 1st figures.1 Assistant Professors “Subject to Ph.D.” are included.2 Beginning in 1991/92, Medical Center Line and Senior Fellows in policy centers and institutes are included in non-tenure line professors.


SCHEDULE 13

DISTRIBUTION OF TENURED, NON-TENURED, AND NON-TENURE LINE PROFESSORIAL FACULTY1

2015/16 through 2017/18 2015/16 2016/17 2017/18 NON- NON- NON- NON- TENURE NON- TENURE NON- TENURE SCHOOL UNIT OR PROGRAM TENURED TENURED LINE TOTAL TENURED TENURED LINE TOTAL TENURED TENURED LINE TOTAL

School of Earth, Energy & Environmental Sciences 39 12 9 60 43 11 4 58 43 12 4 59

Graduate School of Education 43 12 4 59 39 11 9 59 39 11 9 59

School of Engineering 184 55 19 258 188 55 14 257 194 57 10 261

School of Humanities and Sciences 442 122 17 581 442 121 18 581 437 122 19 578

Humanities 176 46 10 232 177 46 11 234 174 51 11 236

Natural Sciences 142 41 3 186 143 38 3 184 145 35 5 185

Social Sciences 124 35 4 163 122 37 4 163 118 36 3 157

School of Law 47 5 10 62 46 8 10 64 46 7 10 63

Other 0 0 16 16 0 0 17 17 0 0 19 19

Subtotal 755 206 75 1,036 758 206 72 1,036 759 209 71 1,039

Graduate School of Business 77 46 0 123 79 44 0 123 80 44 0 124

School of Medicine 293 92 570 955 304 89 591 984 310 89 621 1,020

SLAC 36 0 3 39 34 0 3 37 32 1 3 36

Total 1,161 344 648 2,153 1,175 339 666 2,180 1,181 343 695 2,219

Source: IR&DS Office, September 1st figures.1 Population includes appointments made part-time, “Subject to Ph.D.,” and coterminous with the availability of funds.


SCHEDULE 14

NUMBER OF NON-TEACHING EMPLOYEES1

As of December 15 Each Year 2009 through 2017 2016 TO 2017 CHANGE 2009 2010 2011 2012 2013 2014 2015 2016 2017 AMOUNT PERCENT

Academic Units

Graduate School of Business 343 338 341 373 402 424 456 477 491 14 2.9%

School of Earth, Energy & Environmental Sciences 85 85 98 101 100 107 115 129 127 (2) -1.6%

Graduate School of Education 116 120 156 166 167 186 199 198 202 4 2.0%

School of Engineering 425 432 455 479 495 520 505 468 485 17 3.6%

School of Humanities and Sciences 706 705 705 730 760 764 804 801 756 (45) -5.6%

School of Law 153 154 155 158 162 155 158 159 157 (2) -1.3%

School of Medicine 3,419 3,609 3,725 3,902 3,998 4,248 4,393 4,840 5,053 213 4.4%

Vice Provost & Dean of Research 527 537 569 612 630 642 672 684 716 32 4.7%

University Libraries 537 572 569 582 579 442 400 406 401 (5) -1.2%

SLAC 1,436 1,539 1,572 1,552 1,443 1,402 1,400 1,430 1,464 34 2.4%

Other Academic (Hoover Institution, VPUE, VPGE, VPTL, VPA)2 281 270 290 340 344 368 457 532 632 100 18.8%

Academic Unit Total 8,028 8,361 8,635 8,995 9,080 9,258 9,559 10,124 10,484 360 3.6%

Administrative Units

Business Affairs 872 854 867 912 932 961 962 1,023 1,070 47 4.6%

Land, Buildings & Real Estate 452 452 475 513 531 533 545 537 530 (7) -1.3%

Office of Development 249 251 314 329 352 369 377 386 408 22 5.7%

Offices of the President & Provost 190 191 195 214 212 243 222 247 274 27 10.9%

Student Affairs, Admission & Financial Aid 286 282 320 331 340 350 345 368 373 5 1.4%

Stanford Alumni Association 111 114 107 114 121 123 123 115 121 6 5.2%

Stanford Management Company 61 64 72 70 75 79 64 54 50 (4) -7.4%

Other Administrative (Public Affairs, University Communications, General Counsel and Public Safety) 129 128 125 134 148 154 162 167 159 (8) -4.8%

Administrative Units Total 2,350 2,336 2,475 2,617 2,711 2,812 2,800 2,897 2,985 88 3.0%

Auxiliary Units

Athletics 153 158 175 173 185 205 212 229 245 16 7.0%

Residential & Dining Enterprises 524 556 550 589 623 660 735 742 734 (8) -1.1%

Auxiliary Unit Total 677 714 725 762 808 865 947 971 979 8 0.8%

Total 11,055 11,411 11,835 12,374 12,599 12,935 13,306 13,992 14,448 456 3.3%

Annual Percentage Change -1.9% 3.2% 3.7% 4.6% 1.8% 2.7% 2.9% 5.2% 3.3%

Source: IR&DS Office.1 Includes benefits-eligible employees only. Does not include students, or employees working less than 50% time or hired for less than 6 months. 2 VPTL was established in 2015. VPA was established in 2017.


SCHEDULE 15FR

ING

E B

ENEF

ITS

DET

AIL

120

09/1

0 th

roug

h 20

16/1

7 [I

N T

HO

USA

ND

S O

F D

OLL

ARS

]

FR

INGE

BEN

EFIT

PRO

GRAM

20

09/1

0 20

10/1

1 20

11/1

2 20

12/1

3 20

13/1

4 20

14/1

5 20

15/1

6 20

16/1

7

Reti

rem

ent P

rogr

ams

U

nive

rsity

Ret

irem

ent

99,3

73

104,

407

11

0,75

4

118,

045

12

9,24

6

137,

726

14

6,08

5

156,

726

So

cial

Sec

urity

93

,704

97

,920

10

5,09

4

112,

378

11

9,45

8

125,

968

13

4,53

8

143,

989

Fa

culty

Ear

ly R

etire

men

t 24

,931

1,

301

3,

322

4,

048

3,

749

4,

836

6,

098

8,

064

St

anfo

rd R

etire

men

t

Ann

uity

Pla

n/O

ther

2 46

8

332

10

,613

4,

994

21

9

291

39

1

5,31

4

Tota

l Ret

irem

ent P

rogr

ams

218,

476

20

3,96

0

229,

783

23

9,46

6

252,

672

26

8,82

2

287,

112

31

4,09

4

Insu

ranc

e Pr

ogra

ms

M

edic

al In

sura

nce

101,

060

11

0,01

8

130,

424

13

5,83

4

154,

665

17

7,83

7

185,

068

20

7,51

7

Re

tirem

ent M

edic

al

14,2

45

22,7

10

26,2

84

19,7

48

18,6

64

16,9

86

18,1

20

8,73

0

W

orke

r’s C

omp/

LTD

/

Une

mpl

oym

ent I

nsur

ance

16

,969

15

,740

19

,499

23

,556

27

,529

25

,869

22

,810

22

,165

D

enta

l Ins

uran

ce

12,5

92

12,8

17

13,5

52

13,2

14

12,9

76

12,4

27

12,7

84

12,1

77

G

roup

Life

Insu

ranc

e/O

ther

15

,382

15

,431

20

,829

17

,772

20

,716

22

,355

22

,840

25

,206

Tota

l Ins

uran

ce P

rogr

ams

160,

248

17

6,71

6

210,

588

21

0,12

4

234,

550

25

5,47

5

261,

623

27

5,79

6

Mis

cella

neou

s Pr

ogra

ms

Se

vera

nce

Pay

2,94

8

6,09

6

7,38

7

7,91

0

14,4

61

8,01

8

13,1

62

7,71

9

Sa

bbat

ical

Lea

ve

14,1

87

14,3

60

14,8

10

17,9

15

20,0

52

19,6

22

21,4

12

22,1

97

O

ther

12

,064

12

,489

13

,637

15

,556

17

,294

18

,722

19

,523

19

,778

Tota

l Mis

cella

neou

s Pr

ogra

ms

29,1

99

32,9

45

35,8

34

41,3

81

51,8

07

46,3

61

54,0

97

49,6

94

Tota

l Fri

nge

Bene

fits

Prog

ram

s 40

7,92

3

413,

621

47

6,20

5

490,

971

53

9,02

9

570,

657

60

2,83

2

639,

583

Car

ry-f

orw

ard/

Adj

ustm

ent

from

Prio

r Yea

r(s)

98

5

14,0

96

(4,2

20)

(8,1

60)

(2,6

54)

(2,8

49)

