FINANCIAL STATEMENT VS. OPERATING BUDGET

FY 21 Actuals and FY 21 Budget
Stony Brook University is a large and complex organization with many budgets to manage, each with their own nuances. This graph simplifies accounting and financial requirements in order to provide clarity to various aspects of our finances, which can be difficult to understand. It shows Stony Brook’s FY21 budgeted funding in plain text and actual funding in bold.

Please note that total operating revenue does not include the portions of our state support paid directly by New York State (NYS) on our behalf, such as payments for State debt service and State fringe benefits (e.g., health care and retirement for faculty and staff).  Debt service and fringe benefits that are assessed locally and funded by the University are included in the above figures. The SUNY financial statements for SBU do not address — for a variety of accounting and legal reasons — the $666 million in our FY21 operating actuals that supports our Clinical Practice.

SOURCE OF FUNDS

FY21 $3.4 Billion Operating Budget vs. $3.6 Billion Actuals
These charts compare budgeted funding and actual funding across the institution during the 2020/21 financial year (FY21).

Uncertain of COVID-19’s trajectory and its impacts, we budgeted conservatively for FY21. We also implemented refinements to financial reporting methodologies to better reflect the totality of funds in research, Income Fund Reimbursable (IFR) & State University Tuition Reimbursable Account (SUTRA) and Stony Brook Foundation (SBF) and more precisely align budget and actuals. These reporting improvements, coupled with an additional $30.5 million in federal aid, result in FY21 Actual funding exceeding the FY21 Budget by nearly $200 million.

When combined with the fiscal diligence of our campus community, FY21 funding not only outpaced the budget, but outpaced institution-wide costs, creating one-time fund balances that will be strategically invested to further the goals of the institution.

ACADEMIC AND RESEARCH SOURCE OF FUNDS

FY21 $918 Million Budget vs. $1.2 Billion Actuals
Actual funding for academic and research operations totaled $1.2 billion, exceeding the budgeted amount by $239 million. This increase was driven in part by the refinements to reporting methodologies to better reflect the totality of funds in research, IFR+SUTRA and SBF, coupled with an additional $30.5 million in unanticipated federal support through the Coronavirus Response and Relief Supplemental Appropriations Act (CRRSSA), the addition of Other Research Foundation Activities which realized a gain on research foundation investments in FY21, and the out performance of the conservatively budgeted expectation in nearly every category.

Based on SUNY guidance we received in FY20, we anticipated state tax support to decrease by $25 million in FY21, reducing the annual support SBU receives from $147.7 million to $122.4 million. Fortunately, all but $6.3 million was reinstated in FY21. The annual support amount has been restored to its previous level ($147.7 million) for FY22 and for the foreseeable future.

The most notable change between the budget and actuals displayed in this chart, IFR & SUTRA, was largely due to a change in reporting methodology as we transitioned to the “All-Funds Budget'' approach. The FY21 actuals are stated on a budgetary basis, reflecting funding and costs at gross rather than net of SUNY funds. Similar changes were made to the Stony Brook Foundation (SBF) Support and SBF Agency Funds.

HOSPITAL AND CLINIC PRACTICES SOURCE OF FUNDS

FY21 $2.5 Billion Budget vs. $2.5 Billion Actuals
Despite the uncertainty of COVID-19, the hospital and clinical practices budget was relatively consistent with the actuals, both totaling $2.5 billion. Some functions, like the Clinical Practices, generated revenue at a higher level than anticipated while others, such as the Long Island Veterans Home, operated at a loss in FY21 due to COVID-19 impacts.

In the FY21 actuals, Hospital Revenue was separated to show revenue generated at each of the three hospital locations—Stony Brook University, Southampton, and Eastern Long Island. There was also a significant increase in Hospital Government Payments when compared to the budgeted amount due to the inclusion of a pool of Medicaid dollars made available to hospitals for uncompensated care that was previously stated in the $1.7 billion Hospital Revenue budget. The total actual revenue of all three hospitals was roughly $52 million below budgeted levels.

