<p>Cornell has a superb department in engineering, across many different disciplines, and funding is a very good measure of that. However, I would measure research funding in terms of “per undergraduate science major”, not just overall. I think if you broke down funding in terms of $$$ per undergraduate engineering major, you would find smaller institutions like Caltech and Yale at the top.</p>
<p>Yes, Yale also was ranked #1 in chemistry (or #2, after Harvard) in various 2005-2007 rankings such as those at ISI-Sciencewatch, COHE, etc. The department is extremely strong and just got a brand-new building, and several of its recent PhD graduates have been snapped up for faculty positions at Caltech right away, for example. Berkeley also obviously has an exceptionally strong department in chemistry.</p>