Overview Finance 2015-16 Finance Overview Purpose The purpose of the IPEDS Finance component is to collect basic financial information from items associated with the institution's General Purpose Financial Statements. There are a few new changes to the 2015-16 Finance data collection. A new FAQ clarifying how to report VA education benefits has been added for all institutions. For GASB institutions, a new pension screen (Part M) has been added to accommodate the implementation of GASB Statement 68. Please review the new screen and survey materials carefully. Additionally, instructions for parts J,K,L have been slightly modified and FAQs have been added for clarity. Resources: To download the survey materials for this component: Survey Materials To access your prior year data submission for this component: Reported Data If you have questions about completing this survey, please contact the IPEDS Help Desk at 1-877-225-2568.
Finance - Public institutions Reporting Standard Please indicate which reporting standards are used to prepare your financial statements: GASB (Governmental Accounting Standards Board), using standards of GASB 34 & 35 FASB (Financial Accounting Standards Board) Please consult your business officer for the correct response before saving this screen. Your response to this question will determine the forms you will receive for reporting finance data.
Finance - Public institutions General Information GASB-Reporting Institutions (aligned form) To the extent possible, the finance data requested in this report should be provided from your institution's audited General Purpose Financial Statements (GPFS). Please refer to the instructions specific to each screen of the survey for details and references. 1. Fiscal Year Calendar This report covers financial activities for the 12-month fiscal year: (The fiscal year reported should be the most recent fiscal year ending before October 1, 2015.) Beginning: month/year (MMYYYY) Month: 7 Year: 2014 And ending: month/year (MMYYYY) Month: 6 Year: 2015 2. Audit Opinion Did your institution receive an unqualified opinion on its General Purpose Financial Statements from your auditor for the fiscal year noted above? (If your institution is audited only in combination with another entity, answer this question based on the audit of that entity.) Unqualified Qualified (Explain in box below) Don't know (Explain in box below) 3. Reporting Model GASB Statement No. 34 offers three alternative reporting models for special-purpose governments like colleges and universities. Which model is used by your institution? Business Type Activities Governmental Activities Governmental Activities with Business-Type Activities 4. Intercollegiate Athletics If your institution participates in intercollegiate athletics, are the expenses accounted for as auxiliary enterprises or treated as student services? Auxiliary enterprises Student services Does not participate in intercollegiate athletics Other (specify in box below) 5. Endowment Assets Does this institution or any of its foundations or other affiliated organizations own endowment assets? No Yes - (report endowment assets) 6. Pension Did your institution recognize additional (or decreased) pension expense, additional liability (or assets), or additional deferral related to the implementation of GASB Statement 68 for one or more defined benefit pension plans (either as a single employer, agent employer or cost-sharing multiple employer) in Fiscal Year 2015? No Yes - (report additional (unfunded) pension information)
Part A - Statement of Financial Position If your institution is a parent institution then the amounts reported in Parts A and D should include ALL of your child institutions Line no. Current year amount Prior year amount Current Assets 01 Total current assets 27,427,937 29,981,229 Noncurrent Assets 31 Depreciable capital assets, net of depreciation 25,182,711 28,986,194 04 Other noncurrent assets 176,033,366 152,648,013 CV=[A05-A31] 05 Total noncurrent assets 201,216,077 181,634,207 06 Total assets CV=(A01+A05) 228,644,014 211,615,436 Current Liabilities 07 Long-term debt, current portion 13,892,928 8,726,156 08 Other current liabilities 26,664,242 24,214,045 CV=(A09-A07) 09 Total current liabilities 40,557,170 32,940,201 Noncurrent Liabilities 10 Long-term debt 116,917,675 103,636,337 11 Other noncurrent liabilities 4,110,774 4,463,783 CV=(A12-A10) 12 Total noncurrent liabilities 121,028,449 108,100,120 13 Total liabilities CV=(A09+A12) 161,585,619 141,040,321 Net Assets 14 Invested in capital assets, net of related debt 67,248,646 66,255,735 15 Restricted-expendable 813,462 1,768,123 16 Restricted-nonexpendable 64,128 63,128 17 Unrestricted -1,067,841 2,488,129 CV=[A18-(A14+A15+A16)] 18 Total net assets CV=(A06-A13) 67,058,395 70,575,115
