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

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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