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.

of 21Print Forms (data)

4/8/2011https://surveys.nces.ed.gov/ipeds/DataForms.aspx


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.




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.




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





Part A - Statement of Net Assets (Page 2)


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





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





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






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


The college has no permanent endowments at this time.




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





Part D - Summary of Changes In Net Assets


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





Part E - Scholarships and Fellowships


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





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





Part J - Revenue Data for Bureau of Census


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





Part K - Expenditure Data for Bureau of Census


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





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





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





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.



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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ipedsfinancesurvey2010-11

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