BSD met its financial targets for the fiscal year ending June 30, 2003. Preliminary results indicate that:

* Sponsored direct cost spending increased to a total of $147M. While the increase over the prior year was modest (3%), new grants completely offset the loss of a $20 million contract transferred to UCSF. Federal grants accounted for 76% of total direct spending.

* Net Patient revenue was $150M | an increase of 10% over the prior year. Within this total, specialty outpatient ("PDP") revenue increased by over 30% and UCPG revenue increased by 5%. Improved collection rates were a major factor behind both increases. Capital spending was $47M in 2002-03. Larger projects included:
    * Interdivisional Research Building
    * Renovation of Cummings 7 and 9
    * Interflooring of A6-A7 to create new space for the Medicine residency program and other functions.
    * First phase of office renovations for OB/Gyne