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Financial Briefing

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.

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Financial Briefing

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  1. 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

  2. Composition of the SSU Budget2012-2013 SSU BUDGET 101

  3. SSU BUDGET 101 Composition of the SSU Budget2012-2013 • 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

  4. SSU BUDGET 101 Composition of the SSU Budget 2012-2013 • 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

  5. SSU BUDGET 101 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).

  6. SSU BUDGET 101 Composition of the SSU Budget2012-2013 • Resources are restricted to the SSU Housing Program. • The campus is reimbursed for overhead costs.

  7. SSU BUDGET 101 Composition of the SSU Budget2012-2013 • The campus is reimbursed for overhead costs. • Net income over expense is used to further support the ongoing activities of Extended Education.

  8. SSU BUDGET 101 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.

  9. SSU BUDGET 101 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.

  10. SSU BUDGET 101 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.

  11. SSU BUDGET 101 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.

  12. SSU BUDGET 101 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

  13. SSU BUDGET 101 Composition of the SSU Budget2012-2013 • SSE’s budget is developed by its Board of Directors. • The campus is fully reimbursed for all overhead costs.

  14. SSU BUDGET 101 Composition of the SSU Budget 2012-2013 • 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.

  15. SSU BUDGET 101 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

  16. Composition of the SSU Budget2012-2013 SSU BUDGET 101

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