13,2

14

7,47

3

Tota

l Wit

h Ca

rry-

forw

ard/

Adj

ustm

ent

408,

908

42

7,71

7

471,

985

48

2,81

1

536,

375

56

7,80

8

616,

046

64

7,05

6

Wei

ghte

d A

vera

ge F

ringe

Ben

efits

Rat

e 27

.7%

27

.2%

28

.2%

27

.1%

28

.4%

28

.3%

28

.5%

27

.9%

Not

e:1

The

frin

ge ra

te a

t the

bot

tom

of t

he ta

ble

is th

e w

eigh

ted

aver

age

of th

e fo

ur d

istin

ct fr

inge

rate

s th

at a

re c

harg

ed to

(1

) re

gula

r ben

efits

-elig

ible

em

ploy

ees,

whi

ch in

clud

es a

ll fa

culty

and

sta

ff w

ith c

ontin

uing

app

oint

men

ts o

f hal

f-tim

e or

mor

e;

(2)

post

doct

oral

sch

olar

s; (

3) c

asua

l or t

empo

rary

em

ploy

ees;

and

(4)

grad

uate

teac

hing

and

rese

arch

ass

ista

nts.

2 The

Sta

nfor

d Re

tirem

ent A

nnui

ty P

lan

had

a $1

0.5

mill

ion

rese

rve

cont

ribut

ion

in 2

011/

12 d

ue to

und

erfu

nded

pen

sion

obl

igat

ions

.


SCHEDULE 16

SPONSORED RESEARCH EXPENSE BY AGENCY AND FUND SOURCE 1

2010/11 through 2016/17[IN THOUSANDS OF DOLLARS]

2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17

US Government 2

Health & Human Services 446,906 413,713 412,511 409,312 444,746 469,355 492,347

Department of Defense 71,627 84,048 89,598 86,630 83,078 82,956 85,493

National Science Foundation 68,856 67,828 69,846 66,492 67,211 66,794 61,300

Department of Energy (excluding SLAC) 24,338 22,810 24,069 27,041 26,853 26,609 25,936

National Aeronautics and Space Administration 22,471 20,963 22,113 17,905 17,881 18,113 17,645

Other U.S. Sponsors 7,952 8,551 7,699 8,477 10,382 9,534 9,089

Department of Education 4,921 4,872 5,675 5,174 5,075 5,258 4,255

Subtotal for U.S. Government Agencies 647,071 622,784 631,512 621,031 655,227 678,619 696,066

Direct Expense-U.S. 463,313 443,430 450,993 441,726 465,581 482,386 490,572

Indirect Expense-U.S. 3 183,758 179,355 180,519 179,305 189,645 196,233 205,493

Non-U.S. Government

Subtotal for Non-U.S. Government 180,105 186,416 202,620 220,557 243,120 265,970 291,060

Direct Expense-Non-U.S. 146,174 150,566 163,903 179,775 198,407 218,401 239,563

Indirect Expense-Non-U.S. 33,931 35,849 38,717 40,782 44,713 47,569 51,497

Grand Totals-U.S. plus Non-U.S.

Grand Total 827,176 809,200 834,132 841,588 898,346 944,589 987,126

Grand Total Direct 609,487 593,996 614,896 621,501 663,988 700,787 730,136

Grand Total Indirect 217,689 215,204 219,236 220,087 234,358 243,802 256,990

Percent of Total from U.S. Government 78.2% 77.0% 75.7% 73.8% 72.9% 71.8% 70.5%

Source: Office of Research Administration; Sponsored Projects Report for the Year Ended August 31, 2017.1 Figures are only for sponsored research; sponsored instruction and other non-research sponsored activity is not included.

In addition, SLAC expense is not included in this table.2 Agency figures include both direct and indirect expense. 3 Veterinary Service Center indirects are included in this figure.


