finance 2011-12 institution: cuny medgar evers college ...€¦ · fiscal year: july 1, 2010 - june...

Finance 2011-12

Institution: CUNY Medgar Evers College (190646)User ID: 36c0021

OverviewFinance Overview

Purpose The purpose of the IPEDS Finance component is to collect basic financial information from items associated with theinstitution'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.

https://surveys.nces.ed.gov/ipeds/VisIndex.aspxhttps://surveys.nces.ed.gov/IPEDS/PriorYearDataRedirect.aspx?survey_id=5


Finance - Public institutionsReporting 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 thisquestion will determine the forms you will receive for reporting finance data.


Finance - Public institutionsGeneral Information

GASB-Reporting Institutions (aligned form)To the extent possible, the finance data requested in this report should be provided from your institution's auditedGeneral Purpose Financial Statements (GPFS). Please refer to the instructions specific to each screen of the survey fordetails and references.1. Fiscal Year CalendarThis report covers financial activities for the 12-month fiscal year: (The fiscal year reported should be the mostrecent fiscal year ending before October 1, 2011.)Beginning: month/year(MMYYYY)

Month: Year:

And ending: month/year(MMYYYY)

Month: Year:

2. Audit OpinionDid your institution receive an unqualified opinion on its General Purpose Financial Statements from your auditor for thefiscal year noted above? (If your institution is audited only in combination with another entity, answer this question basedon the audit of that entity.) Unqualified Qualified

(Explain inbox below)

Don't know(Explain inbox below)

3. Reporting ModelGASB Statement No. 34 offers three alternative reporting models for special-purpose governments like colleges anduniversities. Which model is used by your institution ? Business Type Activities

Governmental Activities

Governmental Activities with Business-Type Activities

4. Intercollegiate AthleticsIf your institution participates in intercollegiate athletics, are the expenses accounted for as auxiliary enterprises ortreated as student services? Auxiliary enterprises

Student services

Does not participate in intercollegiate athletics

Other (specify in box below)

5. Endowment AssetsDoes 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.

7 2010

6 2011


Part A - Statement of Net AssetsFiscal Year: July 1, 2010 - June 30, 2011

Line no. Current year amount Prior year amount Current Assets 01 Total current assets 18,158,371

Noncurrent Assets 31 Depreciable capital assets, net of depreciation 34,829,012

04 Other noncurrent assetsCV=[A05-A31]

7,925,270 189,234,247

05 Total noncurrent assets 224,063,259

06 Total assets

CV=(A01+A05)260,910,501 242,221,630

Current Liabilities 07 Long-term debt, current portion 7,485,671

08 Other current liabilitiesCV=(A09-A07)

11,143,824 13,543,635

09 Total current liabilities 21,029,306

Noncurrent Liabilities 10 Long-term debt 146,449,935

11 Other noncurrent liabilitiesCV=(A12-A10)

15,258,418 14,197,856

12 Total noncurrent liabilities 160,647,791

13 Total liabilities

CV=(A09+A12)256,396,175 181,677,097

Net Assets 14 Invested in capital assets, net of related debt 66,790,250

15 Restricted-expendable 3,858,263

16 Restricted-nonexpendable 173,614

17 UnrestrictedCV=[A18-(A14+A15+A16)] -12,764,606

-10,277,594

18 Total net assetsCV=(A06-A13)

4,514,326 60,544,533


13,737,744

239,247,487

247,172,757

4,080,276

15,224,100

225,913,657

241,172,075

17,092,361

12,957

173,614


Part A - Statement of Net Assets (Page 2)Fiscal Year: July 1, 2010 - June 30, 2011

Line No. Description Ending balance Prior year

Ending balance Capital Assets 21 Land & land improvements 2,132,000

22 Infrastructure 2,518,682

23 Buildings 54,686,688

32 Equipment, including art and library collections 8,047,398

27 Construction in progress 184,602,090

Total for Plant, Property and EquipmentCV = (A21+ .. A27)

282,134,212 251,986,858

28 Accumulated depreciation 30,482,203

33 Intangible assets, net of accumulated amortization 156,259

34 Other capital assets 0


2,132,000

2,582,869

259,800,727

14,505,698

3,112,918

37,862,673

317,178

0


Part B - Revenues and Other AdditionsFiscal Year: July 1, 2010 - June 30, 2011

Line No. Source of Funds Current year amount Prior year amount Operating Revenues 01 Tuition & fees, after deducting discounts & allowances 9,826,379

