The University of Pittsburgh finance and budget committee voted to recommend the university’s fiscal year 2026 operating budget and capital plan to the full Board of Trustees, endorsing a $3.2 billion operating budget and a $267 million capital budget and approving proposed tuition increases.

The recommendation advances the university’s budget-setting process ahead of a full board review; the proposal includes tuition increases, targeted salary adjustments and expanded student aid while emphasizing maintenance of campus infrastructure.

Dwayne Pinkney, executive senior vice chancellor for administration and finance and chief financial officer, presented the proposal and said, “In the wake of much uncertainty, this budget demonstrates our dedication to academic excellence, research leadership, fiscal responsibility, and community support.” He said the proposal frames Pitt’s priorities while allowing flexibility in a “dynamic environment.”

Under the proposal, the operating budget totals $3,200,000,000. The university projects a research base of $1,200,000,000 for FY2026 and a capital budget of $267,000,000 focused largely on preserving campus infrastructure and completing projects already under way. Tuition changes proposed for the 2025–26 academic year include a 2% increase for in-state undergraduate and graduate students, a 4% increase for out-of-state undergraduate and graduate students, and a 1% increase at regional campuses.

Pinkney said the proposed budget includes nearly $315,000,000 in financial aid — an amount he said has grown nearly 30% since 2020 — and that more than half of all students receive some form of aid. He also said that nearly half of Pitt students can graduate debt free as a result of discounts and aid available to Pennsylvania students.

The proposal calls for an average 6.7% increase in housing rates and a 4% increase in meal plans on the Pittsburgh campus; mandatory fees for transportation, wellness and technology are also expected to rise. The budget recommends a 2.5% salary increase for unionized and nonunionized faculty and staff.

Committee members asked about peer comparisons, enrollment and regional campuses. Pinkney said tuition and fee increases are “in line with our peers” and that demand for admission remains strong: the university is expecting a record first-year class this fall and projects roughly 60% of that class will be Pennsylvania residents. He said graduate enrollment has returned to pre-COVID levels and is expected to be stable for the coming year. On regional campuses, Pinkney said enrollments have stabilized and that a modest 1% price increase reflects the campuses’ competitive position.

The committee voted to approve the resolution recommending the FY2026 operating and capital budgets and to present the resolution to the full Board of Trustees for review and action. The committee also approved the minutes of the committee’s July 12, 2024, public meeting.

No additional business was raised and the committee adjourned.