The University of Mississippi (colloquially known as Ole Miss) is a public research university in Oxford, Mississippi. Including the University of Mississippi Medical Center in Jackson, it is the state's largest university by enrollment and is the state’s flagship university. The university was chartered by the Mississippi Legislature on February 24, 1844, and four years later admitted its first enrollment of 80 students. The university is classified as an "R1: Doctoral University—Very High Research Activity" by the Carnegie Classification of Institutions of Higher Education and has an annual research and development budget of $121. 6 million.