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The charts below detail the income and spending patterns of MSM in FY16. MSM continues its strategy to increase class size in all programs, resulting in a positive impact on annual revenues. The State
grant of $35M highlighted the increase in Federal, State, and local government revenues. In support of our strategic plan, we continue to develop new and strengthen existing hospital partnerships, this
accounts for approximately 20% of revenues. For expenditures, salary and wages are 64% ($98.2M) of the total, while other operating expenditures total $55.0M. Our goal over the next 5 years is to review
all people, process, and technology for increased efficiencies, which will enable the organization to invest in the mission areas – education, research and clinical services.
In FY17, we will invest in technology solutions that enhance the financial operations in all aspects of our business. We are implementing travel and purchasing technology to create efficiencies and savings
in those areas. Our investment of approximately $7.0M in Phase I of the Academic Expansion facilities will be complete and the pavilion will open in Spring 2017. MSM will then begin its next major facility
investment of over $25M in the renovation of the oldest campus building, the Hugh M. Gloster Building. The Pavilion and the Gloster renovation will enhance the educational experience for our students
and will bring enhanced functionality to the classroom and open student activity space.
Our commitment to operational excellence will help MSM strive for sound financial policy and practices to produce results that will benefit the faculty, staff, students and patients of MSM.

Morehouse School of Medicine | Annual Report | 2016 35