SCHEDULE 17

SPONSORED RESEARCH CONTRACTS AND GRANTS BY SCHOOL 1

2010/11 through 2016/17[IN THOUSANDS OF DOLLARS]

SCHOOL/UNIT 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17

Graduate School of Business 1,265 1,273 1,402 380 341 383 661

School of Earth, Energy & Environmental Sciences 12,675 14,795 15,060 14,717 15,431 12,841 11,596

Graduate School of Education 15,056 16,974 17,306 18,027 19,902 21,467 21,060

School of Engineering 135,921 144,847 149,235 148,717 143,484 135,975 141,057

School of Humanities and Sciences 77,342 74,436 80,063 72,089 73,890 86,285 89,160

School of Law 389 410 932 300 1,018 651 581

School of Medicine 498,174 475,100 484,162 505,405 563,225 602,615 643,202

Vice Provost & Dean of Research 82,265 77,391 81,367 76,714 74,600 79,269 74,416

Other 2 4,088 3,974 4,422 5,467 6,456 5,102 5,393

Total 827,176 809,200 833,948 841,816 898,346 944,589 987,126

Source: Research Financial Compliance & Services; Sponsored Projects Report for the Year Ended August 31, 2017, page 10.1 Figures are only for sponsored research including both direct and indirect costs; sponsored instruction or other non-research sponsored activity is not included.

In addition, SLAC expense is not included in this table.2 “Other” includes Hoover Institution, Stanford University Libraries, Undergraduate Admissions and Financial Aid, Vice Provost for Student Affairs,

Vice President for the Arts, President and Provost’s Office, Business Affairs, Public Affairs, and Continuing Studies and Summer Session.


SCHEDULE 18

PLANT EXPENDITURES BY UNIT 12009/10 through 2016/17[IN THOUSANDS OF DOLLARS]

SCHOOL/UNIT 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16 2016/17

Graduate School of Business 116,731 295,433 25,577 2,961 1,455 781 54,692 11,651

School of Earth, Energy & Environmental Sciences 2,950 5,117 2,118 730 192 3,384 1,034 2,047

Graduate School of Education 2,955 843 1,423 769

School of Engineering 55,976 19,198 9,968 4,165 170,713 10,637 35,228 13,623

School of Humanities and Sciences 14,419 7,930 7,136 107,202 10,089 75,930 46,120 64,607

School of Law 43,434 50,185 4,168 66 11,774 192 895 15

School of Medicine 104,880 31,731 32,820 76,588 15,317 45,380 67,525 13,607

University Libraries 280 41,676 4,651 2,216 970

Athletics 10,963 16,639 9,116 29,955 49,001 6,286 44,292 7,090

Residential & Dining Enterprises 21,773 14,288 47,750 27,788 134,083 35,046 111,465 41,737

All Other 2 92,761 46,668 49,130 123,850 175,837 377,341 105,569 244,253

TOTAL 467,123 488,032 187,784 374,728 610,138 560,397 469,036 399,599

Source: Schedule G-5, Capital Accounting.1 Expenditures are from either plant or borrowed funds and are for building construction or improvements, or infrastructure. 2 Includes General Plant Improvements expense.


SCHEDULE 19

ENDOWMENT MARKET VALUE AND MERGED POOL RATE OF RETURN 2002/03 through 2016/17 MERGED POOL (FOR 12 MONTHS ENDING JUNE 30)

MARKET VALUE OF THE ENDOWMENT ANNUAL NOMINAL ANNUAL REAL

YEAR (IN THOUSANDS) 1 RATE OF RETURN RATE OF RETURN 2

2002/03 8,613,805 8.8% 7.2%

2003/04 9,922,041 18.0% 15.4%

2004/05 12,205,035 19.5% 17.0%

2005/063 14,084,676 19.5% 16.2%

2006/07 17,164,836 23.4% 20.7%

2007/08 17,214,373 6.2% 4.0%

2008/09 12,619,094 -25.9% -27.1%

2009/10 13,851,115 14.4% 13.4%

2010/11 16,502,606 22.4% 20.0%

2011/12 17,035,804 1.0% -0.7%

2012/13 18,688,868 12.2% 10.8%

2013/14 21,446,006 16.8% 15.2%

2014/15 22,222,957 7.0% 6.0%

2015/16 22,398,130 -0.4% -1.6%

2016/17 24,784,943 13.1% 11.5%

Source: Stanford University Annual Financial Report and Stanford University Investment Report.1 In addition to market value changes generated by investment returns, annual market value changes are affected by the transfer of

payout to support operations, new gifts, and transfers to other assets such as plant funds.2 The real rate of return is the nominal rate less the rate of price increases, as measured by the Gross Domestic Product price deflator.3 Beginning in 2005/06, living trusts are no longer included in the reported value of the endowment. The effect is to lower the market

value for 2005/06 and beyond. For comparison, the restated value for 2005/06 would have been about $14.7 billion.


