uf budgets - cfo.ufl.edu · colors of money at uf. uf b. udgets. uf enterprise revenue sources...

UF BUDGETS

Michael McKee | Vice President and Chief Financial Officer

UF B

UDG

ETS Sources Tuition and Fees State Appropriation – Base, Performance, Preeminence, Specials Lottery Contracts and Grants Plant Operations and Maintenance (PO&M) Auxiliaries Component Units (DSO’s and Affiliates) Returned Overhead (Indirect Costs) and Residuals Federal Formula Funds (IFAS) Incidental Revenues Administrative Overhead Strategic Funds Financial Aid

Colors of Money at UF

UF B

UDG

ETS

UF Enterprise Revenue Sources FY15

Dollar amounts expressed in thousands

Total$5.04 Billion

Hospital and Component UnitRevenues, $2,673,530, 53%

Investment Income (Net), $126.601, 3%

Auxiliary Sales and Other Revenues, $308,163, 6%

Federal and State Student Financial Aid, $115,755, 2%

State Appropriation (Noncapital), $654,120, 13%

Student Tuition and Fees (Gross), $522,444, 10%

Federal, State & Local Grants and Contracts, $431,518, 9%

Other Grants, Contracts, Gifts and Transfers from Component Units, $207,574, 4%

Chart1

State Appropriation (Noncapital)

Student Tuition and Fees (Gross)

Federal, State and Local Grants and Contracts

Other Grants, Contracts, Gifts and Transfers from Component Units

Hospital and Component Unit Revenues

Investment Income (Net)

Auxiliary Sales and Other Revenues

Federal and State Student Financial Aid

654120

522444

431518

207574

2673530

126601

308163

115755

Revenue Sources UF only

UF Revenue Sources - FY15


UF%

State Appropriation (Noncapital)$ 654,12013.0%

Student Tuition and Fees (Gross)$ 522,44410.4%

Federal, State and Local Grants and Contracts$ 431,5188.6%

Other Grants, Contracts, Gifts and Transfers from Component Units$ 207,5744.1%

Hospital and Component Unit Revenues$ 2,673,53053.0%

Investment Income (Net)$ 126,6012.5%

Auxiliary Sales and Other Revenues$ 308,1636.1%

Federal and State Student Financial Aid$ 115,7552.3%

Total5,039,705

Less Income Before Other Revenues, Expenses, Gains, or Losses

NetMatches "People and Space" Expenses

Auxiliary Sales and Others:

Housing rent, Transportation and Parking revenues, Student Heath fees, lab testing fees, conferences and workshops, Florida University Press, food concession commissions, Medical Self-Insurance premiums (blended component units).


Chart1


Total $5.04 Billion

SRECNP 2014

UNIVERSITY OF FLORIDA

A COMPONENT UNIT OF THE STATE OF FLORIDA

STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION1235

for the Fiscal Year Ended June 30, 2014

(amounts expressed in thousands)

University of FloridaComponent Units

Direct-SupportHealth ScienceShands Hospital

2013-14OrganizationsCenter Affiliatesand OthersTOTAL 2014Classification

OPERATING REVENUES

Student Tuition and Fees$ 508,448$ -$ -$ -508,448Tuition

Scholarship Allowances(149,793)---(149,793)

Student Tuition and Fees, Net of Scholarship Allowances358,655---358,655

Federal Grants and Contracts366,315---366,315Sponsored Programs

State and Local Grants and Contracts44,638---44,638Sponsored Programs

Nongovernmental Grants and Contracts118,723---118,723Sponsored Programs

Sales and Services of Auxiliary Enterprises (Note 13)129,942---129,942Auxiliary Sales and Others

Sales and Services of Educational Departments52,012---52,012Auxiliary Sales and Others

Sales and Services of Component Units-65,191--65,191Component Unit Sales (mainly UAA and Gator Boosters)

Hospital Revenues--663,0831,587,6992,250,782Hospitals and Physician Practice Associations

Gifts and Donations - Component Units-99,305--99,305Gifts

Royalties and Licensing Fees - Component Units-29,958--29,958Component Unit Sales

Interest on Loans and Notes Receivable1,178---1,178Auxiliary Sales and Others

Other Operating Revenues2,38141127,89644,86875,556Auxiliary Sales and Others, Component Unit Sales, Hospitals and Physician Practice Associations

Total Operating Revenues1,073,844194,865690,9791,632,5673,742,048Total Operating Revenue - based on tution gross and after transfer elimination

OPERATING EXPENSES

Employee Compensation and Benefits1,724,9141,43779,505793,7492,599,605

Services and Supplies472,507159,06555,444722,3121,409,328

Utilities and Communications62,761---62,761

Scholarships, Fellowships and Waivers, Net78,418---78,418

Depreciation123,1149,9447,80377,220218,081

Self-Insured Claims and Expenses (Note 16)(5,784)---(5,784)