Grants and contracts - operating 02 Federal operating grants and contracts 3,667,590

03 State operating grants and contracts 11,544,026

04 Local government/private operating grants and contracts 6,463,374 5,481,41904a Local government operating grants and contracts 4,880,480

04b Private operating grants and contracts 600,939

05 Sales & services of auxiliary enterprises,after deducting discounts & allowances

261,169

06 Sales & services of hospitals,after deducting patient contractual allowances

0

26 Sales & services of educational activities 0

07 Independent operations 0

08 Other sources - operatingCV=[B09-(B01+ ....+B07)]

177,307 433,721

09 Total operating revenues 31,214,304

10,926,638

4,008,444

7,234,499

5,890,313

573,061

146,328

0

0

28,956,590



LineNo.

Source of funds Current year amount Prior yearamount

Nonoperating Revenues 10 Federal appropriations 0

11 State appropriations 36,811,583

12 Local appropriations, education district taxes, & similar support 3,232,994

Grants-nonoperating 13 Federal nonoperating grants 19,841,861

14 State nonoperating grants 0

15 Local government nonoperating grants 0

16 Gifts, including contributions from affiliated organizations 54,179

17 Investment income 14,799

18 Other nonoperating revenuesCV=[B19-(B10+...+B17)]

3,427,119 2,155,604

19 Total nonoperating revenues 62,111,020

27 Total operating and nonoperating revenues CV=[B19+B09] 101,874,966 93,325,32428 12-month Student FTE from E12

CV=[B28a+B28b]5,577

28a Undergraduates 5,57728b Graduates

29 Total operating and nonoperating revenues per student FTECV=[B27/B28]

18,267

0

44,314,204

3,258,350

21,668,238

0

0

243,963

6,502

72,918,376



Line No. Source of funds Current year amount Prior year amount Other Revenues and Additions 20 Capital appropriations 16,791,953

21 Capital grants & gifts 0

22 Additions to permanent endowments 0

23 Other revenues & additionsCV=[B24-(B20+...+B22)]

0 0

24 Total other revenues and additions 16,791,953

25 Total all revenues and other additions

CV=[B09+B19+B24]148,695,248 110,117,277


46,820,282

0

0

46,820,282


Part C - Expenses and Other DeductionsFiscal Year: July 1, 2010 - June 30, 2011

1 2 3 4 5 6 7 8LineNo.

Description Total amount Salaries & wages Employee fringe benefits Operation andmaintenance of plant

Depreciation Interest Allother

PY TotalAmount

Expenses andDeductions

01 Instruction 942,455 44,358,821

02 Research 596,664 767,208

03 Public service 16,159 2,767,138

05 Academic support 961,234 10,282,492

06 Student services 2,039,983 10,548,448

07 Institutional support 4,851,153 20,692,039

08 Operation &maintenanceof plant (seeinstructions)

0 8,781,581 0

10 Scholarships andfellowshipsexpenses, excludingdiscounts & allowances

12,207,775 10,379,674

11 Auxiliary enterprises 738,668 1,884,073

12 Hospital services 0 0

13 Independent operations 0 0

14 Other expenses& deductionsCV=[C19-(C01+...+C13)]

3,585,742 0 0 1 1 0 3,585,740 413,137

19 Total expenses &deductions

0 34,721,412 102,093,030

Prior year amount 102,093,030 50,248,084 19,516,845 2,860,150 2,236,945 27,231,00620 12-month Student FTE

from E12CV=[C20a+C20b]

5,577

20a Undergraduates 5,57720b Graduates

21 Total expenses anddeductions per studentFTE CV=[C19/C20]

22,589


49,005,839 29,050,998 12,351,105 3,075,428 1,678,956 1,906,897

1,787,362 515,727 46,950 289,949 158,291 179,781

3,111,156 2,016,106 828,425 115,637 63,129 71,700

10,732,549 3,104,461 762,179 2,726,113 1,488,255 1,690,307

12,655,807 5,532,011 1,982,426 1,431,871 781,695 887,821

30,723,016 7,516,936 3,224,697 6,985,434 3,813,528 4,331,268

4,380,732 1,998,065 -15,160,378 0 0

12,207,775

2,169,327 216,701 53,118 535,945 292,586 332,309

0 0 0 0 0 0

0 0 0 0 0 0

125,978,573 52,333,672 21,246,965 8,276,441 9,400,083


Part D - Summary of Changes In Net AssetsFiscal Year: July 1, 2010 - June 30, 2011

Line No. Description Current year amount Prior year amount01 Total revenues & other additions (from B25) 148,695,248 110,117,277 02 Total expenses & deductions (from C19) 125,978,573 102,093,030 03 Change in net assets during year

CV=(D01-D02)22,716,675 8,024,247

04 Net assets beginning of year 54,069,127

05 Adjustments to beginning net assets and other gains or lossesCV=[D06-(D03+D04)] -78,746,882

-1,548,841

06 Net assets end of year (from A18) 4,514,326 60,544,533 You may use the space below to provide context for the data you've reported above.