Part A - Statement of Financial Position (Page 2) Line No. Description Ending balance Prior year Ending balance Capital Assets 21 Land and land improvements 12,684,324 12,684,324 22 Infrastructure 2,230,537 2,230,537 23 Buildings 82,304,751 83,686,558 32 Equipment, including art and library collections 15,045,814 14,833,256 27 Construction in progress 164,760,088 141,331,819 Total for Plant, Property and Equipment 277,025,514 254,766,494 CV = (A21+.. A27) 28 Accumulated depreciation 78,875,278 76,241,044 33 Intangible assets, net of accumulated amortization 155,080 155,080 34 Other capital assets 0 0
Part E - Scholarships and Fellowships DO NOT REPORT FEDERAL DIRECT STUDENT LOANS (FDSL) ANYWHERE IN THIS SECTION Line No. Scholarships and Fellowships Current year amount Prior year amount 01 Pell grants (federal) 37,091,020 34,365,168 02 Other federal grants (Do NOT include FDSL amounts) 344,629 414,293 03 Grants by state government 17,047,089 10,969,265 04 Grants by local government 407,515 296,894 05 Institutional grants from restricted resources 477,291 550,644 06 Institutional grants from unrestricted resources 1,495,049 1,657,307 CV=[E07-(E01+...+E05)] 07 Total gross scholarships and fellowships 56,862,593 48,253,571 Discounts and Allowances 08 Discounts and allowances applied to tuition and fees 38,376,498 33,553,046 09 Discounts and allowances applied to sales and services of 0 auxiliary enterprises 10 Total discounts and allowances CV=(E08+E09) 38,376,498 33,553,046 11 Net scholarships and fellowships expenses after deducting discounts and allowances CV= (E07-E10) This amount will be carried forward to C10 of the expense section. 18,486,095 14,700,525
Part B - Revenues by Source Report in whole dollars only Line No. Source of Funds Current year amount Prior year amount Operating Revenues 01 Tuition and fees, after deducting discounts and allowances 6,205,033 9,853,327 Grants and contracts - operating 02 Federal operating grants and contracts 2,222,678 3,745,820 03 State operating grants and contracts 22,601,201 17,235,784 04 Local government/private operating grants and contracts 3,459,186 3,177,077 04a Local government operating grants and contracts 1,970,020 1,789,642 04b Private operating grants and contracts 1,489,166 1,387,435 05 Sales and services of auxiliary enterprises, 0 0 after deducting discounts and allowances 26 Sales and services of educational activities 0 0 08 Other sources - operating (CV) 84,855 103,266 CV=[B09-(B01+...+B26)] 09 Total operating revenues 34,572,953 34,115,274
Part B - Revenues by Source Line No. Source of funds Current year amount Prior year amount Nonoperating Revenues 10 Federal appropriations 0 0 11 State appropriations 25,315,721 25,921,458 12 Local appropriations, education district taxes, and similar support 38,466,631 39,109,316 Grants-nonoperating 13 Federal nonoperating grants Do NOT include Federal Direct Student Loans 37,091,020 34,365,168 14 State nonoperating grants 0 0 15 Local government nonoperating grants 0 0 16 Gifts, including contributions from affiliated organizations 897 19,007 17 Investment income 10,375 10,758 18 Other nonoperating revenues 1 0 CV=[B19-(B10+...+B17)] 19 Total nonoperating revenues 100,884,645 99,425,707 27 Total operating and nonoperating revenues CV=[B19+B09] 135,457,598 133,540,981 28 12-month Student FTE from E12 8,333 8,186 29 Total operating and nonoperating revenues per student FTE CV=[B27/B28] 16,256 16,313
Part B - Revenues by Source Line No. Source of funds Current year amount Prior year amount Other Revenues and Additions 20 Capital appropriations 28,205,369 23,261,169 21 Capital grants and gifts 0 0 22 Additions to permanent endowments 1,000 0 23 Other revenues and additions 0 0 CV=[B24-(B20+...+B22)] 24 Total other revenues and additions 28,206,369 23,261,169 25 Total all revenues and other additions CV=[B09+B19+B24] 163,663,967 156,802,150
Part C - Expenses by Functional and Natural Classification Report Total Operating AND Nonoperating Expenses in this section Expense Natural Classifications LineExpense Functional No. Classifications 1 2 3 4 5 6 7 8 Total Salaries Employee Operation Depreciation Interest All PY Total amount and wages fringe and other Amount benefits maintenance of plant 01 Instruction 81,650,267 43,221,566 17,300,711 13,745,925 2,016,274 4,044,445 1,321,346 65,136,660 02 Research 109,898 30,735 0 8,755 1,284 2,576 66,548 425,996 03 Public service 2,556,693 1,469,694 604,709 234,206 34,354 68,910 144,820 1,610,441 05 Academic support 12,081,764 3,172,726 1,250,701 4,725,709 693,175 1,390,439 849,014 11,840,668 06 Student services 15,832,289 8,474,262 3,203,713 1,453,391 213,186 427,629 2,060,108 15,045,113 07 Institutional support 25,594,442 14,931,190 5,575,008 882,103 129,388 259,540 3,817,213 32,946,175 08 Operation and 0 7,524,788 3,096,086-21,888,416 0 0 11,267,542 0 maintenance of plant (see instructions) 10 Scholarships and fellowships expenses, excluding discounts and allowances (from E11) 18,486,095 18,486,095 14,700,525 11 Auxiliary enterprises 1,207,953 0 0 838,326 122,967 246,660 0 503,894 14 Other expenses and deductions CV=[C19-(C01+...+C13)] 9,661,285 0 0 1 0 1 9,661,283 7,878,052 19 Total expenses and 167,180,686 78,824,961 31,030,928 0 3,210,628 47,673,969 150,087,524 deductions 6,440,200 Prior year amount 150,087,524 74,630,990 29,870,379 2,895,418 2,413,852 40,276,885 20 12-month Student FTE from E12 8,333 8,186 21 Total expenses and deductions per student FTE CV=[C19/C20] 20,062 18,335