SCHEDULE 20

EXP

END

AB

LE F

UN

D B

ALA

NC

ES A

T Y

EAR

-EN

D20

08/0

9 th

roug

h 20

18/1

9[I

N M

ILLI

ON

S O

F D

OLL

ARS

]

20

08/0

9 TO

20

18/1

9

PR

OJEC

TED

PLAN

CO

MPO

UND

20

08/0

9 20

09/1

0 20

10/1

1 20

11/1

2 20

12/1

3 20

13/1

4 20

14/1

5 20

15/1

6 20

16/1

7 20

17/1

8 20

18/1

9 GR

OWTH

Aca

dem

ic U

nits

Gra

duat

e Sc

hool

of B

usin

ess

67.0

82

.2

65.7

79

.0

95.0

91

.4

76.1

68

.1

106.

7

108.

7

108.

9

5.0%

Scho

ol o

f Ear

th, E

nerg

y &

En

viro

nmen

tal S

cien

ces”

37

.9

42.3

46

.8

48.2

50

.0

54.2

59

.4

57.9

55

.4

54.9

52

.8

3.4%

Gra

duat

e Sc

hool

of E

duca

tion

32.2

35

.5

38.5

38

.1

37.4

42

.0

45.0

53

.6

54.9

53

.4

51.3

4.

8%

Scho

ol o

f Eng

inee

ring

199.

7

202.

5

219.

5

232.

8

250.

4

261.

7

255.

3

275.

2

295.

6

313.

1

304.

3

4.3%

Scho

ol o

f Hum

aniti

es a

nd S

cien

ces

245.

8

264.

3

284.

3

285.

1

278.

8

255.

3

266.

4

295.

5

276.

3

281.

6

281.

9

1.4%

Scho

ol o

f Law

19

.1

20.1

21

.6

21.9

21

.6

24.1

24

.2

34.7

36

.7

25.2

25

.3

2.9%

Scho

ol o

f Med

icin

e 47

7.4

52

3.1

57

2.5

61

2.9

76

9.4

84

6.7

99

9.2

1,

119.

1

1,23

7.1

1,

357.

7

1,43

8.5

11

.7%

Vic

e Pr

ovos

t and

Dea

n of

Res

earc

h 10

8.2

11

1.2

11

8.6

13

3.3

14

1.4

16

3.6

18

6.2

19

5.2

23

0.1

24

8.7

24

6.7

8.

6%

Vic

e Pr

ovos

t for

U

nder

grad

uate

Edu

catio

n 19

.9

22.0

22

.1

22.8

20

.3

20.2

20

.3

21.5

22

.9

23.1

20

.5

0.3%

Vic

e Pr

ovos

t for

Gra

duat

e Ed

ucat

ion

39.1

45

.1

46.2

49

.8

49.7

56

.3

56.4

54

.8

52.5

49

.5

44.4

1.

3%

Vic

e Pr

ovos

t for

Tea

chin

g an

d Le

arni

ng1

13

.3

15.4

9.

3

11.7

11

.9

12.0

Vic

e Pr

esid

ent f

or th

e A

rts2

28

.0

25.9

22

.0

Hoo

ver

Inst

itutio

n 35

.2

38.7

40

.2

38.6

34

.7

41.5

66

.8

45.9

43

.5

40.2

34

.9

-0.1

%

Uni

vers

ity L

ibra

ries

17.5

21

.6

18.4

14

.6

14.2

7.

0

8.7

12

.1

14.9

18

.3

19.8

1.

3%

Tota

l Aca

dem

ic U

nits

(ex

clud

ing

SLA

C)

1,29

9.0

1,

408.

6

1,49

4.4

1,

577.

1

1,76

2.9

1,

877.

3

2,07

9.2

2,

243.

1

2,46

6.1

2,

612.

2

2,66

3.3

7.

4%

1 V

ice

Prov

ost f

or T

each

ing

and

Lear

ning

was

cre

ated

in 2

012

/13.

Prio

r to

its in

cept

ion,

all

activ

ity w

as c

aptu

red

with

in th

e Pr

esid

ent a

nd P

rovo

st’s

Offi

ce.

2 V

ice

Pres

iden

t for

the

Art

s w

as c

reat

ed in

20

16/1

7. P

rior t

o its

ince

ptio

n, a

ll ac

tivity

was

cap

ture

d w

ithin

the

Scho

ol o

f Hum

aniti

es &

Sci

ence

s.


