SSU BUDGET 101 Financial Briefing Sonoma State University Presented by Laurence Furukawa-Schlereth CFO and Vice President for Administration and Finance, Sonoma State University Sonoma State University November 21, 2013

Composition of the SSU Budget 2012-2013 General Fund $ 88,722,159 45.5% Capital Budget $ 39,614,521 20.3% Grants and Contracts $ 9,140,000 4.7% Housing $ 25,217,590 12.8% Extended Education $ 6,177,735 3.2% Parking $ 2,173,444 1.1% Instructionally Related Activities $ 3,464,794 1.8% Health Center & CAPS $ 2,870,266 1.5% Auxiliary Corporations Associated Students $ 2,169,729 Student Union $ 3,897,330 2.0% Sonoma State Enterprises $ 11,217,222 5.8% Foundation General Fund Foundation Asset Management: $43,988,698 $ 187,000 0.1% TOTAL $194,851,790 100%

Composition of the SSU Budget 2012-2013 General Fund $ 88,722,159 45.5% The General Fund represents the largest source of revenue available to the campus and includes: Resources from Tax Appropriation $ 44,186,283 Funds generated from student and other fees $ 44,064,500 Discretionary dollars from the California Lottery $ 471,376 Resources from Trustees $51,085,673 Discretionary dollars from the California Lottery $579,376 Funds generated from student and other fees $34,602,137

Composition of the SSU Budget 2012-2013 Capital Budget $ 39,614,521 20.3% Revenues are obtained through both the sale of tax exempt bonds by the State of California, private donations, and auxiliary corporations. Bond covenants restrict capital dollars to the specific construction project for which the bond was issued. The campus is reimbursed for overhead costs. The 2012-2013 capital budget included these projects: Student Center, Mechanical/Lighting Renewal, Design for Commons/Pavilion GMC PHASE III (Rehearsal and Activities Rooms 1029 and 1028, GMC front lawn landscaping, Hospitality Center Wedding Lawn) $1.3M STUDENT CENTER (A&E, Add Services Nos. 6-14) $104,750 GMC PHASE IV (Concert Hall Chairs, Theatrical Lighting and AV system) $2.5M ENERGY PROJECTS – STATE FUNDED (PE Main Pool VFD Drive, Well No. 3 Pump, Building Metering) $400,000 CAPITAL RENEWAL NONE IN 09/10 CLASSROOM RENOVATIONS MINOR CAPITAL OUTLAY Three sources of funds: State Capital Outlay Bonds Non-State Capital Outlay Bonds Gift money In CSU – 7% of construction charged for project management

Composition of the SSU Budget 2012-2013 Grants and Contracts $ 9,140,000 4.7% SSU divides grants and contracts activity into three areas: Grants related to the Anthropological Studies Center with an overall grants volume of $1,420,000. Grants directly related to the research program of the campus faculty with an overall grants volume of $4,675,000. Grants related to student outreach and public service with an overall grants volume of $3,045,000. Resources are restricted to the specific grant or contract. The campus is reimbursed for overhead costs via Indirect Cost Recovery (IDC).

Composition of the SSU Budget 2012-2013 Housing $ 25,217,590 12.8% Resources are restricted to the SSU Housing Program. The campus is reimbursed for overhead costs.

Composition of the SSU Budget 2012-2013 Extended Education $ 6,177,735 3.2% The campus is reimbursed for overhead costs. Net income over expense is used to further support the ongoing activities of Extended Education. Hold LLI Endowment with market value of

Composition of the SSU Budget 2012-2013 Parking $ 2,137,444 1.1% Resources are restricted to the SSU Parking and Transportation program. The campus is reimbursed for all overhead costs. 5,348 parking spaces L,M,N,O & entrance to campus & new bridge - Part of 2000 Master Plan revision and need for additional parking Parking prices discussed by Fee Advisory Committee

Composition of the SSU Budget 2012-2013 Instructionally Related Activities $ 3,464,794 1.8% Resources are generated via a mandatory student fee for the Instructionally Related Activities (IRA) program. Budget recommendations are developed by the Fee Advisory Committee. Revenues from mandatory student fee Supports activities related to but not essential to the curriculum

Composition of the SSU Budget 2012-2013 Health Center & CAPS $ 2,870,266 1.5% Both the Health Center and CAPS are funded by mandatory student fees. The campus is reimbursed for overhead costs. Revenues from mandatory student fee Supports activities related to but not essential to the curriculum

Composition of the SSU Budget 2012-2013 Associated Students Inc. $ 2,169,729 1.1% The Associated Students budget is developed by its Board of Directors. The campus is reimbursed for overhead costs. Operates the Children’s School Budget approved by AS Audited

Composition of the SSU Budget 2012-2013 Student Union Corporation $ 3,897,330 2.0% The Student Union budget is developed by its Board of Directors. The campus is reimbursed for overhead costs. *The Student Union Program is a separate entity from the Student Union Corporation Debt related to Rec Center SRB issuance and funded by mandatory student fee Owns Children’s School building

Composition of the SSU Budget 2012-2013 Sonoma State Enterprises $ 11,217,222 5.8% SSE’s budget is developed by its Board of Directors. The campus is fully reimbursed for all overhead costs. Debt to SSUAF relates to portion of Salazar Hall (loan refinanced in 2006 at 7% for 20 years)

Composition of the SSU Budget 2012-2013 Foundation $ 187,000 0.1% Foundation General Fund $ 187,000 Foundation Total Assets $ 43,988,698 Resources are obtained from private gifts and earned interest. Budget recommendations are made in accordance with donor intent. Administration and Finance operates the Foundation without reimbursement in recognition of the contributions made by the Foundation to the SSU academic program. Approximately $32M of total net assets relates to GMC

Audit Activity SSU BUDGET 101 SSU Academic Foundation Associated Students Sonoma State Enterprises Sonoma Student Union A-133 (Financial Aid, Grants & Contracts, Federal Funds) FISMA - every 2 years Auxiliary Audit – every 3 years

Composition of the SSU Budget 2012-2013 General Fund $ 88,722,159 45.5% Capital Budget $ 39,614,521 20.3% Grants and Contracts $ 9,140,000 4.7% Housing $ 25,217,590 12.8% Extended Education $ 6,177,735 3.2% Parking $ 2,173,444 1.1% Instructionally Related Activities $ 3,464,794 1.8% Health Center & CAPS $ 2,870,266 1.5% Auxiliary Corporations Associated Students $ 2,169,729 Student Union $ 3,897,330 2.0% Sonoma State Enterprises $ 11,217,222 5.8% Foundation General Fund Foundation Asset Management: $43,988,698 $ 187,000 0.1% TOTAL $194,851,790 100%