financial briefing
DESCRIPTION
SSU BUDGET 101. 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. SSU BUDGET 101. SSU BUDGET 101. - PowerPoint PPT PresentationTRANSCRIPT
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Financial Briefing
Sonoma State University
November 21, 2013
Presented by
Laurence Furukawa-Schlereth
CFO and Vice President for Administration and Finance, Sonoma State University
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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%
Auxiliary Corporations
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 Foundation Asset Management: $43,988,698
$ 187,000 0.1%
TOTAL $194,851,790 100%
Composition of the SSU Budget2012-2013
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Composition of the SSU Budget 2012-2013
General Fund $ 88,722,159 45.5%
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• The General Fund represents the largest source of revenue available to the campus and includes:
– Resources from Tax Appropriation $ 44,186,283
– Funds generated from student and other fees $ 44,064,500– Discretionary dollars from the California Lottery $ 471,376
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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
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Composition of the SSU Budget 2012-2013
• 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).
Grants and Contracts $ 9,140,000 4.7%
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Composition of the SSU Budget 2012-2013
• Resources are restricted to the SSU Housing Program.
• The campus is reimbursed for overhead costs.
Housing $ 25,217,590 12.8%
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Composition of the SSU Budget 2012-2013
• The campus is reimbursed for overhead costs.
• Net income over expense is used to further support the ongoing activities of Extended Education.
Extended Education $ 6,177,735 3.2%
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Composition of the SSU Budget 2012-2013
• Resources are restricted to the SSU Parking and Transportation program.
• The campus is reimbursed for all overhead costs.
Parking $ 2,137,444 1.1%
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Composition of the SSU Budget 2012-2013
• Resources are generated via a mandatory student fee for the Instructionally Related Activities (IRA) program.
• Budget recommendations are developed by the Fee Advisory Committee.
Instructionally Related Activities $ 3,464,794 1.8%
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Composition of the SSU Budget 2012-2013
• Both the Health Center and CAPS are funded by mandatory student fees.
• The campus is reimbursed for overhead costs.
Health Center & CAPS $ 2,870,266 1.5%
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Composition of the SSU Budget 2012-2013
• The Associated Students budget is developed by its Board of Directors.
• The campus is reimbursed for overhead costs.
Associated Students Inc. $ 2,169,729 1.1%
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Composition of the SSU Budget 2012-2013
• 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
Student Union Corporation $ 3,897,330 2.0%
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Composition of the SSU Budget 2012-2013
• SSE’s budget is developed by its Board of Directors.
• The campus is fully reimbursed for all overhead costs.
Sonoma State Enterprises $ 11,217,222 5.8%
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Composition of the SSU Budget 2012-2013
Foundation $ 187,000 0.1%
Foundation General Fund $ 187,000
Foundation Total Assets $ 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.
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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
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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%
Auxiliary Corporations
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 Foundation Asset Management: $43,988,698
$ 187,000 0.1%
TOTAL $194,851,790 100%
Composition of the SSU Budget2012-2013
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