Part D - Summary of Changes In Net Position Line No. Description Current year amount Prior year amount 01 Total revenues and other additions (from B25) 163,663,967 156,802,150 02 Total expenses and deductions (from C19) 167,180,686 150,087,524 03 Change in net position during year -3,516,719 6,714,626 CV=(D01-D02) 04 Net position beginning of year 70,575,115 63,860,489 05 Adjustments to beginning net position and other gains or losses -1 0 CV=[D06-(D03+D04)] 06 Net position end of year (from A18) 67,058,395 70,575,115
Part H - Details of Endowment Assets Line Value of Endowment Assets No. Market Value Prior Year Amounts Include not only endowment assets held by the institution, but any assets held by private foundations affiliated with the institution. 01 Value of endowment assets at the beginning of the fiscal year 389,188 329,366 02 Value of endowment assets at the end of the fiscal year 379,043 389,188
Part J - Revenue Data for Bureau of Census Source and type Amount Total for all funds and operations (includes endowment funds, but excludes component units) Education and general/independent operations Auxiliary enterprises Hospitals Agriculture extension/experiment services (1) (2) (3) (4) (5) 01Tuition and fees 44,581,531 44,581,531 02 Sales and services 0 0 0 0 03 Federal grants/contracts (excludes Pell Grants) 2,222,678 2,222,678 0 0 0 Revenue from the state government: 04 State appropriations, current & capital 53,521,090 53,521,090 0 0 0 05 State grants and contracts 22,601,201 22,601,201 0 0 0 Revenue from local governments: 06 Local appropriation, 38,466,631 38,466,631 0 0 0 current & capital 07 Local government 1,970,020 1,970,020 0 0 0 grants/contracts 08 Receipts from property 0 and non-property taxes 09 Gifts and private grants, including capital grants 1,491,063 10Interest earnings 10,375 11Dividend earnings 0 12Realized capital gains 2,879
Part K - Expenditure Data for Bureau of Census Category Amount Total for all funds and Education and operations (includes general/ endowment funds, but independent excludes component units) operations Auxiliary enterprises Hospitals Agriculture extension/ experiment services (1) (2) (3) (4) (5) 01 Salaries and wages 78,824,961 78,824,961 0 0 02 Employee benefits, total 31,030,928 31,030,928 0 0 03 Payment to state retirement funds 0 0 0 0 0 (maybe included in line 02 above) 04 Current expenditures other than 19,526,589 19,526,589 0 0 0 salaries Capital outlay: 05 Construction 19,763,224 19,763,224 0 0 0 06 Equipment purchases 1,086,410 1,086,410 0 0 0 07 Land purchases 0 0 0 0 0 08 Interest on debt outstanding, all 0 funds and activities 09Scholarships/fellowships 56,862,593 56,862,593
Part L - Debt and Assets, page 1 Debt Category 01 Long-term debt outstanding at beginning of fiscal year 02 Long-term debt issued during fiscal year 03 Long-term debt retired during fiscal year 04 Long-term debt outstanding at end of fiscal year 05 Short-term debt outstanding at beginning of fiscal year 06 Short-term debt outstanding at end of fiscal year Amount
Part L - Debt and Assets, page 2 Assets Category 07 Total cash and security assets held at end of fiscal year in sinking or debt service funds 08 Total cash and security assets held at end of fiscal year in bond funds 09 Total cash and security assets held at end of fiscal year in all other funds Amount
Summary Finance Survey Summary IPEDS collects important information regarding your institution. All data reported in IPEDS survey components become available in the IPEDS Data Center and appear as aggregated data in various Department of Education reports. Additionally, some of the reported data appears specifically for your institution through the College Navigator website and is included in your institution s Data Feedback Report (DFR). The purpose of this summary is to provide you an opportunity to view some of the data that, when accepted through the IPEDS quality control process, will appear on the College Navigator website and/or your DFR. College Navigator is updated approximately three months after the data collection period closes and Data Feedback Reports will be available through the Data Center and sent to your institution s CEO in November 2016. Please review your data for accuracy. If you have questions about the data displayed below after reviewing the data reported on the survey screens, please contact the IPEDS Help Desk at: 1-877-225-2568 or