SCHEDULE 21

ACADEMIC UNIT EXPENDABLE FUND BALANCESBy Level of Control2014/15 through 2016/17[IN MILLIONS OF DOLLARS] COMPOUND ANNUAL 2014/15 2015/16 2016/17 GROWTH

School Earth, Energy & Environmental Sciences 59.4 57.9 55.4 -3.5% School 25.3 25.4 24.5 -1.5% Department/Program 22.3 19.5 17.9 -10.5% Faculty/PI 11.8 12.9 12.9 4.7%

Graduate School of Education 45.0 53.6 54.9 10.4% School 21.6 23.7 23.1 3.5% Department/Program 14.1 19.7 21.0 22.0% Faculty/PI 9.3 10.2 10.8 7.7%

School of Engineering 255.3 275.2 295.6 7.6% School 51.9 64.2 60.5 8.0% Department/Program 97.5 102.3 112.4 7.4% Faculty/PI 105.9 108.7 122.6 7.6%

School of Humanities and Sciences 246.6 273.6 276.3 5.8% School 78.2 88.4 78.8 0.4% Department/Program 89.2 95.6 101.6 6.7% Faculty/PI 79.2 89.6 95.9 10.0%

School of Law 24.2 34.7 36.7 23.2% School 20.3 30.2 32.1 25.7% Department/Program 3.8 4.4 4.6 8.9% Faculty/PI 0.1 105.8%

School of Medicine 999.2 1,119.1 1,237.1 11.3% School 333.8 323.6 338.2 0.7% Department/Program 445.5 508.4 570.3 13.1% Faculty/PI 219.9 287.0 328.7 22.3%

Vice Provost and Dean of Research 186.2 195.2 230.1 11.2% VP/Dean 21.5 16.3 8.6 -36.6% Lab/Center/Institute 144.4 159.2 198.7 17.3% Faculty/PI 20.3 19.7 22.7 5.7%

Graduate School of Business 1 76.1 68.1 106.7 18.4%

Hoover Institution 1 66.8 45.9 43.5 -19.3%

Vice Provost for Graduate Education 1 56.4 54.8 52.5 -3.5%

Vice Provost for Undergraduate Education 1 20.3 21.5 22.9 6.3%

Vice Provost for Teaching and Learning 1 15.4 9.3 11.7 -12.7%

Vice President for the Arts 1 19.8 21.9 28.0 18.9%

University Libraries 1 8.7 12.1 14.9 31.2%

All Academic Units (excluding SLAC)

School/Institution/VP 744.4 738.5 769.1 1.6%

Dept/Prog/Lab/Ctr/Institute 888.0 975.2 1,102.5 11.4%

Faculty/PI 446.8 529.4 594.5 15.3%

Total All Academic Units (excluding SLAC) 2,079.2 2,243.1 2,466.1 8.9%

Source: Fund level of restriction as coded in financial system.1 Fund balances in these units are largely under the control of the Dean/Director/Vice Provost or Program/Department.


SCHEDULE 22

CO

NSO

LID

AT

ED B

UD

GET

FO

R O

PER

AT

ION

S H

IST

OR

Y[I

N M

ILLI

ON

S O

F D

OLL

ARS

]

2011

/12

TO 2

018/

19

2011

/12

2012

/13

2013

/14

2014

/15

2015

/16

2016

/17

2017

/18

2018

/19

COM

POUN

D

ACTU

ALS

ACT

UALS

AC

TUAL

S AC

TUAL

S AC

TUAL

S AC

TUAL

S PR

OJEC

TION

PL

AN

ANNU

AL G

ROW

TH

Reve

nues

Und

ergr

adua

te P

rogr

ams

29

8.1

3

11.0

3

17.4

3

30.9

3

42.3

3

56.9

3

70.4

3

84.4

3.

7%

G

radu

ate

Prog

ram

s

287.

2

297

.0

313

.8

329

.0

340

.5

361

.2

378

.3

393

.0

4.6%

Roo

m a

nd B

oard

13

5.9

1

44.8

1

51.3

1

64.3

1

74.1

1

86.6

1

95.7

2

04.7

6.

0%

Stu

dent

Inco

me

7

21.2

7

52.9

7

82.5

8

24.2

8

57.0

9

04.7

9

44.5

9

82.1

4.

5%

Dire

ct C

osts

- U

nive

rsity

63

9.3

6

56.8

6

69.7

7

16.7

7

53.6

7

86.9

8

25.3

8

44.7

4.