Other Component Unit Operating Expenses-----

Total Operating Expenses (Note 18)2,455,930170,446142,7521,593,2814,362,409

Operating Income (Loss)(1,382,086)24,419548,22739,286

NONOPERATING REVENUES (EXPENSES)

Noncapital State Appropriations605,8906,912-7,050619,852State Appropriations

Federal and State Student Financial Aid116,994---116,994Student Financial Aid

Noncapital Grants, Contracts, and Gifts4,401---4,401Sponsored Programs

Investment Income37,474202,79258337,587278,436Investment Income

Net Increase (Decrease) in the Fair Value of Investments32,52412,736(412)3,45248,300Investment Income

Investment Expenses(3,598)(793)(876)(7,586)(12,853)Investment Income

Other Nonoperating Revenues42246,210-4,85851,490Auxiliary Sales and Others, Component Unit Sales, Hospitals and Physician Practice Associations

Gain (Loss) on Disposal of Capital Assets(2,699)1,219(655)(2,047)(4,182)

Interest on Capital Asset-Related Debt(8,048)(2,349)-(20,372)(30,769)

Other Nonoperating Expenses(2,948)485(41,334)42,809(988)

Net Nonoperating Revenues (Expenses)780,412267,212(42,694)65,7511,106,620Total Nonoperating Revenue - after transfer elimination

4,848,668Total Revenue

Income (Loss) Before Other Revenues, Expenses,

Gains, or Losses(601,674)291,631505,533105,037

Capital State Appropriations43,667---43,667

Capital Grants, Contracts, Donations, and Student Fees17,707---17,707

Additions to Permanent Endowments-31,583--31,583

92,957

Total Other Revenues, Expenses, Gains, or Losses61,37431,583--

Increase (Decrease) in Net Position(540,300)323,214505,533105,037

Net Position, Beginning of Year2,368,9611,980,030158,8731,036,234

Adjustment to Beginning Net Position (Note 2)--(357)-

Adjusted Net Position, Beginning of Year, as Restated2,368,9611,980,030158,5161,036,234

Net Position, End of Year$ 1,828,661$ 2,303,244$ 664,049$ 1,141,271

Revenue Sources-Recon BOT Stats



UFDSOHSC Affiliates and HospitalsTotal%

Hospitals and Physician Practice Associations$ - 0$ - 0$ 2,328,404$ 2,328,40448%

State Appropriation (Noncapital)$ 605,890$ 6,912$ 7,050$ 619,85213%

Sponsored Programs$ 534,077$ - 0$ - 0$ 534,07711%

Student Tuition and Fees (Gross)$ 508,448$ - 0$ - 0$ 508,44810%

Investment Income (Net)$ 66,400$ 214,735$ 32,748$ 313,8836%

Auxiliary Sales and Other$ 185,935$ - 0$ - 0$ 185,9354%

Component Unit Sales$ - 0$ 141,770$ - 0$ 141,7703%

Federal and State Student Financial Aid$ 116,994$ - 0$ - 0$ 116,9942%

Gifts$ - 0$ 99,305$ - 0$ 99,3052%

Total2,017,744462,7222,368,2024,848,668

Reconciliation with BOT Welcome Stats

(Less) Scholarship Allowance(149,793)--(149,793)adjust Tuition and Fees line

Add Capital State Appropriation43,667--43,667adjust State Appropriations, remove (Noncapital), or add new line

Add Capital Grants, Contracts, Donations, and Student Fees17,707--17,707adjust Sponsored Programs line

Add Addition to Permanent Endowment31,583--31,583adjust Gifts

Remove Interest on Loans and Notes Receivable from Aux(1,178)adjust Auxiliary

Add Interest on Loans and Notes Receivable to Investment1,178adjust Investment

Add Transfers Elimination (Omitted)

Component Unit Sales-53,915-53,915adjust CU sales

Gifts-1,235-1,235adjust Gifts

Hospitals and Physician Practice Associations--155,632155,632adjust Hospital revenue

Total Revenue per BOT Welcome Stats1,960,908517,8722,523,8345,002,614





[], [], []

Revenue Sources




Hospitals and Physician Practice Associations$ - 002,328,4042,328,40448%

State Appropriation (Noncapital)$ 605,8906,9127,050619,85213%

Sponsored Programs$ 534,07700534,07711%

Student Tuition and Fees (Gross)$ 508,44800508,44810%

Investment Income (Net)$ 66,400214,73532,748313,8836%

Auxiliary Sales and Other$ 185,93500185,9354%

Component Unit Sales$ - 0141,7700141,7703%

Federal and State Student Financial Aid$ 116,99400116,9942%

Gifts$ - 099,305099,3052%

Total2,017,744462,7222,368,2024,848,668

AFR Reconciliation

Operating Revenue4,389,585

Nonoperating Revenue and Expenses575,172

plus Nonoperating Expenses not included above643,043

plus Scholarship Allowance149,793

(less) Transfers Elimination(908,925)

