Indiana University generates record amount of funds

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BLOOMINGTON, Ind. (AP) — Indiana University has brought in more money during the previous fiscal year than ever before — nearly $944 million.

The Herald-Times reports that the money accounts for research funding and private philanthropy dollars. This year’s amount is an increase from nearly $767 million in fiscal year 2015.

The largest chunk of that total is from about $614 million in external funding for research and other activities, a 14-percent increase from the previous fiscal year.

The university’s vice president for research, Fred Cate, says the higher numbers are especially good news for Indiana residents because the university is bringing in federal dollars.

University President Michael McRobbie says the school’s research funding total is more than all other public universities in the state. He didn’t know how the university’s total compared with other Big Ten institutions.

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