1%

In

dire

ct C

osts

22

6.4

2

25.5

2

27.7

2

42.6

2

51.4

2

64.6

2

72.7

2

79.9

3.

1%

Uni

vers

ity S

pons

ored

Res

earc

h

865

.7

882

.3

897

.3

959

.2

1,0

05.0

1

,051

.5

1,0

98.0

1

,124

.6

3.8%

S

LAC

Spo

nsor

ed R

esea

rch

3

68.0

3

50.9

3

69.3

4

30.4

4

47.8

5

84.6

5

72.5

5

10.0

4.

8%

H

ealth

Car

e Se

rvic

es

600

.5

714

.8

778

.2

957

.9

1,0

33.9

1

,126

.5

1,2

20.0

1

,311

.0

11.8

%

G

ifts

In S

uppo

rt o

f Ope

ratio

ns

177.

8

180

.7

211

.8

233

.3

250

.8

324

.3

250

.0

250

.0

5.0%

N

et A

sset

s Re

leas

ed F

rom

Res

tric

tions

1

10.0

1

77.7

1

30.2

1

56.9

1

40.3

1

59.0

1

74.9

1

74.9

6.

8%

In

vest

men

t Inc

ome

End

owm

ent I

ncom

e

861.

7

921

.7

984

.7

1,0

65.5

1

,147

.5

1,1

74.8

1

,236

.8

1,3

19.9

6.

3%

O

ther

Inve

stm

ent I

ncom

e

160.

6

118

.3

232

.1

222

.6

258

.0

176

.2

276

.6

292

.5

8.9%

In

vest

men

t Inc

ome

1

,022

.3

1,0

40.0

1

,216

.8

1,2

88.1

1

,405

.6

1,3

51.0

1

,513

.3

1,6

12.4

6.

7%

S

peci

al P

rogr

am F

ees

and

Oth

er In

com

e

437

.0

473

.6

507

.1

516

.0

540

.0

531

.3

545

.7

559

.8

3.6%

Tota

l Rev

enue

s

4,3

02.5

4

,572

.9

4,8

93.5

5

,366

.0

5,6

80.4

6

,032

.8

6,3

18.9

6

,524

.7

6.1%

Exp

ense

s

Com

pens

atio

n

2,36

4.1

2

,516

.5

2,6

65.3

2

,881

.5

3,1

22.8

3

,368

.0

3,5

93.8

3

,853

.6

7.2%

F

inan

cial

Aid

2

40.6

2

42.5

2

48.8

2

60.5

2

69.5

2

86.7

3

05.5

3

21.1

4.

2%

Inte

rnal

Deb

t Ser

vice

14

1.8

1

61.8

1

72.7

1

98.6

1

85.2

1

98.9

1

96.9

2

22.0

6.

6%

Oth

er O

pera

ting

Expe

nse

1

,204

.6

1,2

38.8

1

,381

.6

1,5

25.0

1

,541

.0

1,7

61.7

1

,827

.4

1,8

16.5

6.

0%

Tota

l Exp

ense

s

3,9

51.2

4

,159

.6

4,4

68.3

4

,865

.6

5,1

18.5

5

,615

.3

5,9

23.6

6

,213

.3

6.7%

Ope

rati

ng R

esul

ts

351

.3

413

.2

425

.1

500

.4

561

.9

417

.5

395

.3

311

.4

-1.7

%

Tran

sfer

s

Tra

nsfe

rs fr

om (

to)

Endo

wm

ent P

rinci

pal

(88

.6)

(11

7.4)

(

112.

5)

(11

0.7)

(

125.

6)

(90

.4)

(77

.0)

(45

.0)

T

rans

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(

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208.

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117.

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O

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34.

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33.

9

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Tota

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(

229.

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(30

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(

241.

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274.

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(19

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140.

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Chan

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101.

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183

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3

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6.3%



Design & Production: Pat Brito, Design & Print Services

Cover Photo: Stanford News Service, Photo Library.

Printed on recycled paper, using soy ink and

chemical free processing.

Approved:This Budget Plan was approved by the Stanford University Board of Trustees June 13–14, 2018.

This publication can be found at: https://budget.stanford.edu/budget-plans

STAN

FOR

D U

NIV

ERSIT

Y BU

DG

ET PLA

N 2

01

8/1

9

s ta n f o r d u n i v e r s i t y

B ud g e t Pl an2018 / 19

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