Total Revenue Summary4,848,668



Revenue Sources


[], [], []

Size and Scale

[], [], []


Size and Scale: FY14 Key Facts

University and Component Units

Total Revenues$4.8billion

Investment Pool$3.9billion

Book Value of Capital Assets$2.9billion

Employment - headcount26,489UF only, as of 3/20/15

Research Expenditures$709million

Lecomte,Patrice:HERD survey

Expenses UF Only



UF%


Sponsored Programs$ 1,197,74344.7%



Auxiliary Sales and Other$ 185,9356.9%


Total2,681,410

Less Income Before Other Revenues, Expenses, Gains, or Losses(58,457)

Net2,622,953Matches "People and Space" Expenses

AFR Reconciliation


Nonoperating Revenue871,747





Expenses UF Only


[], [], []

Functionnal Expenses

Expenses - FY14

Dollar amounts are in thousands

2014SourceGASB Type

Employee Compensation and Benefits$ 1,724,914AFROperating

General Expenses$ 475,905AFROperating and Nonoperating

Space - Utilities and Communication$ 62,761CWOperating

Space - Debt Service$ 8,048AFRNonoperating

Space - Depreciation$ 123,114AFROperating

Scholarship Allowance and Scholarships, Fellowships and Waivers$ 228,211AFRNonoperating

Total Expenses2,622,953

CW = Crosswalk

General Expenses

Subcontracts (C&G)60,668

Contractual Expenses129,956

Furniture, Equipment and Supplies119,325

Travel45,064

Other Expenses65,734

Total General Expenses420,747

Validation of General Operating Expenses

Total UF Operating Expenses2,455,930

Total UF Nonoperating Expenses17,230

(less) Operating except General identified above(1,997,255)

General Expenses475,905

AFR Reconciliation

Operating Expenses2,455,930

Nonoperating Expenses17,230

Scholarship Allowance149,793




[], [], []

Financial Aid

Functional Classifications


Instruction$ 686,760

Research584,734

Public Service432,100

Academic Support167,247

Institutional Support162,253

Depreciation123,114

Auxiliary Operations112,307

Operation and Maintenance of Plant94,905

Scholarships, Fellowships and Waivers, Net206,452

Student Services35,851


Total Expenses$ 2,622,953

Expenses 3 years

Financial Aid


Federal - Pell Grants47,492

Other Federal Grants2,982

Bright Future59,722

Other State Programs9,301

Departmental Scholarships32,907

Institutional Scholarships34,687

Fee Waivers41,120

Scholarship Allowance and Scholarships, Fellowships and Waivers228,211

Gross Tuition

People and Space - FY14


201420132012SourceGASB Type

Employee Compensation and Benefits1,724,9141,619,8681,522,935AFROperating

General Expenses420,747415,794459,451AFROperating and Nonoperating

Space - Utilities and Rentals73,03375,46677,117CWOperating

Space - Repair and Maintenance44,88646,10753,913CWOperating

Space - Debt Service8,0486,1345,483AFRNonoperating

Space - Depreciation123,114121,356116,697AFROperating

Scholarships, Fellowships and Waivers, Net Expense228,211230,088222,364AFRNonoperating

Total Expenses2,622,9532,514,8132,457,960

CW = Crosswalk

Above Expenses associated with Sponsor Research495,452511,376534,947


Total UF Operating Expenses2,455,9302,346,5892,244,498

Total UF Nonoperating Expenses17,23020,16071,908

(less) Operating except General identified above(2,052,413)(1,950,955)(1,856,955)

General Expenses420,747415,794459,451

AFR Reconciliation

Operating Expenses2,455,9302,346,5892,244,498

Nonoperating Expenses17,23020,16071,908

Scholarship Allowance149,793148,064141,554

Total Expenses2,622,9532,514,8132,457,960

State Appropriation

Amounts expressed in thousands

2005200620072008200920102011201220132014

Student Tuition and Fees (Gross)$ 242,921$ 255,373$ 278,381$ 310,893$ 344,001$ 383,204$ 424,462$ 462,050$ 500,508$ 508,448

Noncapital State Appropriation$ 557,086$ 596,314$ 702,289$ 662,574$ 620,968$ 552,200$ 579,123$ 527,880$ 485,479$ 605,890

State Appropriation


Noncapital State Appropriation

Student Tuition and Fees (Gross) and State Appropriations

Debt 20 Year


2005200620072008200920102011201220132014


Capital Appropriation$ 42,745$ 68,716$ 115,309$ 152,474$ 83,702$ 37,969$ 60,259$ 6,060$ 9,464$ 43,667

Total State Appropriation$ 599,831$ 665,030$ 817,598$ 815,048$ 704,670$ 590,169$ 639,382$ 533,940$ 494,943$ 649,557

Debt 20 Year


Capital Appropriation

Total State Appropriation

Research Awards 10 year

EntityType of Debt20142013201220112010200920082007200620052004200320022001200019991998199719961995

