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pdfTHIS SURVEY HAS NO NEW CHANGES AND IS NOT
SUBJECT TO CHANGE. THE FULL CONTENT OF THIS
DOCUMENT HAS BEEN PREVIOUSLY APPROVED ON
DEC 2013. THIS COLLECTION IS CURRENTLY OPEN.
Finance
Integrated Postsecondary Education Data System
(IPEDS)
This IPEDS Finance data collection instrument was used during the
2014-15 data collection and will be used again during the 2015-16 data
collection. These institutions will not have any changes (non GASB institutions).
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IPEDS Help Desk
(877) 225-2568 or [email protected]
NCES National Center for Education Statistics
2015-16 Survey Materials > Form
date: 8/4/2015
Finance for degree-granting private, for-profit institutions
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.
There are no new changes to the 2015-16 Finance data collection. However, a new FAQ clarifying how to report VA
education benefits has been added for all institutions. For GASB institutions, instructions for parts J,K,L have been
slightly modified for clarity and new FAQs have been added referencing implementation of GASB Statements 67 & 68
and parts J,K,L.
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.
Finance - Private for-profit institutions
FASB-Reporting Institutions
General Information - Fiscal Year and Audit
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 Calendar
This 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, 2015.)
Beginning: month/year (MMYYYY)
Month:
Year:
And ending: month/year (MMYYYY)
Month:
Year:
2. Audit Opinion
Did 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.)
Unqualified
Don't know (Explain in box
Qualified (Explain in box
below)
below)
3. Does your institution account for Pell grants as pass through transactions (a simple payment on the
student's account) or as federal grant revenues to the institution?
Federal grant revenue
Does not award Pell grants
Pass through
(agency)
4. What type of business structure is the institution for tax purposes?
Sole Proprietorship
Partnership (General, Limited, Limited Liability)
C Corporation
S Corporation
Limited Liability Company (LLC)
You may use the space below to provide context for the data you've reported above.
Part F - Income Tax Expenses
Most recent fiscal year ending before October 2015
If the institution reported its business structure is a C Corporation or Limited Liability Company (LLC), it will report
amounts for the following income tax expenditure categories:
Line No.
Current year amount
Prior year amount
Income Tax Expenses
01
Federal income tax expenses
02
State and local income tax expenses
03
Please designate who paid the reported tax expenses for your institution:
Taxes were aggregate amounts paid by the multi-institution or multi-campus organization indicated in IC
Header for all associated institutions
Taxes were aggregate amounts paid by a multi-institution or multi-campus organization NOT indicated in IC
Header for all associated institutions
Taxes were amounts paid by the reporting institution
You may use the space below to provide context for the data you've reported above.
Part A - Balance Sheet Information, Page 1
Most recent fiscal year ending before October 2015
If your institution is a parent institution then the amounts reported in Parts A and B should include ALL of your
child institutions.
Line
no.
01
Assets, Liabilities, and Equity
Current year amount
Assets
Total assets
01a Long-term investments
01b Property, plant, and equipment, net of accumulated
depreciation
01c Intangible assets, net of accumulated amortization
02
Liabilities
Total liabilities
02a Debt related to property, plant, and equipment
Equity
Total equity
CV = (A01 - A02)
04 Total liabilities and equity
CV = (A02 + A03)
You may use the space below to provide context for the data you've reported above.
03
Prior year amount
Part A - Balance Sheet Information, Page 2
Most recent fiscal year ending before October 2015
If your institution is a parent institution then the amounts reported in Parts A and B should include ALL of your
child institutions.
Line
Plant, Property and Equipment
no.
05 Land and land improvements
06
Buildings
07
Equipment, including art and library collections
08
Construction in Progress
09
Other
10
Total Plant, Property, and Equipment
CV=[(A05+...A09)]
Accumulated depreciation
11
12
Property, Plant, and Equipment, net of accumulated depreciation
(from A1b)
Ending balance
Prior Year Ending
balance
Part B - Summary of Changes in Equity
Most recent fiscal year ending before October 2015
Line No.
Revenues, Expenses, Gains, and Losses
Current year amount
01
Total revenues and investment return
02
Total expenses
03
04
Sum of specific changes in equity
CV=[B04-(B01-B02)]
Net income
05
Other changes in equity
06
Equity, beginning of year
07
Adjustments to beginning net equity
CV=[B08-(B04+B05+B06)]
08
Equity, end of year (from A03)
You may use the space below to provide context for the data you've reported above.
Prior year amount
Part C - Scholarships and Fellowships
Most recent fiscal year ending before October 2015
DO NOT REPORT FEDERAL DIRECT STUDENT LOANS (FDSL) ANYWHERE IN THIS SECTION
Line No.
Scholarships and Fellowships
01
Pell grants (federal)
02
Other federal grants (Do NOT include FDSL amounts)
03a
State and local grants (government)
State grants
03b
Local grants (government)
04
Institutional grants
05
Total scholarships and fellowships
CV=[C01+...+C04]
06
Allowances (scholarships) applied to tuition and fees
07
Current year amount
Allowances (scholarships) applied to auxiliary enterprise
revenues
You may use the space below to provide context for the data you've reported above.
Prior year amount
Part D - Revenues and Investment Return
Most recent fiscal year ending before October 2015
Line No.
Source of Funds
01
Tuition and fees (net of amount reported in Part C, line 06)
02a
Government Appropriations, Grants and Contracts
Federal appropriations
02b
Federal grants and contracts (Do not include FDSL)
03a
State appropriations
03b
State grants and contracts
03c
Local government appropriations
03d
Local government grants and contracts
04
Private gifts grants and contracts
Private gifts grants and contracts
05
06
07
12
08
09
10
11
Current year amount Prior year amount
Other Revenue
Investment income and investment gains (losses) included in net
income
Sales and services of educational activities
Sales and services of auxiliary enterprises
(net of amount reported in Part C, line 07)
Hospital revenue
Other revenue
CV=[D09-(D01+...+D07+D12)]
Total revenues and investment return (from B01)
12-month Student FTE from E12
Total revenues and investment return per student FTE
CV=[D09/D10]
You may use the space below to provide context for the data you've reported above.
Part E - Expenses by Function
Most recent fiscal year ending before October 2015
Report Total Operating AND Non-Operating Expenses in this section
Line Expenses by
No. Functional
Classification
(1)
Total
amount
(2)
(3)
Salaries
Benefits
and wages
(4)
(5)
(6)
Operation
Depreciation Interest
and
maintenance
of plant
(7)
(8)
All PY
other Total
Amount
01 Instruction
02a Research
02b Public service
03a Academic support
03b Student services
03c Institutional support
04 Auxiliary enterprises
05 Net grant aid to students
(net of allowances for
tuition & fee and
auxiliary enterprises)
10 Hospital services
11 Operation and
0
maintenance of plant
(see instructions)
06 Other expenses
CV=[E07-(E01+...+E11)]
07 Total expenses
0
(from B02)
Prior year total
expenses
08 12-month Student FTE
from E12
09 Total expenses per
student FTE
CV=[E07/E08]
You may use the space below to provide context for the data you've reported above.
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IPEDS Help Desk
(877) 225-2568 or [email protected]
NCES National Center for Education Statistics
2015-16 Survey Materials > Instructions
date: 8/4/2015
Finance for degree granting private, for-profit institutions
Purpose of Component
Changes in Reporting for 2015-16
General Instructions
Reporting Period Covered
Context Boxes
Coverage
What to Include
What Not to Include
Reporting with "Parent" and "Child" Relationships
Where to Get Help for Reporting
Where to Get Additional Help for Finance
Where the Reported Data Will Appear
Detailed Instructions
General Information
Part F: Income Tax Expenses
Part A: Balance Sheet Information
Part B: Summary of Changes in Equity
Part C: Scholarships and Fellowships
Part D: Revenues and Investment Return
Part E: Expenses by Functional and Natural Classification
Purpose of Component
The purpose of the IPEDS Finance component is to collect basic financial information from items associated with the
institution’s General Purpose Financial Statements (GPFS). Item areas include:
•
•
•
•
•
•
Income Tax Expenses (if applicable)
Balance Sheet Information
Summary of Changes in Equity
Scholarships and Fellowships
Revenues and Investment Return
Expenses by Functional and Natural Classification
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Changes in Reporting
There are no new changes to the 2015-16 Finance data collection from the 2014-15 collection. However, a new FAQ
clarifying how to report VA education benefits has been added for all institutions. Moreover, instructions to Part F: Tax
Expenses have been slightly modified to improve clarity.
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General Instructions
Reporting Period Covered
The starting point for reporting should be amounts reported in the GPFS for the most recent fiscal year ending
before October 1, 2015. For institutions with fiscal years ending on December 31, this would be the calendar year
2014.
About the Data
Data providers for this component should be familiar with college and university accounting policies and practices as
described by the National Association of College and University Business Officers (NACUBO). To provide additional
help, accounting terms are underlined and linked to definitions found in the online glossary.
Four different types of data appear in this component. There are data:
•
•
•
•
Institutions provide from their GPFS and/or underlying records.
That are prior year data, shown in red, which can be used as a comparison with the current year's data being
reported.
That are carried forward from one part of the component to another part to insure that the data are internally
consistent.
Calculated from the other data elements.
In the latter two cases, the data provider is requested to check that the carried forward data and the calculated data
are consistent with the data found in the institution's GPFS. If the data carried forward or calculated are not consistent
with the institution's GPFS, then an error in data entry may have occurred.
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Context Boxes
Context boxes are provided to allow institutions to provide more information regarding survey component items. Note
that some context boxes are posted on the College Navigator Website, which is the college search tool offered by
NCES. NCES will review entries in these context boxes for applicability and appropriateness before posting them on the
College Navigator Website; institutions should check grammar and spelling of their entries.
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Coverage
What to Include
The reporting entity's financial accounting policies and procedures should be the beginning basis for reporting to this
IPEDS survey component. However, deviations from the GPFS may be required to respond to this IPEDS survey
component. Some of these deviations include:
•
•
•
•
•
If financial categories in the institution’s GPFS are more aggregated than required for this IPEDS survey
component, then use underlying institutional records to determine the necessary amounts.
If financial categories in the institution’s GPFS are more detailed than required, then combine the GPFS
amounts and report only the combined number for this IPEDS survey component.
If amounts are reported in categories in the GPFS that differ from those required for the IPEDS survey, move
those amounts to the IPEDS-requested categories.
Report all financial amounts in WHOLE DOLLARS only, omitting cents.
For any item on the survey component where exact data do not exist in the GPFS, please give estimates.
What NOT to Include
Do not report any projected amounts for future years. Do not make adjustments for prior-year corrections unless they
are included as such corrections in the GPFS.
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Additional Instructions for Institutions Reporting Finance Data for Other Institutions
Most degree-granting institutions reporting IPEDS data report all their data for each IPEDS component, including this
finance component. However, some institutions (called “children”) are set up to report only certain parts of the IPEDS
finance component, while the “parent” institution reports all portions of the finance component but does not double
count those items already reported by the children institutions. Here is what each type of institution should report:
Part
Part
Part
Part
Part
Part
Part
A – Balance Sheet
F – Income Taxes
B – Summary of Change in Equity
C – Student Scholarships and Fellowships
D – Revenues and Investment Return
E – Expenses by Function
Parent Institution
Reports sum of Parent and Child data
Reports sum of Parent and Child data
Reports sum of Parent and Child data
Reports parent data only
Reports parent data only
Reports parent data only
Child Institution
Does not report
Does not report
Does not report
Reports child data only
Reports child data only
Reports child data only
Parent institutions should report the sum of Parent and Child data for Parts A and B, and should report Parent data
only in parts C, D and E. This is done so that student grants, revenues and investment return, and expenses by
function are not double counted by Parent and Child institutions.
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Where to Get Help with Reporting
IPEDS Help Desk
Phone: 1-877-225-2568
Email: [email protected]
Web Tutorials
You can also consult the IPEDS website which contains several tutorials on IPEDS data collection, a self-paced
overview of IPEDS tools, and other valuable resources.
IPEDS Resource Page
The IPEDS Resource Page (located on the IPEDS homepage) contains frequently asked questions, a link to the IPEDS
Glossary, data tip sheets, an archive of survey instruments, information on the race/ethnicity categories, and other
valuable information.
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Where to Get Additional Help for Reporting Finance on this Component
There may be places on and off your campus to get assistance in reporting.
Assistance on campus
Although institutions may be organized in different ways and use different titles for offices, an office on your campus
that might help you to report data on this survey component might be called:
•
•
•
•
•
•
•
Office of the Chief Financial Officer
Office of Administration and Finance
Office of Finance
Office of Budget
Office of Financial Services
Office of the Comptroller (or Controller)
Office of Accounting
Assistance off campus
Additional references may be found in the National Association of College and University Business Officers’ (NACUBO)
Financial Accounting and Reporting Manual (FARM) which is available online. Additional information may be found at
the NACUBO website (www.nacubo.org). Someone at your institutions in one or more of the offices listed above may
already have access to the FARM.
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Where the Reported Data Will Appear
Data collected through IPEDS will be accessible at the institution- and aggregate-levels.
At the institution-level, data will appear in the:
•
•
•
•
College Navigator Website
IPEDS Data Center
IPEDS Data Feedback Reports
College Affordability and Transparency Center Website
At the aggregate-level, data will appear in:
•
•
•
•
•
IPEDS First Looks
IPEDS Table Library
IPEDS Data Feedback Reports
The Digest of Education Statistics
The Condition of Education
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Detailed Instructions
This section provides line-by-line instructions for each Part of the Finance Component.
In the instructions, numbers found in parentheses at the end of each line provide additional reference to paragraphs in
the National Association of College and Universities' Business Officers' (NACUBO) Financial Accounting and Reporting
Manual (FARM). There are also some references to the Statement of Financial Accounting Standards (SFAS).
General Information
Fiscal Year: Enter the beginning and ending dates of the period covered for the reported financial data. If the period
is not a full 12-month year, explain in the context box below why a 12-month period was not included.
Audit Opinion: Check the appropriate box to indicate if the GPFS received an unqualified opinion from your auditors.
A "qualified opinion" occurs when the auditor includes exceptions to the opinion that "The financial statements present
fairly, in all respects, the financial position as of (date) and the results of the operations for the year ended, in
conformity with accounting standards generally accepted in the United States." When no such exceptions are included,
the opinion is considered "unqualified." If “qualified” is checked, please note in the context box the nature of the
qualification. If the statements have not been audited, please check “Don’t know” and note in the context box that the
GPFS are unaudited.
Pell Grants: Indicate whether the institution accounts for Pell grants as pass-through payments or as federal revenue.
If the institution does not award Pell grants, select the applicable option.
Institutions that do receive Pell grants have the option to report Pell grants either as:
•
Federal revenue and allowance to tuition and fees and/or auxiliary enterprises (for room and board, books,
meals, etc.). If the Pell grant is counted as federal revenue, then there should be an offsetting
discount/allowance to tuition and fees revenue and/or auxiliary enterprise revenue so that the Pell grants are
not being double counted in the institution’s revenues. It is rare that private-for-profit institutions to treat Pell
grants this way. Do not choose this option unless you are absolutely certain it's correct.
•
As a pass-through transaction. A pass-through transaction is essentially a payment on the student’s account
where the institution is purely processing the Pell Grant and those monies are not counted by the institution
until they come in as a tuition payment from the student. This option is sometimes referred to as an agency
transaction. With this option Pell grants are not counted as federal revenues and are not considered to be a
discount/allowance to tuition and fees or auxiliary enterprises.
OR
Business Structure: Check the appropriate box to indicate the institution’s business structure for tax purposes. If
either a C Corporation or a Limited Liability Company (LLC) business structure is selected, the institution will be
required to report “Federal” and “State and Local” income tax expenditures in Part F.
Please note that regardless of how Pell grants are treated for revenues or expenses they should still be
reported in Part C: Scholarships and Fellowships under Pell grants.
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Part F – Income Tax Expenses
This section is only applicable to those institutions that have either a C Corporation or a Limited Liability Company
(LLC) business structure. The institution should follow the Basic Principles for Income Tax Accounting, as outlined in
FASB SFAS 109.
01 – Federal – Report the sum of the current Federal tax expense (or benefit) and deferred Federal tax expense (or
benefit).
02 – State and Local – Report the sum of the current State and Local tax expense (or benefit) and deferred State
and Local tax expense (or benefit).
Negative income tax expenditures may occur as a result of:
•An increase in the net deferred tax asset at the end of the fiscal year
•A decrease in the net deferred tax liability at the end of the fiscal year
03 – Tax Structure - Please designate who paid the reported tax expenses for your institution:
•
•
•
Taxes were aggregate amounts paid by the multi-institution or multi-campus organization indicated in ICHeader for all associated institutions. This option is applicable if the reported income tax expenses in Part F are
amounts paid by the multi-institution or multi-campus organization indicated by your institution in Part B of
the IC-Header component. The aggregate amounts are tax expenses paid by the organization for all
institutions that it owns, governs, or controls.
Taxes were aggregate amounts paid by a multi-institution or multi-campus organization NOT indicated in ICHeader for all associated institutions. This option is applicable if the reported income tax expenses in Part F are
amounts paid by a multi-institution or multi-campus organization that was not indicated in Part B of the ICHeader component, which can include a subsidiary of the organization indicated in IC-Header. The aggregate
amounts are tax expenses paid by the organization for all institutions that it owns, governs, or controls.
Taxes were amounts paid by the reporting institution. This option is applicable to institutions, including those
in IPEDS parent/child relationships, that do not belong to a multi-institution or multi-campus organization. The
reported amounts are tax expenses paid by the institution.
A multi-institution or multi-campus organization includes organizations with two or more institutions or campuses. Non
-postsecondary education agencies that govern or control institutions include, but are not limited to, public school
districts, art organizations, hospitals and other medical/health organizations.
Do not include:
•
•
•
coordinating systems
single institution owner
single institution corporate name
•
•
•
•
single institution governing board
consortia
associations
religious affiliation
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Part A – Balance Sheet Information, Page 1
This part is intended to report institutional assets, liabilities, and equity.
Financial data should agree with the GPFS.
01) Total Assets – Enter the amount from your GPFS which is the sum of:
a) Cash, cash equivalents, and temporary investments;
b) Receivables, net (net of allowance for uncollectible amounts);
c) Inventories, prepaid expenses, and deferred charges;
d) Amounts held by trustees for construction and debt service;
e) Long-term investments;
f) Plant, property, and equipment; and,
g) Other assets
These terms are discussed below.
a) Cash, cash equivalents, and temporary investments – Cash equivalents are short term, highly liquid
investments that are 1) readily converted to cash, and 2) so near their maturity that they present insignificant risk of
changes in value because of changes in interest rates. Examples are U.S. Treasury bills, certificates of deposit,
bankers acceptances, repurchase agreements, and commercial paper. Include amounts for currency on hand and
deposits held by financial institutions that can be added to or withdrawn without limitation, such as demand deposits.
b) Receivables, net (net of allowance for uncollectible amounts) – Include accounts receivable for all purposes,
including billings for education and general programs and auxiliary enterprise activities; student loans receivable;
government appropriations receivable; amounts receivable on grants and contracts; accrued dividends and interest
receivable; claims against vendors; advances to employees; and reimbursements receivable from affiliated
organizations. All accounts receivable should be reported net of an allowance for uncollectible accounts.
c) Inventories, prepaid expenses, and deferred charges – For inventories, include amounts for merchandise
inventory held for resale, for example, items held for sale by a bookstore or a dining service. Include supplies and
other inventoried items for internal user if recognized as an asset in the GPFS. For prepaid expenses and deferred
charges, include amounts paid in advance of services received and expenses deferred because benefits relate to future
rather than to current period activities. Examples include prepaid rent, prepaid insurance, bond issuance costs,
pension costs or other outflows applicable to future periods.
d) Amounts held by trustees for construction and debt service – Include cash and investments held by trustees
in accordance with agreements that limit expenditure of those amounts to purchase of plant, property, or equipment
or to payment of principle and interest of bonds and notes payable or other long-term debt.
e) Long-term investments – Include the amount for all assets held for long-term investment.
f) Plant, property, and equipment, net of accumulated depreciation– Include the amount for the balances of
land, buildings, equipment, and construction in progress, combined and net of accumulated depreciation.
g) Other assets – Include all other assets not reported elsewhere.
01a) Long-term investments – Enter the end-of-year market value for all assets held for long-term investments.
Long-term investments should be distinguished from temporary investments based on the intention of the organization
regarding the term of the investment rather than the nature of the investment itself. Thus, cash and cash equivalents
which are held until appropriate long-term investments are identified should be treated as long-term investments.
Similarly, cash equivalents strategically invested and reinvested for long-term purposes should be treated as longterm investments. (FARM para. 415)
01b) Property, plant, and equipment, net of accumulated depreciation – Includes end-of-year historical cost
for categories such as land, buildings, improvements other than buildings, equipment, and library books, combined
and net of accumulated depreciation. (FARM para. 415)
01c) Intangible assets, net of accumulated amortization – Report all assets consisting of certain nonmaterial
rights and benefits of an institution, such as patents, copyrights, trademarks and goodwill. The amount reported
should be reduced by total accumulated amortization. (FARM para. 409)
02) Total liabilities – Enter the amount from your GPFS which is the sum of:
a) Accounts payable;
b) Deferred revenues and refundable advances;
c) Post-retirement and post-employment obligations;
d) Other accrued liabilities;
e) Bonds, notes, and capital leases payable and other long-term debt, including current portion;
f) Government grants refundable under student loan programs; and,
g) Other liabilities.
These terms are discussed below.
a) Accounts payable – Includes the total of accounts payable to suppliers.
b) Deferred revenues and refundable advances – Includes short-term deferrals and advances including student
deposits, advances from third parties for services not yet performed, short-term advances on grants or contracts
(including those from the government), and refunds due to third parties for amounts previously received.
c) Post-retirement and post-employment obligations – Include amounts for pension obligations, post-retirement
healthcare benefit obligations, severance obligations, and similar post-retirement and post-employment obligations.
d) Other accrued liabilities – Include amounts for any accrued liabilities, including accrued interest payable, salary
and benefit (payroll) accruals, and similar accrued expenses not found in another category.
e) Bonds, notes, and capital leases payable and other long-term debt, including current portion – Include
amounts for all long-term debt obligations including bonds payable, mortgages payable, capital leases payable, and
long-term notes payable. If the current portion of long-term debt is separately reported in the GPFS, include that
amount.
f) Government grants refundable under student loan programs – Include amounts advanced to the institution
by a governmental entity for purposes of making loans to students (if recognized as a liability in the GPFS).
g) Other liabilities – Include all other liabilities not reported elsewhere.
02a) Debt related to property, plant, and equipment – Include amounts for all long-term debt obligations
including bonds payable, mortgages payable, capital leases payable, and long-term notes payable. (FARM para. 420.3,
423) If the current portion of long-term debt is separately reported in the GPFS, include that amount.
03) Total equity – The amount calculated here is important because it will be carried forward to Part B. This amount
is calculated as the difference between total assets reported on line 01 and total liabilities reported on line 02. The
calculated value should equal the amount from your GPFS which is the sum of:
a) Stock (common, preferred, treasury, etc.) and additional paid-in-capital;
b) Retained earnings; and,
c) Accumulated other comprehensive income.
These terms are discussed below.
a) Stock (common, preferred, treasury, etc.) and additional paid-in-capital – Include the amount of capital
stock and additional paid-in-capital. Include all capital stock (i.e., common, preferred, treasury) and donated capital.
b) Retained earnings – Include the amount of earnings that have not been distributed to stockholders. Retained
earnings is the portion of a corporation’s equity that represents cumulative net income, less losses and dividends.
c) Accumulated other comprehensive income – Includes the amount of cumulative comprehensive income
excluded from net income. Accumulated other comprehensive income is the company’s change in total stockholder’s
equity from all sources other than the owners of the business and net income. This includes foreign currency
translation adjustments and unrealized gains or losses on certain investments (i.e., debt or equity securities classified
as available-for-sale). (SFAS Numbers 115 and 130.)
04) Total liabilities and equity – This amount is calculated as the sum of total liabilities reported on line 02 and
total equity calculated on line 03. This amount equals total assets reported on line 01.
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Part A – Balance Sheet Information, Page 2
Property, Plant, and Equipment
Property obtained under capital leases should be reported in the categories that best describe the property, such as
equipment, buildings, etc. (FARM para. 415)
Gross Asset Amounts – The amounts on lines A05 – A09 are the total carrying amounts, without reducing the
amounts for accumulated depreciation.
05) Land and land improvements – Provide end of year values for land and land improvements as a reconciliation
of beginning of the year values with additions to and retirements of land and land improvements to obtain end of year
values. Use your underlying institutional records. <
06) Buildings – End of year values for buildings represent a reconciliation of beginning of the year values with
additions to and retirements of building values to obtain end of year values. Capitalized leasehold improvements
should be included on this line if the improvements are related to leased facilities.
07) Equipment, including art and library collections – End of year values for equipment represents a
reconciliation of beginning of the year values with additions to and retirements of equipment values to obtain end of
year values. Capitalized leasehold improvements should be included on this line if the improvements are to leased
equipment.
08) Construction in progress – Report capital assets under construction and not yet placed into service.
09) Other – Report all other amounts for capital assets not reported in lines 05-08.
10) Total Plant, Property, and Equipment – This calculated value is generated using this formula:
A10 = (A05 + . . . A09)
11) Accumulated depreciation – Report all depreciation amounts, including depreciation on assets that may not be
included on any of the above lines.
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Part B – Summary of Changes in Equity
PLEASE COMPLETE PART A BEFORE PROVIDING DATA FOR PART B.
This part is intended to report a summary of changes in equity and to determine that all amounts being
reported on the Balance Sheet Information (Part A), Revenues and Other Additions (Part D), and Expenses
by Function (Part E) are in agreement.
01 – Total revenues - Enter all revenues that agree with the revenues recognized in your GPFS. The amount
provided here is important because it will be carried forward to Part D.
02 – Total expenses - Enter all expenses that agree with the expenses recognized in your GPFS. The amount
provided here is important because it will be carried forward to Part E.
03 – Sum of specific changes in equity - This calculated value is generated using this formula:
B03 = B04 –(B01 - B02)
The amount above should equal the sum of these amounts found in your GPFS:
a) Gains or (losses) on sale of plant assets;
b) Other nonoperating gains or (losses);
c) Provision for Federal and State income tax (where applicable);
d) Discontinued operations;
e) Extraordinary gain or (loss); and,
f) Cumulative effect of change(s) in accounting principle.
Because this is a calculated value, data providers are advised to compare this amount with the corresponding amount
from their GPFS or underlying records. If these amounts differ materially, the data provider is advised to check the
other amounts provided on this screen for data entry errors.
These terms are discussed below.
a) Gains or (losses) on sale of plant assets – Include the net gain or loss on the sale of plant, property and
equipment reported in your GPFS.
b) Other nonoperating gains or (losses) – Include gains or losses recognized in your GPFS other than those
reported previously.
c) Provision for Federal and State income tax (where applicable) - Include amounts associated with income tax
expenses where applicable.
d) Discontinued operations - Include amounts for discontinued operations (if any) reported in your GPFS.
e) Extraordinary gain or (loss) - Include amounts for extraordinary items (if any) reported in your GPFS.
f) Cumulative effect of change(s) in accounting principle - Includes amounts reported as the cumulative effect
of change(s) in accounting principle (if any) reported in your GPFS.
04 – Net income - Enter the amount of net income found in your GPFS.
05 – Other changes in equity – Enter the sum of these amounts: investments by owners, distributions to owners,
unrealized gains (losses) on securities and other comprehensive income, and other additions to (deductions from)
owners’ equity.
06 – Equity, beginning of year - The amount reported on this line should correspond to the total equity at the
beginning of the reporting period as found in your GPFS.
07 – Adjustments to beginning net equity - This calculated value is generated using this formula:
B07 = B08 – (B04 + B05 + B06)
Check your GPFS to make sure this generated amount is equal to the sum of any unrealized gains (losses) on
investments and any other adjustments to beginning net equity not reported elsewhere. This includes adjustments for
retroactive application of changes in accounting principle and prior period adjustments. If these amounts differ
materially, the data provider is advised to check the other amounts provided on this screen for data entry errors.
08 – Equity, end of year - This amount is carried forward from the amount calculated in Part A, line 03. This amount
should equal the total equity reported in your GPFS.
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Part C: Scholarships and Fellowships
This part is intended to report details about scholarships and fellowships.
For each source on lines 01-04, enter the amount of resources received that are used for scholarships and fellowships.
Scholarships and fellowships include: grants-in-aid, trainee stipends, tuition and fee waivers, and prizes to students.
Scholarships and fellowships do not include amounts provided to students as payments for services including teaching
or research or as fringe benefits.
For lines 06 and 07, identify amounts that are reported in the GPFS as allowances only. “Allowance” means the
institution displays the financial aid amount as a deduction from tuition and fees or a deduction from auxiliary
enterprise revenues in its GPFS.
The allowance category is intended to be consistent with the definitions provided in the NACUBO Advisory Report on
Accounting and Reporting Scholarship Allowances to Tuition and Other Fee Revenues by Higher Education (AR 97-1,
January 17,1997), which is available at the NACUBO website (www.nacubo.org). AR 97-1 states:
“A scholarship allowance is the difference between the stated charge for goods and services provided by the institution
and the amount which is billed to students and/or third parties making payments on behalf of students. In considering
what is or is not revenue, the following rule applies amounts received to satisfy student tuition and fees will be
reported as revenues only once (e.g. student fees, gifts, investment income) and only amounts received from students
and third-party payers to satisfy tuition and fees will be recognized as tuition and fees revenue.
For more information on reporting discounts and allowances in scholarships and fellowships, access the (IPEDS Tip
Sheet).
Refer to these specific instructions for more information about reporting student grants.
01: Pell grants (federal) – Enter the amount awarded to the institution under the Pell Grant program.
02: Other federal grants – Enter the amount awarded to the institution under federal student aid programs other
than Pell, such as the Federal Supplemental Education Opportunity Grants (FSEOG), DHHS training grants (aid portion
only), and the federal portion of State Student Incentive Grants (SSIG). Do not include institutional matching portions
for any of these programs here; they should be reported as institutional grants. Do not include Federal Direct Student
Loans, Federal Work Study, or federal veteran education benefits.
03a: State grants – Enter the amount awarded to the institution under state student aid programs, including the
state portion of State Student Incentive Grants (SSIG).
03b: Local grants (government) – Enter the amount awarded to the institution under local government student aid
programs.
04: Institutional grants – Enter the amount awarded to students from institutional resources.
05: Total scholarship and fellowships – This calculated value is the sum of lines 01 through 04. Because this is a
calculated value data providers are advised to check this amount with the corresponding amount on their GPFS or
underlying records. If these amounts differ materially, the data provided is advised to check the other amounts
provided on this screen for data entry errors.
06: Allowances (scholarships) applied to tuition and fees – Enter the amount of allowances (scholarships)
applied to tuition and fees. The amount on this line, when added to the amount in Part D, line 01 equals gross tuition
and fees. (FARM para. 460)
07: Allowances (scholarships) applied to auxiliary enterprise revenues - Enter the amount of allowances
(scholarships) applied to auxiliary enterprise revenues (e.g., dormitory charges). The amount on this line, when added
to the amount in Part D, line 07 equals gross auxiliary enterprise revenue. (FARM para. 460)
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Part D – Revenues and Investment Return
PLEASE COMPLETE PARTS B AND C BEFORE PROVIDING DATA FOR PART D.
This part is intended to report revenues by source.
The revenues and investment return reported in this part should agree with the revenues reported in the
institution’s GPFS.
All revenue source categories are intended to be consistent with the definitions provided for private institutions
according to the NACUBO Financial Accounting and Reporting Manual (FARM).
Exclude from revenues (and expenses) internal changes and credits. Internal changes and credits include charges
between parent and subsidiary only if the two are consolidated in the amounts reported in the IPEDS survey.
Refer to these specific instructions for more information about reporting revenues and investment return.
01: Tuition and fees (net of amount reported in Part C, line 06) – Enter the amount of tuition and educational
fees net of any allowances applied in the GPFS. Include in this amount all fees for continuing education programs,
conferences, and seminars.
Government Appropriations, Grants and Contracts
02a: Federal appropriations – Enter all amounts received from the federal government through a direct
appropriation of Congress, except grants and contracts, which should be reported on line 02b. An example of a federal
appropriation is a federal land-grant appropriation. (FARM para. 463) Do not include Pell Grants on this line. Do
not include any ARRA revenues on this line (see line 08 in this part).
02b: Federal grants and contracts – Enter all revenues from federal agencies that are for specific undertakings
such as research projects, training projects, and similar activities, including contributions from federal agencies. If
federal Pell and similar student aid grants are treated as agency transactions in your GPFS, they are excluded from
this amount. If federal Pell and similar student aid grants are treated in your GPFS as student aid expenses or as
allowances when awarded. Include the grant revenue on this line and in Part E. (FARM para. 464) Do not include any
ARRA revenues on this line (see line 08 in this part).
03a: State appropriations – Enter all amounts received from a state government through a direct appropriation of
its legislative body, except state grants and contracts, which should be reported in line 03b. An example of a state
appropriation that should be entered in line 03a is an annual state appropriation for operating expenses of the
institution. (FARM para. 463) Do not include any ARRA revenues on this line (see line 08 in this part).
03b: State grants and contracts – Enter all revenues from state government agencies that are for specific
undertakings such as research projects, training projects, and similar activities, including contributions from state
agencies. If state grants for student aid are treated as agency transactions in your GPFS, they are excluded from this
amount. If state grants for student aid are treated in your GPFS as student expenses or as allowances when awarded,
include the grant revenue on this line and in Part E. (FARM para. 464) Do not include any ARRA revenues on this line
(see line 08 in this part).
03c: Local government appropriations – Enter all amounts received from a local government (i.e., city and/or
county) through a direct appropriation of its legislative body, except for local grants and contracts, which should be
reported on line 03d. An example of a local appropriation that should be entered on line 03c is an annual appropriation
for operating expenses of the institution. (FARM para. 463)
03d: Local grants and contracts – Enter all revenues from local government agencies that are for specific
undertakings such as research projects, training projects, and similar activities, including contributions from local
agencies. If local grants for student aid are treated as agency transactions in your GPFS, they are excluded from this
amount. If local grants for student aid are treated in your GPFS as student aid expenses or as allowances when
awarded, include the grant revenue on this line and in Part E. (FARM para. 464)
Private Gifts, Grants, and Contracts
04: Private gifts grants and contracts – Enter revenues from private (non-governmental) entities including
revenue from research or training projects and similar activities.
Other Revenue
05: Investment income and investment gains (losses) included in net income – Enter all investment income
including: dividends; interest; rents and royalties; gains and losses (realized and unrealized) from holding investments
that are included in net income in accordance with the SFAS No. 115; student loan interest; and amounts distributed
from irrevocable trusts held by others (collectively referred to as “investment income”).
Part D, line 05 should include all investment income and net investment gains (losses) included in net income in your
institution’s GPFS. Net investment gains (losses) included in other comprehensive income should be reported in Part B,
line 03.
06: Sales and services of educational activities – Enter all revenues derived from the sales of goods or services
that are incidental to the conduct of instruction, research or public service, and revenues of activities that exist to
provide instructional and laboratory experience for students and that incidentally create goods and services that may
be sold. Examples include film rentals, scientific and literary publications, testing services, university presses, dairies,
and patient care clinics that are not part of a hospital.
07: Sales and services of auxiliary enterprises (net of amount reported in Part C, line 07) - Enter revenues
generated by the auxiliary enterprise operations, net of any allowances applied in the GPFS. Auxiliary enterprises are
operations that exist to furnish a service to students, faculty, or staff, and that charge a fee that is directly related to
the cost of the service. Examples are residence halls, food services, student health services, intercollegiate athletics,
college unions, college stores, and movie theaters.
12: Hospital Revenue (if applicable) - Enter the revenues and gains of hospitals operated as a component of a
reporting institution of higher education. (FARM para. 465) If your hospital is reporting in IPEDS educational program
activity that is conducted separate from an institution of higher education, do not use this line. Refer to the special
instructions below.
SPECIAL INSTRUCTIONS FOR CERTAIN HOSPITALS AND/OR MEDICAL CENTERS
Hospitals and/or medical centers reporting educational program activity that is operated by an entity for which the
primary function is other than higher education should complete the IPEDS Finance Survey as follows:
a. Include in Part D the revenues directly associated with the educational programs offered. Combine the revenues of
all educational programs offered.
b. Do not complete Part D, line 12 (Hospital revenue). This information is required only for hospitals whose financial
activity is reported as a component of an institution of higher education.
c. Include in Part E all expenses associated with instruction and educational support services based on your underlying
accounting records. Combine the expenses of all educational programs offered.
d. Complete Part A and Part B if the information for the educational program(s) component is obtainable from the
underlying accounting records. Do not report information for the hospital as a whole.
08: Other revenue - This calculated value is generated using this formula:
D08 = D09 – (D01 + … + D07)
The amount above should be equal to corresponding amounts found in your GPFS. Excluded from this amount are
gains or other unusual or nonrecurring items that are required to be included in Part B, such as gains on the sale of
plant assets and extraordinary gains. If this generated amount is negative, this is an indication that amounts entered
on this screen are not consistent with your audited GPFS or underlying records.
09: Total revenues and investment return - This amount is carried forward from Part B, line 01. Please check to
make sure that the amount carried forward is the same as the amount found in your GPFS.
10: 12-month Student FTE from E12 – This number for full-time equivalent (FTE) student enrollment is carried
over from the 12-month enrollment survey.
11: Total revenues and investment return per Student FTE – This amount is generated by dividing line 09 by line
10. This calculated value is used by the system to compare the data reported by the institution to the data of
institutions that are in the same sector (e.g., public/private, 4-year/2-year) to see if the calculated value is an
extreme value that is too high or low. While it is not anticipated that your institution would have the same overall
revenues, this comparison may be useful for ensuring that all appropriate revenues have been included in the finance
survey component, or excluded when appropriate.
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Part E – Expenses by Functional and Natural Classification
PLEASE COMPLETE PART B BEFORE PROVIDING DATA FOR PART E.
Part E is intended to report expenses by function. All expenses recognized in the GPFS should be reported using the
expense functions provided on lines 01–06, 10, and 11. With the exception of the operation and maintenance of plant
(line 11), these functional categories are consistent with Chapter 5 (Accounting for Private Colleges and Universities)
of the NACUBO FARM. (FARM para 504)
Institutions that do not have access to FARM can refer to Appendix B of the NACUBO Advisory Report 2010-1, Public
Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest Expenses to
Functional Expense Categories for more detailed information on the expense categories. Although this document was
written for public institutions, the expenditure definitions are applicable to private institutions also. The advisory is
available online here.
Although for-profit institutions are not required to report expenses by functions in their GPFS, please report expenses
by functional categories using your underlying accounting records. Expenses should be assigned to functional
categories by direct identification with a function, wherever possible. When direct assignment to functional categories
is not possible, an allocation is appropriate. Objective methods of allocating expense are preferable to subjective
methods and may be based on financial or nonfinancial data.
The total for expenses on line 07 should agree with the total expenses reported in your GPFS including
interest expense and any other non-operating expense.
Do not include losses or other unusual or nonrecurring items in Part E. (Special items including gains and losses should
be reported in Part B.) Operation and maintenance of plant expenses are no longer reported as a separate expense
category. Instead these expenses are to be distributed, or allocated, among the other functional expense categories.
Expenses by Natural Classification
Column 1, Total amount - Enter the total expense for each applicable functional category listed on lines 01–06, 10,
and 11. No amount may be entered on line 11 for total operations and maintenance expenses. This line is provided to
assist in the allocation of operation and maintenance expenses. Total expenses, line 07, should agree with the total
expenses reported in your GPFS.
Column 2, Salaries and wages – This column describes the natural classification of salary and wage expenses
incurred in each functional category. For this classification, enter the amount of salary and wage expenses for the
function identified in lines 01-06, 10, and 11.
Column 3, Benefits - Enter in this column the amount of benefits expenses incurred in each functional category
identified on lines 01-06, 10, and 11.
Column 4, Operation and maintenance of plant - This column, in conjunction with Line 11, is used to show the
distribution of operation and maintenance of plant expenses to the various functions. Enter in this column the allocated
amount of operation and maintenance of plant expenses to each function listed on lines 01-06, 10, and 11. The total
operation and maintenance of plant expenses should be entered as a negative amount on line 11 of this column, so
that the net total of the column as well as the net total of line 11 is zero. (FARM para. 704.14)
Column 5, Depreciation - Enter in this column the amount of depreciation allocated to each functional category
identified on lines 01-06, 10, and 11. (FARM para. 704.15)
Column 6, Interest - Enter in this column the amount of interest incurred on debt allocated to each function
identified on lines 01-06, 10, and 11. (FARM para. 704.16)
Column 7, All other - This column will be calculated by the survey program as the difference between the total
amount entered in column 1 and the sum of columns 2 through 6. Please check the calculated amount for accuracy to
determine that no keying errors have occurred.
Expenses by Functional Classification
01 – Instruction – Enter the instruction expenses of the colleges, schools, departments, and other instructional
divisions of the institution and expenses for departmental research and public service that are not separately
budgeted. The instruction category includes general academic instruction, occupational and vocational instruction,
special session instruction, community education, preparatory and adult basic education, and remedial and tutorial
instruction conducted by the teaching faculty for the institution’s students. Include expenses for both credit and noncredit activities. Exclude expenses for academic administration if the primary function is administration (e.g., academic
deans). Such expenses should be entered on line 03a. (FARM para. 703.4)
02a – Research – Enter the expenses for activities specifically organized to produce research outcomes and either
commissioned by an agency external to the institution or separately budgeted by an organizational unit within the
institution. The category includes institutes and research centers, and individual and project research. Do not report
nonresearch sponsored programs (e.g., training programs) on this line. Training programs generally are reported on
line 01 (Instruction). (FARM para. 703.5)
02b – Public service – Enter the expenses specifically for public service and for activities established primarily to
provide noninstructional services beneficial to groups external to the institution. Examples are seminars and projects
provided to the particular sectors of the community. Include expenses for community services, cooperative extension
services, and public broadcasting services. (FARM para. 703.6)
03a – Academic support – Enter the expenses for support services that are an integral part of the institution’s
primary mission of instruction, research, or public service and that are not charged directly to these primary programs.
Include expenses for libraries, museums, galleries, audio/visual services, academic development, academic computing
support, course and curriculum development, and academic administration. Include expenses for medical, veterinary
and dental clinics if their primary purpose is to support the institutional program, that is, they are not part of a
hospital. (FARM para. 703.7)
03b – Student services – Enter the expenses for admissions, registrar activities and activities whose primary
purpose is to contribute to students emotional and physical well-being and to their intellectual, cultural and social
development outside the context of the formal instructional program. Examples are career guidance, counseling,
financial aid administration, student records, athletics, and student health services, except when operated as a selfsupporting auxiliary enterprise. (FARM para. 703.8)
03c – Institutional support – Enter the expenses for the day-to-day operational support of the institution. Include
expenses for general administrative services, executive direction and planning, legal and fiscal operations,
administrative computing support, and public relations/development. (FARM para. 703.9)
04 – Auxiliary enterprises – Enter expenses of essentially self-supporting operations of the institution that exist to
furnish a service to students, faculty, or staff, and that charge a fee that is directly related to, although not necessarily
equal to, the cost of the service. Examples are residence halls, food services, student health services, intercollegiate
athletics (only if essentially self-supporting), college unions, college stores, faculty and staff parking, and faculty
housing. (FARM para. 703.11)
05 – Net grant aid to students (net of tuition and fee allowances) - Enter on this line ONLY scholarships and
fellowships recognized as expenses in your GPFS. Do not include Federal Work Study expenses on this line. Work
study expenses should be reported within the function where the student worked. Whereas in the past, most student
awards were recorded as expenses under this classification, most student awards are now reported as either
scholarship allowances or agency transactions. Student awards, made from contributed funds or grant funds, that are
under the control of the institution (the institution decides who gets the award) result in allowances that reduce tuition
or auxiliary enterprise revenue. Student awards, made from grant funds, that are made to students identified by the
grantor are considered agency transactions and do not result in either revenues or expenses. Scholarships and
fellowships in the form of allowances applied to tuition and fees should be reported in Part C, line 06, and not included
in Part E, line 05. Scholarships and fellowships in the form of allowances applied to auxiliary services should be
reported in Part C, line 07, and not included in Part E, line 05. (FARM para. 703.10)
According to NACUBO Advisory Report 97-1 (January 17, 1997), scholarships and fellowships are "expenses to the
extent that the organization incurs incremental expense in providing goods and services." Thus payments made by the
institution to students or third parties in support of the total cost of education are expenses if those payments are
made for goods and services NOT provided by the institution. Examples include payments for services to third parties
(including students) for off-campus housing or for the cost of board not provided by institutional contract meal plans.
10 – Hospital services – Enter all expenses associated with the operation of a hospital reported as a component of
an institution of higher education. Include nursing expenses, other professional services, administrative services, fiscal
services, and charges for operation and maintenance of plant. (FARM para. 703.12) Hospitals or medical centers
reporting educational program activities conducted independent of an institution of higher education (not
as a component of a reporting institution of higher education) should not complete this line. Refer to the
special instructions below.
SPECIAL INSTRUCTIONS FOR CERTAIN HOSPITALS AND/OR MEDICAL CENTERS Hospitals and/or medical
centers reporting educational program activity operated by an entity for which the primary function is other than
higher education should complete the IPEDS Finance Survey as follows:
a. Include in Part D the revenues directly associated with the educational programs offered. Combine the revenues of
all educational programs offered.
b. Do not complete Part D, line 10 (Hospital revenue). This information is required only for hospitals whose financial
activity is reported as a component of an institution of higher education.
c. Include in Part E all expenses associated with instruction and educational support services based on your underlying
accounting records. Combine the expenses of all educational programs offered.
d. Complete Part A and Part B if the information for the educational program(s) component is obtainable from the
underlying accounting records. Do not report information for the hospital as a whole.
11 – Operation and maintenance of plant - This line, in conjunction with Column 4, is used to show the
distribution of operation and maintenance of plant expenses to the various functions. Enter all expenses for operations
established to provide service and maintenance related to campus grounds and facilities used for educational and
general purposes. Specific expenses include utilities, fire protection, property insurance, and similar items. Also
included are information technology expenses related to operation and maintenance of plant activities if the institution
separately budgets and expenses information technology resources (otherwise these expenses are included in
institutional support). FASB institutions do not report this function on their GPFS; instead these expenses are charged
to or allocated to other functions. In the column for operation and maintenance of plant (column 4), enter (as a
negative amount) on this line the total amount of operation and maintenance of plant expenses allocated to the other
functions. (FARM para. 703.14)
06 - Other expenses – This calculated value is generated using this formula:
E06 = E07 – (E01 + … + E11)
Because this is a generated number, data providers are advised to compare this amount with a corresponding amount
in the institution's GPFS. If these amounts differ materially, the data provider is advised to check the other amounts
provided on this screen for data entry errors.
07 – Total expenses – The amount in column 1 is carried forward from Part B, line 02. This should be the same as
the amount for total expenses found in your GPFS. Enter in columns 2, 3, 5, and 6 the total amount of each natural
expense incurred by the institution. These amounts will be used to compute the amounts in line 06, as well as line 07
08 – 12-month Student FTE from E12 - This number for full-time equivalent (FTE) student enrollment is carried
over from the 12-month enrollment survey.
09 – Total expenses per Student FTE - This amount is generated by dividing line 07 by line 08. This calculated
value is used by the system to compare the data reported by the institution to the data of institutions that are in the
same sector (e.g., public/private, 4-year/2-year) to see if the calculated value is an extreme value that is too high or
low. While it is not anticipated that your institution would have the same overall expenses, this comparison may be
useful for ensuring that all appropriate expenses have been included in the finance survey component, or excluded
when appropriate.
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date: 8/4/2015
Glossary
Term
Definition
Academic support
A functional expense category that includes expenses of activities and services that support the institution's primary
missions of instruction, research, and public service. It includes the retention, preservation, and display of
educational materials (for example, libraries, museums, and galleries); organized activities that provide support
services to the academic functions of the institution (such as a demonstration school associated with a college of
education or veterinary and dental clinics if their primary purpose is to support the instructional program); media
such as audiovisual services; academic administration (including academic deans but not department chairpersons);
and formally organized and separately budgeted academic personnel development and course and curriculum
development expenses. Also included are information technology expenses related to academic support activities; if
an institution does not separately budget and expense information technology resources, the costs associated with
the three primary programs will be applied to this function and the remainder to institutional support. Institutions
include actual or allocated costs for operation and maintenance of plant, interest, and depreciation.
Accumulated depreciation
The total depreciation charged as expenses as of the reporting date (in the current year and in prior years) on the
capital assets of the institution. FASB Statement No. 117 and GASB Statement No. 34 require that accumulated
depreciation to date be recognized.
Administrative unit
The system or central office in a multi-campus environment.
Allowances
That part of a scholarship or fellowship that is used to pay institutional charges such as tuition and fees or room and
board charges.
Assets
Physical items (tangible) or rights (intangible) that have value and that are owned by the institution. Assets are
useful to the institution because they are a source of future services or because they can be used to secure future
benefits.
Audit opinion
An audit, performed by external (or outside) auditors, that usually consists of a one-page "opinion" letter on the
general-purpose financial statements. The "opinion" paragraph of the letter usually states that "In our opinion, the
financial statements present fairly, in all material respects, the financial position as of (date) and the results of
operations for the year then ended, in conformity with accounting standards generally accepted in the United States."
If the auditor cannot state completely the substance of the previous "opinion" sentence, then the auditor will add a
phrase such as "...except for..." and state the basis for the exception. When the auditor includes exceptions to the
opinion, the opinion is considered to be a "qualified opinion;" when no such exceptions are included, the opinion is
considered to be an "unqualified opinion."
Auxiliary enterprises
expenses
Expenses for essentially self-supporting operations of the institution that exist to furnish a service to students,
faculty, or staff, and that charge a fee that is directly related to, although not necessarily equal to, the cost of the
service. Examples are residence halls, food services, student health services, intercollegiate athletics (only if
essentially self-supporting), college unions, college stores, faculty and staff parking, and faculty housing. Institutions
include actual or allocated costs for operation and maintenance of plant, interest and depreciation.
Auxiliary enterprises
revenues
Revenues generated by or collected from the auxiliary enterprise operations of the institution that exist to furnish a
service to students, faculty, or staff, and that charge a fee that is directly related to, although not necessarily equal
to, the cost of the service. Auxiliary enterprises are managed as essentially self-supporting activities. Examples are
residence halls, food services, student health services, intercollegiate athletics, college unions, college stores, and
movie theaters.
Book value
The dollar value of the physical asset at the time of construction or purchase of that asset, or, if the asset is a gift,
the market value of the asset at the time of the gift. It may also be the difference between the balance of a physical
plant asset account and its related accumulated depreciation account.
Buildings
Capital assets built or acquired for occupancy and use by the entity. These are structures such as classrooms,
research facilities, administrative offices, and storage. Includes built-in fixtures and equipment that are essentially
part of the permanent structure. Buildings held for the production of revenue are classified as investments.
Capital outlay
The cost of acquiring plant assets, adding to plant assets, and adding utility to plant assets for more than one
accounting period.
Change in net assets
A term used to describe the net amount of revenues, expenses, gains, and losses for the reporting period. This
appears on the Statement of Revenues, Expenses, and Changes in Net Assets for GASB organizations and on the
Statement of Activities for FASB organizations.
Depreciation
The allocation or distribution of the cost of capital assets, less any salvage value, to expenses over the estimated
useful life of the asset in a systematic and rational manner. Depreciation for the year is the amount of the allocation
or distribution for the year involved.
Discounts and allowances
That part of a scholarship or fellowship that is used to pay institutional charges such as tuition and fees or room and
board charges.
Equity
The excess of a private, for-profit institution's assets over its liabilities. It is the claim or stake of the owners.
Expenses
The outflow or other using up of assets or incurrence of liabilities (or a combination of both) from delivering or
producing goods, rendering services, or carrying out other activities that constitute the institution's ongoing major or
central operations or in generating revenues. Alternatively, expenses may be thought of as the costs of goods and
services used to produce the educational services provided by the institution. Expenses result in a reduction of net
assets.
Federal grants
Transfers of money or property from the Federal government to the education institution without a requirement to
receive anything in return. These grants may take the form of grants to the institutions to undertake research or they
may be in the form of student financial aid. (Used for reporting on the Finance component)
Federal Work Study (FWS)
A part-time work program awarding on- or off-campus jobs to students who demonstrate financial need. FWS
positions are primarily funded by the government, but are also partially funded by the institution. FWS is awarded to
eligible students by the college as part of the student's financial aid package. The maximum FWS award is based on
the student's financial need, the number of hours the student is able to work, and the amount of FWS funding
available at the institution. This is a type of Title IV Aid, but is not considered grant aid to students.
Fellowships
These are grants-in-aid and trainee stipends to graduate students. Fellowships do not include funds for which
services to the institution must be rendered, such as payments for teaching, or loans.
Fringe benefits
Cash contributions in the form of supplementary or deferred compensation other than salary. Excludes the
employee's contribution. Employee fringe benefits include retirement plans, social security taxes, medical/dental
plans, guaranteed disability income protection plans, tuition plans, housing plans, unemployment compensation
plans, group life insurance plans, worker's compensation plans, and other benefits in-kind with cash options.
Government appropriations
(revenues)
Revenues received by an institution through acts of a legislative body, except grants and contracts. These funds are
for meeting current operating expenses and not for specific projects or programs. The most common example is a
state's general appropriation. Appropriations primarily to fund capital assets are classified as capital appropriations.
Grants and contracts
(revenues)
Revenues from governmental agencies and nongovernmental parties that are for specific research projects, other
types of programs , or for general institutional operations (if not government appropriations). Examples are research
projects, training programs, student financial assistance, and similar activities for which amounts are received or
expenses are reimbursable under the terms of a grant or contract, including amounts to cover both direct and
indirect expenses. Includes Pell Grants and reimbursement for costs of administering federal financial aid programs.
Grants and contracts should be classified to identify the governmental level - federal, state, or local - funding the
grant or contract to the institution; grants and contracts from other sources are classified as nongovernmental grants
and contracts. GASB institutions are required to classify in financial reports such grants and contracts as either
operating or nonoperating.
Hospital services
Expenses associated with a hospital operated by the postsecondary institution (but not as a component unit) and
reported as a part of the institution. This classification includes nursing expenses, other professional services, general
services, administrative services, and fiscal services. Also included are information technology expenses, actual or
allocated costs for operation and maintenance of plant, interest and depreciation related to hospital capital assets.
Income tax
Domestic and foreign federal (national), state, and local (including franchise) taxes based on income.
Institutional grants
Scholarships and fellowships granted and funded by the institution and/or individual departments within the
institution, (i.e., instruction, research, public service) that may contribute indirectly to the enhancement of these
programs . Includes scholarships targeted to certain individuals (e.g., based on state of residence, major field of
study, athletic team participation) for which the institution designates the recipient.
Institutional support
A functional expense category that includes expenses for the day-to-day operational support of the institution.
Includes expenses for general administrative services, central executive-level activities concerned with management
and long range planning, legal and fiscal operations, space management, employee personnel and records, logistical
services such as purchasing and printing, and public relations and development. Also includes information technology
expenses related to institutional support activities. If an institution does not separately budget and expense
information technology resources, the IT costs associated with student services and operation and maintenance of
plant will also be applied to this function.
Instruction
A functional expense category that includes expenses of the colleges, schools, departments, and other instructional
divisions of the institution and expenses for departmental research and public service that are not separately
budgeted. Includes general academic instruction, occupational and vocational instruction, community education,
preparatory and adult basic education, and regular, special, and extension sessions. Also includes expenses for both
credit and non-credit activities. Excludes expenses for academic administration where the primary function is
administration (e.g., academic deans). Information technology expenses related to instructional activities if the
institution separately budgets and expenses information technology resources are included (otherwise these
expenses are included in academic support). Institutions include actual or allocated costs for operation and
maintenance of plant, interest, and depreciation.
Intangible assets
Assets consisting of nonmaterial rights and benefits of an institution, such as patents, copyrights, trademarks and
goodwill.
Integrated Postsecondary
Education Data System
(IPEDS)
The Integrated Postsecondary Education Data System (IPEDS), conducted by the NCES, began in 1986 and involves
annual institution-level data collections. All postsecondary institutions that have a Program Participation Agreement
with the Office of Postsecondary Education (OPE), U.S. Department of Education (throughout IPEDS referred to as
"Title IV") are required to report data using a web-based data collection system. IPEDS currently consists of the
following components: Institutional Characteristics (IC); 12-month Enrollment (E12);Completions (C); Admissions
(ADM); Student Financial Aid (SFA); Human Resources (HR) composed of Employees by Assigned Position, Fall Staff,
and Salaries; Fall Enrollment (EF); Graduation Rates (GR); Outcome Measures (OM); Finance (F); and Academic
Libraries (AL).
Interest
The price paid (or received) for the use of money over a period of time. Interest income is one component of
investment income. Interest paid by the institution is interest expense.
Investment gains
The gain derived from the investment of capital. Such gains may take the form of a market appreciation of the value
of the investment. The gain may be realized if the asset or capital is sold or unrealized if the asset or capital is not
sold.
Investment income
Revenues derived from the institution's investments, including investments of endowment funds. Such income may
take the form of interest income, dividend income, rental income or royalty income and includes both realized and
unrealized gains and losses.
Liabilities
Debts and obligations of the institution owed to outsiders or claims or rights, expressed in monetary terms, of an
institution's creditors. GASB institutions are required to report liabilities under two categories - current liabilities and
noncurrent liabilities.
Local government grants and
contracts (revenues)
Revenues from local government agencies that are for training programs and similar activities for which amounts are
received or expenditures are reimbursable under the terms of a local government grant or contract. These
amounts can be treated as an allowance, an agency transaction, or as a student aid
expense in the institution's General Purpose Financial Statements (GPFS) and are
reported differently depending on their treatment. Generally, however, private
institutions report these grants as allowances when applied to the student's account and
as local grant revenues when received.
Long-term investments
Money or capital invested for purposes of receiving a profitable return over a period of time of more than one year.
Long-term investments should be distinguished from temporary investments based on the intention of the
organization regarding the terms of the investment rather than the nature of the investment itself. Includes: 1) cash
held until appropriate investments are identified; 2) repurchase agreements and other money market media; 3)
equity securities and mutual fund investments; 4) debt securities; 5) real estate held for income production; 6)
beneficial interest in trusts; and 7) other. GASB institutions report these investments under "noncurrent assets."
Market value
The value of a good as determined in the market at a specific point in time or what individuals in the market for the
good are willing to pay to obtain the good at a given point in time.
Net Assets
The excess of assets over liabilities or the residual interest in the institution's assets remaining after liabilities are
deducted. The change in net assets results from revenues, gains, expenses, and losses. FASB institutions classify net
assets into three categories: permanently restricted, temporarily restricted, and unrestricted. This term is similar to
the "Net position" term used by GASB instiutions.
Net grant aid to students
(expenses)
The portion of scholarships and fellowships granted by an institution that exceeds the amount applied to institutional
charges such as tuition and fees or room and board. The amount reported as expense excludes allowances.
Net income
The final figure in the income statement when revenues exceed expenses.
Operation and maintenance
of plant
A functional expense category that includes expenses for operations established to provide service and maintenance
related to campus grounds and facilities used for educational and general purposes. Specific expenses include
utilities, fire protection, property insurance, and similar items. This function does include amounts charged to
auxiliary enterprises, hospitals, and independent operations. Also includes information technology expenses related
to operation and maintenance of plant activities if the institution separately budgets and expenses information
technology resources (otherwise these expenses are included in institutional support). Institutions may, as an option,
distribute depreciation expense to this function.
Other federal grants
Federal monies awarded to the institution under federal government student aid programs, such as the Federal
Supplemental Educational Opportunity Grants (FSEOG), DHHS training grants (aid portion only), the Leveraging
Education Assistance Partnership (LEAP) program, and other federal student aid programs. Pell grants are not
included in this classification. Note: if the federal government selects the student recipients and simply transmits the
funds to the institution for disbursement to the student, the amounts are not considered as revenues and
subsequently there are no discounts and allowances or scholarships and fellowships expenses. If the funds are made
available to the institution for selection of student recipients, then the amounts received are considered as
nonoperating revenues and subsequently as discounts and allowances or scholarships and fellowships expenses.
Pell Grant program
(Higher Education Act of 1965, Title IV, Part A, Subpart I, as amended.) Provides grant assistance to eligible
undergraduate postsecondary students with demonstrated financial need to help meet education expenses.
Physical plant assets
These assets consist of land, buildings, improvements, equipment, and library books. Excluded are assets that are
part of endowment or other capital fund investments in real estate. Construction in progress is excluded from this
total until completed.
Physical plant indebtedness
Debt incurred in financing the institution's capital assets, including bonds, mortgages, notes, capital leases, and any
other outstanding debt that was incurred to acquire, construct, or improve capital assets such as land, buildings, and
improvements other than buildings, equipment, and library books. Excludes indebtedness that is part of endowment
or other capital fund investments in real estate. Also excludes construction in progress.
Private gifts, grants and
contracts (revenues)
Revenues from private donors for which no legal consideration is involved and from private contracts for specific
goods and services provided to the funder as stipulation for receipt of the funds. Includes only those gifts, grants,
and contracts that are directly related to instruction, research, public service, or other institutional purposes. Includes
monies received as a result of gifts, grants, or contracts from a foreign government. Also includes the estimated
dollar amount of contributed services.
Private grants and contracts
(Revenues)
Revenues from private (non-governmental) entities that are for specific research projects, other types of programs,
or for general institutional operations (if not government appropriations). Examples are research projects, training
programs, and similar activities for which amounts are received or expenses are reimbursable under the terms of a
grant or contract, including amounts to cover both direct and indirect expenses.
Public service
A functional expense category that includes expenses for activities established primarily to provide noninstructional
services beneficial to individuals and groups external to the institution. Examples are conferences, institutes, general
advisory service, reference bureaus, and similar services provided to particular sectors of the community. This
function includes expenses for community services, cooperative extension services, and public broadcasting services.
Also includes information technology expenses related to the public service activities if the institution separately
budgets and expenses information technology resources (otherwise these expenses are included in academic
support). Institutions include actual or allocated costs for operation and maintenance of plant, interest, and
depreciation.
Research
A functional expense category that includes expenses for activities specifically organized to produce research
outcomes and commissioned by an agency either external to the institution or separately budgeted by an
organizational unit within the institution. The category includes institutes and research centers, and individual and
project research. This function does not include nonresearch sponsored programs (e.g., training programs). Also
included are information technology expenses related to research activities if the institution separately budgets and
expenses information technology resources (otherwise these expenses are included in academic support.) Institutions
include actual or allocated costs for operation and maintenance of plant, interest, and depreciation.
Revenues
The inflow of resources or other enhancement of net assets (or fund balance) of an institution or settlements of its
liabilities (or a combination of both) from delivering or producing goods, rendering services, or other activities that
constitute the institution's ongoing major or central operations. Includes revenues from fees and charges,
appropriations, auxiliary enterprises, and contributions and other nonexchange transactions. Revenues are reported
net of discounts and allowances (that is, the revenue reported is reduced by the amount of discounts and allowances)
for FASB institutions and for GASB institutions that have implemented GASB Statement No. 34.
Salaries and wages
Amounts paid as compensation for services to all employees - faculty, staff, part-time, full-time, regular employees,
and student employees. This includes regular or periodic payment to a person for the regular or periodic performance
of work or a service and payment to a person for more sporadic performance of work or a service (overtime, extra
compensation, summer compensation, bonuses, sick or annual leave, etc.).
Sales and services of
educational activities
(revenues)
Revenues from the sales of goods or services that are incidental to the conduct of instruction, research or public
service. Examples include film rentals, sales of scientific and literary publications, testing services, university presses,
dairy products, machine shop products, data processing services, cosmetology services, and sales of handcrafts
prepared in classes.
Scholarships and fellowships
Outright grants-in-aid, trainee stipends, tuition and fee waivers, and prizes awarded to students by the institution,
including Pell grants. Awards to undergraduate students are most commonly referred to as "scholarships" and those
to graduate students as "fellowships." These awards do not require the performance of services while a student (such
as teaching) or subsequently as a result of the scholarship or fellowship. The term does not include loans to students
(subject to repayment), College Work-Study Program (CWS), or awards granted to a parent of a student because of
the parent's faculty or staff status. Also not included are awards to students where the selection of the student
recipient is not made by the institution.
State and local government
grants
State and local monies awarded to the institution under state and local student aid programs, including the state
portion of State Student Incentives Grants (SSIG). (Used for reporting Student Financial Aid data)
State grants (revenues)
A sum of money or property bestowed on a postsecondary institution by a state government.
Student services
A functional expense category that includes expenses for admissions, registrar activities, and activities whose
primary purpose is to contribute to students emotional and physical well-being and to their intellectual, cultural, and
social development outside the context of the formal instructional program. Examples include student activities,
cultural events, student newspapers, intramural athletics, student organizations, supplemental instruction outside the
normal administration, and student records. Intercollegiate athletics and student health services may also be
included except when operated as self-supporting auxiliary enterprises. Also may include information technology
expenses related to student service activities if the institution separately budgets and expenses information
technology resources(otherwise these expenses are included in institutional support.) Institutions include actual or
allocated costs for operation and maintenance of plant, interest, and depreciation.
Title IV institution
An institution that has a written agreement with the Secretary of Education that allows the institution to participate in
any of the Title IV federal student financial assistance programs (other than the State Student Incentive Grant
(SSIG) and the National Early Intervention Scholarship and Partnership (NEISP) programs).
Tuition and fees (published
charges)
The amount of tuition and required fees covering a full academic year most frequently charged to students. These
values represent what a typical student would be charged and may not be the same for all students at an institution.
If tuition is charged on a per-credit-hour basis, the average full-time credit hour load for an entire academic year is
used to estimate average tuition. Required fees include all fixed sum charges that are required of such a large
proportion of all students that the student who does not pay the charges is an exception.
U.S. Department of Education
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IPEDS Help Desk
(877) 225-2568 or [email protected]
NCES National Center for Education Statistics
2015-16 Survey Materials > FAQ
date: 8/4/2015
Finance
Click one of the following questions to view the answer.
General
1) Who is required to complete this survey?
2) Where do I get the data to fill out this survey?
3) My institution does not award degrees. Do we still need to complete the Finance component?
4) What period should the finance survey cover?
5) We haven’t been audited yet and won’t have an audited financial statement until May. Do I still have to fill this out?
6) What is combined ("parent/child") reporting and how does it work?
7) When does a system office need to report data?
8) Can a system office report combined data?
9) How do I know what reporting standards are used to prepare the financial statements?
10) The fiscal year for my institution changed. How do I report for the finance survey?
11) What is the difference between “business-type” activities and “governmental” activities?
12) My institution is part of a system and the system was audited as a unit, so we don’t have an opinion just on this school.
How do I answer the question about the audit opinion?
13) How are revenues per student FTE and expenses per student FTE calculated, and why were they added to the screens?
Public Institutions Using GASB Standards
1) Can public institutions report using FASB?
2) What happens if I respond incorrectly to the reporting standards screening question?
3) I see the term CV on several lines of the finance survey. What is this referring to?
4) Where did component units go?
5) How do I report deferred outflows and deferred inflows in Part A: Statement of Financial Position?
6) We do not capitalize our library. Do I report it on Part A page 2?
7) If my institution is a GASB-reporter, where should my institution report the gain or loss on the sale of a plant asset?
8) What are discounts and allowances (Part E)? (We don’t discount our tuition.)
9) What are operating versus nonoperating revenues?
10) We reported federal appropriations in operating revenues rather than non-operating revenues in our financial statements.
How should I report them on IPEDS?
11) My institution received funds from the American Recovery and Reinvestment Act (ARRA). Where should they be reported?
12) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
13) What are some examples of independent operations?
14) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
15) How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M), and interest
expenses to the other functional expense categories in Part C?
16) Why does operation and maintenance of plant appear as both a row and column in Part C (expenses and other
deductions)?
17) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An
expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
18) What are the impacts of GASB Statement 68 on IPEDS finance reporting? Are all institutions affected?
19) Parts JKL: Why can't institutions report negative numbers in the census data sections?
20) Part J: Where should ARRA grants be counted?
21) Part J: Should endowment funds held by component units be reported here?
Private Not-for-Profit and Public Institutions Using FASB
1) I see the term CV on several lines of the finance survey. What is this referring to?
2) What value do I use to report plant, property, and equipment on the second page of Part A?
3) What are allowances in Part C (Scholarships and Fellowships)?
4) What is the difference between funded and unfunded institutional grants as reported on the Scholarships and Fellowships
part of the survey?
5) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
6) My institution is primarily a hospital with a small instruction program. How should I report the hospital part of my
institution?
7) What are some examples of independent operations?
8) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
9) How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M), and interest
expenses to the other functional expense categories in Part C?
10) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?
11)
My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An
expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
Private for-profit institutions
1) I see the term CV on several lines of the finance survey. What is this referring to?
2) What income tax expenses should my institution report if I belong to both a multi-institution/multi-campus organization and
an IPEDS parent/child relationship?
3) What value do I use to report plant, property, and equipment on the second page of Part A?
4) What are allowances in Part C (Scholarship and Fellowships)?
5) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
6) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
7) The financial records of my institution do not break down expenses the way they are listed on Part E. How do I report
expenses for my institution?
8) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?
9) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An
expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
Answers:
General
1)
Who is required to complete this survey?
All Title IV postsecondary institutions are required to respond to the Finance survey. Institutions that have a Program
Participation Agreement (PPA) with the Department of Education are required to respond. HOWEVER, if your institution is a
branch campus of another institution and you SHARE a PPA, then you may make arrangements with the Help Desk to submit
one finance survey that covers all of your campuses. Because data provided for institutions are most useful if reported
individually, campuses are encouraged to report separately if possible, but reporting together is allowed if the campuses share a
PPA.
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2)
Where do I get the data to fill out this survey?
Each institution should have annual financial statements that are audited by an outside auditor. These financial statements are
referred to as general purpose financial statements (GPFS). The finance survey is designed to follow the format of the financial
statements suggested by the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board
(GASB). Some of the data necessary to complete the IPEDS Finance Survey may require institutions to adjust the amounts
reported in their GPFS; typically these adjustments pull in information included in the notes to the financial statements.
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3)
My institution does not award degrees. Do we still need to complete the Finance component?
Yes. However, the finance survey forms for non degree-granting institutions requires less information to be provided than for
degree-granting institutions.
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4)
What period should the finance survey cover?
The finance survey data should come from the last fiscal year that ended on or before October 31, 2015. For example, if your
institution’s fiscal year ends on June 30, it would come from the financial statements covering the year ending June 30, 2015. If
your institution’s fiscal year ends on December 31, your financial statements for the year ending December 31, 2014 would be
used.
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5)
We haven’t been audited yet and won’t have an audited financial statement until May. Do I still have to fill
this out?
YES, you must complete the finance component. Base your response on the information you have at this point. Answer the
audit question as “don’t know” and make a note in the context section that the financial statements have not yet been audited.
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6)
What is combined ("parent/child") reporting and how does it work?
Institutional keyholders MUST call the Help Desk before reporting combined data. A Help Desk representative will set up a
combined reporting situation for you. We call this a “parent/child” relationship. In this case, one institution reports data for the
entire unit, which includes the main campus (parent) and all branch campuses (children). All institutions in the combined report
MUST share the same Program Participation Agreement (PPA). Multiple institutions MUST NOT report identical combined data for
the same audit. Please refer to http://nces.ed.gov/ipeds/factsheets/fct_new_finance_2.asp for more information on parent/child
relationships.
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7)
When does a system office need to report data?
A system office needs to report data when reporting combined data or when it has its own separate budget. If a system office’s
budget is integrated into an institution such as a flagship university, it may be included in that institution’s finance survey.
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8)
Can a system office report combined data?
A system office may report combined data for institutions that are included it its system- wide audit if they are included in the
same PPA. For institutions that are not included in the same PPA, the system may report Part A data (Statement of Net Assets,
Statement of Financial Position, or Balance Sheet) for the institutions included in the system-wide audit, but each institution
must report its own revenues, expenses, and scholarships. A more detailed description may be found at
http://nces.ed.gov/ipeds/factsheets/fct_new_finance_2.asp. If a system will be reporting this way, they must contact the Help
Desk before reporting combined data.
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9)
How do I know what reporting standards are used to prepare the financial statements?
Ask your finance officer. This person should be aware of any changes in accounting standards. Typically, public institutions
report using GASB report standards whereas private institutions report using FASB standards.
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10) The fiscal year for my institution changed. How do I report for the finance survey?
A change in fiscal year usually creates a short fiscal year (from the previous fiscal year end date to the new fiscal year end
date). This short fiscal year should be covered by the finance survey. The next finance survey should cover a full fiscal year.
Also, indicate this change in fiscal year in the caveats box at the bottom of the first page of the survey.
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11) What is the difference between “business-type” activities and “governmental” activities?
These activity types refer to how the institution reports, or will report, its financial activities in their general purpose financial
statements (GPFS), as defined in GASB Statement 34. Governmental activities generally are financed through taxes,
intergovernmental revenues, and other nonexchange revenues. Business-type activities are financed in whole or in part by fees
charged to external parties for goods or services.
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12) My institution is part of a system and the system was audited as a unit, so we don’t have an opinion just on
this school. How do I answer the question about the audit opinion?
You should base your answer on the audit for the system since that audit includes your institution.
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13) How are revenues per student FTE and expenses per student FTE calculated, and why were they added to the
screens?
The calculation of these values takes the amounts reported for revenues and expenditures from the finance survey form and
divides those amounts by the 12 month FTE student enrollment from the 12 month enrollment survey that was completed in
the fall data collection. These calculated values are used by the system to compare the data reported by the institution to the
data of institutions that are in the same sector (e.g., public/private, 4-year/2-year) to see if the calculated value is an extreme
value that is too high or low. While it is not anticipated that your institution would have the same overall revenue or expenses,
this comparison may be useful for ensuring that all appropriate amounts have been included in the finance survey component,
or excluded when appropriate.
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Public Institutions Using GASB Standards
1)
Can public institutions report using FASB?
Yes, but only in very rare instances. Your finance/business officer will know which version of the finance component should be
completed.
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2)
What happens if I respond incorrectly to the reporting standards screening question?
You will get the wrong finance forms. If you find you have responded incorrectly, go back to the screening question and change
your response. When you save the screen the old data will disappear and the new correct forms will be available.
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3)
I see the term CV on several lines of the finance survey. What is this referring to?
CV is an abbreviation for Calculated Value. You do not need to enter an amount on this line. Once you click on Verify and Save,
the system will calculate the amount based on other data you have entered. A formula may be found in the same block where
you find the abbreviation CV.
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4)
Where did component units go?
Separate reporting was eliminated when institutions moved to the new aligned reporting that was mandatory starting in 201011. Because the reporting of component units is unique to institutions using GASB standards (mostly used by public institutions)
and not required by those using FASB standards (mostly private institutions), alignment would be better achieved if these units
were not included. However, component unit information should still be included when reporting endowment assets in Part H.
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5)
How do I report deferred outflows and deferred inflows in Part A: Statement of Financial Position?
In order to comply with GASB Statement 63, deferred outflows and deferred inflows will need to be reported in Part A:
Statement of Financial Position. Deferred outflows of resources should be included in Line 01 " Total Current Assets" and
deferred inflows of resources should be included in Line 09 "Total Current Liabilities." This will cause the total assets to equal
total assets plus deferred outflows of resources and total liabilities to equal total liabilities plus deferred inflows of resources.
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6)
We do not capitalize our library. Do I report it on Part A page 2?
If you do not capitalize it, do not report it in property, plant, and equipment.
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7)
If my institution is a GASB-reporter, where should my institution report the gain or loss on the sale of a plant
asset?
Such components in the changes in the net assets of the institution should be reflected in Line 05 in Part D - Summary of
Changes in Net Assets. Although this line is a calculated value that is entitled, Adjustments to beginning net assets, this is the
most appropriate place for these values to be captured (instead of as Other revenue or Other expenses in Part B or C). Although
this type of transaction is NOT an adjustment to beginning net assets, this is the best place for it to be captured in the IPEDS
finance component for comparability with FASB-reporters. Additionally, institutions having such type of transactions should
explain that in the context box available in Part D.
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8)
What are discounts and allowances (Part E)? (We don’t discount our tuition.)
Discounts and allowances are simply the part of scholarships used to pay institutional charges such as tuition and fees or room
and board. The difference between total scholarships (reported in the top part of Part E) and net scholarships expenses
(reported on Part C) is total discounts and allowances.
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9)
What are operating versus nonoperating revenues?
Operating revenues are received in exchange for goods or services provided, such as sales or tuition. The payer must also be
the one who receives the services. Nonoperating revenues result from “nonexchange transactions” such as donations, state
appropriations, tax revenues, and certain grants.
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10) We reported federal appropriations in operating revenues rather than non-operating revenues in our financial
statements. How should I report them on IPEDS?
Federal appropriations are usually accounted for as non-operating revenues, similarly to state appropriations. Amounts reported
as federal appropriations are intended to meet current operating expenses, and not generally intended for a specific purpose as
operating revenues are. If, however, the institution included the revenue in operating revenue, report it there for purposes of
IPEDS as well.
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11) My institution received funds from the American Recovery and Reinvestment Act (ARRA). Where should they
be reported?
GASB-reporting institutions should report ARRA revenues into the total included in Part B, line 19 (Total nonoperating
revenues).
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12) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
No, these VA education benefits should not be included as “federal grant” in the Finance revenue section or as “other federal
student grant aid” in the scholarship/fellowship section. They should be reported as "tuition and fees" revenue received from the
student. VA education benefits should also not be included as discounts/allowances.
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13) What are some examples of independent operations?
Independent operations include federally funded labs such as Argonne at the University of Chicago, the Livermore Labs in the
UC system, and the Jet Propulsion Lab at Cal Tech. These are major ancillary operations that are related to the primary
missions of instruction, research, and public service but they are so significant as to warrant separate classification.
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14) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
This amount is a calculated value. It is derived by subtracting the sum of the detail items above this amount from the total
below it. Negative amounts in these fields are caused when the total entered is less that the sum of the detail items entered.
Check for keying errors and recheck totals. Nonoperating expenses, such as interest on debt, should be reported on Part C.
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15) How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M),
and interest expenses to the other functional expense categories in Part C?
The National Association of College and University Business Officers (NACUBO) has prepared an advisory report (AR 2010-1),
entitled, Public Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest
Expenses to Functional Expense Categories http://www.nacubo.org/Documents/BusinessPolicyAreas/AR_2010_1.pdf to assist
public institutions in developing an approach to allocating these expenses among the functional expense categories. The
Advisory Report steps through a cost allocation approach. Because independent institutions have been allocating such costs for
more than a decade, the Report focuses on methods currently used by independent institutions.
Operation and maintenance expenses should still also be reported in their applicable natural categories, including salaries,
employee benefits, interest, depreciation, and all other expenses. The operations and maintenance column of the operations
and maintenance row must be the negative amount of total operations and maintenance.
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16) Why does operation and maintenance of plant appear as both a row and column in Part C (expenses and other
deductions)?
In the new aligned form for GASB institutions, operation and maintenance of plant appear as both a row and column in Part C
(expenses and other deductions). The row and column are designed to be used to show how the institution distributes operation
and maintenance (O&M) of plant expenses. The total row and column have zeroes for O&M. Consequently, the cell where the
O&M column and row intersect should be a negative number equal to the total O&M expenses of the institution.
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17) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce
costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
The $5 million dollars in expense should be reported in the Total amount of the Employee fringe benefits or Benefits (rather
than being allocated across the other functions such as Instruction, Research, or Institutional support). By doing so, the $5
million dollar expense will appear as an Other expenses & deductions within the benefits column. The consequence of this
reporting is that the one-time early retirement buyout will not affect the historical nature of total or benefits costs by function.
An explanation may also be added to the context box to explain this early retirement buyout. The Financial Accounting and
Reporting Manual (FARM) from the National Association of College and University Business Officers offers little guidance on this
topic. However, the FARM contains useful language from GASB (Statement 47) and FASB (Concept Statement 2) indicating that
such expenses should be treated as benefits: “In financial statements based on accrual accounting, employers should recognize
a liability and expense for voluntary termination benefits (for example, early-retirement incentives) when the offer has been
accepted and the amount can be estimated.”
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18) What are the impacts of GASB Statement 68 on IPEDS finance reporting? Are all institutions affected?
GASB Statement 68 will likely impact liabilities, expenses, resource deferrals, and ultimately net position for public institutions
or higher education systems that participate in their state’s defined benefit plan (agent or cost sharing), or have their own plan.
These institutions are advised:
•
In Part C, to allocate the unfunded pension and related expenses across the functional categories in column 3
(e.g., instruction, research, etc.), as reported on their GPFS.
Note that if a public institution does not have a defined benefit plan, there is no GASB 68 impact. Similarly, if a public institution
is part of a higher education system and the system reflects the additional unfunded pension expense and liability (and does not
allocate the expense and liability to the individual institutions), then there is also no impact from Statement 68 for the individual
public institution. Institutions with branch campuses that are not required to allocate pension expense and liabilities to each
campus will also not be impacted by GASB 68.
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19) Parts JKL: Why can't institutions report negative numbers in the census data sections?
Negative numbers would either belong on the opposite section, (e.g., a negative expenditure should be counted as a revenue),
or not reported if there were no cash exchange.
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20) Part J: Where should ARRA grants be counted?
Report ARRA grants under Part J, Line 03 (Federal Grants and Contracts).
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21) Part J: Should endowment funds held by component units be reported here?
While endowment funds held by component units are included with Part H, they should be excluded in Part J. Census
instructions state to "Exclude gifts to component units."
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Private Not-for-Profit and Public Institutions Using FASB
1)
I see the term CV on several lines of the finance survey. What is this referring to?
CV is an abbreviation for Calculated Value. You do not need to enter an amount on this line. Once you click on Verify and Save,
the system will calculate the amount based on other data you have entered. A formula may be found in the same block where
you find the abbreviation CV.
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2)
What value do I use to report plant, property, and equipment on the second page of Part A?
This is the book value (or the value reported in the accounting records) of these assets without consideration for accumulated
depreciation. This amount should be reported in the notes to the financial statements, or may be supplied by the
business/finance officer of the institution.
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3)
What are allowances in Part C (Scholarships and Fellowships)?
Allowances are the portion of scholarships awarded to students that are used to pay institutional charges such as tuition and
fees or room and board.
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4)
What is the difference between funded and unfunded institutional grants as reported on the Scholarships and
Fellowships part of the survey?
Funded grants are institutional resources restricted for student aid, such as scholarships and fellowships. They have been
restricted by an outside source such as a donor or contract. Unfunded institutional grants are those that are awarded to
students from unrestricted institutional resources.
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5)
Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
No, these VA education benefits should not be included as “federal grant” in the Finance revenue section or as “other federal
student grant aid” in the scholarship/fellowship section. They should be reported as "tuition and fees" revenue received from the
student. VA education benefits should also not be included as discounts/allowances.
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6)
My institution is primarily a hospital with a small instruction program. How should I report the hospital part
of my institution?
Hospitals with a small nursing school or radiologic technology program should report activity for the instructional program only.
The hospital revenues and expenses should not be included. If the instructional program revenues and expenses cannot be
separated from the hospital, contact the Help Desk for further options for reporting.
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7)
What are some examples of independent operations?
Independent operations include federally funded labs such as Argonne at the University of Chicago, the Livermore Labs in the
University of California system, and the Jet Propulsion Lab at Cal Tech. These are major ancillary operations that are related to
the primary missions of instruction, research, and public service but they are so significant as to warrant separate classification.
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8)
I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
This amount is a calculated value. It is derived by subtracting the sum of the detail items above this amount from the total
below it. Negative amounts in these fields are caused when the total entered is less that the sum of the detail items entered.
Check for keying errors and recheck totals.
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9)
How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M),
and interest expenses to the other functional expense categories in Part C?
The National Association of College and University Business Officers (NACUBO) has prepared an advisory report (AR 2010-1),
entitled, Public Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest
Expenses to Functional Expense Categories http://www.nacubo.org/Documents/BusinessPolicyAreas/AR_2010_1.pdf to assist
public institutions in developing an approach to allocating these expenses among the functional expense categories. The
Advisory Report steps through a cost allocation approach. Because independent institutions have been allocating such costs for
more than a decade, the Report focuses on methods currently used by independent institutions.
Operation and maintenance expenses should still also be reported in their applicable natural categories, including salaries,
employee benefits, interest, depreciation, and all other expenses. The operations and maintenance column of the operations
and maintenance row must be the negative amount of total operations and maintenance.
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10) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?
The row and column are designed to be used to show how the institution distributes operation and maintenance (O&M) of plant
expenses. Since not- for-profit accounting does not recognize O&M as a function, the total row and column have zeroes for
O&M. Consequently, the cell where the O&M column and row intersect should be a negative number equal to the total O&M
expenses of the institution.
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11) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce
costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
The $5 million dollars in expense should be reported in the Total amount of the Employee fringe benefits or Benefits (rather
than being allocated across the other functions such as Instruction, Research, or Institutional support). By doing so, the $5
million dollar expense will appear as an Other expenses & deductions within the benefits column. The consequence of this
reporting is that the one-time early retirement buyout will not affect the historical nature of total or benefits costs by function.
An explanation may also be added to the context box to explain this early retirement buyout. The Financial Accounting and
Reporting Manual (FARM) from the National Association of College and University Business Officers offers little guidance on this
topic. However, the FARM contains useful language from GASB (Statement 47) and FASB (Concept Statement 2) indicating that
such expenses should be treated as benefits: “In financial statements based on accrual accounting, employers should recognize
a liability and expense for voluntary termination benefits (for example, early-retirement incentives) when the offer has been
accepted and the amount can be estimated.”
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Private for-profit institutions
1) I see the term CV on several lines of the finance survey. What is this referring to?
CV is an abbreviation for Calculated Value. You do not need to enter an amount on this line. Once you click on Verify and Save,
the system will calculate the amount based on other data you have entered. A formula may be found in the same block where
you find the abbreviation CV.
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2) What income tax expenses should my institution report if I belong to both a multi-institution/multi-campus
organization and an IPEDS parent/child relationship?
If the institution can report combined tax expenses for itself and child institutions, it is encouraged to do so. However, if the
institution cannot dis-aggregate tax expenses for itself and child institutions to report, it may report the aggregate amount paid
by the multi-institution/multi-campus organization.
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3) What value do I use to report plant, property, and equipment on the second page of Part A?
This is the book value (or the value reported in the accounting records) of these assets without consideration for accumulated
depreciation. This amount should be reported in the notes to the financial statements, or may be supplied by the
business/finance officer of the institution.
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4) What are allowances in Part C (Scholarship and Fellowships)?
Allowances are the portion of scholarships awarded to students that are used to pay institutional charges such as tuition and
fees or room and board.
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5) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
No, these VA education benefits should not be included as “federal grant” in the Finance revenue section or as “other federal
student grant aid” in the scholarship/fellowship section. They should be reported as "tuition and fees" revenue received from the
student. VA education benefits should also not be included as discounts/allowances.
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6) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
This amount is a calculated value. It is derived by subtracting the sum of the detail items above this amount from the total
below it. Negative amounts in these fields are caused when the total entered is less that the sum of the detail items entered.
Check for keying errors and recheck totals.
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7) The financial records of my institution do not break down expenses the way they are listed on Part E. How do I
report expenses for my institution?
The National Association of College and University Business Officers (NACUBO) has prepared an advisory report (AR 2010-1),
entitled, Public Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest
Expenses to Functional Expense Categories http://www.nacubo.org/Documents/BusinessPolicyAreas/AR_2010_1.pdf to assist
public institutions in developing an approach to allocating these expenses among the functional expense categories. The
Advisory Report steps through a cost allocation approach. Because independent institutions have been allocating such costs for
more than a decade, the Report focuses on methods currently used by independent institutions.
Operation and maintenance expenses should still also be reported in their applicable natural categories,
including salaries, employee benefits, interest, depreciation, and all other expenses. The operations and
maintenance column of the operations and maintenance row must be the negative amount of total
operations and maintenance. If you need further assistance classifying your expenses, please call the Help Desk.
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8) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?
The row and column are designed to be used to show how the institution distributes operation and maintenance (O&M) of plant
expenses. Since not- for-profit accounting does not recognize O&M as a function, the total row and column have zeroes for
O&M. Consequently, the cell where the O&M column and row intersect should be a negative number equal to the total O&M
expenses of the institution.
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9) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce
costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
The $5 million dollars in expense should be reported in the Total amount of the Employee fringe benefits or Benefits (rather
than being allocated across the other functions such as Instruction, Research, or Institutional support). By doing so, the $5
million dollar expense will appear as an Other expenses & deductions within the benefits column. The consequence of this
reporting is that the one-time early retirement buyout will not affect the historical nature of total or benefits costs by function.
An explanation may also be added to the context box to explain this early retirement buyout. The Financial Accounting and
Reporting Manual (FARM) from the National Association of College and University Business Officers offers little guidance on this
topic. However, the FARM contains useful language from GASB (Statement 47) and FASB (Concept Statement 2) indicating that
such expenses should be treated as benefits: “In financial statements based on accrual accounting, employers should recognize
a liability and expense for voluntary termination benefits (for example, early-retirement incentives) when the offer has been
accepted and the amount can be estimated.”
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2015-16 Survey Materials > Narrative Edits
date: 8/4/2015
Finance for Degree-granting, Private for-profit institutions
Edit specifications for the 2015-16 IPEDS Web-Based Data Collection
Finance Component
Applicable to Degree-granting, Private for-profit FASB-reporting institutions that are NOT 'full children'
NOTE: The specifications in this document apply to the institutions listed above and related administrative offices.
Some sections and parts may not apply to your particular institution. Please read the specifications carefully to
determine which sections and/or parts apply to your institution.
All screens must be completed in order to lock the survey.
General Information
Financial Position
Part B: Summary of Changes in Equity
Part C: Student Grants
Part D: Revenues and Investment Return
Part E: Expenses by Function
General Information
On this screen, you must provide the following information. The answers given here will determine which screens your
institution is shown throughout the remainder of this survey.
•
•
•
•
•
Enter the Beginning date for your institution’s Fiscal Year Calendar by month (MM) and year (YYYY). The date
reported should be for the most recent fiscal year ending before October 1, 2015.
Enter the Ending date for your institution’s Fiscal Year Calendar by month (MM) and year (YYYY). The date reported
should be for the most recent fiscal year ending before October 1, 2015.
Indicate the type of audit opinion your institution received on its General Purpose Financial Statements for the fiscal
year specified above. You may choose from the following options:
◦ Unqualified
◦ Qualified (If this option is selected, then you must explain the nature of the qualification in the context box at
the bottom of the screen.)
◦ Don’t know (If this option is selected, then you must provide an explanation in the context box at the bottom
of the screen.)
Does your institution account for Pell grants as pass through transactions (a simple payment on the student’s account)
or as federal revenues to the institution? You may choose from the following options:
◦ Pass through (agency)
◦ Federal appropriations, grants, and contracts
◦ Does not award Pell grants
What type of business structure is the institution for tax purposes?
◦ Sole Proprietorship
◦ Partnership (General, Limited, Limited Liability)
◦ C Corporation (If this option is selected, then you must complete the Part F - Income Tax Expenses screen)
◦ S Corporation
◦ Limited Liability Company (LLC) (If this option is selected, then you must complete the Part F - Income Tax
Expenses screen)
The system will perform the following edits on the data entered:
•
•
•
•
•
•
•
The Month entered for the Beginning date of the fiscal year should be between 1 and 12.
The Month entered for the Ending date of the fiscal year should be between 1 and 12.
The Year entered for the Beginning date of the fiscal year should be either 2013 or 2014.
The Year entered for the Ending date of the fiscal year should be either 2014 or 2015.
The fiscal year Beginning date cannot be earlier than October 2013.
The fiscal year Ending date cannot be later than October 2015.
The fiscal year Ending date must be between 1 and 12 months later than the reported fiscal year Beginning date.
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Financial Position
Part F: Income Tax Expenses
Applicable to institutions that reported on the General Information screen that they are a C Corporation or LLC.
Enter the Current year amount for each of the following:
•
•
Federal income tax expenses (line 01)
State and local income tax expenses (line 02)
Next, designate who paid the reported tax expenses for your institution:
•
•
•
Taxes were aggregate amounts paid by the multi-institution or multi-campus organization indicated in IC Header for
all associated institutions
Taxes were aggregate amounts paid by a multi-institution or multi-campus organization NOT indicated in IC Header
for all associated institutions
Taxes were amounts paid by the reporting institution
The system will perform the following edits on the data entered:
•
•
•
The value reported for Federal income tax expenses (line 01) cannot be negative.
The value reported for State and local income tax expenses (line 02) cannot be negative.
If you indicated that your institution is not part of a multi-institution or multi-campus organization in the IC Header
survey, then you must select that Taxes were amounts paid by the reporting institution.
Part A: Balance Sheet Information, page 1
Applicable to institutions that are NOT partial children, amounts reported by parent institutions should include
ALL of the child institutions
On this screen, enter the Current year amount for each of the following:
•
•
•
•
•
•
Total assets (line 01)
Long term investments (line 01a)
Property plant, and equipment, net of accumulated depreciation (line 01b)
Intangible assets, net of accumulated amortization (line 01c)
Total liabilities (line 02)
Debt related to Property, Plant, and Equipment (line 02a)
Upon saving the screen, the system uses the above values to calculate additional information which may be used throughout
this survey. Prior year amounts are displayed for your reference.
The system will perform the following edits on the data entered:
•
•
•
•
•
•
•
•
•
•
•
•
A value must be entered for Total assets (line 01).
The value reported for Total assets is expected to be greater than 0.
The calculated value for Total assets is expected to be within a 50% range of the corresponding Prior year amount.
If the Prior year amount of Total assets is greater than 0, then the current year value may NOT be equal to that
amount.
The value reported for Long-term investments (line 01a) must be greater than 0.
The value reported for Long-term investments (line 01a) is expected to be less than or equal to the value reported
for Total assets (line 01).
A value must be entered for Total liabilities (line 02).
The value reported for Total liabilities is expected to be greater than 0.
The calculated value for Total liabilities is expected to be within a 50% range of the corresponding Prior year
amount.
If the Prior year amount of Total liabilities is greater than 0, then the current year value may NOT be equal to that
amount.
The value reported for Debt related to property, plant, and equipment (line 02a) cannot be negative.
The value reported for Debt related to property, plant, and equipment (line 02a) is expected to be less than or
equal to the value reported for Total liabilities (line 02).
Part A: Balance Sheet Information, page 2
Applicable to institutions that are NOT partial children, amounts reported by parent institutions should include
ALL of the child institutions
On this screen, enter the Ending balance for each of the following:
•
•
•
•
Land and land improvements (line 05)
Buildings (line 06)
Equipment, including art and library collections (line 07)
Construction in progress (line 08)
•
•
Other (line 09)
Accumulated depreciation (line 11)
Upon saving the screen, the system uses the first five items above to calculate a Total Plant, Property, and Equipment
value for use throughout this survey. Prior year amounts are displayed for your reference, as well as the Property, Plant,
and Equipment, net of accumulated depreciation value (line 12) from the Balance Sheet Information, Page 1 screen
outlined above.
The system will perform the following edits on the data entered:
•
•
•
•
•
•
The value reported for Land and land improvements (line 05) is expected to be greater than 0.
The value reported for Buildings (line 06) is expected to be greater than 0.
A value must be entered for Equipment, including art and library collections (line 07).
The value reported for Equipment, including art and library collections is expected to be greater than 0.
The calculated value for Total Plant, Property, and Equipment (line 10) is expected to be greater than 0.
The preloaded value for Property, Plant, and Equipment, net of accumulated depreciation (line 12) must be
equal to the difference between Total Plant, Property, and Equipment (line 10) and Accumulated depreciation (line
11).
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Part B: Summary of Changes in Equity
On this screen, you must report details about your institution’s changes in equity for the most recent 12-month fiscal year.
Note: If your institution is a partial parent, then the amounts reported on this screen should include ALL of your child
institutions.
Enter the Current year amount for each of the following:
•
•
•
•
•
Total revenues and investment return (line 01)
Total expenses (line 02)
Net income (line 04)
Other changes in equity (line 05)
Equity, beginning of year (line 06)
Upon saving the screen, the system uses the above values to calculate additional information which may be used throughout
this survey. Prior year amounts are displayed for your reference, as well as the Equity, end of year value from Part A of this
survey.
The system will perform the following edits on the data entered:
•
•
•
•
•
•
•
•
•
The value reported for Total revenues and investment return (line 01) must be greater than 0.
The value reported for Total revenues and investment return is expected to be within a 30% range of the
corresponding Prior year amount.
If the Prior year amount of Total revenues and investment return is greater than 0, then the current year value
may NOT be equal to that amount.
The value reported for Total expenses (line 02) must be greater than 0.
The value reported for Total expenses is expected to be within a 30% range of the corresponding Prior year
amount.
If the Prior year amount of Total expenses is greater than 0, then the current year value may NOT be equal to
that amount.
If your institution is NOT an administrative office, and the value reported for Total expenses (line 02) is greater than
10 million, then the value reported for Total revenues (line 01) is expected to be less than 150% of that amount.
A value must be entered for Net income (line 04).
If the Prior year amount of Equity, end of year (line 08) is greater than 0, then the current year value reported for
Equity, beginning of year (line 06) is expected to be equal to that amount.
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Part C: Student Grants
On this screen, you must report details about your institution’s scholarship and fellowship expenses for the most recent 12month fiscal year.
Enter the Current year amount for each of the following:
•
•
•
•
•
•
•
Pell grants, federal (line 01)
Other federal grants, do not include FDSL amounts (line 02)
State and local grants, government, state grants (line 03a)
State and local grants, government, local grants (line 03b)
Institutional grants (line 04)
Allowances applied to tuition and fees (line 06)
Allowances applied to auxiliary enterprise revenues (line 07)
Upon saving the screen, the system uses the first four items above to calculate the Total scholarships and fellowships
(line 05) value for use throughout this survey. Prior year amounts are displayed for your reference.
The system will perform the following edits on the data entered:
•
•
•
•
•
•
If Federal grant revenue was selected for Question 3 on the General Information screen, then the value reported
for Pell grants (line 01) is expected to be greater than 0.
The calculated value for Total scholarships and fellowships (line 05) is expected to be greater than 0.
If the Prior year amount of Total scholarships and fellowships is greater than 0, then the current year value
may NOT be equal to that amount.
The calculated value for Total scholarships and fellowships is expected to be within a 50% range of the
corresponding Prior year amount.
The calculated value for Total scholarships and fellowships must be greater than or equal to the sum of
Allowances applied to tuition and fees (line 06) and Allowances applied to auxiliary enterprise revenues
(line 07).
If Pass through (agency) was selected for Question 3 on the General Information screen, then the sum of
Allowances applied to tuition and fees (line 06) and Allowances applied to auxiliary enterprise revenues
(line 07) must be less than or equal to the amount of Total scholarships and fellowships (line 05) minus the
amount reported for Pell grants (line 01).
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Part D: Revenues and Investment Return
For Part D, you must report your institution’s revenues by source for the most recent 12-month fiscal year.
Applicable to 4-year institutions
On this screen, enter the Current year amount for each of the following:
•
•
•
•
•
•
•
•
•
•
•
•
Tuition and fees, net amount reported in Part C, line 06 (line 01)
Federal appropriations (line 02a)
Federal grants and contracts (line 02b)
State appropriations (line 03a)
State grants and contracts (line 03b)
Local appropriations (line 03c)
Local government grants and contracts (line 03d)
Private gifts grants and contracts (line 04)
Investment income and investment gains (losses) included in the net income (line 05)
Sales and services of educational activities (line 06)
Sales and services of auxiliary enterprises, net of amount reported in Part C, line 07 (line 07)
Hospital revenue (line 12)
If your institution is a partial child or partial parent, then you must also report an amount for Total revenues and
investment return (line 09). Otherwise, this information is preloaded from Part B of this survey.
Upon saving the screen, the system will use the above values to calculate the amount of Other revenue (line 08). The Prior
Year Total Amount for each source of funding is displayed for your reference.
Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 10). This value
is used in combination with the reported data to calculate the Total revenues and investment return per student FTE
(line 11).
The system will perform the following edits on the data entered:
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•
•
•
•
•
•
•
•
•
A value must be entered for Tuition and fees (line 01).
The value reported for Tuition and fees is expected to be greater than 0.
The value reported for Tuition and fees is expected to be within a 50% range of the corresponding Prior year
amount.
The amount entered for Tuition and fees (line 01) in Part D cannot be equal to the amount entered for Allowances
applied to Tuition and fees (line 06) in Part C.
If the value reported for Allowances applied to auxiliary enterprise revenues in Part C of this survey is greater
than 0, then the value reported for Sales and services of auxiliary enterprises (line 07) on this screen is expected
to be greater than 0.
The amount calculated for Other Revenue (line 08) cannot be negative.
The amount calculated for Other Revenue is expected to be less than or equal to 75% of the Total revenues and
investment return (line 09) value.
If your institution is a partial child or partial parent, then the amount reported for Total revenues and investment
return (line 09) must be greater than 0.
If your institution is a partial child or partial parent, then the amount reported for Total revenues and investment
return (line 09) is expected to be within a 30% range of the corresponding Prior year amount.
If your institution is a partial child or partial parent, and the Prior year amount of Total revenues and investment
return is greater than 0, then the current year value may NOT be equal to that amount.
•
•
If your institution is a partial child or partial parent, and a value greater than 0 is reported for Total revenues and
investment return in Part B, then the value reported for Total revenues and investment return in Part B of this
survey must be greater than the value reported for Total revenues and investment return (line 09) on this screen.
If a value greater than 0 is preloaded for 12-month student FTE from E12 (line 10), then the value calculated for
Total revenues and investment return per student FTE (line 11) is expected to be between 4,000 and 60,000. If
the value is greater than 75,000, then a fatal error will occur.
Applicable to 2-year institutions, and all administrative offices
On this screen, enter the Current year amount for each of the following:
•
•
•
•
•
•
•
•
•
•
•
Tuition and fees, net amount reported in Part C, line 06 (line 01)
Federal appropriations (line 02a)
Federal grants and contracts (line 02b)
State appropriations (line 03a)
State grants and contracts (line 03b)
Local appropriations (line 03c)
Local government grants and contracts (line 03d)
Private gifts grants and contracts (line 04)
Investment income and investment gains (losses) included in the net income (line 05)
Sales and services of educational activities (line 06)
Sales and services of auxiliary enterprises, net of amount reported in Part C, line 07 (line 07)
If your institution is a partial child or partial parent, then you must also report an amount for Total revenues and
investment return (line 09). Otherwise, this information is preloaded from Part B of this survey.
Upon saving the screen, the system will use the above values to calculate the amount of Other revenue (line 08). The Prior
Year Total Amount for each source of funding is displayed for your reference.
Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 10). This value
is used in combination with the reported data to calculate the Total revenues and investment return per student FTE
(line 11).
The system will perform the following edits on the data entered:
•
•
•
•
•
•
•
•
•
•
•
•
If your institution is NOT an administrative office, then a value must be entered for Tuition and fees (line 01).
If your institution is NOT an administrative office, then the value reported for Tuition and fees is expected to be
greater than 0.
The value reported for Tuition and fees is expected to be within a 50% range of the corresponding Prior year
amount.
The amount entered for Tuition and fees (line 01) in Part D cannot be equal to the amount entered for Allowances
applied to Tuition and fees (line 06) in Part C.
If the value reported for Allowances applied to auxiliary enterprise revenues in Part C of this survey is greater
than 0, then the value reported for Sales and services of auxiliary enterprises (line 07) on this screen is expected
to be greater than 0.
The amount calculated for Other Revenue (line 08) cannot be negative.
The amount calculated for Other Revenue is expected to be less than or equal to 75% of the Total revenues and
investment return (line 09) value.
If your institution is a partial child or partial parent, then the amount reported for Total revenues and investment
return (line 09) must be greater than 0.
If your institution is a partial child or partial parent, then the amount reported for Total revenues and investment
return (line 09) is expected to be within a 30% range of the corresponding Prior year amount.
If your institution is a partial child or partial parent, and the Prior year amount of Total revenues and investment
return is greater than 0, then the current year value may NOT be equal to that amount.
If your institution is a partial child or partial parent, and a value greater than 0 is reported for Total revenues and
investment return in Part B, then the value reported for Total revenues and investment return in Part B of this
survey must be greater than the value reported for Total revenues and investment return (line 09) on this screen.
If a value greater than 0 is preloaded for 12-month student FTE from E12 (line 10), then the value calculated for
Total revenues and investment return per student FTE (line 11) is expected to be between 2,500 and 60,000. If
the value is greater than 75,000, then a fatal error will occur.
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Part E: Expenses by Function
For Part E, you must report your institution’s expenses by function for the most recent 12-month fiscal year.
Applicable to 4-year institutions
For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,
Depreciation, and Interest), enter the amount of operating and non-operating expenses incurred in each of the following
functional categories:
•
•
•
Instruction (line 01)
Research (line 02a)
Public service (line 02b)
•
•
•
•
•
•
•
Academic support (line 03a)
Student services (line 03b)
Institutional support (line 03c)
Auxiliary enterprises (line 04)
Net grant aid to students, net of allowances for tuition and fee and auxiliary enterprises (line 05)
Hospital services (line 10)
Operation and maintenance of plant (line 11)
If your institution is a partial child or partial parent, then you must also report a Total amount for Total expenses (line 07).
Otherwise, this information is preloaded from Part B of this survey.
Upon saving the screen, the system will use the above values to calculate the amount of All other expenses (column 7)
within each functional category, and the amount of Other expenses (line 06) incurred by expense type. For your reference,
the PY Total Amount for some functional category are also displayed, along with the Total amount (column 1) of Prior
year total expenses.
Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 08). This value
is used in combination with the reported data to calculate the Total expenses per student FTE (line 09).
The system will perform the following edits on the data entered:
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
For each functional category, the values reported for each expense type must be less than or equal to the Total
amount (column 1) reported for that category.
For each expense type and functional category, the value reported cannot be negative; with the following exception:
◦ The Operation and maintenance of plant expense type (column 4) in the Operation and maintenance of
plant category (line 11).
A Total Amount (column 1) must be entered for Instruction (line 01).
The Total amount (column 1) reported for Instruction (line 01) is expected to be greater than 0.
The Total Amount reported for Instruction (line 01) is expected to be within a 50% range of the corresponding PY
Total Amount (column 8).
A Total Amount (column 1) must be entered for Academic support (line 03a).
A Total Amount (column 1) must be entered for Student Services (line 03b).
A Total Amount (column 1) must be entered for Institutional support (line 03c).
The Total Amount reported for Auxiliary enterprises (line 04) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount reported for Net grant aid to students is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount (column 1) calculated for Other expenses (line 06) is expected to be less than or equal to 75%
of the Total amount (column 1) reported for Total expenses (line 07).
If your institution is a partial child or partial parent, then the Total Amount (column 1) reported for Total expenses
(line 07) must be greater than 0.
If your institution is a partial child or partial parent, and the Total amount of Prior year total expenses is greater
than 0, then the Total Amount (column 1) reported for Total expenses (line 07) may NOT be equal to that amount.
If your institution is a partial child or partial parent, then the Total amount (column 1) reported for Total expenses
(line 07) is expected to be within a 30% range of the corresponding Prior Year total expenses.
A Salaries and wages value (column 2) must be entered for the following expense types:
◦ Instruction (line 01)
◦ Academic support (line 03a)
◦ Student services (line 03b)
◦ Institutional support (line 03c)
The Salaries and wages (column 2) reported for Instruction (line 01) is expected to be greater than 0.
The Salaries and wages (column 2) reported for Total expenses (line 07) must be greater than 0.
If the value reported for the Operation and maintenance of plant expense type (column 4) in the Operation and
maintenance of plant category (line 11) is less than -1 million, then the amount reported for Instruction (line 01)
in column 4 must be within a range of -10% to -70% of the absolute value of that amount.
If a value greater than 0 is reported on any line for the Operation and maintenance of plant expense type (column
4), then the value reported for the Operation and maintenance of plant expense type (column 4) in the
Operation and maintenance of plant category (line 11) on this screen must be negative.
If the Total expenses (line 07) reported for Depreciation (column 5) is greater than 1 million, then the amount
allocated to Instruction (line 01) must be between 10% and 70% of the total amount.
If the Total expenses reported for Depreciation (column 5) is greater than 1 million, then the value calculated for
Other expenses (line 06) must be less than 50% of the total amount.
If the Total expenses (line 07) reported for Interest (column 6) is greater than 1 million, then the amount allocated
to Instruction (line 01) must be between 10% and 70% of the total amount.
If the Total expenses reported for Interest (column 6) is greater than 1 million, then the value calculated for Other
expenses (line 06) must be less than 50% of the total amount.
If a value greater than 0 is preloaded for the 12-month Student FTE from E12 (line 08), then the value calculated
for Total expenses per student FTE (line 09) is expected to be between 3,000 and 100,000. If the value is greater
than 125,000, then a fatal error will occur.
The following edits will compare the data entered on this screen to other parts of the Finance component:
•
•
•
•
•
•
•
•
If the value reported for Sales and services of auxiliary enterprises on the Operating Revenues screen in Part
B of this survey is equal to 0, then the Total amount (column 1) reported for Auxiliary enterprises (line 04) on this
screen is also expected to be equal to 0.
The Total Amount reported for Net grant aid to students (line 05) on this screen must be less than or equal to the
difference between Total scholarships and fellowships and the sum of Allowances (scholarships) applied to
tuition and fees and Allowances (scholarships) applied to auxiliary enterprise revenues reported in Part C of
this survey.
If the value reported for Sales and services of hospitals on the Operating Revenues screen in Part B of this
survey is equal to 0, then the Total amount (column 1) reported for Hospital services (line 10) on this screen is
also expected to be equal to 0.
If your institution is a partial child or partial parent, and a value greater than 0 is reported for Total expenses in
Part B, then the Total amount (column 1) reported for Total expenses (line 07) on this screen must be less than
that amount.
If your institution is a partial child or partial parent, and the Total amount (column 1) reported for Total expenses
(line 07) on this screen is greater than 10 million, then the value reported for Total revenues and investment
return in Part D of this survey is expected to be less than 150% of that amount.
If the Total for Plant, Property and Equipment calculated on the Statement of Net Assets, Page 2 screen in
Part A of this survey is greater than 10 million, then the value reported for the Operation and maintenance of
plant expense type (column 4) in the Operation and maintenance of plant category (line 11) on this screen must
be negative.
If the Total for Plant Property and Equipment reported in Part A of this survey is greater than 10 million, then
the Total expenses (line 07) reported for Depreciation (column 5) must be greater than 0.
If the Long term debt reported in Part A of this survey is greater than 1 million, then the Total expenses (line 07)
reported for Interest (column 6) must be greater than 0.
Applicable to 2-year institutions
For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,
Depreciation, and Interest), enter the amount of operating and non-operating expenses incurred in each of the following
functional categories:
•
•
•
•
•
•
•
•
•
Instruction (line 01)
Research (line 02a)
Public service (line 02b)
Academic support (line 03a)
Student services (line 03b)
Institutional support (line 03c)
Auxiliary enterprises (line 04)
Net grant aid to students, net of allowances for tuition and fee and auxiliary enterprises (line 05)
Operation and maintenance of plant (line 11)
If your institution is a partial child or partial parent, then you must also report a Total amount for Total expenses (line 07).
Otherwise, this information is preloaded from Part B of this survey.
Upon saving the screen, the system will use the above values to calculate the amount of All other expenses (column 7)
within each functional category, and the amount of Other expenses (line 06) incurred by expense type. For your reference,
the PY Total Amount for some functional category are also displayed, along with the Total amount (column 1) of Prior
year total expenses.
Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 08). This value
is used in combination with the reported data to calculate the Total expenses per student FTE (line 09).
The system will perform the following edits on the data entered:
•
•
•
•
•
•
•
•
•
•
•
•
For each functional category, the values reported for each expense type must be less than or equal to the Total
amount (column 1) reported for that category.
For each expense type and functional category, the value reported cannot be negative ; with the following exception:
◦ The Operation and maintenance of plant expense type (column 4) in the Operation and maintenance of
plant category (line 11).
A Total Amount (column 1) must be entered for Instruction (line 01).
The Total amount (column 1) reported for Instruction (line 01) is expected to be greater than 0.
The Total Amount reported for Instruction (line 01) is expected to be within a 50% range of the corresponding PY
Total Amount (column 8).
A Total Amount (column 1) must be entered for Academic support (line 03a).
A Total Amount (column 1) must be entered for Student Services (line 03b).
A Total Amount (column 1) must be entered for Institutional support (line 03c).
The Total Amount reported for Auxiliary enterprises (line 04) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount reported for Net grant aid to students is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount (column 1) calculated for Other expenses (line 06) is expected to be less than or equal to 75%
of the Total amount (column 1) reported for Total expenses (line 07).
If your institution is a partial child or partial parent, then the Total amount (column 1) reported for Total expenses
(line 07) must be greater than 0.
•
•
•
•
•
•
•
•
•
•
•
•
If your institution is a partial child or partial parent, and the Total amount of Prior year total expenses is greater
than 0, then the Total Amount (column 1) reported for Total expenses (line 07) may NOT be equal to that amount.
If your institution is a partial child or partial parent, then the Total amount (column 1) reported for Total expenses
(line 07) is expected to be within a 30% range of the corresponding Prior Year total expenses.
A Salaries and wages value (column 2) must be entered for the following expense types:
◦ Instruction (line 01)
◦ Academic support (line 03a)
◦ Student services (line 03b)
◦ Institutional support (line 03c)
The Salaries and wages (column 2) reported for Instruction (line 01) is expected to be greater than 0.
The Salaries and wages (column 2) reported for Total expenses (line 07) must be greater than 0.
If the value reported for the Operation and maintenance of plant expense type (column 4) in the Operation and
maintenance of plant category (line 11) is less than -1 million, then the amount reported for Instruction (line 01)
in column 4 must be within a range of -10% to -70% of the absolute value of that amount.
If a value greater than 0 is reported on any line for the Operation and maintenance of plant expense type (column
4), then the value reported for the Operation and maintenance of plant expense type (column 4) in the
Operation and maintenance of plant category (line 11) on this screen must be negative.
If the Total expenses (line 07) reported for Depreciation (column 5) is greater than 1 million, then the amount
allocated to Instruction (line 01) must be between 10% and 70% of the total amount.
If the Total expenses reported for Depreciation (column 5) is greater than 1 million, then the value calculated for
Other expenses (line 06) must be less than 50% of the total amount.
If the Total expenses (line 07) reported for Interest (column 6) is greater than 1 million, then the amount allocated
to Instruction (line 01) must be between 10% and 70% of the total amount.
If the Total expenses reported for Interest (column 6) is greater than 1 million, then the value calculated for Other
expenses (line 06) must be less than 50% of the total amount.
If a value greater than 0 is preloaded for the 12-month Student FTE from E12 (line 08), then the value calculated
for Total expenses per student FTE (line 09) is expected to be between 1,500 and 65,000. If the value is greater
than 80,000, then a fatal error will occur.
The following edits will compare the data entered on this screen to other parts of the Finance component:
•
•
•
•
•
•
•
If the value reported for Sales and services of auxiliary enterprises on the Operating Revenues screen in Part
B of this survey is equal to 0, then the Total amount (column 1) reported for Auxiliary enterprises (line 04) on this
screen is also expected to be equal to 0.
The Total Amount reported for Net grant aid to students (line 05) on this screen must be less than or equal to the
difference between Total scholarships and fellowships and the sum of Allowances (scholarships) applied to
tuition and fees and Allowances (scholarships) applied to auxiliary enterprise revenues reported in Part C of
this survey.
If your institution is a partial child or partial parent, and a value greater than 0 is reported for Total expenses in
Part B, then the Total amount (column 1) reported for Total expenses (line 07) on this screen must be less than
that amount.
If your institution is a partial child or partial parent, and the Total amount (column 1) reported for Total expenses
(line 07) on this screen is greater than 10 million, then the value reported for Total revenues and investment
return in Part D of this survey is expected to be less than 150% of that amount.
If the Total for Plant, Property and Equipment calculated on the Statement of Net Assets, Page 2 screen in
Part A of this survey is greater than 10 million, then the value reported for the Operation and maintenance of
plant expense type (column 4) in the Operation and maintenance of plant category (line 11) on this screen must
be negative.
If the Total for Plant Property and Equipment reported in Part A of this survey is greater than 10 million, then
the Total expenses (line 07) reported for Depreciation (column 5) must be greater than 0.
If the Long term debt reported in Part A of this survey is greater than 1 million, then the Total expenses (line 07)
reported for Interest (column 6) must be greater than 0.
Applicable to administrative offices that are not full parents
For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,
Depreciation, and Interest), enter the amount of operating and non-operating expenses incurred in each of the following
functional categories:
•
•
•
•
•
•
•
•
•
Instruction (line 01)
Research (line 02a)
Public service (line 02b)
Academic support (line 03a)
Student services (line 03b)
Institutional support (line 03c)
Auxiliary enterprises (line 04)
Net grant aid to students, net of allowances for tuition and fee and auxiliary enterprises (line 05)
Operation and maintenance of plant (line 11)
If your institution is a partial child or partial parent, then you must also report a Total amount for Total expenses (line 07).
Otherwise, this information is preloaded from Part B of this survey.
Upon saving the screen, the system will use the above values to calculate the amount of All other expenses (column 7)
within each functional category, and the amount of Other expenses (line 06) incurred by expense type. For your reference,
the PY Total Amount for some functional category are also displayed, along with the Total amount (column 1) of Prior
year total expenses.
Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 08). This value
is used in combination with the reported data to calculate the Total expenses per student FTE (line 09).
The system will perform the following edits on the data entered:
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
For each functional category, the values reported for each expense type must be less than or equal to the Total
amount (column 1) reported for that category.
For each expense type and functional category, the value reported cannot be negative ; with the following exception:
◦ The Operation and maintenance of plant expense type (column 4) in the Operation and maintenance of
plant category (line 11).
If the amount reported for Tuition and fees in Part D of this survey is equal to 0, then the values reported for
Instruction (line 01) on this screen are also expected to be equal to 0 for the following expense types:
◦ Total amount (column 1)
◦ Salaries and wages (column 2)
◦ Benefits (column 3)
◦ Operation and maintenance of plant (column 4)
◦ Depreciation (column 5)
◦ Interest (column 6)
The Total Amount reported for Instruction (line 01) is expected to be within a 50% range of the corresponding PY
Total Amount (column 8).
A Total Amount (column 1) must be entered for Academic support (line 03a).
A Total Amount (column 1) must be entered for Student Services (line 03b).
A Total Amount (column 1) must be entered for Institutional support (line 03c).
The Total Amount reported for Auxiliary enterprises (line 04) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
If the value reported for Sales and services of auxiliary enterprises on the Operating Revenues screen in Part
B of this survey is equal to 0, then the Total amount (column 1) reported for Auxiliary enterprises (line 04) on this
screen is also expected to be equal to 0.
The Total Amount reported for Net grant aid to students (line 05) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount reported for Net grant aid to students (line 05) on this screen must be less than or equal to the
difference between Total scholarships and fellowships and the sum of Allowances (scholarships) applied to
tuition and fees and Allowances (scholarships) applied to auxiliary enterprise revenues reported in Part C of
this survey.
The Total Amount (column 1) calculated for Other expenses (line 06) is expected to be less than or equal to 75%
of the Total amount (column 1) reported for Total expenses (line 07).
If your institution is a partial child or partial parent, then the Total amount (column 1) reported for Total expenses
(line 07) must be greater than 0.
If your institution is a partial child or partial parent, and the Total amount of Prior year total expenses is greater
than 0, then the Total Amount (column 1) reported for Total expenses (line 07) may NOT be equal to that amount.
If your institution is a partial child or partial parent, then the Total amount (column 1) reported for Total expenses
(line 07) is expected to be within a 30% range of the corresponding Prior Year total expenses.
If your institution is a partial child or partial parent, and a value greater than 0 is reported for Total expenses in
Part B, then the Total amount (column 1) reported for Total expenses (line 07) on this screen must be less than
that amount.
A Salaries and wages value (column 2) must be entered for the following expense types:
◦ Academic support (line 03a)
◦ Student services (line 03b)
◦ Institutional support (line 03c)
The Salaries and wages (column 2) reported for Total expenses (line 07) must be greater than 0.
If a value greater than 0 is reported on any line for the Operation and maintenance of plant expense type (column
4), then the value reported for the Operation and maintenance of plant expense type (column 4) in the
Operation and maintenance of plant category (line 11) on this screen must be negative.
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NCES National Center for Education Statistics
2015-16 Survey Materials > Form
date: 8/4/2015
Finance for degree-granting private, not-for-profit institutions and public
institutions using FASB Reporting Standards
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.
There are no new changes to the 2015-16 Finance data collection. However, a new FAQ clarifying how to report VA
education benefits has been added for all institutions. For GASB institutions, instructions for parts J,K,L have been
slightly modified for clarity and new FAQs have been added referencing implementation of GASB Statements 67 & 68
and parts J,K,L.
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.
Finance - Private not-for-profit institutions and Public institutions using FASB standards
FASB-Reporting Institutions
General Information - Fiscal Year and Audit
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 Calendar
This 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, 2015.)
Beginning: month/year (MMYYYY)
Month:
Year:
And ending: month/year (MMYYYY)
Month:
Year:
2. Audit Opinion
Did 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.)
Unqualified
Don't know (Explain in box below)
Qualified (Explain in box
below)
3. Does this institution or any of its foundations or other affiliated organizations own endowment assets ?
No
Yes (report endowment assets)
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. Does your institution account for Pell grants as pass through transactions (a simple payment on the
student's account) or as federal grant revenues to the institution?
Federal grant revenue
Does not award Pell grants
Pass through (agency)
You may use the space below to provide context for the data you've reported above.
Part A - Statement of Financial Position, Page 1
Most recent fiscal year ending before October 2015
If your institution is a parent institution then the amounts reported in Parts A and B should include ALL of your
child institutions
Line No.
Assets, Liabilities, and Net Assets
Current year amount
Prior year amount
Assets
01
Long-term investments
19
20
Property, plant, and equipment, net of accumulated
depreciation
Intangible assets, net of accumulated amortization
02
Total assets
03
Liabilities
Total liabilities
03a Debt related to Property, Plant, and Equipment
04
05
Net assets
Unrestricted net assets
Total restricted net assets
05a Permanently restricted net assets
05b Temporarily restricted net assets
06
Total net assets (CV=A04+A05)
You may use the space below to provide context for the data you've reported above.
Part A - Statement of Financial Position, Page 2
Most recent fiscal year ending before October 2015
Ending
balance
Plant, Property and Equipment
Line
No.
11 Land and land improvements
12
Buildings
13
Equipment, including art and library collections
15
Construction in Progress
16
Other
17
Total Plant, Property, and Equipment
CV=[(A11+...A16)]
Accumulated depreciation
18
19
Property, Plant, and Equipment, net of accumulated depreciation
(from A19)
You may use the space below to provide context for the data you've reported above.
Prior year Ending
balance
Part B - Summary of Changes in Net Assets
Most recent fiscal year ending before October 2015
Line No.
Revenues, Expenses, Gains and Losses
Current year amount
01
Total revenues and investment return
02
Total expenses
03
04
Other specific changes in net assets
CV=[B04-(B01-B02)]
Change in net assets
05
Net assets, beginning of year
06
Adjustments to beginning of year net
assets
CV=[B07-(B04+B05)]
Net assets, end of year (from A06)
07
You may use the space below to provide context for the data you've reported above.
Prior year amount
Part C - Scholarships and Fellowships
Most recent fiscal year ending before October 2015
DO NOT REPORT FEDERAL DIRECT STUDENT LOANS (FDSL) ANYWHERE IN THIS SECTION
Line No.
Scholarships and Fellowships
Current year amount Prior year amount
01
Pell grants (federal)
02
Other federal grants Do NOT include FDSL amounts
03
State grants
04
Local grants (government)
05
Institutional grants (funded)
06
Institutional grants (unfunded)
07
08
Total scholarships and fellowships
CV=[C01+...+C06]
Allowances (scholarships) applied to tuition and fees
09
Allowances (scholarships) applied to auxiliary enterprise revenues
You may use the space below to provide context for the data you've reported above.
Part D - Revenues and Investment Return
Most recent fiscal year ending before October 2015
Line
No.
Source of Funds
Total Unrestricted Temporarily
Amount
restricted
Permanently
restricted
01 Tuition and fees (net of allowance
reported in Part C, line 08)
Government Appropriations
02 Federal appropriations
03 State appropriations
04 Local appropriations
Government Grants and Contracts
05 Federal grants and contracts (Do not
include FDSL)
06 State grants and contracts
07 Local government grants and contracts
Private Gifts, Grants and Contracts
08 Private gifts, grants and contracts
08a Private gifts
08b
Private grants and contracts
09 Contributions from affiliated entities
Other Revenue
10 Investment return
11 Sales and services of educational
activities
12 Sales and services of auxiliary
enterprises
(net of allowance reported in Part C,
line 09)
13 Hospital revenue
14 Independent operations revenue
15 Other revenue
CV=[D16-(D01+...+D14)]
16 Total revenues and investment
return (from B01)
17 Net assets released from restriction
0
18 Net total revenues, after assets
released from restriction
19 12-month Student FTE from E12
20 Total revenues and investment return
per student FTE CV=[D16/D19]
You may use the space below to provide context for the data you've reported above.
Prior Year
Total
Amount
Part E - Expenses by Functional and Natural Classification
Line Expenses by
No. Functional
Classification
Most recent fiscal year ending before October 2015
Report Total Operating AND Non-Operating Expenses in this section
(1)
(2)
(3)
(4)
(5)
(6)
Total
Salaries
Employee Operation
Depreciation Interest
amount
and wages fringe
and
benefits
maintenance
of plant
01 Instruction
02 Research
03 Public service
04 Academic support
05 Student services
06 Institutional support
07 Auxiliary enterprises
08 Net grant aid to students
(net of allowances for
tuition & fee and
auxiliary enterprises)
09 Hospital services
10 Independent operations
11 Operation and
0
maintenance of plant
(see instructions)
12 Other expenses
CV=[E13-(E01+...+E11)]
13 Total expenses
0
(from B02)
Prior year total
expenses
14 12-month Student FTE
from E12
15 Total expenses per
student FTE
CV=[E13/E14]
You may use the space below to provide context for the data you've reported above.
(7)
(8)
All PY
other Total
Amount
Part H - Value of Endowment Assets
Most recent fiscal year ending before October 2015
Value of Endowment Assets
Line
No.
01
Include not only endowment assets held by the institution, but any assets held by
private foundations affiliated with the institution.
Value of endowment assets at the beginning of the fiscal year
02
Value of endowment assets at the end of the fiscal year
Market
Value
Prior Year
Amounts
You may use the space below to provide context for the data you've reported above.
U.S. Department of Education
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IPEDS Help Desk
(877) 225-2568 or [email protected]
NCES National Center for Education Statistics
2015-16 Survey Materials > Instructions
date: 8/4/2015
Finance Not-for-Profit (FASB)
Purpose of Component
Changes in Reporting for 2015-16
General Instructions
Reporting Period Covered
Context Boxes
Coverage
What to Include
What Not to Include
Reporting with "Parent" and "Child" Relationships
Where to Get Help for Reporting
Where to Get Additional Help for Finance
Where the Reported Data Will Appear
Detailed Instructions
General Information
Part A: Statement of Financial Position
Part B: Summary of Changes in Net Assets
Part C: Scholarships and Fellowships
Part D: Revenues and Investment Return
Part E: Expenses by Functional and Natural Classification
Part H: Endowment Assets
Purpose of Component
The purpose of the IPEDS Finance component is to collect basic financial information from items associated with the
institution's General Purpose Financial Statements (GPFS). Item areas include:
•
•
•
•
•
•
Statement of Financial Position
Summary of Changes in Net Assets
Scholarships and Fellowships
Revenues and Investment Return
Expenses by Functional and Natural Classification
Details of Endowment Assets
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Changes in Reporting
There have been no changes to the 2015-16 Finance data collection from the 2014-15 collection. However, a new FAQ
clarifying how to report VA education benefits has been added for all institutions.
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General Instructions
Reporting Period Covered
The starting point for reporting should be amounts reported in the GPFS for the most recent fiscal year ending
before October 1, 2015. For institutions with fiscal years ending on December 31, this would be the calendar year
2014.
About the Data
Data providers for this component should be familiar with college and university accounting policies and practices as
described by the National Association of College and University Business Officers (NACUBO). To provide additional
help, accounting terms are underlined and linked to definitions found in the online glossary.
Four different types of data appear in this component. There are data:
•
•
•
•
Institutions provide from their GPFS and/or underlying records.
That are prior year data, shown in red, which can be used as a comparison with the current year's data being
reported.
That are carried forward from one part of the component to another part to insure that the data are internally
consistent.
Calculated from the other data elements.
In the latter two cases, the data provider is requested to check that the carried forward data and the calculated data
are consistent with the data found in the institution's GPFS. If the data carried forward or calculated are not consistent
with the institution's GPFS, then an error in data entry may have occurred.
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Context Boxes
Context boxes are provided to allow institutions to provide more information regarding survey component items. Note
that some context boxes are posted on the College Navigator Website, which is the college search tool offered by
NCES. NCES will review entries in these context boxes for applicability and appropriateness before posting them on the
College Navigator Website; institutions should check grammar and spelling of their entries.
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Coverage
What to Include
The reporting entity's financial accounting policies and procedures should be the beginning basis for reporting to this
IPEDS survey component. However, deviations from the GPFS may be required to respond to this IPEDS survey
component. Some of these deviations include:
•
•
•
•
•
If financial categories in the institution’s GPFS are more aggregated than required for this IPEDS survey
component, then use underlying institutional records to determine the necessary amounts.
If financial categories in the institution’s GPFS are more detailed than required, then combine the GPFS
amounts and report only the combined number for this IPEDS survey component.
If amounts are reported in categories in the GPFS that differ from those required for the IPEDS survey, move
those amounts to the IPEDS-requested categories.
Report all financial amounts in WHOLE DOLLARS only, omitting cents.
For any item on the survey component where exact data do not exist in the GPFS, please give estimates.
What NOT to Include
Do not report any projected amounts for future years. Do not make adjustments for prior-year corrections unless they
are included as such corrections in the GPFS.
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Additional Instructions for Institutions Reporting Finance Data for Other Institutions
Most degree-granting institutions reporting IPEDS data report all their data for each IPEDS component, including this
finance component. However, some institutions (called “children”) are set up to report only certain parts of the IPEDS
finance component, while the “parent” institution reports all portions of the finance component but does not double
count those items already reported by the children institutions. Here is what each type of institution should report:
Part
Part A – Statement of Financial Position
Part C – Scholarships and Fellowships
Parent Institution
Reports sum of Parent and Child
data
Reports sum of Parent and Child
data
Reports parent data only
Part D – Revenues and Investment Return
Reports parent data only
Part E – Expenses by Functional and Natural
Classification
Part H - Value of Endowment Assets
Reports parent data only
Part B – Summary of Changes in Net Position
Reports parent data only
Child Institution
Does not report
Does not report
Reports child data
only
Reports child data
only
Reports child data
only
Reports child data
only
Parent institutions should report the sum of Parent and Child data for Parts A and B, and should report Parent data
only in parts C, D, E, and H. This is done so that scholarships and fellowships, revenues and investment return,
expenses by functional and natural classification, and value of endowment assets are not double counted by Parent
and Child institutions.
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Where to Get Help with Reporting
IPEDS Help Desk
Phone: 1-877-225-2568
Email: [email protected]
Web Tutorials
You can also consult the IPEDS website which contains several tutorials on IPEDS data collection, a self-paced
overview of IPEDS tools, and other valuable resources.
IPEDS Resource Page
The IPEDS Resource Page (located on the IPEDS homepage) contains frequently asked questions, a link to the IPEDS
Glossary, data tip sheets, an archive of survey instruments, information on the race/ethnicity categories, and other
valuable information.
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Where to Get Additional Help for Reporting Finance on this Component
There may be places on and off your campus to get assistance in reporting.
Assistance on campus
Although institutions may be organized in different ways and use different titles for offices, an office on your campus
that might help you to report data on this survey component might be called:
•
•
•
•
•
•
•
Office of the Chief Financial Officer
Office of Administration and Finance
Office of Finance
Office of Budget
Office of Financial Services
Office of the Comptroller (or Controller)
Office of Accounting
Assistance off campus
Additional references may be found in the National Association of College and University Business Officers’ (NACUBO)
Financial Accounting and Reporting Manual (FARM) which is available online. Additional information may be found at
the NACUBO website (www.nacubo.org). Someone at your institutions in one or more of the offices listed above may
already have access to the FARM.
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Where the Reported Data Will Appear
Data collected through IPEDS will be accessible at the institution- and aggregate-levels.
At the institution-level, data will appear in the:
•
•
•
•
College Navigator Website
IPEDS Data Center
IPEDS Data Feedback Reports
College Affordability and Transparency Center Website
At the aggregate-level, data will appear in:
•
•
•
•
•
IPEDS First Looks
IPEDS Table Library
IPEDS Data Feedback Reports
The Digest of Education Statistics
The Condition of Education
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Detailed Instructions
This section provides line-by-line instructions for each Part of the Finance Component.
In the instructions, numbers found in parentheses at the end of each line provide additional reference to paragraphs in
the National Association of College and Universities' Business Officers' (NACUBO) Financial Accounting and Reporting
Manual (FARM). There are also some references to the Statement of Financial Accounting Standards (SFAS).
General Information
Fiscal Year: Enter the beginning and ending dates of the period covered for the reported financial data. If the period
is not a full 12-month year, explain in the context box below why a 12-month period was not included.
Audit Opinion: Check the appropriate box to indicate if the GPFS received an unqualified opinion from your auditors.
A "qualified opinion" occurs when the auditor includes exceptions to the opinion that "The financial statements present
fairly, in all respects, the financial position as of (date) and the results of the operations for the year ended, in
conformity with accounting standards generally accepted in the United States." When no such exceptions are included,
the opinion is considered "unqualified." If “qualified” is checked, please note in the context box the nature of the
qualification. If the statements have not been audited, please check “Don’t know” and note in the context box that the
GPFS are unaudited.
Endowments: Indicate whether the institution or any foundations affiliated with the institution hold endowments for
the institution. Endowments are funds required to be held permanently while some or all of its investment earnings are
intended for institutional use. This question also refers to term endowments and funds functioning as endowment.
Intercollegiate Athletics: According to NACUBO descriptions of functional expenses, intercollegiate athletics may be
treated as auxiliary enterprises (if operated as an essentially self-supporting operation) or as student services (if the
program is not operated as an essentially self-supporting operation). Please indicate whether your institution treats
expenses for intercollegiate athletics as auxiliary enterprises, as student services, or in another functional category, or
if the institution does not participate in intercollegiate athletics.
Pell Grants: Indicate whether the institution accounts for Pell grants as pass-through payments or as federal
revenue. If the institution does not award Pell grants, select the applicable option.
Institutions that do receive Pell grants have the option to report Pell grants either as:
•
federal revenue and allowance to tuition and fees and/or auxiliary enterprises (for room and board, books,
meals, etc.). If the Pell grant is counted as federal revenue, then there should be an offsetting
discount/allowance to tuition and fees revenue and/or auxiliary enterprise revenue so that the Pell grants are
not being double counted in the institution's revenues.
•
as a pass-through transaction. A pass-through transaction is essentially a payment on the student's account
where the institution is purely processing the Pell Grant and those monies are not counted by the institution
until they come in as a tuition payment from the student. The latter option is sometimes referred to as an
agency transaction. With this option Pell grants are not counted as federal revenues and are not considered to
be a discount/allowance to tuition and fees or auxiliary enterprises.
OR
Please note that regardless of how Pell grants are treated for revenues or expenses, they should still be
reported in Part C: Scholarships and Fellowships under Pell grants.
Context: Enter in this space any explanations specified in other instructions or any other information critical to
financial statement users.
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Part A – Statement of Financial Position
This part is intended to report the assets, liabilities, and net assets.
Data should be consistent with the Statement of Financial Position in the GPFS.
01 – Long-term investments - Enter the end-of-year market value for all assets held for long-term investment.
Long-term investments should be distinguished from temporary investments based on the intention of the organization
regarding the term of the investment rather than the nature of the investment itself. Thus, cash and cash equivalents
which are held until appropriate long-term investments are identified should be treated as long-term investments.
Similarly, cash equivalents strategically invested and reinvested for long-term purposes should be treated as longterm investments. (FARM para. 405)
19 – Property, plant, and equipment, net of accumulated depreciation - Includes end-of-year market value for
categories such as land, buildings, improvements other than buildings, equipment, and library books, combined and
net of accumulated depreciation. (FARM para. 415)
20 – Intangible assets, net of accumulated amortization – Report all assets consisting of certain nonmaterial
rights and benefits of an institution, such as patents, copyrights, trademarks and goodwill. The amount reported
should be reduced by total accumulated amortization. (FARM para. 409)
02 – Total assets - Enter the amount from your GPFS which is the sum of:
a) Cash, cash equivalents, and temporary investments;
b) Receivables (net of allowance for uncollectible amounts);
c) Inventories, prepaid expenses, and deferred charges;
d) Amounts held by trustees for construction and debt service;
e) Long-term investments;
f) Plant, property, and equipment; and,
g) Other assets
These terms are discussed below.
a) Cash, cash equivalents, and temporary investments – Cash equivalents are short term, highly liquid
investments that are (1) readily converted to known amounts of cash, and (2) so near their maturity that they present
insignificant risk of changes in value because of changes in interest rates. Examples are U.S. Treasury bills, certificates
of deposit, bankers acceptances, repurchase agreements, and commercial paper. Include amounts for currency on
hand and deposits held by financial institutions that can be added to or withdrawn without limitation, such as demand
deposits. (FARM para. 402)
b) Receivables (net of allowance for uncollectible amounts) – Include amounts receivable for all purposes,
including billings for educational and general programs and auxiliary enterprise activities; student loans receivable;
government appropriations receivable; amounts receivable on grants and contracts; accrued dividends and interest
receivable; claims against vendors; advances to employees; and reimbursements receivable from affiliated
organizations. All amounts receivable should be reported net of an allowance for uncollectible accounts. (FARM para.
403)
c) Inventories, prepaid expenses, and deferred charges – For inventories, include amounts for merchandise
inventory held for resale, for example, items held for sale by a bookstore or a dining service. Include supplies and
other inventoried items for internal use if recognized as an asset in the GPFS. For prepaid expenses and deferred
charges, include amounts paid in advance of services received and expenses deferred because benefits relate to future
rather than to current period activities. Examples include prepaid rent, prepaid insurance, bond issue costs, pension
costs or other outflows applicable to future periods. (FARM para. 407)
d) Amounts held by trustees for construction and debt service – Include cash and investments held by trustees
in accordance with agreements that limit expenditure of those amounts to purchase of plant, property, or equipment
or to payment of principal and interest on bonds and notes payable or other long-term debt.
e) Long-term investments – Include the amount for all assets held for long-term investment. (FARM para. 405)
f) Plant, property, and equipment – Include the amount for the balances of land, buildings, equipment, and
construction in progress, combined and net of accumulated depreciation. (FARM para. 415)
g) Other assets – Include all other assets not reported elsewhere.
03 – Total liabilities - Enter the amount from your GPFS which is the sum of:
a) Accounts payable;
b) Deferred revenues and refundable advances;
c) Post-retirement and post-employment obligations;
d) Other accrued liabilities;
e) Annuity and life income obligations and other amounts held for the benefit of others;
f) Bonds, notes, and capital leases payable and other long-term debt, including current portion;
g) Government grants refundable under student loan programs; and,
h) Other liabilities.
These terms are discussed below.
a) Accounts payable – Includes the total of accounts payable to suppliers. (FARM para. 420)
b) Deferred revenues and refundable advances – Include short-term deferrals and advances including student
deposits, advances from third parties for services not yet performed, short-term advances on grants or contracts
(including those from the government), and refunds due third parties for amounts previously received. (FARM para.
422)
c) Post-retirement and post-employment obligations – Include amounts for pension obligations, post-retirement
healthcare benefit obligations, severance obligations, and similar post-retirement and post-employment obligations.
(FARM para. 478 and 479)
d) Other accrued liabilities – Include amounts for any accrued liabilities, including accrued interest payable, salary
and benefit (payroll) accruals, and similar accrued expenses not found in another category. (FARM para. 420)
e) Annuity and life income obligations and other amounts held for the benefit of others – Includes agency
obligations, the beneficiaries’ interests in assets held by the institution subject to split-interest agreements (i.e., the
obligation, measured at present value of payments to be made), deferred compensation amounts, and similar
obligations recognized in the GPFS.
f) Bonds, notes, and capital leases payable and other long-term debt, including current portion – Include
amounts for all long-term debt obligations including bonds payable, mortgages payable, capital leases payable, and
long-term notes payable. If the current portion of long-term debt is separately reported in your GPFS, include that
amount. (FARM para. 420 and 423)
g) Government grants refundable under student loan programs – Include amounts advanced to the institution
by a governmental entity for purposes of making loans to students (if recognized as a liability in the GPFS).
h) Other liabilities – Include all other liabilities not reported elsewhere.
03a – Debt related to property, plant and equipment - Includes amounts for all long-term debt obligations
including bonds payable, mortgages payable, capital leases payable, and long-term notes payable. (FARM para. 420.3,
423) If the current portion of long-term debt is separately reported in the GPFS, include that amount.
04 – Unrestricted net assets – Enter the amount of unrestricted (designated and undesignated) net assets.
Unrestricted net assets are amounts that are available for the general purposes of the institution without restriction.
Include amounts specifically designated by the governing board, such as those designated as quasi-endowments, for
building additions and replacement, for debt service, and for loan programs. In addition, include the unrestricted
portion of net investment in plant, property, and equipment less related debt. This amount is computed as the amount
of plant, property, and equipment, net of accumulated depreciation, reduced by any bonds, mortgages, notes, capital
leases, or other borrowings that are clearly attributable to the acquisition, construction, or improvement of those
assets. (FARM para. 450)
05a – Permanently restricted net assets – Report the portion of net assets required by the donor or grantor to be
held in perpetuity. (FARM para 450.2)
05b – Temporarily restricted net assets – Report net assets that are subject to a donor’s or grantor’s restriction
are restricted net assets. Include long-term but temporarily restricted net assets, such as term endowments, and net
assets held subject to trust agreements if those agreements permit expenditure of the resources at a future date.
(FARM para. 450.3)
06 – Total net assets - This amount is the sum of total unrestricted net assets and total restricted net assets and
should be the sum of lines 04 and 05. The amount should be the same as the number for total net assets found on
your statement of financial position.
NOTE: These two conditions must exist or you will be unable to proceed with data entry:
1) A06 must equal A04 + A05; and,
2) A06 must equal A02 – A03.
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Part A – Statement of Financial Position, Page 2
Property, Plant, and Equipment
Property obtained under capital leases should be reported in the categories that best describe the property, such as
equipment, buildings, etc. (FARM para. 415)
Gross Asset Amounts - The amounts on lines A11 - A16 are the total carrying amounts, without reducing the
amounts for accumulated depreciation.
11 – Land and land improvements - Provide end of year values for land and land improvements as a reconciliation
of beginning of the year values with additions to and retirements of land and land improvements to obtain end of year
values. Use your underlying institutional records.
12 – Buildings - End of year values for buildings represent a reconciliation of beginning of the year values with
additions to and retirements of building values to obtain end of year values. Capitalized leasehold improvements
should be included on this line if the improvements are to leased facilities.
13 – Equipment, including art and library collections - End of year values for equipment represent a
reconciliation of beginning of the year values with additions to and retirements of equipment values to obtain end of
year values. Capitalized leasehold improvements should be included on this line if the improvements are to leased
equipment.
15 – Construction in progress - Report capital assets under construction and not yet placed into service.
16 – Other - Report all other amounts for capital assets not reported in lines 11-15.
17 – Total Plant, Property and Equipment - This calculated value is generated using this formula:
A17 = (A11 +... + A16)
18 – Accumulated depreciation - Report all depreciation amounts, including depreciation on assets that may not be
included on any of the above lines.
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Part B – Summary of Changes in Net Assets
This part is intended to report a summary of changes in net assets and to determine that all amounts being reported
on the Statement of Financial Position (Part A), Revenues and Investment Return (Part D), and Expenses by Functional
and Natural Classification (Part E) are in agreement.
01 – Total revenues and investment return – Enter total revenues and investment return. The amount should
represent all revenues reported for the fiscal period and should agree with the revenues recognized in the institution's
GPFS. If your institution divides its statement of activities into operating and nonoperating sections, selected revenues
in the nonoperating section must be added to the operating revenue subtotal.
02 – Total expenses – Enter total expenses. The amount should represent total expenses recognized in the
institution's GPFS. If your institution divides its statement of activities into operating and nonoperating sections,
selected expenses in the nonoperating section must be added to the operating expense subtotal. Please enter the
amount of expenses as a positive number which will then be treated as a negative number in further computations as
indicated by the parentheses.
03 – Other specific changes in net assets - This calculated value is generated using this formula:
B03 = B04 –(B01 - B02)
Because this is a calculated value, data providers are advised to compare this amount with the corresponding amount
from their GPFS or underlying records. If these amounts differ materially, the data provider is advised to check the
other amounts provided on this screen for data entry errors.
The amount should equal the sum of these amounts found in your GPFS:
a) Actuarial gain or (loss) on split interest agreements;
b) Gains or (loss) on sale of plant assets;
c) Other gain or (loss);
d) Discontinued operations;
e) Extraordinary gain or (loss); and,
f) Cumulative effect of change(s) in accounting principle.
These terms are discussed below.
a) Actuarial gain or (loss) on split interest agreements – Includes the net adjustment to the beneficial interests
of third parties in assets held subject to annuities, unitrusts, and other split-interest agreements as reported in the
GPFS. (FARM para. 431)
b) Gains or (loss) on sale of plant assets – Includes the net gain or loss on the sale of plant, property and
equipment reported in the GPFS. (FARM para. 415)
c) Other gain or (loss) – Includes any other gain or loss recognized in the GPFS other than those accounted for as
part of a, b, d, e, and f above or reported in Part D as an investment return.
d) Discontinued operations - Includes gain or (loss) from the disposition of a business segment. These amounts
should be the same as those reported in the GPFS.
e) Extraordinary gain or (loss) - Includes the gain or (loss) from an unusual and infrequent transaction. These
amounts should be the same as those reported in the GPFS.
f) Cumulative effect of change(s) in accounting principle – These amounts are identical to the amounts reported
in the GPFS.
04 – Change in net assets - This amount should agree with the change in net assets for the year reported in the
GPFS.
05 – Net assets, beginning of year - Enter the amount of net assets, end of year from the previous year's IPEDS
Finance report. In all cases except when the institution reports a change in accounting principle via retroactive
adjustment, this amount is also the beginning net asset balance in the GPFS.
06 – Adjustments to beginning of year net assets - This calculated value is generated using this formula:
B06 = B07 – (B04 + B05)
The amount should equal any adjustments to beginning net asset balances reported in your GPFS. This includes
adjustments for retroactive applications of changes in accounting principle and prior period adjustments. Because this
is a calculated value, data providers are advised to compare this amount with the corresponding amount from their
GPFS or underlying records. If these amounts differ materially, the data provider is advised to check the other
amounts provided on this screen for data entry errors.
07 – Net assets, end of year - This amount is carried forward from Part A, line 06. This amount should agree with
the amount reported for total net assets in the GPFS at the end of the fiscal year.
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Part C - Scholarships and Fellowships
This part is intended to report details about scholarships and fellowships.
For each source on lines 01–06, enter the amount of resources received that are used for scholarships and fellowships.
Scholarships and fellowships include: grants-in-aid, trainee stipends, tuition and fee waivers, and prizes to students.
Student grants do not include amounts provided to students as payments for teaching or research or as fringe
benefits.
For lines 08 and 09, identify amounts that are reported in the GPFS as allowances only. "Allowance" means the
institution displays the financial aid amount as a deduction from tuition and fees or a deduction from auxiliary
enterprise revenues in its GPFS.
The allowance category is intended to be consistent with the definitions provided in the NACUBO Advisory Report
Accounting and Reporting Scholarship Allowances to Tuition and Other Fee Revenues by Higher Education (AR 97-1,
January 17, 1997), which is available at the NACUBO website (www.nacubo.org). AR 97-1 states:
"A scholarship allowance is the difference between the stated charge for goods and services provided by the institution
and the amount which is billed to students and/or third parties making payments on behalf of students. In considering
what is or is not revenue, the following rule applies: amounts received to satisfy student tuition and fees will be
reported as revenue only once (e.g. student fees, gifts, investment income) and only amounts received from students
and third-party payers to satisfy tuition and fees will be recognized as tuition and fee revenue."
For more information on reporting discounts and allowances in scholarships and fellowships, access the (IPEDS Tip
Sheet).
Refer to these specific instructions for more information about reporting student scholarships and fellowships.
01 – Pell grants (federal) – Enter the amount awarded to the institution under the Pell Grant program. Private
institutions generally report Pell Grants as agency transactions.
02 – Other federal grants – Enter the amount awarded to the institution under federal student aid programs other
than Pell, such as the Federal Supplemental Education Opportunity Grants (FSEOG), DHHS training grants (aid portion
only), and the federal portion of State Student Incentive Grants (SSIG). Do not include institutional matching portions
for any of these programs here, they should be reported as institutional grants. Do not include Federal Direct Student
Loans, Federal Work Study, or federal veteran education benefits.
03 – State grants – Enter the amount awarded to the institution under state student aid programs, including the
state portion of State Student Incentive Grants (SSIG).
04 – Local grants (government) – Enter the amount awarded to the institution under local government student aid
programs.
05 – Institutional grants (funded) – Enter the amounts awarded to students from institutional resources restricted
for the purpose of scholarships and fellowships, such as scholarships and fellowships funded by gifts or endowment
return restricted for that purpose. Only if control over how the resources will be spent passes to the student (for
example, the grant is paid directly to the student to use to defray the cost of off-campus housing) is the amount
reported as revenue and expense.
06 – Institutional grants (unfunded) – Enter the amount awarded to students from unrestricted institutional
resources. Only if control over how the resources will be spent passes to the student (for example, the grant is paid
directly to the student to use to defray the cost of off-campus housing) is the amount reported as revenue and
expense.
07 – Total scholarships and fellowships – This calculated value is the sum of lines 01 through 06. Because this is a
calculated value data providers are advised to check this amount with the corresponding amount on their GPFS or
underlying records. If these amounts differ materially, the data provider is advised to check the other amounts
provided on this screen for data entry errors.
08 – Allowances (scholarships) applied to tuition and fees – Enter the amount of allowances (scholarships)
applied to tuition and fees. The amount on this line, when added to the amount in Part D, line 01 equals gross tuition
and fees. (FARM para. 460)
09 – Allowances (scholarships) applied to auxiliary enterprise revenues – Enter the amount of allowances
(scholarships) applied to auxiliary enterprise revenues (e.g., dormitory charges). The amount on this line, when added
to the amount in Part D, line 12 equals gross auxiliary enterprise revenue. (FARM 460)
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Part D – Revenues and Investment Return
PLEASE COMPLETE PARTS B AND C BEFORE PROVIDING DATA FOR PART D.
This part is intended to report revenues by source.
The revenues and investment return reported in this part should agree with the revenues reported in the
institution’s GPFS.
All revenue source categories are intended to be consistent with the definitions provided in Chapter 4 (Accounting for
Private Colleges and Universities) of the NACUBO FARM.
Exclude from revenue (and expenses) interfund or intraorganizational charges and credits. Interfund and
intraorganizational charges and credits include interdepartmental charges, indirect costs, and reclassifications from
temporarily restricted net assets.
Revenues are reported by restriction (columns) and by source (rows).
Column 1, Total Amount – This column is calculated by the sum of the columns 2 through 4.
Column 2, Unrestricted – Report revenues that are not subject to limitations by a donor-imposed restriction.
Column 3, Temporarily Restricted – Report revenues that are subject to limitation by donor specification as to use
or the time when use may occur (such as a later period of time or after specified events have occurred).
Column 4, Permanently Restricted – Report revenues that must be maintained in perpetuity due to a donorimposed restriction.
For institutions receiving American Recovery and Reinvestment Act (ARRA) revenues during the reporting period,
report these amounts as part of line 16, Total revenues and investment return. If the GPFS shows a separate amount
for ARRA revenues in another revenue category (e.g., Federal grants and contracts) remove that amount from that
other category for IPEDS reporting.
Refer to these specific instructions for more information about reporting revenues and investment return.
01 – Tuition and fees (net of allowance reported in Part C, line 08) – Enter the amount of tuition and
educational fees, net of any allowances applied in the GPFS. Include in this amount all fees for continuing education
programs, conferences, and seminars. (FARM para. 460)
Government Appropriations
02 – Federal appropriations – Enter all amounts received from the federal government through a direct
appropriation of Congress, except grants and contracts, which should be reported on line D05. An example of a federal
appropriation is a federal land-grant appropriation. (FARM para. 463) Do not include Pell Grants on this line. Do
not include any ARRA revenues on this line (see line 15 in this part).
03 – State appropriations – Enter all amounts received from a state government through a direct appropriation of
its legislative body, except for state grants and contracts, which should be reported on line 06. An example of a state
appropriation that should be entered on line 03 is an annual state appropriation for operating expenses of the
institution. (FARM para. 463) Do not include any ARRA revenues on this line (see line 15 in this part).
04 – Local appropriations – Enter all amounts received from a local government (i.e., city and/or county) through a
direct appropriation of its legislative body, except for local grants and contracts, which should be reported on line 07.
An example of a local appropriation that should be entered on line 04 is an annual local appropriation for operating
expenses of the institution. (FARM para. 463)
Government Grants and Contracts
05 – Federal grants and contracts – Enter all revenues from federal agencies that are for specific undertakings
such as research projects, training projects, and similar activities, including contributions from federal agencies. If
federal Pell and similar student aid grants are treated as agency transactions in your GPFS, they are excluded from
this amount. If federal Pell and similar student aid grants are treated as student aid expenses or as allowances when
awarded, include the grant revenue on this line and in Part C. (FARM para. 464) Do not include any ARRA revenues
on this line (see line 15 in this part).
06 – State grants and contracts – Enter all revenues from state government agencies that are for specific
undertakings such as research projects, training projects, and similar activities, including contributions from state
agencies. If state grants for student aid are treated as agency transactions in your GPFS, they are excluded from this
amount. If state grants for student aid are treated in your GPFS as student aid expenses or as allowances when
awarded, include the grant revenue on this line and in Part C. (FARM para. 464) Do not include any ARRA revenues
on this line (see line 15 in this part).
07 – Local government grants and contracts – Enter all revenues from local government agencies that are for
specific undertakings such as research projects, training projects, and similar activities, including contributions from
local agencies. If local grants for student aid are treated as agency transactions in your GPFS, they are excluded from
this amount. If local grants for student aid are treated in your GPFS as student aid expenses or as allowances when
awarded, include the grant revenue on this line and in Part C. (FARM para. 464)
Private Gifts, Grants, and Contracts
08a – Private gifts – Enter revenues from private (non-governmental) entities including revenues received from gift
or contribution nonexchange transactions (including contributed services) except those from affiliated entities, which
are entered on line 09. Includes bequests, promises to give (pledges), gifts from an affiliated organization or a
component unit not blended or consolidated, and income from funds held in irrevocable trusts or distributable at the
direction of the trustees of the trusts. Includes any contributed services recognized (recorded) by the institution.
(FARM para. 462)
08b – Private grants and contracts – Enter revenues from private (non-governmental) entities that are for specific
research projects, other types of programs, or for general institutional operations (if not government appropriations).
Examples are research projects, training programs, and similar activities for which amounts are received or expenses
are reimbursable under the terms of a grant or contract, including amounts to cover both direct and indirect expenses.
(FARM para. 464)
09 – Contributions from affiliated entities – Enter all revenues received from non-consolidated affiliated entities,
such as fund raising foundations, booster clubs, other institutionally-related foundations, and similar organizations
created to support the institution or organizational components of the institution.
Other Revenue
10 – Investment return – Enter all investment income (i.e., interest, dividends, rents and royalties), gains and
losses (realized and unrealized) from holding investments (regardless of the nature of the investment), student loan
interest, and amounts distributed from irrevocable trusts held by others (collectively referred to as "investment
return"). Changes in the value of interest rate swaps should be included in this amount.
11 – Sales and services of educational activities – Enter all revenues derived from the sales of goods or services
that are incidental to the conduct of instruction, research or public service, and revenues of activities that exist to
provide instructional and laboratory experience for students and that incidentally create goods and services that may
be sold. Examples include film rentals, scientific and literary publications, testing services, university presses, dairies,
and patient care clinics that are not part of a hospital. The revenue of patient care clinics that are part of a hospital is
included in Part D, line 13. (FARM para. 465)
12 – Sales and services of auxiliary enterprises (net of allowance reported in Part C, line 09) – Enter the
amount of revenues generated by the auxiliary enterprise operations, net of any allowances applied in the general
purpose financial statements. Auxiliary enterprises are operations that exist to furnish a service to students, faculty, or
staff, and that charge a fee that is directly related to the cost of the service. Examples are residence halls, food
services, student health services, intercollegiate athletics, college unions, college stores, and movie theaters. (FARM
para. 465)
13 – Hospital revenue – Enter the revenues and gains of hospitals operated as a component of a reporting
institution of higher education. (FARM para. 465) If your hospital is reporting in IPEDS educational program
activity that is conducted separate from an institution of higher education, do not use this line. Refer to
the special instructions below.
SPECIAL INSTRUCTIONS FOR CERTAIN HOSPITALS AND/OR MEDICAL CENTERS
Hospitals and/or medical centers reporting educational program activity that is operated by an entity for which the
primary function is other than higher education should complete the IPEDS Finance Survey as follows:
a. Include in Part D the revenues directly associated with the educational programs offered. Combine the revenues of
all educational programs offered.
b. Do not complete Part D, line 13 (Hospital revenue). This information is required only for hospitals whose financial
activity is reported as a component of an institution of higher education.
c. Include in Part E all expenses associated with instruction and educational support services based on your underlying
accounting records. Combine the expenses of all educational programs offered.
d. Complete Part A and Part B if the information for the educational program(s) component is obtainable from the
underlying accounting records. Do not report information for the hospital as a whole.
14 – Independent operations revenue – Enter all revenues associated with operations independent of the primary
missions of the institution. This category generally includes only those revenues associated with major federallyfunded research and development centers. Do not include the profit (or loss) from operations owned and managed as
investments of the institution’s endowment funds, which should be reported on line 10.
15 – Other revenue - This calculated value is generated using this formula:
D15 = D16 – (D01 + … + D14)
Amounts which should NOT be included in this generated number are gains or other unusual or nonrecurring items
that are required to be included in Part B, such as gains on the sale of plant assets, actuarial gains, and extraordinary
gains.
Because this is a calculated value, data providers are advised to compare this amount with the corresponding amount
from their GPFS or underlying records. If these amounts differ materially, the data provider is advised to check the
other amounts provided on this screen for data entry errors. For institutions that received American Recovery
and Reinvestment Act (ARRA) revenues during the reporting period, allow these amounts to be reported
through this calculated value by including the amount in line 16.
16 – Total revenues and investment return - This amount is carried forward from Part B, line 01. This amount
should include ARRA revenues received by the institution, if any.
17 – Net assets released from restriction – Enter all revenues resulting from the reclassification of temporarily
restricted assets or permanently restricted assets.
18 – Net total revenues, after assets released from restriction – This calculated value is generated using this
formula:
D18 = D16 + D17
19 – 12-month Student FTE from E12 – This number for full-time equivalent (FTE) student enrollment is carried
over from the 12-month enrollment survey.
20 – Total revenues and investment return per Student FTE – This amount is generated by dividing line 16 by
line 19. This calculated value is used by the system to compare the data reported by the institution to the data of
institutions that are in the same sector (e.g., public/private, 4-year/2-year) to see if the calculated value is an
extreme value that is too high or low. While it is not anticipated that your institution would have the same overall
revenues, this comparison may be useful for ensuring that all appropriate revenues have been included in the finance
survey component, or excluded when appropriate.
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Part E – Expenses by Functional and Natural Classification
PLEASE COMPLETE PART B BEFORE PROVIDING DATA FOR PART E.
Part E is intended to report expenses by function. All expenses recognized in the GPFS should be reported using the
expense functions provided on lines 01–12. With the exception of the operation and maintenance of plant (line 11),
these functional categories are consistent with Chapter 5 (Accounting for Private Colleges and Universities) of the
NACUBO FARM. (FARM para 504)
Institutions that do not have access to FARM can refer to Appendix B of the NACUBO Advisory Report 2010-1, Public
Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest Expenses to
Functional Expense Categories for more detailed information on the expense categories. Although this document was
written for public institutions, the expenditure definitions are applicable to private institutions also. The advisory is
available here.
The total for expenses on line 13 should agree with the total expenses reported in your GPFS including
interest expense and any other non-operating expense.
Do not include losses or other unusual or nonrecurring items in Part E. (Special items including gains and losses should
be reported in Part B.) Operation and maintenance expenses are no longer reported as a separate expense category.
Instead these expenses are to be distributed among the other functional expense categories.
Functional and Natural Expenses
Column 1, Total amount - Enter the total expense for each applicable functional category listed on lines 01–10. No
amount may be entered on line 11 for total operations and maintenance expenses. This line is provided to assist in the
allocation of operation and maintenance expenses. Total expenses, line 13, should agree with the total expenses
reported in your GPFS.
Column 2, Salaries and wages – This column describes the natural classification of salary and wage expenses
incurred in each functional category. For this classification, enter the amount of salary and wage expenses for the
function identified in lines 01-11 and 13.
Column 3, Benefits - Enter in this column the amount of benefits expenses incurred in each functional category
identified on lines 01-11 and 13.
Column 4, Operation and maintenance of plant - This column, in conjunction with Line 11, is used to show the
distribution of operation and maintenance of plant expenses to the various functions. Enter in this column the allocated
amount of operation and maintenance of plant expenses to each function listed on lines 01-10. The total operation and
maintenance of plant expenses should be entered as a negative amount on line 11 of this column, so that the net total
of the column as well as the net total of line 11 is zero. (FARM para. 704.14)
Column 5, Depreciation - Enter in this column the amount of depreciation allocated to each functional category
identified on lines 01-11 and 13. (FARM para. 704.15)
Column 6, Interest - Enter in this column the amount of interest incurred on debt allocated to each function
identified on lines 01-11 and 13. (FARM para. 704.16)
Column 7, All other - This column will be calculated by the survey program as the difference between the total
amount entered in column 1 and the sum of columns 2 through 6. Please check the calculated amount for accuracy to
determine that no keying errors have occurred.
Refer to these specific instructions for more information about reporting expenses.
Expenses by Functional Classification
01 – Instruction – Enter the instruction expenses of the colleges, schools, departments, and other instructional
divisions of the institution and expenses for departmental research and public service that are not separately
budgeted. The instruction category includes general academic instruction, occupational and vocational instruction,
special session instruction, community education, preparatory and adult basic education, and remedial and tutorial
instruction conducted by the teaching faculty for the institution’s students. Include expenses for both credit and noncredit activities. Exclude expenses for academic administration if the primary function is administration (e.g., academic
deans). Such expenses should be entered on line 04. (FARM para. 703.4)
02 – Research – Enter the expenses for activities specifically organized to produce research outcomes and either
commissioned by an agency external to the institution or separately budgeted by an organizational unit within the
institution. The category includes institutes and research centers, and individual and project research. Do not report
nonresearch sponsored programs (e.g., training programs) on this line. Training programs generally are reported on
line 01 (Instruction). (FARM para. 703.5)
03 – Public service – Enter the expenses specifically for public service and for activities established primarily to
provide noninstructional services beneficial to groups external to the institution. Examples are seminars and projects
provided to the particular sectors of the community. Include expenses for community services, cooperative extension
services, and public broadcasting services. (FARM para. 703.6)
04 – Academic support – Enter the expenses for support services that are an integral part of the institution’s
primary mission of instruction, research, or public service and that are not charged directly to these primary programs.
Include expenses for libraries, museums, galleries, audio/visual services, academic development, academic computing
support, course and curriculum development, and academic administration. Include expenses for medical, veterinary
and dental clinics if their primary purpose is to support the institutional program, that is, they are not part of a
hospital. (FARM para. 703.7)
05 – Student services – Enter the expenses for admissions, registrar activities and activities whose primary purpose
is to contribute to students emotional and physical well-being and to their intellectual, cultural and social development
outside the context of the formal instructional program. Examples are career guidance, counseling, financial aid
administration, student records, athletics, and student health services, except when operated as a self-supporting
auxiliary enterprise. (FARM para. 703.8)
06 – Institutional support – Enter the expenses for the day-to-day operational support of the institution. Include
expenses for general administrative services, executive direction and planning, legal and fiscal operations,
administrative computing support, and public relations/development. (FARM para. 703.9)
07 – Auxiliary enterprises – Enter expenses of essentially self-supporting operations of the institution that exist to
furnish a service to students, faculty, or staff, and that charge a fee that is directly related to, although not necessarily
equal to, the cost of the service. Examples are residence halls, food services, student health services, intercollegiate
athletics (only if essentially self-supporting), college unions, college stores, faculty and staff parking, and faculty
housing. (FARM para. 703.11)
08 – Net grant aid to students (net of tuition and fee allowances) - Enter on this line ONLY scholarships and
fellowships recognized as expenses in your GPFS. Do not include Federal Work Study expenses on this line. Work
study expenses should be reported within the function where the student worked. Whereas in the past, most student
awards were recorded as expenses under this classification, most student awards are now reported as either
scholarship allowances or agency transactions. Student awards, made from contributed funds or grant funds, that are
under the control of the institution (the institution decides who gets the award) result in allowances that reduce tuition
or auxiliary enterprise revenue. Student awards, made from grant funds, that are made to students identified by the
grantor are considered agency transactions and do not result in either revenues or expenses. Scholarships and
fellowships in the form of allowances applied to tuition and fees should be reported in Part C, line 09, and not included
in Part E, line 08. Scholarships and fellowships in the form of allowances applied to auxiliary services should be
reported in Part C, line 9, and not included in Part E, line 08. (FARM para. 703.10)
According to NACUBO Advisory Report 97-1 (January 17, 1997), scholarships and fellowships are "expenses to the
extent that the organization incurs incremental expense in providing goods and services." Thus payments made by the
institution to students or third parties in support of the total cost of education are expenses if those payments are
made for goods and services NOT provided by the institution. Examples include payments for services to third parties
(including students) for off-campus housing or for the cost of board not provided by institutional contract meal plans.
09 – Hospital services – Enter all expenses associated with the operation of a hospital reported as a component of
an institution of higher education. Include nursing expenses, other professional services, administrative services, fiscal
services, and charges for operation and maintenance of plant. (FARM para. 703.12) Hospitals or medical centers
reporting educational program activities conducted independent of an institution of higher education (not
as a component of a reporting institution of higher education) should not complete this line. Refer to the
special instructions below.
SPECIAL INSTRUCTIONS FOR CERTAIN HOSPITALS AND/OR MEDICAL CENTERS Hospitals and/or medical
centers reporting educational program activity operated by an entity for which the primary function is other than
higher education should complete the IPEDS Finance Survey as follows:
a. Include in Part D the revenues directly associated with the educational programs offered. Combine the revenues of
all educational programs offered.
b. Do not complete Part D, line 13 (Hospital revenue). This information is required only for hospitals whose financial
activity is reported as a component of an institution of higher education.
c. Include in Part E all expenses associated with instruction and educational support services based on your underlying
accounting records. Combine the expenses of all educational programs offered.
d. Complete Part A and Part B if the information for the educational program(s) component is obtainable from the
underlying accounting records. Do not report information for the hospital as a whole.
10 – Independent operations – Enter all expenses for separately organized operations that are independent of or
unrelated to the primary missions of the institution (i.e., instruction, research, public service), although they may
contribute indirectly to the enhancement of these programs. This category is generally limited to expenses of major
federally-funded research and development centers. Do not include the expenses of operations owned and managed
as investments of the institution’s endowment funds. (FARM para. 703.13)
11 – Operation and maintenance of plant - This line, in conjunction with Column 4, is used to show the
distribution of operation and maintenance of plant expenses to the various functions. Enter all expenses for operations
established to provide service and maintenance related to campus grounds and facilities used for educational and
general purposes. Specific expenses include utilities, fire protection, property insurance, and similar items. Also
included are information technology expenses related to operation and maintenance of plant activities if the institution
separately budgets and expenses information technology resources (otherwise these expenses are included in
institutional support). FASB institutions do not report this function on their GPFS; instead these expenses are charged
to or allocated to other functions. In the column for operation and maintenance of plant (column 4), enter (as a
negative amount) on this line the total amount of operation and maintenance of plant expenses allocated to the other
functions. (FARM para. 703.14)
12 - Other expenses – This calculated value is generated using this formula:
E12 = E13 – (E01 + … + E11)
Because this is a generated number, data providers are advised to compare this amount with a corresponding amount
in the institution's GPFS. If these amounts differ materially, the data provider is advised to check the other amounts
provided on this screen for data entry errors.
13 – Total expenses – The amount in column 1 is carried forward from Part B, line 02. This should be the same as
the amount for total expenses found in your GPFS. Enter in columns 2, 3, 5, and 6 the total amount of each natural
expense incurred by the institution. These amounts will be used to compute the amounts in line 12, as well as line 13,
column 7.
14 – 12-month Student FTE from E12 - This number for full-time equivalent (FTE) student enrollment is carried
over from the 12-month enrollment survey.
15 – Total expenses per Student FTE - This amount is generated by dividing line 13 by line 14. This calculated
value is used by the system to compare the data reported by the institution to the data of institutions that are in the
same sector (e.g., public/private, 4-year/2-year) to see if the calculated value is an extreme value that is too high or
low. While it is not anticipated that your institution would have the same overall expenses, this comparison may be
useful for ensuring that all appropriate expenses have been included in the finance survey component, or excluded
when appropriate.
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Part H – Value of Endowment Assets
This part is intended to report details about endowments.
This part appears only for institutions answering yes to the general information question regarding endowment assets.
Report the amounts of gross investments of endowment, term endowment, and funds functioning as endowment for
the institution and any of its foundations and other affiliated organizations. DO NOT reduce investments by liabilities
for Part H.
For institutions participating in the NACUBO Endowment Study, this amount should be comparable with values
reported to NACUBO.
01 – Value of endowment assets at the beginning of the fiscal year — If the market value of some investments
is not available, use whatever value was assigned by the institution in reporting market values in the annual financial
report.
02 – Value of endowment assets at the end of the fiscal year — Report here the market values of the
endowment assets at the end of the fiscal year. If the market value is not available for some investments, use
whatever value was assigned by the institution in reporting market values in the annual financial report.
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date: 8/4/2015
Glossary
Term
Definition
Academic support
A functional expense category that includes expenses of activities and services that support the institution's primary
missions of instruction, research, and public service. It includes the retention, preservation, and display of
educational materials (for example, libraries, museums, and galleries); organized activities that provide support
services to the academic functions of the institution (such as a demonstration school associated with a college of
education or veterinary and dental clinics if their primary purpose is to support the instructional program); media
such as audiovisual services; academic administration (including academic deans but not department chairpersons);
and formally organized and separately budgeted academic personnel development and course and curriculum
development expenses. Also included are information technology expenses related to academic support activities; if
an institution does not separately budget and expense information technology resources, the costs associated with
the three primary programs will be applied to this function and the remainder to institutional support. Institutions
include actual or allocated costs for operation and maintenance of plant, interest, and depreciation.
Accumulated depreciation
The total depreciation charged as expenses as of the reporting date (in the current year and in prior years) on the
capital assets of the institution. FASB Statement No. 117 and GASB Statement No. 34 require that accumulated
depreciation to date be recognized.
Adjustments to beginning net
assets
Unusual and infrequent adjustments to assets that are not recorded as current year revenues, expenses, gains, or
losses. This includes adjustments for retroactive applications of changes in accounting principles and prior period
adjustments.
Administrative unit
The system or central office in a multi-campus environment.
Allowances
That part of a scholarship or fellowship that is used to pay institutional charges such as tuition and fees or room and
board charges.
Assets
Physical items (tangible) or rights (intangible) that have value and that are owned by the institution. Assets are
useful to the institution because they are a source of future services or because they can be used to secure future
benefits.
Audit opinion
An audit, performed by external (or outside) auditors, that usually consists of a one-page "opinion" letter on the
general-purpose financial statements. The "opinion" paragraph of the letter usually states that "In our opinion, the
financial statements present fairly, in all material respects, the financial position as of (date) and the results of
operations for the year then ended, in conformity with accounting standards generally accepted in the United
States." If the auditor cannot state completely the substance of the previous "opinion" sentence, then the auditor will
add a phrase such as "...except for..." and state the basis for the exception. When the auditor includes exceptions to
the opinion, the opinion is considered to be a "qualified opinion;" when no such exceptions are included, the opinion
is considered to be an "unqualified opinion."
Auxiliary enterprises
expenses
Expenses for essentially self-supporting operations of the institution that exist to furnish a service to students,
faculty, or staff, and that charge a fee that is directly related to, although not necessarily equal to, the cost of the
service. Examples are residence halls, food services, student health services, intercollegiate athletics (only if
essentially self-supporting), college unions, college stores, faculty and staff parking, and faculty housing. Institutions
include actual or allocated costs for operation and maintenance of plant, interest and depreciation.
Auxiliary enterprises
revenues
Revenues generated by or collected from the auxiliary enterprise operations of the institution that exist to furnish a
service to students, faculty, or staff, and that charge a fee that is directly related to, although not necessarily equal
to, the cost of the service. Auxiliary enterprises are managed as essentially self-supporting activities. Examples are
residence halls, food services, student health services, intercollegiate athletics, college unions, college stores, and
movie theaters.
Book value
The dollar value of the physical asset at the time of construction or purchase of that asset, or, if the asset is a gift,
the market value of the asset at the time of the gift. It may also be the difference between the balance of a physical
plant asset account and its related accumulated depreciation account.
Buildings
Capital assets built or acquired for occupancy and use by the entity. These are structures such as classrooms,
research facilities, administrative offices, and storage. Includes built-in fixtures and equipment that are essentially
part of the permanent structure. Buildings held for the production of revenue are classified as investments.
Capital outlay
The cost of acquiring plant assets, adding to plant assets, and adding utility to plant assets for more than one
accounting period.
Change in net assets
A term used to describe the net amount of revenues, expenses, gains, and losses for the reporting period. This
appears on the Statement of Revenues, Expenses, and Changes in Net Assets for GASB organizations and on the
Statement of Activities for FASB organizations.
Contributions from affiliated
entities
Revenues from non-consolidated affiliated entities, such as fund raising foundations, booster clubs, other
institutionally-related foundations, and similar organizations created to support the institution or organizational units
of the institution. General purpose financial statements for FASB institutions include a separate line for these
revenues; GASB institutions classify such revenues as gifts.
Depreciation
The allocation or distribution of the cost of capital assets, less any salvage value, to expenses over the estimated
useful life of the asset in a systematic and rational manner. Depreciation for the year is the amount of the allocation
or distribution for the year involved.
Discounts and allowances
That part of a scholarship or fellowship that is used to pay institutional charges such as tuition and fees or room and
board charges.
Endowment assets
Gross investments of endowment funds, term endowment funds, and funds functioning as endowment for the
institution and any of its foundations and other affiliated organizations.
Endowment funds
Funds whose principal is nonexpendable (true endowment) and that are intended to be invested to provide earnings
for institutional use. Also includes term endowments and funds functioning as endowment.
Expenses
The outflow or other using up of assets or incurrence of liabilities (or a combination of both) from delivering or
producing goods, rendering services, or carrying out other activities that constitute the institution's ongoing major or
central operations or in generating revenues. Alternatively, expenses may be thought of as the costs of goods and
services used to produce the educational services provided by the institution. Expenses result in a reduction of net
assets.
Federal grants
Transfers of money or property from the Federal government to the education institution without a requirement to
receive anything in return. These grants may take the form of grants to the institutions to undertake research or
they may be in the form of student financial aid. (Used for reporting on the Finance component)
Federal Work Study (FWS)
A part-time work program awarding on- or off-campus jobs to students who demonstrate financial need. FWS
positions are primarily funded by the government, but are also partially funded by the institution. FWS is awarded to
eligible students by the college as part of the student's financial aid package. The maximum FWS award is based on
the student's financial need, the number of hours the student is able to work, and the amount of FWS funding
available at the institution. This is a type of Title IV Aid, but is not considered grant aid to students.
Fellowships
These are grants-in-aid and trainee stipends to graduate students. Fellowships do not include funds for which
services to the institution must be rendered, such as payments for teaching, or loans.
Fringe benefits
Cash contributions in the form of supplementary or deferred compensation other than salary. Excludes the
employee's contribution. Employee fringe benefits include retirement plans, social security taxes, medical/dental
plans, guaranteed disability income protection plans, tuition plans, housing plans, unemployment compensation
plans, group life insurance plans, worker's compensation plans, and other benefits in-kind with cash options.
Government appropriations
(revenues)
Revenues received by an institution through acts of a legislative body, except grants and contracts. These funds are
for meeting current operating expenses and not for specific projects or programs. The most common example is a
state's general appropriation. Appropriations primarily to fund capital assets are classified as capital appropriations.
Grants and contracts
(revenues)
Revenues from governmental agencies and nongovernmental parties that are for specific research projects, other
types of programs , or for general institutional operations (if not government appropriations). Examples are research
projects, training programs, student financial assistance, and similar activities for which amounts are received or
expenses are reimbursable under the terms of a grant or contract, including amounts to cover both direct and
indirect expenses. Includes Pell Grants and reimbursement for costs of administering federal financial aid programs.
Grants and contracts should be classified to identify the governmental level - federal, state, or local - funding the
grant or contract to the institution; grants and contracts from other sources are classified as nongovernmental grants
and contracts. GASB institutions are required to classify in financial reports such grants and contracts as either
operating or nonoperating.
Hospital services
Expenses associated with a hospital operated by the postsecondary institution (but not as a component unit) and
reported as a part of the institution. This classification includes nursing expenses, other professional services, general
services, administrative services, and fiscal services. Also included are information technology expenses, actual or
allocated costs for operation and maintenance of plant, interest and depreciation related to hospital capital assets.
Hospitals (revenues)
Revenues generated by a hospital operated by the postsecondary institution. Includes gifts, grants, appropriations,
research revenues, endowment income, and revenues of health clinics that are part of the hospital unless such clinics
are part of the student health services program. Sales and service revenues are included net of patient contractual
allowances. Revenues associated with the medical school are included elsewhere. Also includes all amounts
appropriated by governments (federal, state, local) for the operation of hospitals.
Independent operations
Expenses associated with operations that are independent of or unrelated to the primary missions of the institution
(i.e., instruction, research, public service) although they may contribute indirectly to the enhancement of these
programs. This category is generally limited to expenses of a major federally funded research and development
center. Also includes information technology expenses, actual or allocated costs for operation and maintenance of
plant, interest and depreciation related to the independent operations. Expenses of operations owned and managed
as investments of the institution's endowment funds are excluded.
Independent operations
(revenues)
Revenues associated with operations independent of or unrelated to the primary missions of the institution (i.e.,
instruction, research, public service) although they may contribute indirectly to the enhancement of these programs.
Generally includes only those revenues associated with major federally funded research and development centers.
Net profit (or loss) from operations owned and managed as investments of the institution's endowment funds is
excluded.
Institutional grants (funded)
(allowances)
Scholarships and fellowships awarded to students from institutional resources that are restricted to student aid.
Private institutions generally report these grants as allowances. If control over these resources passes to the student,
the amount is reported as an expense. (Used for reporting under FASB Standards.)
Institutional grants
(unfunded) (allowances)
Scholarships and fellowships awarded to students from unrestricted institutional resources. Private institutions
generally report these grants as allowances. If control over these resources passes to the student, the amount is
reported as an expense. (Used for reporting under FASB Standards.)
Institutional support
A functional expense category that includes expenses for the day-to-day operational support of the institution.
Includes expenses for general administrative services, central executive-level activities concerned with management
and long range planning, legal and fiscal operations, space management, employee personnel and records, logistical
services such as purchasing and printing, and public relations and development. Also includes information technology
expenses related to institutional support activities. If an institution does not separately budget and expense
information technology resources, the IT costs associated with student services and operation and maintenance of
plant will also be applied to this function.
Instruction
A functional expense category that includes expenses of the colleges, schools, departments, and other instructional
divisions of the institution and expenses for departmental research and public service that are not separately
budgeted. Includes general academic instruction, occupational and vocational instruction, community education,
preparatory and adult basic education, and regular, special, and extension sessions. Also includes expenses for both
credit and non-credit activities. Excludes expenses for academic administration where the primary function is
administration (e.g., academic deans). Information technology expenses related to instructional activities if the
institution separately budgets and expenses information technology resources are included (otherwise these
expenses are included in academic support). Institutions include actual or allocated costs for operation and
maintenance of plant, interest, and depreciation.
Intangible assets
Assets consisting of nonmaterial rights and benefits of an institution, such as patents, copyrights, trademarks and
goodwill.
Integrated Postsecondary
Education Data System
(IPEDS)
The Integrated Postsecondary Education Data System (IPEDS), conducted by the NCES, began in 1986 and involves
annual institution-level data collections. All postsecondary institutions that have a Program Participation Agreement
with the Office of Postsecondary Education (OPE), U.S. Department of Education (throughout IPEDS referred to as
"Title IV") are required to report data using a web-based data collection system. IPEDS currently consists of the
following components: Institutional Characteristics (IC); 12-month Enrollment (E12);Completions (C); Admissions
(ADM); Student Financial Aid (SFA); Human Resources (HR) composed of Employees by Assigned Position, Fall Staff,
and Salaries; Fall Enrollment (EF); Graduation Rates (GR); Outcome Measures (OM); Finance (F); and Academic
Libraries (AL).
Interest
The price paid (or received) for the use of money over a period of time. Interest income is one component of
investment income. Interest paid by the institution is interest expense.
Investment return
Income from assets including dividends, interest earnings, royalties, rent, gains (losses) etc.
Land and land improvements
Capital assets consisting of land and improvements such as athletic fields, golf courses, or lakes. Land is
nondepreciable; some land improvements are depreciable and some are nondepreciable.
Liabilities
Debts and obligations of the institution owed to outsiders or claims or rights, expressed in monetary terms, of an
institution's creditors. GASB institutions are required to report liabilities under two categories - current liabilities and
noncurrent liabilities.
Library
An organized collection of printed, microform, and audiovisual materials which (a) is administered as one or more
units, (b) is located in one or more designated places, and (c) makes printed, microform, and audiovisual materials
as well as necessary equipment and services of a staff accessible to students and to faculty. Includes units meeting
the above definition which are part of a learning resource center.
Local government grants and
contracts (revenues)
Revenues from local government agencies that are for training programs and similar activities for which amounts are
received or expenditures are reimbursable under the terms of a local government grant or contract. These
amounts can be treated as an allowance, an agency transaction, or as a student aid
expense in the institution's General Purpose Financial Statements (GPFS) and are
reported differently depending on their treatment. Generally, however, private
institutions report these grants as allowances when applied to the student's account
and as local grant revenues when received.
Long-term investments
Money or capital invested for purposes of receiving a profitable return over a period of time of more than one year.
Long-term investments should be distinguished from temporary investments based on the intention of the
organization regarding the terms of the investment rather than the nature of the investment itself. Includes: 1) cash
held until appropriate investments are identified; 2) repurchase agreements and other money market media; 3)
equity securities and mutual fund investments; 4) debt securities; 5) real estate held for income production; 6)
beneficial interest in trusts; and 7) other. GASB institutions report these investments under "noncurrent assets."
Market value
The value of a good as determined in the market at a specific point in time or what individuals in the market for the
good are willing to pay to obtain the good at a given point in time.
Net Assets
The excess of assets over liabilities or the residual interest in the institution's assets remaining after liabilities are
deducted. The change in net assets results from revenues, gains, expenses, and losses. FASB institutions classify net
assets into three categories: permanently restricted, temporarily restricted, and unrestricted. This term is similar to
the "Net position" term used by GASB instiutions.
Net grant aid to students
(expenses)
The portion of scholarships and fellowships granted by an institution that exceeds the amount applied to institutional
charges such as tuition and fees or room and board. The amount reported as expense excludes allowances.
Operation and maintenance
of plant
A functional expense category that includes expenses for operations established to provide service and maintenance
related to campus grounds and facilities used for educational and general purposes. Specific expenses include
utilities, fire protection, property insurance, and similar items. This function does include amounts charged to
auxiliary enterprises, hospitals, and independent operations. Also includes information technology expenses related
to operation and maintenance of plant activities if the institution separately budgets and expenses information
technology resources (otherwise these expenses are included in institutional support). Institutions may, as an option,
distribute depreciation expense to this function.
Other federal grants
Federal monies awarded to the institution under federal government student aid programs, such as the Federal
Supplemental Educational Opportunity Grants (FSEOG), DHHS training grants (aid portion only), the Leveraging
Education Assistance Partnership (LEAP) program, and other federal student aid programs. Pell grants are not
included in this classification. Note: if the federal government selects the student recipients and simply transmits the
funds to the institution for disbursement to the student, the amounts are not considered as revenues and
subsequently there are no discounts and allowances or scholarships and fellowships expenses. If the funds are made
available to the institution for selection of student recipients, then the amounts received are considered as
nonoperating revenues and subsequently as discounts and allowances or scholarships and fellowships expenses.
Other specific changes in net
assets
Changes that occur infrequently rather than on a regular basis, but still affect the net assets of the institution.
Included in this category are: actuarial gain or (loss) on split interest agreements; gain or (loss) on sale of plant
assets; other gain or (loss); discontinued operations; extraordinary gain or (loss); and cumulative effect of change(s)
in accounting principle.
Pell Grant program
(Higher Education Act of 1965, Title IV, Part A, Subpart I, as amended.) Provides grant assistance to eligible
undergraduate postsecondary students with demonstrated financial need to help meet education expenses.
Permanent endowment
Funds held by an institution that must be held in perpetuity with only the income available for use. Endowments are
usually the result of a gift or grant received that is required to be held in perpetuity by the donor or granting agency.
Permanently restricted
Net assets of FASB institutions that must be maintained in perpetuity. Permanently restricted net assets increase
when institutions receive contributions for which donor-imposed restrictions limiting the institution's use of an asset
or its economic benefits neither expire with the passage of time nor can be removed by the organization's meeting
certain requirements. Donor-imposed restrictions on the use of the investment income on the assets may also
change the amount of such net assets. Permanent endowment funds are the most common example.
Physical plant assets
These assets consist of land, buildings, improvements, equipment, and library books. Excluded are assets that are
part of endowment or other capital fund investments in real estate. Construction in progress is excluded from this
total until completed.
Physical plant indebtedness
Debt incurred in financing the institution's capital assets, including bonds, mortgages, notes, capital leases, and any
other outstanding debt that was incurred to acquire, construct, or improve capital assets such as land, buildings, and
improvements other than buildings, equipment, and library books. Excludes indebtedness that is part of endowment
or other capital fund investments in real estate. Also excludes construction in progress.
Private gifts (Revenues)
Revenues from private (non-governmental) entities including revenues received from gift or contribution
nonexchange transactions (including contributed services) except those from affiliated entities. Includes bequests,
promises to give (pledges), gifts from an affiliated organization or a component unit not blended or consolidated, and
income from funds held in irrevocable trusts or distributable at the direction of the trustees of the trusts. Includes
any contributed services recognized (recorded) by the institution.
Private gifts, grants and
contracts (revenues)
Revenues from private donors for which no legal consideration is involved and from private contracts for specific
goods and services provided to the funder as stipulation for receipt of the funds. Includes only those gifts, grants,
and contracts that are directly related to instruction, research, public service, or other institutional purposes.
Includes monies received as a result of gifts, grants, or contracts from a foreign government. Also includes the
estimated dollar amount of contributed services.
Private grants and contracts
(Revenues)
Revenues from private (non-governmental) entities that are for specific research projects, other types of programs,
or for general institutional operations (if not government appropriations). Examples are research projects, training
programs, and similar activities for which amounts are received or expenses are reimbursable under the terms of a
grant or contract, including amounts to cover both direct and indirect expenses.
Public service
A functional expense category that includes expenses for activities established primarily to provide noninstructional
services beneficial to individuals and groups external to the institution. Examples are conferences, institutes, general
advisory service, reference bureaus, and similar services provided to particular sectors of the community. This
function includes expenses for community services, cooperative extension services, and public broadcasting services.
Also includes information technology expenses related to the public service activities if the institution separately
budgets and expenses information technology resources (otherwise these expenses are included in academic
support). Institutions include actual or allocated costs for operation and maintenance of plant, interest, and
depreciation.
Quasi-endowment funds
Funds established by the governing board to function like an endowment fund but which may be totally expended at
any time at the discretion of the governing board. These funds represent nonmandatory transfers from the current
fund rather than a direct addition to the endowment fund, as occurs for the true endowment categories.
Research
A functional expense category that includes expenses for activities specifically organized to produce research
outcomes and commissioned by an agency either external to the institution or separately budgeted by an
organizational unit within the institution. The category includes institutes and research centers, and individual and
project research. This function does not include nonresearch sponsored programs (e.g., training programs). Also
included are information technology expenses related to research activities if the institution separately budgets and
expenses information technology resources (otherwise these expenses are included in academic support.)
Institutions include actual or allocated costs for operation and maintenance of plant, interest, and depreciation.
Restricted net assets (FASB
institutions only)
Assets held by the institution upon which restrictions have been placed by donors. These restrictions may be
temporary or permanent. They restrict the institution in its use of the assets and/or the period of time for which the
restriction applies.
Revenues
The inflow of resources or other enhancement of net assets (or fund balance) of an institution or settlements of its
liabilities (or a combination of both) from delivering or producing goods, rendering services, or other activities that
constitute the institution's ongoing major or central operations. Includes revenues from fees and charges,
appropriations, auxiliary enterprises, and contributions and other nonexchange transactions. Revenues are reported
net of discounts and allowances (that is, the revenue reported is reduced by the amount of discounts and
allowances) for FASB institutions and for GASB institutions that have implemented GASB Statement No. 34.
Salaries and wages
Amounts paid as compensation for services to all employees - faculty, staff, part-time, full-time, regular employees,
and student employees. This includes regular or periodic payment to a person for the regular or periodic performance
of work or a service and payment to a person for more sporadic performance of work or a service (overtime, extra
compensation, summer compensation, bonuses, sick or annual leave, etc.).
Sales and services of
educational activities
(revenues)
Revenues from the sales of goods or services that are incidental to the conduct of instruction, research or public
service. Examples include film rentals, sales of scientific and literary publications, testing services, university presses,
dairy products, machine shop products, data processing services, cosmetology services, and sales of handcrafts
prepared in classes.
Scholarships and fellowships
Outright grants-in-aid, trainee stipends, tuition and fee waivers, and prizes awarded to students by the institution,
including Pell grants. Awards to undergraduate students are most commonly referred to as "scholarships" and those
to graduate students as "fellowships." These awards do not require the performance of services while a student (such
as teaching) or subsequently as a result of the scholarship or fellowship. The term does not include loans to students
(subject to repayment), College Work-Study Program (CWS), or awards granted to a parent of a student because of
the parent's faculty or staff status. Also not included are awards to students where the selection of the student
recipient is not made by the institution.
State and local government
grants
State and local monies awarded to the institution under state and local student aid programs, including the state
portion of State Student Incentives Grants (SSIG). (Used for reporting Student Financial Aid data)
State grants (revenues)
A sum of money or property bestowed on a postsecondary institution by a state government.
Student services
A functional expense category that includes expenses for admissions, registrar activities, and activities whose
primary purpose is to contribute to students emotional and physical well-being and to their intellectual, cultural, and
social development outside the context of the formal instructional program. Examples include student activities,
cultural events, student newspapers, intramural athletics, student organizations, supplemental instruction outside the
normal administration, and student records. Intercollegiate athletics and student health services may also be
included except when operated as self-supporting auxiliary enterprises. Also may include information technology
expenses related to student service activities if the institution separately budgets and expenses information
technology resources(otherwise these expenses are included in institutional support.) Institutions include actual or
allocated costs for operation and maintenance of plant, interest, and depreciation.
Title IV institution
An institution that has a written agreement with the Secretary of Education that allows the institution to participate
in any of the Title IV federal student financial assistance programs (other than the State Student Incentive Grant
(SSIG) and the National Early Intervention Scholarship and Partnership (NEISP) programs).
Tuition and fees (published
charges)
The amount of tuition and required fees covering a full academic year most frequently charged to students. These
values represent what a typical student would be charged and may not be the same for all students at an institution.
If tuition is charged on a per-credit-hour basis, the average full-time credit hour load for an entire academic year is
used to estimate average tuition. Required fees include all fixed sum charges that are required of such a large
proportion of all students that the student who does not pay the charges is an exception.
Unrestricted net assets
The net assets of both FASB and GASB institutions that do not fit the definition of other categories of net assets.
These are net assets held by the institution upon which no restrictions have been placed by the donor or other party
external to the institution.
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IPEDS Help Desk
(877) 225-2568 or [email protected]
NCES National Center for Education Statistics
2015-16 Survey Materials > FAQ
date: 8/4/2015
Finance
Click one of the following questions to view the answer.
General
1) Who is required to complete this survey?
2) Where do I get the data to fill out this survey?
3) My institution does not award degrees. Do we still need to complete the Finance component?
4) What period should the finance survey cover?
5) We haven’t been audited yet and won’t have an audited financial statement until May. Do I still have to fill this out?
6) What is combined ("parent/child") reporting and how does it work?
7) When does a system office need to report data?
8) Can a system office report combined data?
9) How do I know what reporting standards are used to prepare the financial statements?
10) The fiscal year for my institution changed. How do I report for the finance survey?
11) What is the difference between “business-type” activities and “governmental” activities?
12) My institution is part of a system and the system was audited as a unit, so we don’t have an opinion just on this school.
How do I answer the question about the audit opinion?
13) How are revenues per student FTE and expenses per student FTE calculated, and why were they added to the screens?
Public Institutions Using GASB Standards
1) Can public institutions report using FASB?
2) What happens if I respond incorrectly to the reporting standards screening question?
3) I see the term CV on several lines of the finance survey. What is this referring to?
4) Where did component units go?
5) How do I report deferred outflows and deferred inflows in Part A: Statement of Financial Position?
6) We do not capitalize our library. Do I report it on Part A page 2?
7) If my institution is a GASB-reporter, where should my institution report the gain or loss on the sale of a plant asset?
8) What are discounts and allowances (Part E)? (We don’t discount our tuition.)
9) What are operating versus nonoperating revenues?
10) We reported federal appropriations in operating revenues rather than non-operating revenues in our financial statements.
How should I report them on IPEDS?
11) My institution received funds from the American Recovery and Reinvestment Act (ARRA). Where should they be reported?
12) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
13) What are some examples of independent operations?
14) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
15) How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M), and interest
expenses to the other functional expense categories in Part C?
16) Why does operation and maintenance of plant appear as both a row and column in Part C (expenses and other
deductions)?
17) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An
expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
18) What are the impacts of GASB Statement 68 on IPEDS finance reporting? Are all institutions affected?
19) Parts JKL: Why can't institutions report negative numbers in the census data sections?
20) Part J: Where should ARRA grants be counted?
21) Part J: Should endowment funds held by component units be reported here?
Private Not-for-Profit and Public Institutions Using FASB
1) I see the term CV on several lines of the finance survey. What is this referring to?
2) What value do I use to report plant, property, and equipment on the second page of Part A?
3) What are allowances in Part C (Scholarships and Fellowships)?
4) What is the difference between funded and unfunded institutional grants as reported on the Scholarships and Fellowships
part of the survey?
5) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
6) My institution is primarily a hospital with a small instruction program. How should I report the hospital part of my
institution?
7) What are some examples of independent operations?
8) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
9) How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M), and interest
expenses to the other functional expense categories in Part C?
10) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?
11)
My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An
expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
Private for-profit institutions
1) I see the term CV on several lines of the finance survey. What is this referring to?
2) What income tax expenses should my institution report if I belong to both a multi-institution/multi-campus organization and
an IPEDS parent/child relationship?
3) What value do I use to report plant, property, and equipment on the second page of Part A?
4) What are allowances in Part C (Scholarship and Fellowships)?
5) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
6) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
7) The financial records of my institution do not break down expenses the way they are listed on Part E. How do I report
expenses for my institution?
8) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?
9) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An
expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
Answers:
General
1)
Who is required to complete this survey?
All Title IV postsecondary institutions are required to respond to the Finance survey. Institutions that have a Program
Participation Agreement (PPA) with the Department of Education are required to respond. HOWEVER, if your institution is a
branch campus of another institution and you SHARE a PPA, then you may make arrangements with the Help Desk to submit
one finance survey that covers all of your campuses. Because data provided for institutions are most useful if reported
individually, campuses are encouraged to report separately if possible, but reporting together is allowed if the campuses share a
PPA.
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2)
Where do I get the data to fill out this survey?
Each institution should have annual financial statements that are audited by an outside auditor. These financial statements are
referred to as general purpose financial statements (GPFS). The finance survey is designed to follow the format of the financial
statements suggested by the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board
(GASB). Some of the data necessary to complete the IPEDS Finance Survey may require institutions to adjust the amounts
reported in their GPFS; typically these adjustments pull in information included in the notes to the financial statements.
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3)
My institution does not award degrees. Do we still need to complete the Finance component?
Yes. However, the finance survey forms for non degree-granting institutions requires less information to be provided than for
degree-granting institutions.
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4)
What period should the finance survey cover?
The finance survey data should come from the last fiscal year that ended on or before October 31, 2015. For example, if your
institution’s fiscal year ends on June 30, it would come from the financial statements covering the year ending June 30, 2015. If
your institution’s fiscal year ends on December 31, your financial statements for the year ending December 31, 2014 would be
used.
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5)
We haven’t been audited yet and won’t have an audited financial statement until May. Do I still have to fill
this out?
YES, you must complete the finance component. Base your response on the information you have at this point. Answer the
audit question as “don’t know” and make a note in the context section that the financial statements have not yet been audited.
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6)
What is combined ("parent/child") reporting and how does it work?
Institutional keyholders MUST call the Help Desk before reporting combined data. A Help Desk representative will set up a
combined reporting situation for you. We call this a “parent/child” relationship. In this case, one institution reports data for the
entire unit, which includes the main campus (parent) and all branch campuses (children). All institutions in the combined report
MUST share the same Program Participation Agreement (PPA). Multiple institutions MUST NOT report identical combined data for
the same audit. Please refer to http://nces.ed.gov/ipeds/factsheets/fct_new_finance_2.asp for more information on parent/child
relationships.
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7)
When does a system office need to report data?
A system office needs to report data when reporting combined data or when it has its own separate budget. If a system office’s
budget is integrated into an institution such as a flagship university, it may be included in that institution’s finance survey.
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8)
Can a system office report combined data?
A system office may report combined data for institutions that are included it its system- wide audit if they are included in the
same PPA. For institutions that are not included in the same PPA, the system may report Part A data (Statement of Net Assets,
Statement of Financial Position, or Balance Sheet) for the institutions included in the system-wide audit, but each institution
must report its own revenues, expenses, and scholarships. A more detailed description may be found at
http://nces.ed.gov/ipeds/factsheets/fct_new_finance_2.asp. If a system will be reporting this way, they must contact the Help
Desk before reporting combined data.
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9)
How do I know what reporting standards are used to prepare the financial statements?
Ask your finance officer. This person should be aware of any changes in accounting standards. Typically, public institutions
report using GASB report standards whereas private institutions report using FASB standards.
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10) The fiscal year for my institution changed. How do I report for the finance survey?
A change in fiscal year usually creates a short fiscal year (from the previous fiscal year end date to the new fiscal year end
date). This short fiscal year should be covered by the finance survey. The next finance survey should cover a full fiscal year.
Also, indicate this change in fiscal year in the caveats box at the bottom of the first page of the survey.
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11) What is the difference between “business-type” activities and “governmental” activities?
These activity types refer to how the institution reports, or will report, its financial activities in their general purpose financial
statements (GPFS), as defined in GASB Statement 34. Governmental activities generally are financed through taxes,
intergovernmental revenues, and other nonexchange revenues. Business-type activities are financed in whole or in part by fees
charged to external parties for goods or services.
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12) My institution is part of a system and the system was audited as a unit, so we don’t have an opinion just on
this school. How do I answer the question about the audit opinion?
You should base your answer on the audit for the system since that audit includes your institution.
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13) How are revenues per student FTE and expenses per student FTE calculated, and why were they added to the
screens?
The calculation of these values takes the amounts reported for revenues and expenditures from the finance survey form and
divides those amounts by the 12 month FTE student enrollment from the 12 month enrollment survey that was completed in
the fall data collection. These calculated values are used by the system to compare the data reported by the institution to the
data of institutions that are in the same sector (e.g., public/private, 4-year/2-year) to see if the calculated value is an extreme
value that is too high or low. While it is not anticipated that your institution would have the same overall revenue or expenses,
this comparison may be useful for ensuring that all appropriate amounts have been included in the finance survey component,
or excluded when appropriate.
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Public Institutions Using GASB Standards
1)
Can public institutions report using FASB?
Yes, but only in very rare instances. Your finance/business officer will know which version of the finance component should be
completed.
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2)
What happens if I respond incorrectly to the reporting standards screening question?
You will get the wrong finance forms. If you find you have responded incorrectly, go back to the screening question and change
your response. When you save the screen the old data will disappear and the new correct forms will be available.
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3)
I see the term CV on several lines of the finance survey. What is this referring to?
CV is an abbreviation for Calculated Value. You do not need to enter an amount on this line. Once you click on Verify and Save,
the system will calculate the amount based on other data you have entered. A formula may be found in the same block where
you find the abbreviation CV.
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4)
Where did component units go?
Separate reporting was eliminated when institutions moved to the new aligned reporting that was mandatory starting in 201011. Because the reporting of component units is unique to institutions using GASB standards (mostly used by public institutions)
and not required by those using FASB standards (mostly private institutions), alignment would be better achieved if these units
were not included. However, component unit information should still be included when reporting endowment assets in Part H.
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5)
How do I report deferred outflows and deferred inflows in Part A: Statement of Financial Position?
In order to comply with GASB Statement 63, deferred outflows and deferred inflows will need to be reported in Part A:
Statement of Financial Position. Deferred outflows of resources should be included in Line 01 " Total Current Assets" and
deferred inflows of resources should be included in Line 09 "Total Current Liabilities." This will cause the total assets to equal
total assets plus deferred outflows of resources and total liabilities to equal total liabilities plus deferred inflows of resources.
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6)
We do not capitalize our library. Do I report it on Part A page 2?
If you do not capitalize it, do not report it in property, plant, and equipment.
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7)
If my institution is a GASB-reporter, where should my institution report the gain or loss on the sale of a plant
asset?
Such components in the changes in the net assets of the institution should be reflected in Line 05 in Part D - Summary of
Changes in Net Assets. Although this line is a calculated value that is entitled, Adjustments to beginning net assets, this is the
most appropriate place for these values to be captured (instead of as Other revenue or Other expenses in Part B or C). Although
this type of transaction is NOT an adjustment to beginning net assets, this is the best place for it to be captured in the IPEDS
finance component for comparability with FASB-reporters. Additionally, institutions having such type of transactions should
explain that in the context box available in Part D.
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8)
What are discounts and allowances (Part E)? (We don’t discount our tuition.)
Discounts and allowances are simply the part of scholarships used to pay institutional charges such as tuition and fees or room
and board. The difference between total scholarships (reported in the top part of Part E) and net scholarships expenses
(reported on Part C) is total discounts and allowances.
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9)
What are operating versus nonoperating revenues?
Operating revenues are received in exchange for goods or services provided, such as sales or tuition. The payer must also be
the one who receives the services. Nonoperating revenues result from “nonexchange transactions” such as donations, state
appropriations, tax revenues, and certain grants.
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10) We reported federal appropriations in operating revenues rather than non-operating revenues in our financial
statements. How should I report them on IPEDS?
Federal appropriations are usually accounted for as non-operating revenues, similarly to state appropriations. Amounts reported
as federal appropriations are intended to meet current operating expenses, and not generally intended for a specific purpose as
operating revenues are. If, however, the institution included the revenue in operating revenue, report it there for purposes of
IPEDS as well.
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11) My institution received funds from the American Recovery and Reinvestment Act (ARRA). Where should they
be reported?
GASB-reporting institutions should report ARRA revenues into the total included in Part B, line 19 (Total nonoperating
revenues).
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12) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
No, these VA education benefits should not be included as “federal grant” in the Finance revenue section or as “other federal
student grant aid” in the scholarship/fellowship section. They should be reported as "tuition and fees" revenue received from the
student. VA education benefits should also not be included as discounts/allowances.
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13) What are some examples of independent operations?
Independent operations include federally funded labs such as Argonne at the University of Chicago, the Livermore Labs in the
UC system, and the Jet Propulsion Lab at Cal Tech. These are major ancillary operations that are related to the primary
missions of instruction, research, and public service but they are so significant as to warrant separate classification.
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14) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
This amount is a calculated value. It is derived by subtracting the sum of the detail items above this amount from the total
below it. Negative amounts in these fields are caused when the total entered is less that the sum of the detail items entered.
Check for keying errors and recheck totals. Nonoperating expenses, such as interest on debt, should be reported on Part C.
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15) How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M),
and interest expenses to the other functional expense categories in Part C?
The National Association of College and University Business Officers (NACUBO) has prepared an advisory report (AR 2010-1),
entitled, Public Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest
Expenses to Functional Expense Categories http://www.nacubo.org/Documents/BusinessPolicyAreas/AR_2010_1.pdf to assist
public institutions in developing an approach to allocating these expenses among the functional expense categories. The
Advisory Report steps through a cost allocation approach. Because independent institutions have been allocating such costs for
more than a decade, the Report focuses on methods currently used by independent institutions.
Operation and maintenance expenses should still also be reported in their applicable natural categories, including salaries,
employee benefits, interest, depreciation, and all other expenses. The operations and maintenance column of the operations
and maintenance row must be the negative amount of total operations and maintenance.
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16) Why does operation and maintenance of plant appear as both a row and column in Part C (expenses and other
deductions)?
In the new aligned form for GASB institutions, operation and maintenance of plant appear as both a row and column in Part C
(expenses and other deductions). The row and column are designed to be used to show how the institution distributes operation
and maintenance (O&M) of plant expenses. The total row and column have zeroes for O&M. Consequently, the cell where the
O&M column and row intersect should be a negative number equal to the total O&M expenses of the institution.
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17) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce
costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
The $5 million dollars in expense should be reported in the Total amount of the Employee fringe benefits or Benefits (rather
than being allocated across the other functions such as Instruction, Research, or Institutional support). By doing so, the $5
million dollar expense will appear as an Other expenses & deductions within the benefits column. The consequence of this
reporting is that the one-time early retirement buyout will not affect the historical nature of total or benefits costs by function.
An explanation may also be added to the context box to explain this early retirement buyout. The Financial Accounting and
Reporting Manual (FARM) from the National Association of College and University Business Officers offers little guidance on this
topic. However, the FARM contains useful language from GASB (Statement 47) and FASB (Concept Statement 2) indicating that
such expenses should be treated as benefits: “In financial statements based on accrual accounting, employers should recognize
a liability and expense for voluntary termination benefits (for example, early-retirement incentives) when the offer has been
accepted and the amount can be estimated.”
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18) What are the impacts of GASB Statement 68 on IPEDS finance reporting? Are all institutions affected?
GASB Statement 68 will likely impact liabilities, expenses, resource deferrals, and ultimately net position for public institutions
or higher education systems that participate in their state’s defined benefit plan (agent or cost sharing), or have their own plan.
These institutions are advised:
•
In Part C, to allocate the unfunded pension and related expenses across the functional categories in column 3
(e.g., instruction, research, etc.), as reported on their GPFS.
Note that if a public institution does not have a defined benefit plan, there is no GASB 68 impact. Similarly, if a public institution
is part of a higher education system and the system reflects the additional unfunded pension expense and liability (and does not
allocate the expense and liability to the individual institutions), then there is also no impact from Statement 68 for the individual
public institution. Institutions with branch campuses that are not required to allocate pension expense and liabilities to each
campus will also not be impacted by GASB 68.
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19) Parts JKL: Why can't institutions report negative numbers in the census data sections?
Negative numbers would either belong on the opposite section, (e.g., a negative expenditure should be counted as a revenue),
or not reported if there were no cash exchange.
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20) Part J: Where should ARRA grants be counted?
Report ARRA grants under Part J, Line 03 (Federal Grants and Contracts).
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21) Part J: Should endowment funds held by component units be reported here?
While endowment funds held by component units are included with Part H, they should be excluded in Part J. Census
instructions state to "Exclude gifts to component units."
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Private Not-for-Profit and Public Institutions Using FASB
1)
I see the term CV on several lines of the finance survey. What is this referring to?
CV is an abbreviation for Calculated Value. You do not need to enter an amount on this line. Once you click on Verify and Save,
the system will calculate the amount based on other data you have entered. A formula may be found in the same block where
you find the abbreviation CV.
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2)
What value do I use to report plant, property, and equipment on the second page of Part A?
This is the book value (or the value reported in the accounting records) of these assets without consideration for accumulated
depreciation. This amount should be reported in the notes to the financial statements, or may be supplied by the
business/finance officer of the institution.
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3)
What are allowances in Part C (Scholarships and Fellowships)?
Allowances are the portion of scholarships awarded to students that are used to pay institutional charges such as tuition and
fees or room and board.
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4)
What is the difference between funded and unfunded institutional grants as reported on the Scholarships and
Fellowships part of the survey?
Funded grants are institutional resources restricted for student aid, such as scholarships and fellowships. They have been
restricted by an outside source such as a donor or contract. Unfunded institutional grants are those that are awarded to
students from unrestricted institutional resources.
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5)
Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
No, these VA education benefits should not be included as “federal grant” in the Finance revenue section or as “other federal
student grant aid” in the scholarship/fellowship section. They should be reported as "tuition and fees" revenue received from the
student. VA education benefits should also not be included as discounts/allowances.
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6)
My institution is primarily a hospital with a small instruction program. How should I report the hospital part
of my institution?
Hospitals with a small nursing school or radiologic technology program should report activity for the instructional program only.
The hospital revenues and expenses should not be included. If the instructional program revenues and expenses cannot be
separated from the hospital, contact the Help Desk for further options for reporting.
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7)
What are some examples of independent operations?
Independent operations include federally funded labs such as Argonne at the University of Chicago, the Livermore Labs in the
University of California system, and the Jet Propulsion Lab at Cal Tech. These are major ancillary operations that are related to
the primary missions of instruction, research, and public service but they are so significant as to warrant separate classification.
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8)
I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
This amount is a calculated value. It is derived by subtracting the sum of the detail items above this amount from the total
below it. Negative amounts in these fields are caused when the total entered is less that the sum of the detail items entered.
Check for keying errors and recheck totals.
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9)
How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M),
and interest expenses to the other functional expense categories in Part C?
The National Association of College and University Business Officers (NACUBO) has prepared an advisory report (AR 2010-1),
entitled, Public Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest
Expenses to Functional Expense Categories http://www.nacubo.org/Documents/BusinessPolicyAreas/AR_2010_1.pdf to assist
public institutions in developing an approach to allocating these expenses among the functional expense categories. The
Advisory Report steps through a cost allocation approach. Because independent institutions have been allocating such costs for
more than a decade, the Report focuses on methods currently used by independent institutions.
Operation and maintenance expenses should still also be reported in their applicable natural categories, including salaries,
employee benefits, interest, depreciation, and all other expenses. The operations and maintenance column of the operations
and maintenance row must be the negative amount of total operations and maintenance.
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10) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?
The row and column are designed to be used to show how the institution distributes operation and maintenance (O&M) of plant
expenses. Since not- for-profit accounting does not recognize O&M as a function, the total row and column have zeroes for
O&M. Consequently, the cell where the O&M column and row intersect should be a negative number equal to the total O&M
expenses of the institution.
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11) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce
costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
The $5 million dollars in expense should be reported in the Total amount of the Employee fringe benefits or Benefits (rather
than being allocated across the other functions such as Instruction, Research, or Institutional support). By doing so, the $5
million dollar expense will appear as an Other expenses & deductions within the benefits column. The consequence of this
reporting is that the one-time early retirement buyout will not affect the historical nature of total or benefits costs by function.
An explanation may also be added to the context box to explain this early retirement buyout. The Financial Accounting and
Reporting Manual (FARM) from the National Association of College and University Business Officers offers little guidance on this
topic. However, the FARM contains useful language from GASB (Statement 47) and FASB (Concept Statement 2) indicating that
such expenses should be treated as benefits: “In financial statements based on accrual accounting, employers should recognize
a liability and expense for voluntary termination benefits (for example, early-retirement incentives) when the offer has been
accepted and the amount can be estimated.”
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Private for-profit institutions
1) I see the term CV on several lines of the finance survey. What is this referring to?
CV is an abbreviation for Calculated Value. You do not need to enter an amount on this line. Once you click on Verify and Save,
the system will calculate the amount based on other data you have entered. A formula may be found in the same block where
you find the abbreviation CV.
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2) What income tax expenses should my institution report if I belong to both a multi-institution/multi-campus
organization and an IPEDS parent/child relationship?
If the institution can report combined tax expenses for itself and child institutions, it is encouraged to do so. However, if the
institution cannot dis-aggregate tax expenses for itself and child institutions to report, it may report the aggregate amount paid
by the multi-institution/multi-campus organization.
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3) What value do I use to report plant, property, and equipment on the second page of Part A?
This is the book value (or the value reported in the accounting records) of these assets without consideration for accumulated
depreciation. This amount should be reported in the notes to the financial statements, or may be supplied by the
business/finance officer of the institution.
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4) What are allowances in Part C (Scholarship and Fellowships)?
Allowances are the portion of scholarships awarded to students that are used to pay institutional charges such as tuition and
fees or room and board.
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5) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
No, these VA education benefits should not be included as “federal grant” in the Finance revenue section or as “other federal
student grant aid” in the scholarship/fellowship section. They should be reported as "tuition and fees" revenue received from the
student. VA education benefits should also not be included as discounts/allowances.
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6) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
This amount is a calculated value. It is derived by subtracting the sum of the detail items above this amount from the total
below it. Negative amounts in these fields are caused when the total entered is less that the sum of the detail items entered.
Check for keying errors and recheck totals.
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7) The financial records of my institution do not break down expenses the way they are listed on Part E. How do I
report expenses for my institution?
The National Association of College and University Business Officers (NACUBO) has prepared an advisory report (AR 2010-1),
entitled, Public Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest
Expenses to Functional Expense Categories http://www.nacubo.org/Documents/BusinessPolicyAreas/AR_2010_1.pdf to assist
public institutions in developing an approach to allocating these expenses among the functional expense categories. The
Advisory Report steps through a cost allocation approach. Because independent institutions have been allocating such costs for
more than a decade, the Report focuses on methods currently used by independent institutions.
Operation and maintenance expenses should still also be reported in their applicable natural categories,
including salaries, employee benefits, interest, depreciation, and all other expenses. The operations and
maintenance column of the operations and maintenance row must be the negative amount of total
operations and maintenance. If you need further assistance classifying your expenses, please call the Help Desk.
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8) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?
The row and column are designed to be used to show how the institution distributes operation and maintenance (O&M) of plant
expenses. Since not- for-profit accounting does not recognize O&M as a function, the total row and column have zeroes for
O&M. Consequently, the cell where the O&M column and row intersect should be a negative number equal to the total O&M
expenses of the institution.
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9) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce
costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
The $5 million dollars in expense should be reported in the Total amount of the Employee fringe benefits or Benefits (rather
than being allocated across the other functions such as Instruction, Research, or Institutional support). By doing so, the $5
million dollar expense will appear as an Other expenses & deductions within the benefits column. The consequence of this
reporting is that the one-time early retirement buyout will not affect the historical nature of total or benefits costs by function.
An explanation may also be added to the context box to explain this early retirement buyout. The Financial Accounting and
Reporting Manual (FARM) from the National Association of College and University Business Officers offers little guidance on this
topic. However, the FARM contains useful language from GASB (Statement 47) and FASB (Concept Statement 2) indicating that
such expenses should be treated as benefits: “In financial statements based on accrual accounting, employers should recognize
a liability and expense for voluntary termination benefits (for example, early-retirement incentives) when the offer has been
accepted and the amount can be estimated.”
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2015-16 Survey Materials > Narrative Edits
date: 8/4/2015
Finance for Degree-granting, Public and Private not-for-profit institutions using FASB Reporting
Standards
Edit specifications for the 2015-16 IPEDS Web-Based Data Collection
Finance Component
Applicable to Degree-granting, Private not-for-profit and Public institutions using FASB reporting
standards that are NOT 'full children'
NOTE: The specifications in this document apply to the institutions listed above and related administrative offices.
Some sections and parts may not apply to your particular institution. Please read the specifications carefully to
determine which sections and/or parts apply to your institution.
All screens must be completed in order to lock the survey.
Screening Questions
Part A: Statement of Financial Position
Part B: Summary of Changes in Net Assets
Part C: Scholarships and Fellowships
Part D: Revenues and Investment Return
Part E: Expenses by Functional and Natural Classification
Part H: Value of Endowment Assets
Please note that in the Finance survey component, administrative offices that are full parents must
complete screens based on the level of their full child institution.
Screening Questions
Reporting Method
Applicable to public institutions
To begin this survey, you must indicate which reporting standards your institution uses to prepare its financial statements.
Your options include the following:
•
•
GASB (Governmental Accounting Standards Board), using standards of GASB 34 & 35
FASB (Financial Accounting Standards Board)
Note: If you select GASB for the question above, then you are not referencing the correct narrative edit document. Please
refer to the document for public institutions using GASB Reporting Standards.
General Information
On this screen, you must provide the following information. The answers given here will determine which screens your
institution is shown throughout the remainder of this survey.
•
•
•
•
•
Enter the Beginning date for your institution’s Fiscal Year Calendar by month (MM) and year (YYYY). The date
reported should be for the most recent fiscal year ending before October 1, 2015.
Enter the Ending date for your institution’s Fiscal Year Calendar by month (MM) and year (YYYY). The date reported
should be for the most recent fiscal year ending before October 1, 2015.
Indicate the type of audit opinion your institution received on its General Purpose Financial Statements for the fiscal
year specified above. You may choose from the following options:
◦ Unqualified
◦ Qualified (If this option is selected, then you must explain the nature of the qualification in the context box at
the bottom of the screen.)
◦ Don’t know (If this option is selected, then you must provide an explanation in the context box at the bottom
of the screen.)
Does your institution or any of its foundations or other affiliated organizations own endowment assets? Choose No or
Yes.
◦ If Yes is selected, an additional screen will be provided to report these assets in Part H.
Indicate how your institution accounts for intercollegiate athletic expenses. You may choose from the following
options:
•
◦ Auxiliary enterprises
◦ Student services
◦ Does not participate in intercollegiate athletics
◦ Other (If this option is selected, then you must specify in the context box at the bottom of the screen.)
Does your institution account for Pell grants as pass through transactions (a simple payment on the student’s account)
or as federal grant revenues to the institution? You may choose from the following options:
◦ Pass through (agency)
◦ Federal grants
◦ Does not award Pell grants
The system will perform the following edits on the data entered:
•
•
•
•
•
•
•
The Month entered for the Beginning date of the fiscal year should be between 1 and 12.
The Month entered for the Ending date of the fiscal year should be between 1 and 12.
The Year entered for the Beginning date of the fiscal year should be either 2013 or 2014.
The Year entered for the Ending date of the fiscal year should be either 2014 or 2015.
The fiscal year Beginning date cannot be earlier than October 2013.
The fiscal year Ending date cannot be later than October 2015.
The fiscal year Ending date must be between 1 and 12 months later than the reported fiscal year Beginning date.
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Part A: Financial Position
Applicable to institutions that are NOT partial children, amounts reported by parent institutions should include
ALL of the child institutions
For Part A, you must report details about your institution’s financial position for the most recent 12-month fiscal year.
Statement of Financial Position, Page 1 (Assets and Liabilities)
On this screen, enter the Current year amount for each of the following:
•
•
•
•
•
•
•
•
•
Long term investments (line 01)
Property plant, and equipment, net of accumulated depreciation (line 19)
Intangible assets, net of accumulated amortization (line 20)
Total assets (line 02)
Total liabilities (line 03)
Debt related to Property, Plant, and Equipment (line 03a)
Unrestricted net assets (line 04)
Permanently restricted net assets (line 05a)
Temporarily restricted net assets (line 05b)
Upon saving the screen, the system uses the above values to calculate additional information which may be used throughout
this survey. Prior year amounts are displayed for your reference.
The system will perform the following edits on the data entered:
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
The value reported for Long-term investments (line 01) is expected to be greater than 0.
The value reported for Long-term investments is expected to be less than or equal to the value reported for Total
assets (line 02).
A value must be entered for Total assets (line 02).
The value reported for Total assets is expected to be greater than 0.
If the Prior year amount of Total assets is greater than 0, then the current year value may NOT be equal to that
amount.
The value reported for Total assets is expected to be within a 50% range of the corresponding Prior year amount.
A value must be entered for Total liabilities (line 03).
The value reported for Total liabilities is expected to be greater than 0.
If the Prior year amount of Total liabilities is greater than 0, then the current year value may NOT be equal to that
amount.
The value reported for Total liabilities is expected to be within a 50% range of the corresponding Prior year
amount.
The value reported for Debt related to Property, Plant, and Equipment (line 03a) cannot be negative.
The value reported for Debt related to Property, Plant, and Equipment (line 03a) must be less than or equal to
the value reported for Total liabilities (line 03).
A value must be entered for Unrestricted net assets (line 04).
The value reported for Unrestricted net assets is expected to be greater than 0.
The value reported for Unrestricted net assets (line 04) is expected to be less than or equal to the value reported
for Total assets (line 02).
The calculated value for Total restricted net assets (line 05) is expected to be less than or equal to the value
reported for Total assets (line 02).
The value reported for Temporarily restricted net assets (line 05b) cannot be negative.
•
•
•
The calculated value for Total net assets (line 060) is expected to be greater than 0.
The calculated value of Total net assets is expected to be within a 50% range of the corresponding Prior year
amount.
The calculated value for Total net assets (line 06) must be equal to the difference between Total assets (line 02)
and Total liabilities (line 03).
Statement of Financial Position, Page 2 (Plant and Property)
On this screen, enter the Ending balance for each of the following:
•
•
•
•
•
•
Land and land improvements (line 11)
Buildings (line 12)
Equipment, including art and library collections (line 13)
Construction in progress (line 15)
Other (line 16)
Accumulated depreciation (line 18)
Upon saving the screen, the system uses the first five items above to calculate a Total Plant, Property, and Equipment
value for use throughout this survey. Prior year amounts are displayed for your reference, as well as the Property, Plant,
and Equipment, net of accumulated depreciation value (line 19) from the Statement of Financial Position, Page 1
screen outlined above.
The system will perform the following edits on the data entered:
•
•
•
•
•
•
The value reported for Land and land improvements (line 11) is expected to be greater than 0.
The value reported for Buildings (line 12) is expected to be greater than 0.
If your institution is NOT an administrative office, then a value must be entered for Equipment (line 13).
The value reported for Equipment is expected to be greater than 0.
The calculated value for Total Plant, Property, and Equipment (line 17) is expected to be greater than 0.
The preloaded value for Property, Plant, and Equipment, net of accumulated depreciation (line 19) must be
equal to the difference between Total Plant, Property, and Equipment (line 17) and Accumulated depreciation
(line 18).
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Part B: Summary of Changes in Net Assets
On this screen, you must report details about your institution’s changes in net assets for the most recent 12-month fiscal
year.
Note: If your institution is a partial parent, then the amounts reported on this screen should include ALL of your child
institutions.
Enter the Current year amount for each of the following:
•
•
•
•
Total revenues and investment return (line 01)
Total expenses (line 02)
Change in net assets (line 04)
Net assets, beginning of year (line 05)
Upon saving the screen, the system uses the above values to calculate additional information which may be used throughout
this survey. Prior year amounts are displayed for your reference, as well as the Net assets, end of year value from Part A
of this survey.
The system will perform the following edits on the data entered:
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The value reported for Total revenues and investment return (line 01) must be greater than 0.
If the Prior year amount of Total revenues and investment return is greater than 0, then the current year value
may NOT be equal to that amount.
The value reported for Total revenues and investment return is expected to be within a 30% range of the
corresponding Prior year amount.
The value reported for Total expenses (line 02) must be greater than 0.
If the Prior year amount of Total expenses is greater than 0, then the current year value may NOT be equal to
that amount.
The value reported for Total expenses is expected to be within a 30% range of the corresponding Prior year
amount.
If your institution is NOT an administrative office, and the value reported for Total expenses (line 02) is greater than
10 million, then the value reported for Total revenues and investment return (line 01) is expected to be less than
150% of that amount.
A value must be entered for Change in net assets (line 04).
The value reported for Change in net assets is expected to be greater than 0.
If the Prior year amount of Net assets, end of year (line 07) is greater than 0, then the current year value
reported for Net assets, beginning of year (line 05) is expected to be equal to that amount.
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The calculated value for Adjustments to beginning of year net assets (line 06) is expected to be between -10
million and 10 million.
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Part C: Scholarships and Fellowships
On this screen, you must report details about your institution’s scholarship and fellowship expenses for the most recent 12month fiscal year.
Enter the Current year amount for each of the following:
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Pell grants, federal (line 01)
Other federal grants (line 02)
State grants (line 03)
Local grants, government (line 04)
Institutional grants, funded (line 05)
Institutional grants, unfunded (line 06)
Allowances (scholarships) applied to tuition and fees (line 08)
Allowances (scholarships) applied to auxiliary enterprise revenues (line 09)
Upon saving the screen, the system uses the above values to calculate additional information which may be used throughout
this survey. Prior year amounts are displayed for your reference.
The system will perform the following edits on the data entered:
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If Federal grant revenue was selected for Question 5 on the General Information screen, then the value reported
for Pell grants (line 01) is expected to be greater than 0.
The value reported for Pell grants is expected to be within a 50% range of the corresponding Prior year amount.
A value must be entered for Institutional grants, funded (line 05).
The calculated value for Total scholarships and fellowships (line 07) is expected to be greater than 0.
If the Prior year amount of Total scholarships and fellowships is greater than 0, then the current year value
may NOT be equal to that amount.
The calculated value for Total scholarships and fellowships is expected to be within a 50% range of the
corresponding Prior year amount.
If the calculated value for Total scholarships and fellowships (line 07) is greater than 0, then the value reported
for Allowances (scholarships) applied to tuition and fees (line 08) is also expected to be greater than 0.
The value reported for Allowances (scholarships) applied to tuition and fees (line 08) must be less than or equal
to the calculated value for Total scholarships and fellowships (line 07).
The calculated value for Total scholarships and fellowships (line 07) must be greater than or equal to the sum of
Allowances (scholarships) applied to tuition and fees (line 08) and Allowances (scholarships) applied to
auxiliary enterprise revenues (line 09).
If Pass through (agency) was selected for Question 3 on the General Information screen, then the sum of
Allowances applied to tuition and fees (line 08) and Allowances applied to auxiliary enterprise revenues
(line 09) must be less than or equal to the amount of Total scholarships and fellowships (line 07) minus the
amount reported for Pell grants (line 01).
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Part D: Revenues and Investment Return
For Part D, you must report your institution’s revenues by source for the most recent 12-month fiscal year.
Applicable to 4-year institutions
For each applicable restriction type (Unrestricted, Temporarily restricted and Permanently restricted), enter the
amount of revenues received from each of the following sources of funding:
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Tuition and fees (line 01)
Federal appropriations (line 02)
State appropriations (line 03)
Local appropriations (line 04)
Federal grants and contracts (line 05)
State grants and contracts (line 06)
Local government grants and contracts (line 07)
Private gifts (line 08a)
Private grants and contracts (line 08b)
Contributions from affiliated entities (line 09)
Investment return (line 10)
Sales and services of educational activities (line 11)
Sales and services of auxiliary enterprises (line 12)
Hospital revenue (line 13)
Independent operations revenue (line 14)
Total revenues and investment return (line 16)
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Net assets released from restriction (line 17)
If your institution is a partial child or partial parent, then you must also report a Total Amount for Total revenues and
investment return (line 16). Otherwise, this information is preloaded from Part B of this survey.
Upon saving the screen, the system will use the above values to calculate a Total Amount for each source of funding, as well
as the amount of Other revenue (line 15) received by restriction type. The Prior Year Total Amount for each source of
funding is displayed for your reference.
Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 19). This value
is used in combination with the reported data to calculate the Total revenues and investment return per student FTE
(line 20).
The system will perform the following edits on the data entered:
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The value reported for Tuition and fees (line 01) is expected to be greater than 0.
The value reported for Tuition and fees is expected to be within a 50% range of the corresponding Prior Year Total
Amount.
For Federal grants and contracts (line 05), a value must be entered for each restriction type.
The Total Amount calculated for Private gifts (line 08a) cannot be negative.
For Private gifts, a value must be entered for each restriction type.
The Total Amount calculated for Private grants and contracts (line 08b) cannot be negative.
For Private grants and contracts, a value must be entered for each restriction type.
The Total Amount calculated for Investment Return (line 10) cannot be negative.
The Total Amount calculated for Hospital Revenue (line 13) is expected to be less than 75% of the Total Amount
reported for Total revenues and investment return (line 16).
The Total Amount calculated for Other Revenue (line 15) cannot be negative.
The Total Amount calculated for Other Revenue (line 15) is expected to be less than or equal to 75% of the Total
Amount reported for Total revenues and investment return (line 16).
For Other revenue (line 15), the value reported for each restriction type is not expected to be negative.
If your institution is a partial child or partial parent, then the Total Amount reported for Total revenues and
investment return (line 16) must be greater than 0.
If your institution is a partial child or partial parent, then the value reported for Total revenues and investment
return is expected to be within a 30% range of the corresponding Prior year amount.
The Total Amount reported for Total revenues and investment return (line 16) must be equal to the sum of the
values reported on this line for each restriction type.
The Permanently restricted revenue value reported for Net assets released from restriction (line 17) must be
equal to 0.
If a value greater than 0 is preloaded for 12-month student FTE from E12 (line 19), then the calculated value for
Total revenues and investment return per student FTE (line 20) is expected to be between 2,000 and 2 00,000.
If the value is greater than 250,000, then a fatal error will occur.
The following edits will compare the data entered on this screen to other parts of the Finance component:
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If Federal grant revenue was selected for Question 5 on the General Information screen, and the value reported
for Pell grants in Part C of this survey is greater than 0, then the value reported for Federal grants and contracts
(line 05) on this screen is expected to be greater than or equal to that amount.
If the value reported for Allowances applied to auxiliary enterprise revenues in Part C of this survey is greater
than 0, then the value reported for Sales and services of auxiliary enterprises (line 12) on this screen is expected
to be greater than 0.
If your institution is a partial child or partial parent, and a value greater than 0 is reported for Total revenues and
investment return in Part B, then the value reported for Total revenues and investment return in Part B of this
survey must be greater than the value reported for Total revenues and investment return (line 16) on this screen.
Applicable to 2-year institutions, and all administrative offices
For each applicable restriction type (Unrestricted, Temporarily restricted and Permanently restricted), enter the
amount of revenues received from each of the following sources of funding:
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Tuition and fees (line 01)
Federal appropriations (line 02)
State appropriations (line 03)
Local appropriations (line 04)
Federal grants and contracts (line 05)
State grants and contracts (line 06)
Local government grants and contracts (line 07)
Private gifts (line 08a)
Private grants and contracts (line 08b)
Contributions from affiliated entities (line 09)
Investment return (line 10)
Sales and services of educational activities (line 11)
Sales and services of auxiliary enterprises (line 12)
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Total revenues and investment return (line 16)
Net assets released from restriction (line 17)
If your institution is a partial child or partial parent, then you must also report a Total Amount for Total revenues and
investment return (line 16). Otherwise, this information is preloaded from Part B of this survey.
Upon saving the screen, the system will use the above values to calculate a Total Amount for each source of funding, as well
as the amount of Other revenue (line 15) received by restriction type. The Prior Year Total Amount for each source of
funding is displayed for your reference.
Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 19). This value
is used in combination with the reported data to calculate the Total revenues and investment return per student FTE
(line 20).
The system will perform the following edits on the data entered:
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If your institution is NOT an administrative office, then the value reported for Tuition and fees (line 01) is expected
to be greater than 0.
The value reported for Tuition and fees is expected to be within a 50% range of the corresponding Prior Year Total
Amount.
For Federal grants and contracts (line 05), a value must be entered for each restriction type.
The Total Amount calculated for Private gifts (line 08a) cannot be negative.
For Private gifts, a value must be entered for each restriction type.
The Total Amount calculated for Private grants and contracts (line 08b) cannot be negative.
For Private grants and contracts, a value must be entered for each restriction type.
The Total Amount calculated for Investment Return (line 10) cannot be negative.
The Total Amount calculated for Other Revenue (line 15) cannot be negative.
The Total Amount calculated for Other Revenue (line 15) is expected to be less than or equal to 75% of the Total
Amount reported for Total revenues and investment return (line 16).
For Other revenue (line 15), the value reported for each restriction type is not expected to be negative.
If your institution is a partial child or partial parent, then the Total Amount reported for Total revenues and
investment return (line 16) must be greater than 0.
If your institution is a partial child or partial parent, then the value reported for Total revenues and investment
return is expected to be within a 30% range of the corresponding Prior year amount.
The Total Amount reported for Total revenues and investment return (line 16) must be equal to the sum of the
values reported on this line for each restriction type.
The Permanently restricted revenue value reported for Net assets released from restriction (line 17) must be
equal to 0.
If your institution is a 2-year institution, NOT a n administrative office, and a value greater than 0 is preloaded for the
12-month student FTE from E12 (line 19), then the calculated value for Total revenues and investment return
per student FTE (line 20) is expected to be between 1,000 and 65,000. If the value is greater than 80,000, then a
fatal error will occur.
The following edits will compare the data entered on this screen to other parts of the Finance component:
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If Federal grant revenue was selected for Question 5 on the General Information screen, and the value reported
for Pell grants in Part C of this survey is greater than 0, then the value reported for Federal grants and contracts
(line 05) on this screen is expected to be greater than or equal to that amount.
If the value reported for Allowances applied to auxiliary enterprise revenues in Part C of this survey is greater
than 0, then the value reported for Sales and services of auxiliary enterprises (line 12) on this screen is expected
to be greater than 0.
If your institution is a partial child or partial parent, and a value greater than 0 is reported for Total revenues and
investment return in Part B, then the value reported for Total revenues and investment return in Part B of this
survey must be greater than the value reported for Total revenues and investment return (line 16) on this screen.
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Part E: Expenses by Functional and Natural Classification
For Part E, you must report your institution’s expenses by function for the most recent 12-month fiscal year.
Applicable to 4-year institutions
For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,
Depreciation, and Interest), enter the amount of operating and non-operating expenses incurred in each of the following
functional categories:
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Instruction (line 01)
Research (line 02)
Public service (line 03)
Academic support (line 04)
Student services (line 05)
Institutional support (line 06)
Auxiliary enterprises (line 07)
Net grant aid to students (line 08)
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Hospital services (line 09)
Independent operations (line 10)
Operation and maintenance of plant (line 11)
If your institution is a partial child or partial parent, then you must also report a Total amount for Total expenses (line 13).
Otherwise, this information is preloaded from Part B of this survey.
Upon saving the screen, the system will use the above values to calculate the amount of All other expenses (column 7)
within each functional category, and the amount of Other expenses (line 12) incurred by expense type. For your reference,
the PY Total Amount for each functional category is also displayed, along with the Prior year total expenses by expense
type.
Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 14). This value
is used in combination with the reported data to calculate the Total expenses per student FTE (line 15).
The system will perform the following edits on the data entered:
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For each functional category, the values reported for each expense type must be less than or equal to the Total
amount (column 1) reported for that category.
For each expense type and functional category, the value reported cannot be negative; with the following exception:
◦ The Operation and maintenance of plant expense type (column 4) in the Operation and maintenance of
plant category (line 11).
A Total Amount (column 1) must be entered for Instruction (line 01).
The Total amount (column 1) reported for Instruction (line 01) is expected to be greater than 0.
The Total Amount reported for Instruction (line 01) is expected to be within a 50% range of the corresponding PY
Total Amount (column 8).
The Total Amount reported for Research (line 02) is expected to be within a 50% range of the corresponding PY
Total Amount (column 8).
The Total Amount reported for Public service (line 03) is expected to be within a 50% range of the corresponding
PY Total Amount (column 8).
A Total Amount (column 1) must be entered for Academic support (line 04).
The Total Amount reported for Academic support (line 04) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
A Total Amount (column 1) must be entered for Student Services (line 05).
The Total Amount reported for Student Services (line 05) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
A Total Amount (column 1) must be entered for Institutional support (line 0 6 ).
The Total Amount reported for Institutional support (line 06) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount reported for Auxiliary enterprises (line 07) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount reported for Net grant aid to students (line 08) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount (column 1) calculated for Other expenses (line 12) is expected to be less than or equal to 75%
of the Total amount (column 1) reported for Total expenses (line 13).
If your institution is a partial child or partial parent, then the Total amount (column 1) reported for Total expenses
(line 13) must be greater than 0.
If your institution is a partial child or partial parent, and the Total amount of Prior year total expenses is greater
than 0, then the Total Amount (column 1) reported for Total expenses (line 13) may NOT be equal to that amount.
If your institution is a partial child or partial parent, then the Total amount (column 1) reported for Total expenses
(line 13) is expected to be within a 30% range of the corresponding Prior Year total expenses.
For each expense type, the value reported for Total expenses (line 13) is expected to be within a 50% range of the
corresponding Prior year total expenses.
The Salaries and wages (column 2) reported for Instruction (line 01) is expected to be greater than 0.
A Salaries and wages value (column 2) must be entered for the following expense types:
◦ Instruction (line 01)
◦ Academic support (line 04)
◦ Student services (line 05)
◦ Institutional support (line 06)
The Salaries and wages (column 2) reported for Total expenses (line 13) must be greater than 0.
If the value reported for the Operation and maintenance of plant expense type (column 4) in the Operation and
maintenance of plant category (line 11) is less than -1 million, then the amount reported for Instruction (line 01)
in column 4 must be within a range of -10% to -70% of the absolute value of that amount.
If a value greater than 0 is reported on any line for the Operation and maintenance of plant expense type (column
4), then the value reported for the Operation and maintenance of plant expense type (column 4) in the
Operation and maintenance of plant category (line 11) must be negative.
If the Total expenses (line 13) reported for Depreciation (column 5) is greater than 1 million, then the amount
allocated to Instruction (line 01) must be between 10% and 70% of the total amount.
If the Total expenses reported for Depreciation (column 5) is greater than 1 million, then the value calculated for
Other expenses (line 12) must be less than 50% of the total amount.
If the Total expenses (line 13) reported for Interest (column 6) is greater than 1 million, then the amount allocated
to Instruction (line 01) must be between 10% and 70% of the total amount.
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If the Total expenses reported for Interest (column 6) is greater than 1 million, then the value calculated for Other
expenses (line 12) must be less than 50% of the total amount.
If a value greater than 0 is preloaded for the 12-month Student FTE from E12 (line 14), then the value calculated
for Total expenses per student FTE (line 15) is expected to be between 2,500 and 200,000. If the value is greater
than 250,000, then a fatal error will occur.
The following edits will compare the data entered on this screen to other parts of the Finance component:
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If the value reported for Sales and services of auxiliary enterprises on the Operating Revenues screen in Part
B of this survey is equal to 0, then the Total amount (column 1) reported for Auxiliary enterprises (line 07) on this
screen is also expected to be equal to 0.
The Total Amount reported for Net grant aid to students (line 08) on this screen must be less than or equal to the
difference between Total scholarships and fellowships and the sum of Allowances (scholarships) applied to
tuition and fees and Allowances (scholarships) applied to auxiliary enterprise revenues reported in Part C of
this survey.
If the value reported for Sales and services of hospitals on the Operating Revenues screen in Part B of this
survey is equal to 0, then the Total amount (column 1) reported for Hospital services (line 09) on this screen is
also expected to be equal to 0.
If the value reported for Independent operations on the Operating Revenues screen in Part B of this survey is
equal to 0, then the Total amount (column 1) reported for Independent operations (line 10) on this screen is also
expected to be equal to 0.
If your institution is a partial child or partial parent, and a value greater than 0 is reported for Total expenses in
Part B, then the Total amount (column 1) reported for Total expenses (line 13) on this screen must be less than
that amount.
If your institution is a partial child or partial parent, and the Total amount (column 1) reported for Total expenses
(line 13) on this screen is greater than 10 million, then the value reported for Total revenues and investment
return in Part D of this survey is expected to be less than 150% of that amount.
If the Total for Plant, Property and Equipment calculated on the Statement of Net Assets, Page 2 screen in
Part A of this survey is greater than 10 million, then the value reported for the Operation and maintenance of
plant expense type (column 4) in the Operation and maintenance of plant category (line 11) on this screen must
be negative.
If the Total for Plant Property and Equipment reported in Part A of this survey is greater than 10 million, then
the Total expenses (line 13) reported for Depreciation (column 5) must be greater than 0.
If the Long term debt reported in Part A of this survey is greater than 1 million, then the Total expenses (line 13)
reported for Interest (column 6) must be greater than 0.
Applicable to 2-year institutions
For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,
Depreciation, and Interest), enter the amount of operating and non-operating expenses incurred in each of the following
functional categories:
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Instruction (line 01)
Research (line 02)
Public service (line 03)
Academic support (line 04)
Student services (line 05)
Institutional support (line 06)
Auxiliary enterprises (line 07)
Net grant aid to students (line 08)
Operation and maintenance of plant (line 11)
If your institution is a partial child or partial parent, then you must also report a Total amount for Total expenses (line 13).
Otherwise, this information is preloaded from Part B of this survey.
Upon saving the screen, the system will use the above values to calculate the amount of All other expenses (column 7)
within each functional category, and the amount of Other expenses (line 12) incurred by expense type. For your reference,
the PY Total Amount for each functional category is also displayed, along with the Prior year total expenses by expense
type.
Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 14). This value
is used in combination with the reported data to calculate the Total expenses and deductions per student FTE (line 15).
The system will perform the following edits on the data entered:
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For each functional category, the values reported for each expense type must be less than or equal to the Total
amount (column 1) reported for that category.
For each expense type and functional category, the value reported cannot be negative ; with the following exception:
◦ The Operation and maintenance of plant expense type (column 4) in the Operation and maintenance of
plant category (line 11).
A Total Amount (column 1) must be entered for Instruction (line 01).
The Total amount (column 1) reported for Instruction (line 01) is expected to be greater than 0.
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The Total Amount reported for Instruction (line 01) is expected to be within a 50% range of the corresponding PY
Total Amount (column 8).
The Total Amount reported for Research (line 02) is expected to be within a 50% range of the corresponding PY
Total Amount (column 8).
The Total Amount reported for Public service (line 03) is expected to be within a 50% range of the corresponding
PY Total Amount (column 8).
A Total Amount (column 1) must be entered for Academic support (line 04).
The Total Amount reported for Academic support (line 04) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
A Total Amount (column 1) must be entered for Student Services (line 05).
The Total Amount reported for Student Services (line 05) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
A Total Amount (column 1) must be entered for Institutional support (line 0 6 ).
The Total Amount reported for Institutional support (line 06) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount reported for Auxiliary enterprises (line 07) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount reported for Net grant aid to students (line 08) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount (column 1) calculated for Other expenses (line 12) is expected to be less than or equal to 75%
of the Total amount (column 1) reported for Total expenses (line 13).
If your institution is a partial child or partial parent, then the Total amount (column 1) reported for Total expenses
(line 13) must be greater than 0.
If your institution is a partial child or partial parent, and the Total amount of Prior year total expenses is greater
than 0, then the Total Amount (column 1) reported for Total expenses (line 13) may NOT be equal to that amount.
If your institution is a partial child or partial parent, then the Total amount (column 1) reported for Total expenses
(line 13) is expected to be within a 30% range of the corresponding Prior Year total expenses.
For each expense type, the value reported for Total expenses (line 13) is expected to be within a 50% range of the
corresponding Prior year total expenses.
The Salaries and wages (column 2) reported for Instruction (line 01) is expected to be greater than 0.
A Salaries and wages value (column 2) must be entered for the following expense types:
◦ Instruction (line 01)
◦ Academic support (line 04)
◦ Student services (line 05)
◦ Institutional support (line 06)
The Salaries and wages (column 2) reported for Total expenses (line 13) must be greater than 0.
If the value reported for the Operation and maintenance of plant expense type (column 4) in the Operation and
maintenance of plant category (line 11) is less than -1 million, then the amount reported for Instruction (line 01)
in column 4 must be within a range of -10% to -70% of the absolute value of that amount.
If a value greater than 0 is reported on any line for the Operation and maintenance of plant expense type (column
4), then the value reported for the Operation and maintenance of plant expense type (column 4) in the
Operation and maintenance of plant category (line 11) must be negative.
If the Total expenses (line 13) reported for Depreciation (column 5) is greater than 1 million, then the amount
allocated to Instruction (line 01) must be between 10% and 70% of the total amount.
If the Total expenses reported for Depreciation (column 5) is greater than 1 million, then the value calculated for
Other expenses (line 12) must be less than 50% of the total amount.
If the Total expenses (line 13) reported for Interest (column 6) is greater than 1 million, then the amount allocated
to Instruction (line 01) must be between 10% and 70% of the total amount.
If the Total expenses reported for Interest (column 6) is greater than 1 million, then the value calculated for Other
expenses (line 12) must be less than 50% of the total amount.
If a value greater than 0 is preloaded for the 12-month Student FTE from E12 (line 14), then the value calculated
for Total expenses per student FTE (line 15) is expected to be between 3,000 and 65,000. If the value is greater
than 80,000, then a fatal error will occur.
The following edits will compare the data entered on this screen to other parts of the Finance component:
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If the value reported for Sales and services of auxiliary enterprises on the Operating Revenues screen in Part
B of this survey is equal to 0, then the Total amount (column 1) reported for Auxiliary enterprises (line 07) on this
screen is also expected to be equal to 0.
The Total Amount reported for Net grant aid to students (line 08) on this screen must be less than or equal to the
difference between Total scholarships and fellowships and the sum of Allowances (scholarships) applied to
tuition and fees and Allowances (scholarships) applied to auxiliary enterprise revenues reported in Part C of
this survey.
If your institution is a partial child or partial parent, and a value greater than 0 is reported for Total expenses in
Part B, then the Total amount (column 1) reported for Total expenses (line 13) reported on this screen must be
less than that amount.
If your institution is a partial child or partial parent, and the Total amount (column 1) reported for Total expenses
(line 13) reported on this screen is greater than 10 million, then the value reported for Total revenues and
investment return in Part D of this survey is expected to be less than 150% of that amount.
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If the Total for Plant, Property and Equipment calculated on the Statement of Net Assets, Page 2 screen in
Part A of this survey is greater than 10 million, then the value reported for the Operation and maintenance of
plant expense type (column 4) in the Operation and maintenance of plant category (line 11) on this screen must
be negative.
If the Total for Plant Property and Equipment reported in Part A of this survey is greater than 10 million, then
the Total expenses (line 13) reported for Depreciation (column 5) must be greater than 0.
If the Long term debt reported in Part A of this survey is greater than 1 million, then the Total expenses (line 13)
reported for Interest (column 6) must be greater than 0.
Applicable to administrative offices that are not full parents
For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,
Depreciation, and Interest), enter the amount of operating and non-operating expenses incurred in each of the following
functional categories:
•
•
•
•
•
•
•
•
•
Instruction (line 01)
Research (line 02)
Public service (line 03)
Academic support (line 04)
Student services (line 05)
Institutional support (line 06)
Auxiliary enterprises (line 07)
Net grant aid to students (line 08)
Operation and maintenance of plant (line 11)
If your institution is a partial child or partial parent, then you must also report a Total amount for Total expenses (line 13).
Otherwise, this information is preloaded from Part B of this survey.
Upon saving the screen, the system will use the above values to calculate the amount of All other expenses (column 7)
within each functional category, and the amount of Other expenses (line 12) incurred by expense type. For your reference,
the PY Total Amount for each functional category is also displayed, along with the Prior year total expenses by expense
type.
The system will perform the following edits on the data entered:
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
For each functional category, the values reported for each expense type must be less than or equal to the Total
amount (column 1) reported for that category.