ipedshelp@rti.org. Core Revenues Revenue Source Reported values Percent of total core revenues Core revenues per FTE enrollment Tuition and fees $6,205,033 4% $745 State appropriations $25,315,721 15% $3,038 Local appropriations $38,466,631 24% $4,616 Government grants and contracts $63,884,919 39% $7,666 Private gifts, grants, and contracts $1,490,063 1% $179 Investment income $10,375 0% $1 Other core revenues $28,291,225 17% $3,395 Total core revenues $163,663,967 100% $19,640 Total revenues $163,663,967 $19,640 Other core revenues include federal appropriations; sales and services of educational activities; other operating and nonoperating sources; and other revenues and additions (e.g., capital appropriations, capital grants and gifts, etc.). Core revenues exclude revenues from auxiliary enterprises (e.g., bookstores, dormitories), hospitals, and independent operations. For institutions reporting in Full parent/child relationships, core revenues per FTE enrollment amounts will not be allocated to child institutions. Core Expenses Expense function Reported values Percent of total core expenses Core expenses per FTE enrollment Instruction $81,650,267 49% $9,798 Research $109,898 0% $13 Public service $2,556,693 2% $307 Academic support $12,081,764 7% $1,450 Institutional support $25,594,442 15% $3,071 Student services $15,832,289 10% $1,900 Other core expenses $28,147,380 17% $3,378 Total core expenses $165,972,733 100% $19,918 Total expenses $167,180,686 $20,062 Other core expenses include scholarships and fellowships, net of discounts and allowances, and other expenses. Core expenses exclude expenses from auxiliary enterprises (e.g., bookstores, dormitories), hospitals, and independent operations. For institutions reporting in Full parent/child relationships, core expenses per FTE enrollment amounts will not be allocated to child institutions. Calculated value
FTE enrollment 8,333 The full-time equivalent (FTE) enrollment used in this report is the sum of the institution s FTE undergraduate enrollment and FTE graduate enrollment (as calculated from or reported on the 12-month Enrollment component). FTE is estimated using 12- month instructional activity (credit and/or contact hours). All doctor s degree students are reported as graduate students.
Edit Report Finance CUNY Bronx Community College (190530) Source Description Severity Resolved Options Global Edits Perform Edits You reported expenses for auxiliary enterprises in Part C (line 11) but did not report corresponding revenues in Part B (line 05). Please correct your data or explain. (Error #5414) Explanation Yes Reason: We allocate the amount of operation and maintenance of plant, depreciation, and interest to Auxiliary enterprises expenses according to the percentage of room usage provided by the Office of Space Planning & Capital Budget. Related Expenses Screens: Screen: Financial Position Upload File The value of this field is expected to be greater than zero. Please correct your data or explain. (Error #5148) Explanation Yes Reason: Other than the operation result, the unrestricted net assets in deficit is primarily attributable to recording: 1) the liabilities of accrued compensated vacation leaves and accumulated sick leaves in accordance with GASB Statement No. 16, Accounting for Compensated Absences, and 2) the liabilities for postemployment benefits to employees in accordance with GASB Statement No. 45 Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions. Screen: Expenses Screen Entry The amount reported is outside the expected range of between 212,998 and 638,994 when compared with the prior year value. Please correct your data or explain. (Error #5301) Explanation Yes Reason: We worked with CUNY Space Management and received updated information which resulted in efficiencies with the space allocations resulting in decreased expenses in Research. Screen Entry The amount reported is outside the expected range of between 805,221 and 2,415,661 when compared with the prior year value. Please correct your data or explain. (Error #5301) Explanation Yes Reason: We worked with CUNY Space Management and received updated information which resulted in efficiencies with the space allocations resulting in increased expenses in Public Service. Screen Entry The amount reported is outside the expected range of between 1,206,926 and 3,620,778 when compared with the prior year value. Please correct your data or explain. (Error #5301) Explanation Yes Reason: The variance was mainly due to the refinement in the methodology for allocating long-term debts and related expenses from University Management to each College. Screen: Net Position Upload File The calculated amount of change in net position during the year in Part D (line 03) is expected to be greater than zero. Please confirm that the data reported are correct. (Error #5202) Related Net Position Screens: Confirmation Yes