60,544,533


Part E - Scholarships and FellowshipsFiscal Year: July 1, 2010 - June 30, 2011

Line No. Source Current year amount Prior year amount01 Pell grants (federal) 19,841,861

02 Other federal grants 1,274,173

03 Grants by state government 9,373,335

04 Grants by local government 84,034

05 Institutional grants from restricted resources 151,485

06 Institutional grants from unrestricted resourcesCV=[E07-(E01+...+E05)]

501,932 1,422,194

07 Total gross scholarships and fellowships 32,147,082

Discounts and Allowances 08 Discounts & allowances applied to tuition & fees 21,767,408

09 Discounts & allowances applied to sales & services ofauxiliary enterprisesCV= (E10-E08)

1 0

10 Total discounts & allowancesCV=(E07-E11)

20,938,275 21,767,408

11 Net scholarships and fellowships expenses after deducting

discount & allowances (from C10)12,207,775 10,379,674


21,668,238

1,029,222

7,940,434

138,951

1,867,273

33,146,050

20,938,274


Part H - Details of Endowment AssetsFiscal Year: July 1, 2010 - June 30, 2011

LineNo.

Value of Endowment Assets Market Value Prior YearAmounts

Include not only endowment assets held by the institution, but anyassets held by private foundations affiliated with the institution.

01 Value of endowment assets at the beginning of the fiscal year

467,223

02 Value of endowment assets at the end of the fiscal year

515,142


515,142

598,658


Part J - Revenue Data for Bureau of CensusFiscal Year: July 1, 2010 - June 30, 2011

Source and type AmountTotal for all fundsand operations

(includesendowment funds,

but excludes componentunits)

Education andgeneral/independent

operations

Auxiliary enterprises Hospitals Agricultureextension/experiment

services

(1) (2) (3) (4) (5)01 Tuition and fees 31,864,912 31,864,912 02 Sales and

services146,329 146,329 0

03 Federalgrants/contracts(excludes PellGrants)

4,008,444

Revenue from the state government:04 State

appropriations,current &capital

91,134,486

05 State grantsand contracts

7,234,499

Revenue from local governments:06 Local

appropriation,current &capital

3,258,350

07 Localgovernmentgrants/contracts

5,890,313

08 Receipts fromproperty andnon-propertytaxes

09 Gifts andprivate grants,including capitalgrants

10 Interestearnings

11 Dividendearnings

12 Realized capitalgains


0 0

4,008,444 0 0 0

91,134,486 0 0 0

7,234,499 0 0 0

3,258,350 0 0 0

5,890,313 0 0 0

0

817,024

6,502

0

0


Part K - Expenditure Data for Bureau of CensusFiscal Year: July 1, 2010 - June 30, 2011

Category AmountTotal for all funds andoperations (includes

endowment funds, butexcludes component

units)

Education and general/independent operations

Auxiliary enterprises Hospitals Agriculture extension/experiment services

(1) (2) (3) (4) (5)01 Salaries and wages 52,333,672 216,701 0

02 Employee benefits, total 21,246,964 53,118 0

03 Payment to stateretirement funds (maybeincluded in line 02above)

0

04 Current expendituresother than salaries

18,927,894

Capital outlay: 05 Construction 26,274,309

06 Equipment purchases 7,339,401

07 Land purchases 0

08 Interest on debtoutstanding, all funds &activities

09 Scholarships/fellowships 33,146,050 33,146,050 You may use the space below to provide context for the data you've reported above.

