Transcript SSU Budget Primer

Financial Briefing
Presented by
Laurence Furukawa-Schlereth
CFO and Vice President for Administration and Finance,
Sonoma State University
Sonoma State University
November 21, 2013
Composition of the SSU Budget
2012-2013
General Fund
$ 88,722,159
45.5%
Capital Budget
$ 39,614,521
20.3%
Grants and Contracts
$
9,140,000
4.7%
Housing
$ 25,217,590
12.8%
Extended Education
$
6,177,735
3.2%
Parking
$
2,173,444
1.1%
Instructionally Related Activities
$
3,464,794
1.8%
Health Center & CAPS
$
2,870,266
1.5%
Associated Students
$
2,169,729
1.1%
Student Union
$
3,897,330
2.0%
Sonoma State Enterprises
$ 11,217,222
5.8%
Foundation General Fund
$
187,000
0.1%
$194,851,790
100%
Auxiliary Corporations
Foundation Asset Management: $43,988,698
TOTAL
Composition of the SSU Budget
2012-2013
General Fund
$ 88,722,159
45.5%
• The General Fund represents the largest source of revenue
available to the campus and includes:
– Resources from Tax Appropriation
– Funds generated from student and other fees
– Discretionary dollars from the California Lottery
$ 44,186,283
$ 44,064,500
$
471,376
Composition of the SSU Budget
2012-2013
Capital Budget
$ 39,614,521
20.3%
• Revenues are obtained through both the sale of tax exempt
bonds by the State of California, private donations, and auxiliary
corporations.
• Bond covenants restrict capital dollars to the specific construction
project for which the bond was issued.
• The campus is reimbursed for overhead costs.
• The 2012-2013 capital budget included these projects:
– Student Center, Mechanical/Lighting Renewal, Design for
Commons/Pavilion
Composition of the SSU Budget
2012-2013
Grants and Contracts
$ 9,140,000
4.7%
• SSU divides grants and contracts activity into three areas:
– Grants related to the Anthropological Studies Center with an overall
grants volume of $1,420,000.
– Grants directly related to the research program of the campus faculty
with an overall grants volume of $4,675,000.
– Grants related to student outreach and public service with an overall
grants volume of $3,045,000.
• Resources are restricted to the specific grant or contract.
• The campus is reimbursed for overhead costs via Indirect
Cost Recovery (IDC).
Composition of the SSU Budget
2012-2013
Housing
$ 25,217,590
12.8%
• Resources are restricted to the SSU Housing Program.
• The campus is reimbursed for overhead costs.
Composition of the SSU Budget
2012-2013
Extended Education
$ 6,177,735
3.2%
• The campus is reimbursed for overhead costs.
• Net income over expense is used to further support the
ongoing activities of Extended Education.
Composition of the SSU Budget
2012-2013
Parking
$ 2,137,444
• Resources are restricted to the SSU Parking and
Transportation program.
• The campus is reimbursed for all overhead costs.
1.1%
Composition of the SSU Budget
2012-2013
Instructionally Related Activities
$ 3,464,794 1.8%
• Resources are generated via a mandatory student fee for
the Instructionally Related Activities (IRA) program.
• Budget recommendations are developed by the Fee
Advisory Committee.
Composition of the SSU Budget
2012-2013
Health Center & CAPS
$ 2,870,266 1.5%
• Both the Health Center and CAPS are funded by mandatory
student fees.
• The campus is reimbursed for overhead costs.
Composition of the SSU Budget
2012-2013
Associated Students Inc.
$ 2,169,729
1.1%
• The Associated Students budget is developed by its Board
of Directors.
• The campus is reimbursed for overhead costs.
Composition of the SSU Budget
2012-2013
Student Union Corporation
$ 3,897,330
2.0%
• The Student Union budget is developed by its Board of
Directors.
• The campus is reimbursed for overhead costs.
*The Student Union Program is a separate entity from the Student Union Corporation
Composition of the SSU Budget
2012-2013
Sonoma State Enterprises
$ 11,217,222
5.8%
• SSE’s budget is developed by its Board of Directors.
• The campus is fully reimbursed for all overhead costs.
Composition of the SSU Budget
2012-2013
Foundation
Foundation General Fund
Foundation Total Assets
$
187,000
0.1%
$
187,000
$ 43,988,698
• Resources are obtained from private gifts and earned
interest.
• Budget recommendations are made in accordance with
donor intent.
• Administration and Finance operates the Foundation without
reimbursement in recognition of the contributions made by
the Foundation to the SSU academic program.
Audit Activity
•
•
•
•
•
•
•
SSU Academic Foundation
Associated Students
Sonoma State Enterprises
Sonoma Student Union
A-133 (Financial Aid, Grants & Contracts, Federal Funds)
FISMA - every 2 years
Auxiliary Audit – every 3 years
Composition of the SSU Budget
2012-2013
General Fund
$ 88,722,159
45.5%
Capital Budget
$ 39,614,521
20.3%
Grants and Contracts
$
9,140,000
4.7%
Housing
$ 25,217,590
12.8%
Extended Education
$
6,177,735
3.2%
Parking
$
2,173,444
1.1%
Instructionally Related Activities
$
3,464,794
1.8%
Health Center & CAPS
$
2,870,266
1.5%
Associated Students
$
2,169,729
1.1%
Student Union
$
3,897,330
2.0%
Sonoma State Enterprises
$ 11,217,222
5.8%
Foundation General Fund
$
187,000
0.1%
$194,851,790
100%
Auxiliary Corporations
Foundation Asset Management: $43,988,698
TOTAL