Univerity of FloridaCIDP181,579119,401126,284104,50779,164129,375126,555112,636119,260112,812123,180129,128134,967135,764140,424114,36675,50178,47671,10373,862

Univerity of FloridaLoans & Notes11,4735,000000000000000000000

Univerity of FloridaInstallment Debt3,3601,6181,9452,0702,5544,4414,0125,0462,398266771490358142377302377114261,576

Univerity of FloridaCapital Leases2,9473,0763,1903,3113,4173,5173,6113,7013,7833,8613,9354,0044,0691,7771,9692,1502,3202,4782,6312,772

Univerity of Florida Total199,359129,095131,419109,88885,135137,333134,178121,383125,441116,939127,886133,622139,394137,683142,770116,81878,19880,96574,16078,210

Direct Support OrganizationsBonds Payable91,210117,895122,890111,845115,715122,405126,815118,350119,915111,410112,93579,30027,70028,40029,10029,70029,94630,53031,11426,899

Direct Support OrganizationsLoans & Notes15,9020000000000000000000

Direct Support OrganizationsCapital Leases00000000000004906,7241,1185479

Direct Support OrganizationsInstallment Debt00000000000000000001,774

Direct Support Organizations Total107,112117,895122,890111,845115,715122,405126,815118,350119,915111,410112,93579,30027,70028,44929,10036,42431,06430,58431,12128,682

HSC Affiliates and HospitalsBonds Payable730,939783,405625,682646,471621,388645,703702,720593,038430,394445,562466,002441,997286,296284,929291,390288,035307,121322,476160,758168,094

HSC Affiliates and HospitalsInstallment Debt000000000001,7864,0922,9423,9602,2920000

HSC Affiliates and HospitalsCapital Leases8,14110,34710,8583,1484,7388,4867,0306,9197,0717,59911,60813,2537,3867,5886,4136,7246,5286,34803,457

HSC Affiliates and HospitalsLoans & Notes8,0008,000000000000000000000

HSC Affiliates and Hospitals Total747,080801,752636,540649,619626,126654,189709,750599,957437,465453,161477,610457,036297,774295,459301,763297,051313,649328,824160,758171,551

Grand Total1,053,5511,048,742890,849871,352826,976913,927970,743839,690682,821681,510718,431669,958464,868461,591473,633450,293422,911440,373266,039278,443


19951996199719981999200020012002200320042005200620072008200920102011201220132014

University of Florida$ 78,210$ 74,160$ 80,965$ 78,198$ 116,818$ 142,770$ 137,683$ 139,394$ 133,622$ 127,886$ 116,939$ 125,441$ 121,383$ 134,178$ 137,333$ 85,135$ 109,888$ 131,419$ 129,095$ 199,359

Direct Support Organizations$ 28,682$ 31,121$ 30,584$ 31,064$ 36,424$ 29,100$ 28,449$ 27,700$ 79,300$ 112,935$ 111,410$ 119,915$ 118,350$ 126,815$ 122,405$ 115,715$ 111,845$ 122,890$ 117,895$ 107,112

HSC Affiliates and Hospitals$ 171,551$ 160,758$ 328,824$ 313,649$ 297,051$ 301,763$ 295,459$ 297,774$ 457,036$ 477,610$ 453,161$ 437,465$ 599,957$ 709,750$ 654,189$ 626,126$ 649,619$ 636,540$ 801,752$ 747,080



University of Florida

Direct Support Organizations

HSC Affiliates and Hospitals

Capital Asset-Related Debt

Financial Aid Administered

(In Thousands)

2005200620072008200920102011201220132014

Federal Agencies316,608324,437360,964322,642336,523487,454416,916423,116416,588465,297

State and Local Agencies61,95960,355102,93294,12186,03961,16561,19348,51244,58752,075

Others115,358133,984119,150144,889151,470129,608141,014173,057179,477184,325

Totals493,925518,776583,046561,652574,032678,227619,123644,685640,652701,697

2005316,60861,959115,358493,925

2006324,43760,355133,984518,776

2007360,964102,932119,150583,046

2008322,64294,121144,889561,652

2009336,52386,039151,470574,032

2010487,45461,165129,608678,227

2011416,91661,193141,014619,123

2012423,11648,512173,057644,685

2013416,58844,587179,477640,652

2014465,29752,075184,325701,697


Federal Agencies

State and Local Agencies

Others

Research Awards

SNP 2014


(In Thousands)

2005200620072008200920102011201220132014


Florida State Agencies71,21179,30785,52089,60994,26088,87886,03069,4056781369,107

Others75,06090,42396,987104,37693,899107,737116,673125,335133,389128,817

Totals326,769351,980376,376409,474429,476469,573498,715493,960507,969502,117

2005180,49871,21175,060

2006182,25079,30790,423

2007193,86985,52096,987

2008215,48989,609104,376

2009241,31794,26093,899

2010272,95888,878107,737

2011296,01286,030116,673

2012299,22069,405125,335

2013306,76767813133,389

2014304,19369,107128,817

2005200620072008200920102011201220132014

180,498182,250193,869215,489241,317272,958296,012299,220306,767304,193

71,21179,30785,52089,60994,26088,87886,03069,4056781369,107

75,06090,42396,987104,37693,899107,737116,673125,335133,389128,817

SNP 2014

Federal Agencies

Florida State Agencies

Others




STATEMENT OF NET POSITION

as of June 30, 2014




20142013OrganizationsCenter Affiliatesand Others

ASSETS

Current Assets:

Cash and Cash Equivalents (Note 1)$ 152$ 285$ 26,604$ 55,716$ 60,944

Unexpended General Revenue Releases

Investments (Note 3)1,161,0211,071,694192,2896,218176,322

Accounts Receivable, Net (Note 4)96,63090,802112,85883,406263,318

Loans and Notes Receivable, Net (Note 4)2,7872,821---

Due From State (Note 5)45,97714,795--15,781

Due From Component Units/University (Note 6)25,13826,50346,53816,17060,318

Inventories (Note 7)4,6904,57042-24,446

Deposits - Other

Other Current Assets2,1301,9646,1972,49540,558

Total Current Assets1,338,5251,213,434384,528164,005641,687

Noncurrent Assets:

Restricted Cash and Cash Equivalents (Note 1)14219,681-19,500

Endowment Investments

Unexpended General Revenue Releases - Restricted-

Restricted Investments (Note 3)152,510104,0531,829,86319,513343,685


Depreciable Capital Assets, Net (Note 8)1,568,9051,633,266178,72559,745768,822

Nondepreciable Capital Assets (Note 8)145,86053,07277,6248,744130,554

Other Noncurrent Assets631,0401084,745218,550

Total Noncurrent Assets1,904,3271,827,8272,096,00192,7471,481,111

TOTAL ASSETS3,242,8523,041,2612,480,529256,7522,122,798

DEFERRED OUTFLOWS OF RESOURCES

Accumulated Decrease in Fair Value of Interest Rate Swap Agreements----42,052

Losses on Debt Refunding----631

TOTAL DEFERRED OUTFLOWS OF RESOURCES----42,683

TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES$ 3,242,852$ 3,041,261$ 2,480,529$ 256,752$ 2,165,481

LIABILITIES

Current Liabilities:

Accounts Payable$ 64,133$ 66,992$ 14,429$ 20,386$ 152,584

Salaries and Wages Payable24,30419,2523,8507,09071,141

Due to State-

Due To Component Units/University (Note 6)46,54780,17466,59812,82747,471

Unearned Revenue (Note 10)29,53625,43062,0141,704-

Estimated Claims Payable

Deposits Held in Custody19,05516,086-81-

Obligations Under Securities Lending and Repurchase Agreements-

Other Current Liabilities (Note 11)2017,1332,885--

Long-Term Liabilities - Current Portion: (Note 12)

Capital Improvement Debt Payable8,6057,307---

Bonds Payable--10,5802,01123,687

Loans and Notes Payable281-14,430--

Installment Purchase Agreements Payable1,263846---

Capital Leases Payable137129-1932,339

Compensated Absences Payable11,6589,143244--

Liability for Self-Insured Claims9,19611,59626,240--

Total Current Liabilities214,916244,088201,27044,292297,222

Noncurrent Liabilities: (Note 12)


Bonds Payable--80,63033,036672,205

Loans and Notes Payable11,1925,0001,4728,000-


Capital Leases Payable2,8102,947-3495,260

Compensated Absences Payable114,293104,3053,119--

Other Postemployment Benefits Payable180,690139,775--2,386

Liability for Self-Insured Claims36,60644,551---

Other Noncurrent Liabilities18,48218,76822,392-71,028

Total Noncurrent Liabilities539,144428,212107,61341,385750,879

TOTAL LIABILITIES754,060672,300308,88385,6771,048,101

DEFERRED INFLOWS OF RESOURCES

Accumulated Increase in Fair Value of Interest Rate Swap Agreements

Gains on Debt Refunding----11,668

TOTAL LIABILITIES AND DEFERRED INFLOWS OF RESOURCES754,060672,300308,88385,6771,059,769

NET POSITION

Net Investment in Capital Assets1,565,3131,554,445117,56024,901195,225

Restricted:

Nonexpendable:

Endowment--1,196,686-97

Expendable:

Endowment--380,075-11,931

Loans36,31735,853---

Capital Projects79,29464,217---

Debt Service4,4335,453---

Other654,866589,690326,610--

Unrestricted148,569119,303150,715146,174898,459

TOTAL NET POSITION2,488,7922,368,9612,171,646171,0751,105,712

TOTAL LIABILITIES AND NET POSITION$ 3,242,852$ 3,041,261$ 2,480,529$ 256,752$ 2,165,481

The accompanying notes are an integral part of these financial statements.

