Download - IPEDSFinanceSurvey2010-11
Institution: Valencia Community College (138187) User ID: P1381871
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Finance 2010-11
Overview
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.
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.
Page 1 of 21Print Forms (data)
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Institution: Valencia Community College (138187) User ID: P1381871
Finance - Public institutions
Reporting StandardPlease 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.
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Institution: Valencia Community College (138187) User ID: P1381871
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 CalendarThis 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, 2010.)
Beginning: month/year (MMYYYY) Month: 7 Year: 2009
And ending: month/year (MMYYYY) Month: 6 Year: 2010
2. Audit OpinionDid 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.)
UnqualifiedQualified (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 ?
Yes - (report endowment assets)
No
You may use the space below to provide context for the data you've reported above.
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Institution: Valencia Community College (138187) User ID: P1381871
Part A - Statement of Net Assets
Fiscal Year: July 1, 2009 - June 30, 2010
Line no. Current year amount Prior year amount
Current Assets
01 Total current assets 62,465,497 74,215,547
Noncurrent Assets
31 Depreciable capital assets, net of depreciation 156,172,080 131,160,973
04 Other noncurrent assets CV=[A05-A31] 47,098,164 53,401,177
05 Total noncurrent assets 203,270,244 184,562,150
06 Total assets CV=(A01+A05) 265,735,741 258,777,697
Current Liabilities
07 Long-term debt, current portion 325,000 305,000
08 Other current liabilities CV=(A09-A07) 8,705,028 12,443,573
09 Total current liabilities 9,030,028 12,748,573
Noncurrent Liabilities
10 Long-term debt 2,925,000 3,290,000
11 Other noncurrent liabilities CV=(A12-A10) 6,863,476 5,850,011
12 Total noncurrent liabilities 9,788,476 9,140,011
13 Total liabilities CV=(A09+A12) 18,818,504 21,888,584
Net Assets
14 Invested in capital assets, net of related debt 182,317,473 172,527,233
15 Restricted-expendable 39,268,510 49,011,523
16 Restricted-nonexpendable 0 0
17 Unrestricted CV=[A18-(A14+A15+A16)] 25,331,254 15,350,357
18 Total net assets CV=(A06-A13) 246,917,237 236,889,113
You may use the space below to provide context for the data you've reported above.
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Institution: Valencia Community College (138187) User ID: P1381871
Part A - Statement of Net Assets (Page 2)
Fiscal Year: July 1, 2009 - June 30, 2010
Line No. Description Ending balance Prior year Ending balance
Capital Assets
21 Land & land improvements 29,144,857 18,597,912
22 Infrastructure 0 0
23 Buildings 221,731,794 176,299,421
32 Equipment, including art and library collections 15,061,270 28,274,323
27 Construction in progress 250,536 26,363,348
Total for Plant, Property and Equipment CV = (A21+ .. A27) 266,188,457 249,535,004
28 Accumulated depreciation 80,620,984 73,412,771
33 Intangible assets, net of accumulated amortization 0 0
34 Other capital assets 0 0
You may use the space below to provide context for the data you've reported above.