52,116,971 0

21,193,846 0

0 0 0 0

18,189,227 738,667 0 0

26,274,309 0 0 0

7,339,401 0 0 0

0 0 0 0

0


Part L - Debt and Assets, page 1Fiscal Year: July 1, 2010 - June 30, 2011

DebtCategory Amount01 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



Part L - Debt and Assets, page 2Fiscal Year: July 1, 2010 - June 30, 2011

AssetsCategory Amount07 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


Institution: CUNY Medgar Evers College (190646) User ID: 36c0021Summary

Finance Survey Summary

IPEDS collects important information regarding your institution. All data reported in IPEDSsurvey components become available in the IPEDS Data Center and appear as aggregated datain various Department of Education reports. Additionally, some of the reported data appearsspecifically for your institution through the College Navigator website and is included in yourinstitution’s Data Feedback Report (DFR). The purpose of this summary is to provide you anopportunity to view some of the data that, when accepted through the IPEDS quality controlprocess, will appear on the College Navigator website and/or your DFR. College Navigator isupdated approximately three months after the data collection period closes and Data FeedbackReports will be available through the ExPT and sent to your institution’s CEO in November 2012.

Please review your data for accuracy. If you have questions about the data displayed belowafter 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 corerevenues

Core revenues per FTEenrollment

Tuition and fees $10,926,638 7% $1,959

Government appropriations $47,572,554 32% $8,530

Government grants and contracts $38,801,494 26% $6,957

Private gifts, grants, and contracts $817,024 1% $146

Investment income $6,502 0% $1

Other core revenues $50,424,708 34% $9,042

Total core revenues $148,548,920 100% $26,636

Total revenues $148,695,248 $26,662

Core revenues include tuition and fees; government appropriations (federal, state, and local); government grants andcontracts; private gifts, grants, and contracts; investment income; other operating and nonoperating sources; and otherrevenues 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 coreexpenses

Core expenses per FTEenrollment

Instruction $49,005,839 40% $8,787

Research $1,787,362 1% $320

Public service $3,111,156 3% $558

Academic support $10,732,549 9% $1,924

Institutional support $30,723,016 25% $5,509

Student services $12,655,807 10% $2,269

Core Expenses

Other core expenses $15,793,517 13% $2,832

Total core expenses $123,809,246 100% $22,200

Total expenses $125,978,573 $22,589

Core expenses include expenses for instruction, research, public service, academic support, institutional support, studentservices, operation and maintenance of plant, depreciation, scholarships and fellowships expenses, other expenses, andnonoperating expenses.

Calculated value

FTE enrollment 5,577

The full-time equivalent (FTE) enrollment used in this report is the sum of the institution’s FTE undergraduate enrollment andFTE 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.

Institution: CUNY Medgar Evers College (190646) User ID: 36c0021Edit Report

FinanceInstitution: CUNY Medgar Evers College (190646)

Source Description Severity Resolved OptionsScreen: Assets

UploadFile

This number should be greater thanzero. Please explain. (Error #5148)

Explanation Yes Back tosurveydata

Reason: Other than the operation result, the unrestricted net assets in deficitis primarily attributable to recording: 1) the liabilities of accruedcompensated vacation leaves and accumulated sick leaves inaccordance with GASB Statement No. 16, Accounting forCompensated Absences, and 2) the liabilities for postemploymentbenefits to employees in accordance with GASB Statement No. 45Accounting and Financial Reporting by Employers for PostemploymentBenefits Other Than Pensions.

Screen: Part 3

PerformEdits

This number should not be zero orblank. Please verify. (Error #5231)

Confirmation Yes Back tosurveydata

RelatedScreens:

Part 3

Screen: Part 1

ScreenEntry

The number entered, 8,276,441,has an expected range of between1,430,075 and 4,290,225 based onlast year's amount. Please explainthis difference. (Error #5301)


Reason: The variance was mainly due to the refinement in the methodology forallocating capital assets, and related long-term debts from UniversityManagement to each College.

ScreenEntry

The number entered, 9,400,083,has an expected range of between1,118,473 and 3,355,417 based onlast year's amount. Please explainthis difference. (Error #5301)


Reason: The variance was mainly due to the refinement in the methodology forallocating capital assets, and related long-term debts from UniversityManagement to each College.

Explanation

ScreenEntry

The number entered, 1,787,362,does not lie within the expectedrange of between 383,604 and1,150,812 when compared to lastyear's value. Please explain thedifference if the value reported iscorrect. (Error #5302)

Yes Back tosurveydata

Reason: The 2011 variance was due to the increase in research activities at RF-CUNY.

Screen: Net Assets

PerformEdits

The amount of adjustments tobeginning net assets is not withinthe expected range. Please explain.(Error #5184)


Reason: The prior period adjustment to beginning net assets was due to therefinement in the methodology for allocating capital assets, andrelated long-term debts from University Management to each College.

RelatedScreens:

Net Assets

finance 2011-12 institution: cuny medgar evers college ...€¦ · fiscal year: july 1, 2010 - june...

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