Medical Center Growth Drives 4.2 Percent Increase in U.Va. Budget

VIRGINIA - The University of Virginia (U.Va) Board of Visitors Finance Committee announced in a press release that it approved a $2.6 billion operating budget for fiscal year 2012-13, covering the Academic Division, U.Va. Medical Center and the College at Wise.

The budget will grow 4.2 percent compared with the current fiscal year, attributable almost solely to projected growth in the Medical Center's inpatient and outpatient activity. Overall, patient revenues provide the largest source of University revenues. Some 45 percent of the overall operating budget, or $1.21 billion, is revenue from patient care.

Employment for all three divisions is projected to be equivalent to 15,918 full-time positions. This increase of 288 positions, or less than 2 percent, is again driven primarily by growth at the Medical Center to provide care for increasing numbers of patients.

The budget will take effect July 1, the start of U.Va.'s next fiscal year.