Do Total Assets = Total Liabilities and Net Assets?00000

Griswold,Edwin C:plus 1

Griswold,Edwin C:Less 1



Lecomte,Patrice:minus 1

Griswold,Edwin C:less 3 to balance w adj to liab on tables

Griswold,Edwin C:PLUS 1

Griswold,Edwin C:LESS 1


UF B

UDG

ETS

UF Enterprise Revenue Expenses FY15


Total$5.04 BillionEmployee Compensation and Benefits, $2,706,048, 54%Services and Supplies,

$1,634,818, 32.4%

Space – Utilities and Communication, $67,727, 1%

Space – Debt Service, $35,648, 1%

Space – Depreciation, $237,594, 5%

Scholarship Allowance and Scholarships, Fellowships and Waivers, $230,067, 5%

Unexpended Future Obligations, $128,000, 2%

Chart1


Total $5.04 Billion

SRECNP 2014









OPERATING REVENUES
















OPERATING EXPENSES





Depreciation123,1149,9447,80377,220218,081



















Gains, or Losses(601,674)291,631505,533105,037




92,957



















Gifts$ - 0$ 99,305$ - 0$ 99,3052%

Total2,017,744462,7222,368,2024,848,668

















[], [], []

Revenue Sources












Gifts$ - 099,305099,3052%

Total2,017,744462,7222,368,2024,848,668

AFR Reconciliation









Revenue Sources


[], [], []

Size and Scale

[], [], []










Expenses UF Only



UF%







Total2,681,410



AFR Reconciliation







Expenses UF Only


[], [], []


Expenses - FY14


2014SourceGASB Type








CW = Crosswalk

General Expenses




Travel45,064








AFR Reconciliation







[], [], []

Financial Aid




Research584,734




Depreciation123,114







Expenses 3 years

Financial Aid




Bright Future59,722




Fee Waivers41,120


Gross Tuition











Total Expenses2,622,9532,514,8132,457,960

CW = Crosswalk







AFR Reconciliation




Total Expenses2,622,9532,514,8132,457,960

State Appropriation


2005200620072008200920102011201220132014



State Appropriation




Debt 20 Year


2005200620072008200920102011201220132014




Debt 20 Year





















Grand Total1,053,5511,048,742890,849871,352826,976913,927970,743839,690682,821681,510718,431669,958464,868461,591473,633450,293422,911440,373266,039278,443


19951996199719981999200020012002200320042005200620072008200920102011201220132014











(In Thousands)

2005200620072008200920102011201220132014



Others115,358133,984119,150144,889151,470129,608141,014173,057179,477184,325

Totals493,925518,776583,046561,652574,032678,227619,123644,685640,652701,697

2005316,60861,959115,358493,925

2006324,43760,355133,984518,776

2007360,964102,932119,150583,046

2008322,64294,121144,889561,652

2009336,52386,039151,470574,032

2010487,45461,165129,608678,227

2011416,91661,193141,014619,123

2012423,11648,512173,057644,685

2013416,58844,587179,477640,652

2014465,29752,075184,325701,697


Federal Agencies


Others

Research Awards

SNP 2014


(In Thousands)

2005200620072008200920102011201220132014



Others75,06090,42396,987104,37693,899107,737116,673125,335133,389128,817

Totals326,769351,980376,376409,474429,476469,573498,715493,960507,969502,117

2005180,49871,21175,060

2006182,25079,30790,423

2007193,86985,52096,987

2008215,48989,609104,376

2009241,31794,26093,899

2010272,95888,878107,737

2011296,01286,030116,673

2012299,22069,405125,335

2013306,76767813133,389

2014304,19369,107128,817

2005200620072008200920102011201220132014

180,498182,250193,869215,489241,317272,958296,012299,220306,767304,193

71,21179,30785,52089,60994,26088,87886,03069,4056781369,107

75,06090,42396,987104,37693,899107,737116,673125,335133,389128,817

SNP 2014

Federal Agencies


Others





as of June 30, 2014





ASSETS

Current Assets:









Deposits - Other



Noncurrent Assets:










TOTAL ASSETS3,242,8523,041,2612,480,529256,7522,122,798






LIABILITIES




Due to State-









Bonds Payable--10,5802,01123,687









Bonds Payable--80,63033,036672,205














NET POSITION


Restricted:

Nonexpendable:

Endowment--1,196,686-97

Expendable:

Endowment--380,075-11,931

Loans36,31735,853---



Other654,866589,690326,610--

Unrestricted148,569119,303150,715146,174898,459














UF B

UDG

ETS

UF Revenue Sources FY15


Total$2.93 BillionOther Grants, Contracts Gifts and Transfers from

Component Units,$1,006,816, 34%

Federal, State and Local Grants

and Contracts, $431,518, 15%


$522,444, 18%

Investment Income (Net), $29,335, 1%

Auxiliary Sales and Other, $181,245, 6%

Federal and State Student Financial Aid, $115,755, 4%

State Appropriation (Noncapital), $643,570, 22%

Chart1


Total $2.93 Billion

SRECNP 2014









OPERATING REVENUES
















OPERATING EXPENSES





Depreciation123,1149,9447,80377,220218,081



















Gains, or Losses(601,674)291,631505,533105,037




92,957



















Gifts$ - 0$ 99,305$ - 0$ 99,3052%

Total2,017,744462,7222,368,2024,848,668

















[], [], []

Revenue Sources












Gifts$ - 099,305099,3052%

Total2,017,744462,7222,368,2024,848,668

AFR Reconciliation









Revenue Sources


[], [], []

Size and Scale

[], [], []










Expenses UF Only



UF%







Total2,681,410



AFR Reconciliation







Expenses UF Only


[], [], []


Expenses - FY14


2014SourceGASB Type








CW = Crosswalk

General Expenses




Travel45,064








AFR Reconciliation







[], [], []

Financial Aid




Research584,734




Depreciation123,114







Expenses 3 years

Financial Aid




Bright Future59,722




Fee Waivers41,120


Gross Tuition











Total Expenses2,622,9532,514,8132,457,960

CW = Crosswalk







AFR Reconciliation




Total Expenses2,622,9532,514,8132,457,960

State Appropriation


2005200620072008200920102011201220132014



State Appropriation




Debt 20 Year


2005200620072008200920102011201220132014




Debt 20 Year





















Grand Total1,053,5511,048,742890,849871,352826,976913,927970,743839,690682,821681,510718,431669,958464,868461,591473,633450,293422,911440,373266,039278,443


19951996199719981999200020012002200320042005200620072008200920102011201220132014











(In Thousands)

2005200620072008200920102011201220132014



Others115,358133,984119,150144,889151,470129,608141,014173,057179,477184,325

Totals493,925518,776583,046561,652574,032678,227619,123644,685640,652701,697

2005316,60861,959115,358493,925

2006324,43760,355133,984518,776

2007360,964102,932119,150583,046

2008322,64294,121144,889561,652

2009336,52386,039151,470574,032

2010487,45461,165129,608678,227

2011416,91661,193141,014619,123

2012423,11648,512173,057644,685

2013416,58844,587179,477640,652

2014465,29752,075184,325701,697


Federal Agencies


Others

Research Awards

SNP 2014


(In Thousands)

2005200620072008200920102011201220132014



Others75,06090,42396,987104,37693,899107,737116,673125,335133,389128,817

Totals326,769351,980376,376409,474429,476469,573498,715493,960507,969502,117

2005180,49871,21175,060

2006182,25079,30790,423

2007193,86985,52096,987

2008215,48989,609104,376

2009241,31794,26093,899

2010272,95888,878107,737

2011296,01286,030116,673

2012299,22069,405125,335

2013306,76767813133,389

2014304,19369,107128,817

2005200620072008200920102011201220132014

180,498182,250193,869215,489241,317272,958296,012299,220306,767304,193

71,21179,30785,52089,60994,26088,87886,03069,4056781369,107

75,06090,42396,987104,37693,899107,737116,673125,335133,389128,817

SNP 2014

Federal Agencies


Others





as of June 30, 2014





ASSETS

Current Assets:









Deposits - Other



Noncurrent Assets:










TOTAL ASSETS3,242,8523,041,2612,480,529256,7522,122,798






LIABILITIES




Due to State-









Bonds Payable--10,5802,01123,687









Bonds Payable--80,63033,036672,205














NET POSITION


Restricted:

Nonexpendable:

Endowment--1,196,686-97

Expendable:

Endowment--380,075-11,931

Loans36,31735,853---



Other654,866589,690326,610--

Unrestricted148,569119,303150,715146,174898,459














Chart1

State Appropriation (Noncapital)


Federal, State and Local Grants and Contracts

Other Grants, Contracts, Gifts and Transfers from Component Units

Investment Income (Net)

Auxiliary Sales and Other

Federal and State Student Financial Aid

643570

522444

431518

1006816

29335

181245

115755




UF%



Federal, State and Local Grants and Contracts$ 431,51814.7%

Other Grants, Contracts, Gifts and Transfers from Component Units$ 1,006,81634.4%




Total2,930,683

Less Income Before Other Revenues, Expenses, Gains, or Losses

NetMatches "People and Space" Expenses




Expenses UF Only

Expenses - FY14


2015SourceGASB Type


Service and Supplies$ 490,580AFROperating and Nonoperating

Space - Utilities and Communication$ 67,727AFROperating





CW = Crosswalk

Expenses UF Only


[], [], []

