USF campus costs New College $4.5 million per year
According to public records obtained by the Novo Collegian Alliance from USF, New College of Florida will incur an estimated $4.5 million per year in costs to operate the USF Sarasota-Manatee campus.
The monthly cost of $376,257.18, seen below in the monthly budget quote from USF to New College, amounts to over $4.5 million per year.
This figure does not include the debt payments, which are estimated at between $2 million and $3 million per year, which together with the operating costs might add more than $6.5 million per year to New College’s costs.
The operating cost estimates come from the “Fully Executed Joint Transfer Agreement - USF 1.pdf” document received by public records requests, and is the first estimate we have seen of the cost to operate the USF-SM campus.
These are the three documents received from the public records request, with highlights below:
