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SSU Budget 101: Overview of Sonoma State University's Financials for 2012-2013

This financial briefing by Laurence Furukawa-Schlereth, CFO and Vice President for Administration and Finance at Sonoma State University, provides a comprehensive overview of the SSU budget for 2012-2013. Key highlights include the General Fund's primary revenue sources, capital budget projects, details on grants and contracts, and how various campus programs are funded through mandatory student fees. It also addresses the management of overhead costs and the relationship between the university and auxiliary organizations.

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SSU Budget 101: Overview of Sonoma State University's Financials for 2012-2013

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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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