UF B

UDG

ETS

2015-2016 State Appropriations

$1,004.9M

General Revenue $601.8M

Lottery $63.4M

Student Tuition $339.7M

UF B

UDG

ETS

2015-2016 State Appropriations

$1,004.9M

Educational and General $697.3M

Health Science Center $149.6M

Institute for Food andAgricultural Sciences $158.0M

UF B

UDG

ETS

Budget-based funds Budget allocations funded from State Appropriations

(including student tuition and fee revenue) Made in lump-sum amounts by the University Budget

Office as determined by the CFO to the appropriate Vice Presidents and Deans

Allocations may be further allocated to departments and divisions by these vice presidents and deans

Cash-based funds Available operating budget amounts are based on

beginning cash balances, plus revenue, less expenditures

With cash-based funding sources, the funds can be spent only when the “cash” has been obtained

See slide of Sources (Different color fonts)

Budget-based funds vs. Cash-based funds

UF B

UDG

ETS

Responsibility Centered Management (RCM) Budget Model

The fundamental basis of the RCM model is to move decisions and resulting revenues and expenses to the responsibility centers and to create transparency in the budget process.

The model is intended to create incentives for entrepreneurial behavior at the unit level. Revenues from entrepreneurial activities are retained entirely by those units undertaking such entrepreneurial risks.

Support unit cost assessments are paid on all expenditures. All revenues are allocated to responsibility centers. Therefore, responsibility centers must pay for the services provided to them through an allocation or assessment system.

UF B

UDG

ETS

SU Budgets – Fall

Auxiliaries – Spring (final approval)

Colleges – Late Spring (dependent on State Legislature)

BOT Approval – Final and upcoming FY – June BOT meeting

All Funds Budget – July 15

BOG Submission - August

Timeline

UF B

UDG

ETS Human Resources, Finance and Accounting, Facilities Planning and Construction, Business Affairs, Police Dept. etc.

Review and Approval – CFO Office – Executive Council

Calculation of Administrative OH –

$313m – 1/2 Auxiliary, Other; 1/2 Colleges

GA/IT – 10% of College revenues and 12.75% of Auxiliary and Other expenses (annualized 18 mo. lookback)

Facilities - $10 sq. ft.

HSC OH – 2.15% of expenses

Specials – 1.1% of FPP expenses; 1.6% of IFAS/REC expenses; 0% for subcontracts >$25k; etc.

Support Unit (SU) Budgets

UF B

UDG

ETS New model for FY 2016-2017 Transparent, predictable, simple (simpler)

Allocation of Revenue Collected Tuition and Fees + General Fund

Supplement – Administrative OH = Spendable Resources State Appropriation used to supplement the cost of

instruction – Tuition and Fees doesn’t cover all costs Tuition and Fees allocated 70% to Teaching College and

30% to College of Enrollment OH – 10% of revenues + $10 per square foot of space +

2.15% of revenues for 6 HSC Colleges

College Budgets

UF B

UDG

ETS

Each College/Unit has a Budget Manager Allocation to Departments/Units College Service Centers (Entrepreneurial operations)

– CJC Agency; COM Powell Gene Therapy Center Contracts and Grants Cash-Based

CU $ ROH/Residuals Incidental Revenues

IFAS Research and Extension – separate State Appropriations (academic mission funded in College budget)

Decentralized Processes

UF B

UDG

ETS

Auxiliary – Housing; Transportation and Parking; O’Connell Center

Student Fee based operations – Student Health Care Center (hybrid); Student Government

State funded centers – Bureau of Economic Research (BEBR); Animal Care Services; Florida Museum

Other Budgets

UF B

UDG

ETS

Separate governing boards and approvals

UF Health Shands Gainesville and Jacksonville

FCPA

UAA/Gator Boosters

UFF/Alumni Association

UFRF

DSO/Affiliates – Component Units

UF B

UDG

ETS Positions loaded in Spring from MyUFL (ERP System) Control Totals for General revenue sources and Support

Units provided to Colleges and Support Units (SU) Budgets input by Colleges and SU to agree to Control

Totals – Salaries, OPS, Other Expense (OE) Budgets uploaded from Hyperion to MyUFL – MyUFL

has “Commitment Control” which controls expenses to available budget

All Funds Budget loaded by Colleges, SU, Auxiliaries, Others for all sources of funds into Hyperion

All Funds Budget used to create budget approved by BOT and submitted to State

Units input positions for other funding sources into MyUFL

Hyperion Budget Preparation Tool

UF B

UDG

ETS

Mike McKeeVice President & Chief Financial OfficerUniversity of Florida

[email protected]

Questions?

UF BudgetsUF BudgetsUF BudgetsUF BudgetsUF BudgetsUF BudgetsUF BudgetsUF BudgetsUF BudgetsUF BudgetsUF BudgetsUF BudgetsUF BudgetsUF BudgetsUF BudgetsUF BudgetsUF Budgets

uf budgets - cfo.ufl.edu · colors of money at uf. uf b. udgets. uf enterprise revenue sources...

Documents