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Institution: Valencia Community College (138187) User ID: P1381871
Part B - Revenues and Other Additions
Fiscal Year: July 1, 2009 - June 30, 2010 Report in whole dollars only
Line No. Source of Funds Current year amount Prior year amount
Operating Revenues
01 Tuition & fees, after deducting discounts & allowances 45,649,251 44,366,673
Grants and contracts - operating
02 Federal operating grants and contracts 736,047 819,360
03 State operating grants and contracts 0 0
04 Local government/private operating grants and contracts 1,871,499 2,348,804
04a Local government operating grants and contracts 0 0
04b Private operating grants and contracts 1,871,499 2,348,804
05 Sales & services of auxiliary enterprises, after deducting discounts & allowances 14,008,737 14,312,290
26 Sales & services of educational activities 82,669 182,773
08 Other sources - operating (CV) CV=[B09-(B01+ ....+B07)] 1,171,953 933,059
09 Total operating revenues 63,520,156 62,962,959
Page 6 of 21Print Forms (data)
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Institution: Valencia Community College (138187) User ID: P1381871
Part B - Revenues and Other Additions
Fiscal Year: July 1, 2009 - June 30, 2010 Line No. Source of funds Current year
amountPrior year amount
Nonoperating Revenues
10 Federal appropriations 0 0
11 State appropriations 57,656,855 62,468,187
12 Local appropriations, education district taxes, & similar support 0 0
Grants-nonoperating
13 Federal nonoperating grants 66,743,615 36,848,739
14 State nonoperating grants 12,448,893 12,539,321
15 Local government nonoperating grants 0 0
16 Gifts, including contributions from affiliated organizations 371,155 75,546
17 Investment income 408,129 812,542
18 Other nonoperating revenues CV=[B19-(B10+...+B17)] 5,134,737 448,378
19 Total nonoperating revenues 142,763,384 113,192,713
27 Total operating and nonoperating revenues CV=[B19+B09] 206,283,540 176,155,672
28 12-month Student FTE from E12 CV=[B28a+B28b] 29,872
28a Undergraduates 29,872
28b Graduates
29 Total operating and nonoperating revenues per student FTE CV=[B27/B28] 6,906
Page 7 of 21Print Forms (data)
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Institution: Valencia Community College (138187) User ID: P1381871
Part B - Revenues and Other Additions
Fiscal Year: July 1, 2009 - June 30, 2010
Line No. Source of funds Current year amount Prior year amount
Other Revenues and Additions
20 Capital appropriations 2,291,135 41,811,060
21 Capital grants & gifts 11,722,079 16,657,891
22 Additions to permanent endowments 0 0
23 Other revenues & additions CV=[B24-(B20+...+B22)] 0 0
24 Total other revenues and additions 14,013,214 58,468,951
25 Total all revenues and other additions CV=[B09+B19+B24] 220,296,754 234,624,623
You may use the space below to provide context for the data you've reported above.
The college has no permanent endowments at this time.
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Institution: Valencia Community College (138187) User ID: P1381871
Part C - Expenses and Other Deductions
Fiscal Year: July 1, 2009 - June 30, 2010 Report in whole dollars only
1 2 3 4 5 6 7 8
Line No. Description Total amount Salaries & wages Employee fringe
benefits
Operation and maintenance of plant
Depreciation Interest All other
PY Total Amount
Expenses and Deductions
01 Instruction 78,178,470 49,081,388 8,508,864 12,149,895 3,377,846 74,415 4,986,062 76,296,848
02 Research 0 0 0 0 0 0 0 0
03 Public service 0 0 0 0 0 0 0 0
05 Academic support 15,823,346 8,649,270 2,581,299 2,459,143 683,677 15,062 1,434,895 15,392,606
06 Student services 24,968,804 13,137,177 3,335,343 3,880,459 1,078,824 23,767 3,513,234 23,547,320
07 Institutional support 35,184,647 13,839,558 3,919,119 5,468,127 1,520,218 33,491 10,404,134 42,824,749
08
Operation & maintenance of plant (see instructions)
0 6,764,458 2,220,946 -27,948,940 0 0 18,963,536
10
Scholarships and fellowships expenses, excluding discounts & allowances
30,431,248 30,431,248 19,001,829
11 Auxiliary enterprises 25,682,115 1,065,178 376,441 3,991,316 1,109,644 24,446 19,115,090 22,084,764
14
Other expenses & deductions CV=[C19-(C01+...+C13)]
0 0 0 0 0 0 0 0
19 Total expenses & deductions 210,268,630 92,537,029 20,942,012 0 7,770,209 171,181 88,848,199 199,148,116
Prior year amount 199,148,116 85,858,572 19,142,365 6,661,246 191,994 87,293,939
2012-month Student FTE from E12 CV=[C20a+C20b]
29,872
20a Undergraduates 29,872
20b Graduates
21
Total expenses and deductions per student FTE CV=[C19/C20]
7,039
You may use the space below to provide context for the data you've reported above.