FINANCIAL STATEMENT VS. OPERATING BUDGET

FY21 Budget and FY21 Actuals
The graph simplifies accounting and financial requirements to provide clarity to various aspects of our finances, which can be somewhat difficult to understand across such a large and complex organization.  This geographic chart shows Stony Brook’s costs in terms of financial statements vs. operating budgets. It depicts FY21 budgeted costs in plain text and actual costs in bold.

COSTS BY DIVISION

FY21 $3.5 Billion Operating Budget vs. $3.4 Billion Actuals
These charts compare budgeted and actual costs by division across the entire institution in FY21. Recall that we budgeted conservatively for FY21, uncertain of COVID-19's trajectory and impacts.

Through the diligence of our community, and as requested by SUNY, Stony Brook not only spent less than budgeted, but spent less than was received in funding, resulting in a net positive for FY21. This fiscally responsible behavior during a time of great uncertainty has resulted in fund balances that will be reinvested in our strategic initiatives.

COSTS BY EXPENSE TYPE

FY21 $3.4 Billion Operating Budget vs. $3.4 Billion Actuals
These charts show FY21 costs by type of expense across the organization, comparing the budgeted and actual costs. Actual Salary & Wages accounts for the majority at 61% of the total institution-wide costs.

Other accounts for 9% of the FY21 actuals and includes but is not limited to: license fees, mail and messenger services, printing and graphics, advertising and promotional expenses, general and administrative expenses, telephone expenses, and depreciation for full accrual healthcare entities.

The following three charts show the breakdown of costs by division in the academic and research operations, including breakouts of the Stony Brook Foundation Support and University Administration. The largest areas are Provost/Academic Affairs, Sponsored Research, and University Administration.

ACADEMIC AND RESEARCH COSTS BY DIVISION

FY21 $977 Million Operating Budget vs. $1.0 Billion Actuals
While most divisions’ actual costs were relatively similar to the FY21 budget, Campus Residences and Athletics saw decreases due to COVID-19 restrictions. Changes to SBF Agency Funds and Stony Brook Foundation Support were largely due to a change in reporting methodology to better align budget and actuals.

UNIVERSITY ADMINISTRATION COSTS

FY21 $171 Million Budget vs. $165 Million Actuals
The University Administration category includes much of the general operating costs for the university, including $29.5 million for Utilities and $30.6 million for Facilities, Operations & Safety. Some categories, like University Administration, Diversity and Legal Compliance, experienced fluctuations due to the reclassification of expenses rather than actual changes in spending.

STONY BROOK FOUNDATION COSTS

FY21 $41 Million Operating Budget vs. $60 Million Actuals
Annually, the Stony Brook Foundation provides support to the operating budget. The SBF support reflected above includes external philanthropic support but does not include the $26.6 million in actual expenses we have categorized as SBF Agency Funds elsewhere. SBF Agency Funds represent pass-through funds owned by the university and invested by the Stony Brook Foundation on the university’s behalf. Given the unpredictable nature of COVID-19 in 2020-21, the FY21 budget was difficult to forecast, as past history was no longer a reliable indicator of future expenditures.

ACADEMIC AND RESEARCH COSTS BY EXPENSE

FY21 $977 Million Operating Budget vs. $1.0 Billion Actual
These charts show academic and research operations costs by type of expense. Salary & Wages accounts for 61.5% of the FY21 actuals, followed by Other (15.8%), and Student Aid (7.4%). While Salary & Wages and Student Aid actuals are comparable to the budget, Other increased due to the transition to the “All-Funds Budget” model. The FY21 actuals include items such as $64 million of costs associated with Research Fund Activities that were previously not included in the FY21 budget. Other includes but is not limited to Stony Brook Foundation indirect costs of practice, expense transfers, and subawards.

HOSPITAL AND CLINIC PRACTICES BY EXPENSE

FY21 $2.6 Billion Operating Budget vs. $2.4 Billion Actuals
This chart shows hospital and clinic practice operations by type of expense. Salary & Wages accounts for 61.0% of the FY21 actuals, followed by Contractual Services (16.6%), Clinical Practice Supplies (13.1%), and Other (6.7%).