from the Vice President and Chief Financial Officer

I AM PLEASED TO PRESENT the University of Florida’s Annual Financial Report for the fiscal year ending on June 30, 2020. It would not be possible to discuss 2020 without first addressing the impact of COVID-19. While the pandemic abruptly altered university operations beginning in March, we were able to adapt successfully and continue our forward momentum in the face of unforeseen circumstances, thanks largely to the ongoing efforts of our students, faculty and staff. Despite significant challenges, the University of Florida continued its forward momentum and maintained its stable financial position.

Throughout the 2020 fiscal year, the University continued making strategic investments in its physical capital and its people, which have been critical to advancing UF’s enhanced national stature.

  • Along with our continued commitment to enhancing UF’s world-class teaching and research through the University’s ongoing initiative to appoint 500 faculty, we launched an additional effort to recruit 100 faculty who specialize in artificial intelligence and data science. These appointments will be multi-disciplinary in nature, advancing our vision to create “AI Across the Curriculum” so that all students, no matter the major, can add these critical skills into their academic portfolios. Scheduled to be operational in 2021, the most powerful AI supercomputer in higher education will benefit students, faculty, students and industry throughout Florida and beyond.
  • The University benefited from continued support from Governor Ron DeSantis, the Florida Legislature, and State University System Board of Governors which has enabled us to advance student and faculty success and invest in facilities.
  • A record number of students totaling over 56,000 enrolled at the University in 2019-20, and in the spring, they quickly pivoted from face-to-face to online learning.
  • UF was awarded over $30 million in federal CARES Act funding during the fiscal year to fund institutional costs and student support during the pandemic. Coupled with additional campus aid, UF provided in excess of $18 million to our students.
  • The Go Greater fundraising campaign received gifts and commitments totaling over $523 million and is scheduled to reach its $3 billion goal well ahead of schedule. The generosity of donors and alumni, especially in the face of economic uncertainty, is allowing UF to maintain and increase investments in our future.
  • As a land grant university, UF advances agricultural research and education not only in Gainesville, but also through extension offices in each of Florida’s 67 counties.
  • The University continued investing in physical infrastructure, spanning new construction and renovation of existing facilities. Some notable projects during the year included construction of the Herbert Wertheim Laboratory for Engineering Excellence, renovations to the Nuclear Science Building, a new baseball stadium, and facilities for both the Institute of Black Culture and Institute of Hispanic - Latino Cultures.

As you read the following report concerning the financial activities at the University of Florida during fiscal year 2020, recognize that these results were achieved during unprecedented challenges and with the commitment of the entire UF community.


Christopher J. Cowen
Senior Vice President and Chief Financial Officer