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Institution: Valencia Community College (138187) User ID: P1381871
Part D - Summary of Changes In Net Assets
Fiscal Year: July 1, 2009 - June 30, 2010
Line No. Description Current year amount Prior year amount
01 Total revenues & other additions (from B25) 220,296,754 234,624,623
02 Total expenses & deductions (from C19) 210,268,630 199,148,116
03 Change in net assets during year CV=(D01-D02) 10,028,124 35,476,507
04 Net assets beginning of year 236,889,113 201,412,606
05 Adjustments to beginning net assets and other gains or losses CV=[D06-(D03+D04)] 0 0
06 Net assets end of year (from A18) 246,917,237 236,889,113
You may use the space below to provide context for the data you've reported above.
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Institution: Valencia Community College (138187) User ID: P1381871
Part E - Scholarships and Fellowships
Fiscal Year: July 1, 2009 - June 30, 2010
Line No. Source Current year amount Prior year amount
01 Pell grants (federal) 61,699,264 32,988,415
02 Other federal grants 3,107,212 1,593,180
03 Grants by state government 11,943,685 11,799,145
04 Grants by local government 17,322 22,551
05 Institutional grants from restricted resources 4,849,652 4,915,744
06 Institutional grants from unrestricted resources CV=[E07-(E01+...+E05)] 73,226 237,394
07 Total gross scholarships and fellowships 81,690,361 51,556,429
Discounts and Allowances
08 Discounts & allowances applied to tuition & fees 41,882,882 26,968,978
09Discounts & allowances applied to sales & services of auxiliary enterprises CV= (E10-E08)
9,376,231 5,585,622
10 Total discounts & allowances CV=(E07-E11) 51,259,113 32,554,600
11 Net scholarships and fellowships expenses after deducting discount & allowances (from C10) 30,431,248 19,001,829
You may use the space below to provide context for the data you've reported above.
Page 11 of 21Print Forms (data)
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Institution: Valencia Community College (138187) User ID: P1381871
Part H - Details of Endowment Assets
Fiscal Year: July 1, 2009 - June 30, 2010Line No. Value of Endowment Assets 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 44,670,430 36,632,225
02 Value of endowment assets at the end of the fiscal year 47,872,670 44,670,430
You may use the space below to provide context for the data you've reported above.
Page 12 of 21Print Forms (data)
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Institution: Valencia Community College (138187) User ID: P1381871
Part J - Revenue Data for Bureau of Census
Fiscal Year: July 1, 2009 - June 30, 2010
Source and type
AmountTotal 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)
01 Tuition and fees 87,532,133 87,532,133
02 Sales and services 23,467,637 82,669 23,384,968 0
03
Federal grants/contracts (excludes Pell Grants)
10,703,422 10,703,422 0 0 0
Revenue from the state government:
04
State appropriations, current & capital
59,953,793 59,953,793 0 0 0
05 State grants and contracts 12,448,893 12,448,893 0 0 0
Revenue from local governments:
06
Local appropriation, current & capital
0 0 0 0 0
07Local government grants/contracts
0 0 0 0 0
08
Receipts from property and non-property taxes
0
09
Gifts and private grants, including capital grants
7,294,629
10 Interest earnings 432,590
11 Dividend earnings 0
12 Realized capital gains 909
You may use the space below to provide context for the data you've reported above.
Page 13 of 21Print Forms (data)
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Institution: Valencia Community College (138187) User ID: P1381871
Part K - Expenditure Data for Bureau of Census
Fiscal Year: July 1, 2009 - June 30, 2010
Category
AmountTotal 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)
01 Salaries and wages 92,537,029 91,471,851 1,065,178 0
02 Employee benefits, total 20,942,012 20,565,571 376,441 0
03
Payment to state retirement funds (maybe included in line 02 above)
4,777,637 4,669,598 108,039 0 0
04 Current expenditures other than salaries 44,058,882 25,062,889 18,995,993 0 0
Capital outlay:
05 Construction 13,433,855 13,425,610 8,245 0 0
06 Equipment purchases 6,639,378 6,504,977 134,401 0 0
07 Land purchases 5,482,840 5,482,840 0 0 0
08Interest on debt outstanding, all funds & activities
0
09 Scholarships/fellowships 81,690,361 81,690,361
You may use the space below to provide context for the data you've reported above.
