Central Michigan University is in the top three of Michigan’s 13 public universities in unrestricted funds.
Central Michigan Life reported last September that the funds, deemed “unrestricted net assets,” grew by nearly $48 million from 2010 to 2011. Central Michigan University’s current balance in unrestricted funds stands at just more than $275 million.
The funds include those used for operational activities that are not yet restricted, funds designated by the governing board for specific purposes and funds committed to goods and services not yet received.
According to a recent report by the Detroit Free Press, Central Michigan University is behind the University of Michigan and Michigan State University in unrestricted assets.
The University of Michigan holds $2.6 billion in unrestricted assets, more than the rest of the public universities combined. U-M’s funds increased by nearly 42 percent in 2011, leading among schools for growth as well.
CMU gained nearly 21 percent in unrestricted assets from 2010 to 2011, placing it sixth for growth in unrestricted funds.