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Institution: Valencia Community College (138187) User ID: P1381871
Part L - Debt and Assets, page 1
Fiscal Year: July 1, 2009 - June 30, 2010 DebtCategory Amount
01 Long-term debt outstanding at beginning of fiscal year 0
02 Long-term debt issued during fiscal year 0
03 Long-term debt retired during fiscal year 0
04 Long-term debt outstanding at end of fiscal year 0
05 Short-term debt outstanding at beginning of fiscal year 0
06 Short-term debt outstanding at end of fiscal year 0
You may use the space below to provide context for the data you've reported above.
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Institution: Valencia Community College (138187) User ID: P1381871
Part L - Debt and Assets, page 2
Fiscal Year: July 1, 2009 - June 30, 2010AssetsCategory Amount
07 Total cash and security assets held at end of fiscal year in sinking or debt service funds 0
08 Total cash and security assets held at end of fiscal year in bond funds 0
09 Total cash and security assets held at end of fiscal year in all other funds 0
You may use the space below to provide context for the data you've reported above.
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Institution: Valencia Community College (138187) User ID: P1381871
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 ExPT and sent to your institution’s CEO in November 2011.
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 [email protected].
Core Revenues
Revenue Source Reported values Percent of total core revenues
Core revenues per FTE enrollment
Tuition and fees $45,649,251 22% $1,528
Government appropriations $57,656,855 28% $1,930
Government grants and contracts $79,928,555 39% $2,676
Private gifts, grants, and contracts $2,242,654 1% $75
Investment income $408,129 0% $14
Other core revenues $20,402,573 10% $683
Total core revenues $206,288,017 100% $6,906
Total revenues $220,296,754 $7,375
Core revenues include tuition and fees; government appropriations (federal, state, and local); government grants and contracts; private gifts, grants, and contracts; investment income; other operating and nonoperating sources; and other revenues and additions. Core revenues exclude revenues from auxiliary enterprises (e.g., bookstores, dormitories), hospitals, and independent operations.
Core Expenses
Expense function Reported values Percent of total core expenses
Core expenses per FTE enrollment
Instruction $78,178,470 42% $2,617
Research $0 0% $0
Public service $0 0% $0
Academic support $15,823,346 9% $530
Institutional support $35,184,647 19% $1,178
Student services $24,968,804 14% $836
Other core expenses $30,431,248 16% $1,019
Total core expenses $184,586,515 100% $6,179
Total expenses $210,268,630 $7,039
Core expenses include expenses for instruction, research, public service, academic support, institutional support, student services, operation and maintenance of plant, depreciation, scholarships and fellowships expenses, other expenses, and nonoperating expenses.
Calculated value
FTE enrollment 29,872
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.
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Page 20 of 21Print Forms (data)
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Institution: Valencia Community College (138187) User ID: P1381871 Explanation Report
Number Source Location Description Severity Accepted
Screen: Part B - Revenues and Other Additions
1 Row: 35 Col: 3
Screen Entry
The revenue amount per student FTE in line 29 is smaller than expected for your type of institution. Please explain this result.
Explanation Yes
Reason:The revenue amount per student FTE is smaller than expected because the increase in enrollment growth was not matched by a corresponding increase in operating and nonoperating revenues.
Screen: Part B - Revenues and Other Additions
2 Row: 33 Col: 3
Perform Edits
This number should not be zero or blank. Please explain.
Explanation Yes
Reason: The college has no permanent endowments at this time.
Screen: Part E - Scholarships and Fellowships
3 Row: 13 Col: 3
Screen Entry
The number entered, 81,690,361, has an expected range of between 25,778,215 and 77,334,643 based on last year's amount. Please explain this difference.
Explanation Yes
Reason:Total gross scholarships and fellowships is greater than expected as a result of enrollment growth, number of eligible participants qualifying for financial aid and year-round Pell awards.
4 Row: 16 Col: 3
Screen Entry
The number entered, 41,882,882, has an expected range of between 13,484,489 and 40,453,467 based on last year's amount. Please explain this difference.
Explanation Yes
Reason:Discounts and allowances is greater than expected as a result of enrollment growth, number of eligible participants qualifying for financial aid and year-round Pell awards.
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