For each expense type and functional category, the value reported cannot be negative; with the following exception:
◦ The Operation and maintenance of plant expense type (column 4) in the Operation and maintenance of
plant category (line 11).
If the Total amount reported for Tuition and fees reported in Part B of this survey is equal to 0, then the values
reported for Instruction (line 01) on this screen are also expected to be equal to 0 for the following expense types:
◦ Total amount (column 1)
◦ Salaries and wages (column 2)
◦ Benefits (column 3)
◦ Operation and maintenance of plant (column 4)
◦ Depreciation (column 5)
◦ Interest (column 6)
The Total Amount reported for Instruction (line 01) is expected to be within a 50% range of the corresponding PY
Total Amount (column 8).
The Total Amount reported for Research (line 02) is expected to be within a 50% range of the corresponding PY
Total Amount (column 8).
The Total Amount reported for Public service (line 03) is expected to be within a 50% range of the corresponding
PY Total Amount (column 8).
A Total Amount (column 1) must be entered for Academic support (line 04).
The Total Amount reported for Academic support (line 04) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
A Total Amount (column 1) must be entered for Student Services (line 05).
The Total Amount reported for Student Services (line 05) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
A Total Amount (column 1) must be entered for Institutional support (line 06).
The Total Amount reported for Institutional support (line 06) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount reported for Auxiliary enterprises (line 07) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
If the value reported for Sales and services of auxiliary enterprises on the Operating Revenues screen in Part
B of this survey is equal to 0, then the Total amount (column 1) reported for Auxiliary enterprises (line 07) on this
screen is also expected to be equal to 0.
The Total Amount reported for Net grant aid to students (line 08) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount (column 1) calculated for Other expenses (line 12) is expected to be less than or equal to 75%
of the Total amount (column 1) reported for Total expenses (line 13).
•
•
•
•
•
•
•
•
If your institution is a partial child or partial parent, then the Total amount (column 1) reported for Total expenses
(line 1 3 ) must be greater than 0.
If your institution is a partial child or partial parent, and the Total amount of Prior year total expenses is greater
than 0, then the Total Amount (column 1) reported for Total expenses (line 13) may NOT be equal to that amount.
If your institution is a partial child or partial parent, then the Total amount (column 1) reported for Total expenses
(line 13) is expected to be within a 30% range of the corresponding Prior Year total expenses.
If your institution is a partial child or partial parent, and a value greater than 0 is reported for Total expenses in
Part B, then the Total amount (column 1) reported for Total expenses (line 13) on this screen must be less than
that amount.
For each expense type, the value reported for Total expenses (line 13) is expected to be within a 50% range of the
corresponding Prior year total expenses.
A Salaries and wages value (column 2) must be entered for the following expense types:
◦ Academic support (line 04)
◦ Student services (line 05)
◦ Institutional support (line 06)
The Salaries and wages (column 2) reported for Total expenses (line 13) must be greater than 0.
If a value greater than 0 is reported on any line for the Operation and maintenance of plant expense type (column
4), then the value reported for the Operation and maintenance of plant expense type (column 4) in the
Operation and maintenance of plant category (line 11) must be negative.
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Part H: Value of Endowment Assets
Applicable to institutions that answered 'Yes' to the Endowment Assets screening question
On this screen, you must report details about your institution’s endowment assets during the most recent 12-month fiscal
year. This not only includes those endowment assets held by the institution, but also any assets held by private foundations
affiliated with the institution.
Enter the Market Value for each of the following:
•
•
Endowment assets at the beginning of the fiscal year (line 01)
Endowment assets at the end of the fiscal year (line 02)
The system will perform the following edits on the data entered:
•
•
•
If the Prior year amount of Endowment assets at the end of the fiscal year (line 02) is greater than 0, then the
current year value of Endowment assets at the beginning of the fiscal year (line 01) is expected to be equal to
that amount.
The amount reported for Endowment assets at the end of the fiscal year (line 02) must be greater than 0.
If the Prior year amount of Endowment assets at the end of the fiscal year is greater than 0, then the current
year value may NOT be equal to that amount.
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NCES National Center for Education Statistics
2015-16 Survey Materials > Form
date: 8/4/2015
Finance for non-degree-granting private, for-profit institutions
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.
There are no new changes to the 2015-16 Finance data collection. However, a new FAQ clarifying how to report VA
education benefits has been added for all institutions. For GASB institutions, instructions for parts J,K,L have been
slightly modified for clarity and new FAQs have been added referencing implementation of GASB Statements 67 & 68
and parts J,K,L.
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.
Finance - Private for-profit institutions
FASB-Reporting Institutions
General Information - Fiscal Year and Audit
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 Calendar
This 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, 2015.)
Beginning: month/year (MMYYYY)
Month:
Year:
And ending: month/year (MMYYYY)
Month:
Year:
2. Audit Opinion
Did 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.)
Unqualified
Don't know (Explain in box
Qualified (Explain in box
below)
below)
3. Does your institution account for Pell grants as pass through transactions (a simple payment on the
student's account) or as federal grant revenues to the institution?
Federal grant revenue
Does not award Pell grants
Pass through
(agency)
4. What type of business structure is the institution for tax purposes?
Sole Proprietorship
Partnership (General, Limited, Limited Liability)
C Corporation
S Corporation
Limited Liability Company (LLC)
You may use the space below to provide context for the data you've reported above.
Part C - Scholarships and Fellowships
Most recent fiscal year ending before October 2015
DO NOT REPORT FEDERAL DIRECT STUDENT LOANS (FDSL) ANYWHERE IN THIS SECTION
Line No.
Scholarships and Fellowships
01
Pell grants (federal)
02
Other federal grants (Do NOT include FDSL amounts)
03a
State and local grants (government)
State grants
03b
Local grants (government)
04
Institutional grants
05
Total scholarships and fellowships
CV=[C01+...+C04]
06
Allowances (scholarships) applied to tuition and fees
07
Current year amount
Allowances (scholarships) applied to auxiliary enterprise
revenues
You may use the space below to provide context for the data you've reported above.
Prior year amount
Part D - Revenues and Investment Return
Most recent fiscal year ending before October 2015
Line No.
Source of Funds
01
Tuition and fees (net of amount reported in Part C, line 06)
02a
Government Appropriations, Grants and Contracts
Federal appropriations
02b
Federal grants and contracts (Do not include FDSL)
03a
State appropriations
03b
State grants and contracts
03c
Local government appropriations
03d
Local government grants and contracts
04
Private gifts grants and contracts
Private gifts grants and contracts
05
06
08
09
10
11
Current year amount Prior year amount
Other Revenue
Investment income and investment gains (losses) included in net
income
Sales and services of educational activities
Other revenue
CV=[D09-(D01+...+D06)]
Total revenues and investment return
12-month Student FTE from E12
Total revenues and investment return per student FTE
CV=[D09/D10]
You may use the space below to provide context for the data you've reported above.
Part E - Expenses by Function
Most recent fiscal year ending before October 2015
Report Total Operating AND Non-Operating Expenses in this section
Line Expenses by
No. Functional
Classification
(1)
Total
amount
(2)
(3)
Salaries
Benefits
and wages
(4)
(5)
(6)
Operation
Depreciation Interest
and
maintenance
of plant
(7)
(8)
All PY
other Total
Amount
01 Instruction
02a Research
02b Public service
03a Academic support
03b Student services
03c Institutional support
05 Net grant aid to students
(net of allowances for
tuition & fee and
auxiliary enterprises)
11 Operation and
maintenance of plant
(see instructions)
06 Other expenses
CV=[E07-(E01+...+E11)]
07 Total expenses
0
0
Prior year total
expenses
08 12-month Student FTE
from E12
09 Total expenses per
student FTE
CV=[E07/E08]
You may use the space below to provide context for the data you've reported above.
U.S. Department of Education
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NCES National Center for Education Statistics
2015-16 Survey Materials > Instructions
date: 8/4/2015
Finance for non-degree granting private, for-profit institutions
Purpose of Component
Changes in Reporting for 2015-16
General Instructions
Reporting Period Covered
Context Boxes
Coverage
What to Include
What Not to Include
Where to Get Help for Reporting
Where to Get Additional Help for Finance
Where the Reported Data Will Appear
Detailed Instructions
General Information
Part C: Scholarships and Fellowships
Part D: Revenues and Investment Return
Part E: Expenses by Functional and Natural Classification
Purpose of Component
The purpose of the IPEDS Finance component is to collect basic financial information from items associated with the
institution’s General Purpose Financial Statements (GPFS). Item areas include:
•
•
•
•
Income Tax Expenses (if applicable)
Scholarships and Fellowships
Revenues and Investment Return
Expenses by Functional and Natural Classification
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Changes in Reporting
There are no new changes to the 2015-16 Finance data collection from the 2014-15 collection. However, a new FAQ
clarifying how to report VA education benefits has been added for all institutions. Moreover, instructions to Part F: Tax
Expenses have been slightly modified to improve clarity.
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General Instructions
Reporting Period Covered
The starting point for reporting should be amounts reported in the GPFS for the most recent fiscal year ending
before October 1, 2015. For institutions with fiscal years ending on December 31, this would be the calendar year
2014.
About the Data
Data providers for this component should be familiar with college and university accounting policies and practices as
described by the National Association of College and University Business Officers (NACUBO). To provide additional
help, accounting terms are underlined and linked to definitions found in the online glossary.
Four different types of data appear in this component. There are data:
•
•
•
•
Institutions provide from their GPFS and/or underlying records.
That are prior year data, shown in red, which can be used as a comparison with the current year's data being
reported.
That are carried forward from one part of the component to another part to insure that the data are internally
consistent.
Calculated from the other data elements.
In the latter two cases, the data provider is requested to check that the carried forward data and the calculated data
are consistent with the data found in the institution's GPFS. If the data carried forward or calculated are not consistent
with the institution's GPFS, then an error in data entry may have occurred.
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Context Boxes
Context boxes are provided to allow institutions to provide more information regarding survey component items. Note
that some context boxes are posted on the College Navigator Website, which is the college search tool offered by
NCES. NCES will review entries in these context boxes for applicability and appropriateness before posting them on the
College Navigator Website; institutions should check grammar and spelling of their entries.
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Coverage
What to Include
The reporting entity's financial accounting policies and procedures should be the beginning basis for reporting to this
IPEDS survey component. However, deviations from the GPFS may be required to respond to this IPEDS survey
component. Some of these deviations include:
•
•
•
•
•
If financial categories in the institution’s GPFS are more aggregated than required for this IPEDS survey
component, then use underlying institutional records to determine the necessary amounts.
If financial categories in the institution’s GPFS are more detailed than required, then combine the GPFS
amounts and report only the combined number for this IPEDS survey component.
If amounts are reported in categories in the GPFS that differ from those required for the IPEDS survey, move
those amounts to the IPEDS-requested categories.
Report all financial amounts in WHOLE DOLLARS only, omitting cents.
For any item on the survey component where exact data do not exist in the GPFS, please give estimates.
What NOT to Include
Do not report any projected amounts for future years. Do not make adjustments for prior-year corrections unless they
are included as such corrections in the GPFS.
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Where to Get Help with Reporting
IPEDS Help Desk
Phone: 1-877-225-2568
Email: [email protected]
Web Tutorials
You can also consult the IPEDS website which contains several tutorials on IPEDS data collection, a self-paced
overview of IPEDS tools, and other valuable resources.
IPEDS Resource Page
The IPEDS Resource Page (located on the IPEDS homepage) contains frequently asked questions, a link to the IPEDS
Glossary, data tip sheets, an archive of survey instruments, information on the race/ethnicity categories, and other
valuable information.
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Where to Get Additional Help for Reporting Finance on this Component
There may be places on and off your campus to get assistance in reporting.
Assistance on campus
Although institutions may be organized in different ways and use different titles for offices, an office on your campus
that might help you to report data on this survey component might be called:
•
•
•
•
•
•
•
Office of the Chief Financial Officer
Office of Administration and Finance
Office of Finance
Office of Budget
Office of Financial Services
Office of the Comptroller (or Controller)
Office of Accounting
Assistance off campus
Additional references may be found in the National Association of College and University Business Officers’ (NACUBO)
Financial Accounting and Reporting Manual (FARM) which is available online. Additional information may be found at
the NACUBO website (www.nacubo.org). Someone at your institutions in one or more of the offices listed above may
already have access to the FARM.
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Where the Reported Data Will Appear
Data collected through IPEDS will be accessible at the institution- and aggregate-levels.
At the institution-level, data will appear in the:
•
•
•
•
College Navigator Website
IPEDS Data Center
IPEDS Data Feedback Reports
College Affordability and Transparency Center Website
At the aggregate-level, data will appear in:
•
•
•
IPEDS First Looks
IPEDS Table Library
IPEDS Data Feedback Reports
•
•
The Digest of Education Statistics
The Condition of Education
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Detailed Instructions
This section provides line-by-line instructions for each Part of the Finance Component.
In the instructions, numbers found in parentheses at the end of each line provide additional reference to paragraphs in
the National Association of College and Universities' Business Officers' (NACUBO) Financial Accounting and Reporting
Manual (FARM). There are also some references to the Statement of Financial Accounting Standards (SFAS).
General Information
Fiscal Year: Enter the beginning and ending dates of the period covered for the reported financial data. If the period
is not a full 12-month year, explain in the context box below why a 12-month period was not included.
Audit Opinion: Check the appropriate box to indicate if the GPFS received an unqualified opinion from your auditors.
A "qualified opinion" occurs when the auditor includes exceptions to the opinion that "The financial statements present
fairly, in all respects, the financial position as of (date) and the results of the operations for the year ended, in
conformity with accounting standards generally accepted in the United States." When no such exceptions are included,
the opinion is considered "unqualified." If “qualified” is checked, please note in the context box the nature of the
qualification. If the statements have not been audited, please check “Don’t know” and note in the context box that the
GPFS are unaudited.
Pell Grants: Indicate whether the institution accounts for Pell grants as pass-through payments or as federal revenue.
If the institution does not award Pell grants, select the applicable option.
Institutions that do receive Pell grants have the option to report Pell grants either as:
•
Federal revenue and allowance to tuition and fees and/or auxiliary enterprises (for room and board, books,
meals, etc.). If the Pell grant is counted as federal revenue, then there should be an offsetting
discount/allowance to tuition and fees revenue and/or auxiliary enterprise revenue so that the Pell grants are
not being double counted in the institution’s revenues. It is rare that private-for-profit institutions to treat Pell
grants this way. Do not choose this option unless you are absolutely certain it's correct.
•
As a pass-through transaction. A pass-through transaction is essentially a payment on the student’s account
where the institution is purely processing the Pell Grant and those monies are not counted by the institution
until they come in as a tuition payment from the student. This option is sometimes referred to as an agency
transaction. With this option Pell grants are not counted as federal revenues and are not considered to be a
discount/allowance to tuition and fees or auxiliary enterprises.
OR
Business Structure: Check the appropriate box to indicate the institution’s business structure for tax purposes. If
either a C Corporation or a Limited Liability Company (LLC) business structure is selected, the institution will be
required to report “Federal” and “State and Local” income tax expenditures in Part F.
Please note that regardless of how Pell grants are treated for revenues or expenses they should still be
reported in Part C: Scholarships and Fellowships under Pell grants.
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Part C: Scholarships and Fellowships
This part is intended to report details about scholarships and fellowships.
For each source on lines 01-04, enter the amount of resources received that are used for scholarships and fellowships.
Scholarships and fellowships include: grants-in-aid, trainee stipends, tuition and fee waivers, and prizes to students.
Scholarships and fellowships do not include amounts provided to students as payments for services including teaching
or research or as fringe benefits.
For lines 06 and 07, identify amounts that are reported in the GPFS as allowances only. “Allowance” means the
institution displays the financial aid amount as a deduction from tuition and fees or a deduction from auxiliary
enterprise revenues in its GPFS.
The allowance category is intended to be consistent with the definitions provided in the NACUBO Advisory Report on
Accounting and Reporting Scholarship Allowances to Tuition and Other Fee Revenues by Higher Education (AR 97-1,
January 17,1997), which is available at the NACUBO website (www.nacubo.org). AR 97-1 states:
“A scholarship allowance is the difference between the stated charge for goods and services provided by the institution
and the amount which is billed to students and/or third parties making payments on behalf of students. In considering
what is or is not revenue, the following rule applies amounts received to satisfy student tuition and fees will be
reported as revenues only once (e.g. student fees, gifts, investment income) and only amounts received from students
and third-party payers to satisfy tuition and fees will be recognized as tuition and fees revenue.
For more information on reporting discounts and allowances in scholarships and fellowships, access the (IPEDS Tip
Sheet).
Refer to these specific instructions for more information about reporting student grants.
01: Pell grants (federal) – Enter the amount awarded to the institution under the Pell Grant program.
02: Other federal grants – Enter the amount awarded to the institution under federal student aid programs other
than Pell, such as the Federal Supplemental Education Opportunity Grants (FSEOG), DHHS training grants (aid portion
only), and the federal portion of State Student Incentive Grants (SSIG). Do not include institutional matching portions
for any of these programs here; they should be reported as institutional grants. Do not include Federal Direct Student
Loans, Federal Work Study, or federal veteran education benefits.
03a: State grants – Enter the amount awarded to the institution under state student aid programs, including the
state portion of State Student Incentive Grants (SSIG).
03b: Local grants (government) – Enter the amount awarded to the institution under local government student aid
programs.
04: Institutional grants – Enter the amount awarded to students from institutional resources.
05: Total scholarship and fellowships – This calculated value is the sum of lines 01 through 04. Because this is a
calculated value data providers are advised to check this amount with the corresponding amount on their GPFS or
underlying records. If these amounts differ materially, the data provided is advised to check the other amounts
provided on this screen for data entry errors.
06: Allowances (scholarships) applied to tuition and fees – Enter the amount of allowances (scholarships)
applied to tuition and fees. The amount on this line, when added to the amount in Part D, line 01 equals gross tuition
and fees. (FARM para. 460)
07: Allowances (scholarships) applied to auxiliary enterprise revenues - Enter the amount of allowances
(scholarships) applied to auxiliary enterprise revenues (e.g., dormitory charges). The amount on this line, when added
to the amount in Part D, line 07 equals gross auxiliary enterprise revenue. (FARM para. 460)
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Part D – Revenues and Investment Return
PLEASE COMPLETE PART C BEFORE PROVIDING DATA FOR PART D.
This part is intended to report revenues by source.
The revenues and investment return reported in this part should agree with the revenues reported in the
institution’s GPFS.
All revenue source categories are intended to be consistent with the definitions provided for private institutions
according to the NACUBO Financial Accounting and Reporting Manual (FARM).
Exclude from revenues (and expenses) internal changes and credits. Internal changes and credits include charges
between parent and subsidiary only if the two are consolidated in the amounts reported in the IPEDS survey.
Refer to these specific instructions for more information about reporting revenues and investment return.
01: Tuition and fees (net of amount reported in Part C, line 06) – Enter the amount of tuition and educational
fees net of any allowances applied in the GPFS. Include in this amount all fees for continuing education programs,
conferences, and seminars.
Government Appropriations, Grants and Contracts
02a: Federal appropriations – Enter all amounts received from the federal government through a direct
appropriation of Congress, except grants and contracts, which should be reported on line 02b. An example of a federal
appropriation is a federal land-grant appropriation. (FARM para. 463) Do not include Pell Grants on this line. Do
not include any ARRA revenues on this line (see line 08 in this part).
02b: Federal grants and contracts – Enter all revenues from federal agencies that are for specific undertakings
such as research projects, training projects, and similar activities, including contributions from federal agencies. If
federal Pell and similar student aid grants are treated as agency transactions in your GPFS, they are excluded from
this amount. If federal Pell and similar student aid grants are treated in your GPFS as student aid expenses or as
allowances when awarded. Include the grant revenue on this line and in Part E. (FARM para. 464) Do not include any
ARRA revenues on this line (see line 08 in this part).
03a: State appropriations – Enter all amounts received from a state government through a direct appropriation of
its legislative body, except state grants and contracts, which should be reported in line 03b. An example of a state
appropriation that should be entered in line 03a is an annual state appropriation for operating expenses of the
institution. (FARM para. 463) Do not include any ARRA revenues on this line (see line 08 in this part).
03b: State grants and contracts – Enter all revenues from state government agencies that are for specific
undertakings such as research projects, training projects, and similar activities, including contributions from state
agencies. If state grants for student aid are treated as agency transactions in your GPFS, they are excluded from this
amount. If state grants for student aid are treated in your GPFS as student expenses or as allowances when awarded,
include the grant revenue on this line and in Part E. (FARM para. 464) Do not include any ARRA revenues on this line
(see line 08 in this part).
03c: Local government appropriations – Enter all amounts received from a local government (i.e., city and/or
county) through a direct appropriation of its legislative body, except for local grants and contracts, which should be
reported on line 03d. An example of a local appropriation that should be entered on line 03c is an annual appropriation
for operating expenses of the institution. (FARM para. 463)
03d: Local grants and contracts – Enter all revenues from local government agencies that are for specific
undertakings such as research projects, training projects, and similar activities, including contributions from local
agencies. If local grants for student aid are treated as agency transactions in your GPFS, they are excluded from this
amount. If local grants for student aid are treated in your GPFS as student aid expenses or as allowances when
awarded, include the grant revenue on this line and in Part E. (FARM para. 464)
Private Gifts, Grants, and Contracts
04: Private gifts grants and contracts – Enter revenues from private (non-governmental) entities including
revenue from research or training projects and similar activities.
Other Revenue
05: Investment income and investment gains (losses) included in net income – Enter all investment income
including: dividends; interest; rents and royalties; gains and losses (realized and unrealized) from holding investments
that are included in net income in accordance with the SFAS No. 115; student loan interest; and amounts distributed
from irrevocable trusts held by others (collectively referred to as “investment income”).
Part D, line 05 should include all investment income and net investment gains (losses) included in net income in your
institution’s GPFS. Net investment gains (losses) included in other comprehensive income should be reported in Part B,
line 03.
06: Sales and services of educational activities – Enter all revenues derived from the sales of goods or services
that are incidental to the conduct of instruction, research or public service, and revenues of activities that exist to
provide instructional and laboratory experience for students and that incidentally create goods and services that may
be sold. Examples include film rentals, scientific and literary publications, testing services, university presses, dairies,
and patient care clinics that are not part of a hospital.
08: Other revenue - This calculated value is generated using this formula:
D08 = D09 – (D01 + … + D07)
The amount above should be equal to corresponding amounts found in your GPFS. Excluded from this amount are
gains or other unusual or nonrecurring items that are required to be included in Part B, such as gains on the sale of
plant assets and extraordinary gains. If this generated amount is negative, this is an indication that amounts entered
on this screen are not consistent with your audited GPFS or underlying records.
09: Total revenues and investment return - This amount is carried forward from Part B, line 01. Please check to
make sure that the amount carried forward is the same as the amount found in your GPFS.
10: 12-month Student FTE from E12 – This number for full-time equivalent (FTE) student enrollment is carried
over from the 12-month enrollment survey.
11: Total revenues and investment return per Student FTE – This amount is generated by dividing line 09 by line
10. This calculated value is used by the system to compare the data reported by the institution to the data of
institutions that are in the same sector (e.g., public/private, 4-year/2-year) to see if the calculated value is an
extreme value that is too high or low. While it is not anticipated that your institution would have the same overall
revenues, this comparison may be useful for ensuring that all appropriate revenues have been included in the finance
survey component, or excluded when appropriate.
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Part E – Expenses by Functional and Natural Classification
Part E is intended to report expenses by function. All expenses recognized in the GPFS should be reported using the
expense functions provided on lines 01–12. With the exception of the operation and maintenance of plant (line 11),
these functional categories are consistent with Chapter 5 (Accounting for Private Colleges and Universities) of the
NACUBO FARM. (FARM para 504)
Institutions that do not have access to FARM can refer to Appendix B of the NACUBO Advisory Report 2010-1, Public
Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest Expenses to
Functional Expense Categories for more detailed information on the expense categories. Although this document was
written for public institutions, the expenditure definitions are applicable to private institutions also. The advisory is
available online here.
The total for expenses on line 13 should agree with the total expenses reported in your GPFS including
interest expense and any other non-operating expense.
Do not include losses or other unusual or nonrecurring items in Part E. (Special items including gains and losses should
be reported in Part B.) Operation and maintenance of plant expenses are no longer reported as a separate expense
category. Instead these expenses are to be distributed, or allocated, among the other functional expense categories.
Expenses by Natural Classification
Column 1, Total amount - Enter the total expense for each applicable functional category listed on lines 01–06, 10,
and 11. No amount may be entered on line 11 for total operations and maintenance of plant expenses. This line is
provided to assist in the allocation of operation and maintenance of plant expenses. Total expenses, line 13, should
agree with the total expenses reported in your GPFS.
Column 2, Salaries and wages – This column describes the natural classification of salary and wage expenses
incurred in each functional category. For this classification, enter the amount of salary and wage expenses for the
function identified in lines 01-11 and 13.
Column 3, Benefits - Enter in this column the amount of benefits expenses incurred in each functional category
identified on lines 01-11 and 13.
Column 4, Operation and maintenance of plant - This column, in conjunction with Line 11, is used to show the
distribution of operation and maintenance of plant expenses to the various functions. Enter in this column the allocated
amount of operation and maintenance of plant expenses to each function listed on lines 01-10. The total operation and
maintenance of plant expenses should be entered as a negative amount on line 11 of this column, so that the net total
of the column as well as the net total of line 11 is zero. (FARM para. 704.14)
Column 5, Depreciation - Enter in this column the amount of depreciation allocated to each functional category
identified on lines 01-11 and 13. (FARM para. 704.15)
Column 6, Interest - Enter in this column the amount of interest incurred on debt allocated to each function
identified on lines 01-11 and 13. (FARM para. 704.16)
Column 7, All other - This column will be calculated by the survey program as the difference between the total
amount entered in column 1 and the sum of columns 2 through 6. Please check the calculated amount for accuracy to
determine that no keying errors have occurred.
Refer to these specific instructions for more information about reporting expenses.
Expenses by Functional Classification
01 – Instruction – Enter the instruction expenses of the colleges, schools, departments, and other instructional
divisions of the institution and expenses for departmental research and public service that are not separately
budgeted. The instruction category includes general academic instruction, occupational and vocational instruction,
special session instruction, community education, preparatory and adult basic education, and remedial and tutorial
instruction conducted by the teaching faculty for the institution’s students. Include expenses for both credit and noncredit activities. Exclude expenses for academic administration if the primary function is administration (e.g., academic
deans). Such expenses should be entered on line 04. (FARM para. 703.4)
02a – Research – Enter the expenses for activities specifically organized to produce research outcomes and either
commissioned by an agency external to the institution or separately budgeted by an organizational unit within the
institution. The category includes institutes and research centers, and individual and project research. Do not report
nonresearch sponsored programs (e.g., training programs) on this line. Training programs generally are reported on
line 01 (Instruction). (FARM para. 703.5)
02b – Public service – Enter the expenses specifically for public service and for activities established primarily to
provide noninstructional services beneficial to groups external to the institution. Examples are seminars and projects
provided to the particular sectors of the community. Include expenses for community services, cooperative extension
services, and public broadcasting services. (FARM para. 703.6)
03a – Academic support – Enter the expenses for support services that are an integral part of the institution’s
primary mission of instruction, research, or public service and that are not charged directly to these primary programs.
Include expenses for libraries, museums, galleries, audio/visual services, academic development, academic computing
support, course and curriculum development, and academic administration. Include expenses for medical, veterinary
and dental clinics if their primary purpose is to support the institutional program, that is, they are not part of a
hospital. (FARM para. 703.7)
03b – Student services – Enter the expenses for admissions, registrar activities and activities whose primary
purpose is to contribute to students emotional and physical well-being and to their intellectual, cultural and social
development outside the context of the formal instructional program. Examples are career guidance, counseling,
financial aid administration, student records, athletics, and student health services, except when operated as a selfsupporting auxiliary enterprise. (FARM para. 703.8)
03c – Institutional support – Enter the expenses for the day-to-day operational support of the institution. Include
expenses for general administrative services, executive direction and planning, legal and fiscal operations,
administrative computing support, and public relations/development. (FARM para. 703.9)
05 – Net grant aid to students (net of tuition and fee allowances) - Enter on this line ONLY scholarships and
fellowships recognized as expenses in your GPFS. Do not include Federal Work Study expenses on this line. Work
study expenses should be reported within the function where the student worked. Whereas in the past, most student
awards were recorded as expenses under this classification, most student awards are now reported as either
scholarship allowances or agency transactions. Student awards, made from contributed funds or grant funds, that are
under the control of the institution (the institution decides who gets the award) result in allowances that reduce tuition
or auxiliary enterprise revenue. Student awards, made from grant funds, that are made to students identified by the
grantor are considered agency transactions and do not result in either revenues or expenses. Scholarships and
fellowships in the form of allowances applied to tuition and fees should be reported in Part C, line 06, and not included
in Part E, line 05. Scholarships and fellowships in the form of allowances applied to auxiliary services should be
reported in Part C, line 7, and not included in Part E, line 05. (FARM para. 703.10)
According to NACUBO Advisory Report 97-1 (January 17, 1997), scholarships and fellowships are "expenses to the
extent that the organization incurs incremental expense in providing goods and services." Thus payments made by the
institution to students or third parties in support of the total cost of education are expenses if those payments are
made for goods and services NOT provided by the institution. Examples include payments for services to third parties
(including students) for off-campus housing or for the cost of board not provided by institutional contract meal plans.
11 – Operation and maintenance of plant - This line, in conjunction with Column 4, is used to show the
distribution of operation and maintenance of plant expenses to the various functions. Enter all expenses for operations
established to provide service and maintenance related to campus grounds and facilities used for educational and
general purposes. Specific expenses include utilities, fire protection, property insurance, and similar items. Also
included are information technology expenses related to operation and maintenance of plant activities if the institution
separately budgets and expenses information technology resources (otherwise these expenses are included in
institutional support). FASB institutions do not report this function on their GPFS; instead these expenses are charged
to or allocated to other functions. In the column for operation and maintenance of plant (column 4), enter (as a
negative amount) on this line the total amount of operation and maintenance of plant expenses allocated to the other
functions. (FARM para. 703.14)
06 - Other expenses – This calculated value is generated using this formula:
E06 = E07 – (E01 + … + E11)
Because this is a generated number, data providers are advised to compare this amount with a corresponding amount
in the institution's GPFS. If these amounts differ materially, the data provider is advised to check the other amounts
provided on this screen for data entry errors.
07 – Total expenses – The amount in column 1 is carried forward from Part B, line 02. This should be the same as
the amount for total expenses found in your GPFS. Enter in columns 2, 3, 5, and 6 the total amount of each natural
expense incurred by the institution. These amounts will be used to compute the amounts in line 06, as well as line 07,
column 7.
08 – 12-month Student FTE from E12 - This number for full-time equivalent (FTE) student enrollment is carried
over from the 12-month enrollment survey.
09 – Total expenses per Student FTE - This amount is generated by dividing line 07 by line 08. This calculated
value is used by the system to compare the data reported by the institution to the data of institutions that are in the
same sector (e.g., public/private, 4-year/2-year) to see if the calculated value is an extreme value that is too high or
low. While it is not anticipated that your institution would have the same overall expenses, this comparison may be
useful for ensuring that all appropriate expenses have been included in the finance survey component, or excluded
when appropriate.
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Glossary
Term
Definition
Academic support
A functional expense category that includes expenses of activities and services that support the institution's primary
missions of instruction, research, and public service. It includes the retention, preservation, and display of
educational materials (for example, libraries, museums, and galleries); organized activities that provide support
services to the academic functions of the institution (such as a demonstration school associated with a college of
education or veterinary and dental clinics if their primary purpose is to support the instructional program); media
such as audiovisual services; academic administration (including academic deans but not department chairpersons);
and formally organized and separately budgeted academic personnel development and course and curriculum
development expenses. Also included are information technology expenses related to academic support activities; if
an institution does not separately budget and expense information technology resources, the costs associated with
the three primary programs will be applied to this function and the remainder to institutional support. Institutions
include actual or allocated costs for operation and maintenance of plant, interest, and depreciation.
Allowances
That part of a scholarship or fellowship that is used to pay institutional charges such as tuition and fees or room and
board charges.
Audit opinion
An audit, performed by external (or outside) auditors, that usually consists of a one-page "opinion" letter on the
general-purpose financial statements. The "opinion" paragraph of the letter usually states that "In our opinion, the
financial statements present fairly, in all material respects, the financial position as of (date) and the results of
operations for the year then ended, in conformity with accounting standards generally accepted in the United States."
If the auditor cannot state completely the substance of the previous "opinion" sentence, then the auditor will add a
phrase such as "...except for..." and state the basis for the exception. When the auditor includes exceptions to the
opinion, the opinion is considered to be a "qualified opinion;" when no such exceptions are included, the opinion is
considered to be an "unqualified opinion."
Auxiliary enterprises
revenues
Revenues generated by or collected from the auxiliary enterprise operations of the institution that exist to furnish a
service to students, faculty, or staff, and that charge a fee that is directly related to, although not necessarily equal
to, the cost of the service. Auxiliary enterprises are managed as essentially self-supporting activities. Examples are
residence halls, food services, student health services, intercollegiate athletics, college unions, college stores, and
movie theaters.
Depreciation
The allocation or distribution of the cost of capital assets, less any salvage value, to expenses over the estimated
useful life of the asset in a systematic and rational manner. Depreciation for the year is the amount of the allocation
or distribution for the year involved.
Discounts and allowances
That part of a scholarship or fellowship that is used to pay institutional charges such as tuition and fees or room and
board charges.
Federal grants
Transfers of money or property from the Federal government to the education institution without a requirement to
receive anything in return. These grants may take the form of grants to the institutions to undertake research or they
may be in the form of student financial aid. (Used for reporting on the Finance component)
Federal Work Study (FWS)
A part-time work program awarding on- or off-campus jobs to students who demonstrate financial need. FWS
positions are primarily funded by the government, but are also partially funded by the institution. FWS is awarded to
eligible students by the college as part of the student's financial aid package. The maximum FWS award is based on
the student's financial need, the number of hours the student is able to work, and the amount of FWS funding
available at the institution. This is a type of Title IV Aid, but is not considered grant aid to students.
Fringe benefits
Cash contributions in the form of supplementary or deferred compensation other than salary. Excludes the
employee's contribution. Employee fringe benefits include retirement plans, social security taxes, medical/dental
plans, guaranteed disability income protection plans, tuition plans, housing plans, unemployment compensation
plans, group life insurance plans, worker's compensation plans, and other benefits in-kind with cash options.
Government appropriations
(revenues)
Revenues received by an institution through acts of a legislative body, except grants and contracts. These funds are
for meeting current operating expenses and not for specific projects or programs. The most common example is a
state's general appropriation. Appropriations primarily to fund capital assets are classified as capital appropriations.
Grants and contracts
(revenues)
Revenues from governmental agencies and nongovernmental parties that are for specific research projects, other
types of programs , or for general institutional operations (if not government appropriations). Examples are research
projects, training programs, student financial assistance, and similar activities for which amounts are received or
expenses are reimbursable under the terms of a grant or contract, including amounts to cover both direct and
indirect expenses. Includes Pell Grants and reimbursement for costs of administering federal financial aid programs.
Grants and contracts should be classified to identify the governmental level - federal, state, or local - funding the
grant or contract to the institution; grants and contracts from other sources are classified as nongovernmental grants
and contracts. GASB institutions are required to classify in financial reports such grants and contracts as either
operating or nonoperating.
Institutional grants
Scholarships and fellowships granted and funded by the institution and/or individual departments within the
institution, (i.e., instruction, research, public service) that may contribute indirectly to the enhancement of these
programs . Includes scholarships targeted to certain individuals (e.g., based on state of residence, major field of
study, athletic team participation) for which the institution designates the recipient.
Institutional support
A functional expense category that includes expenses for the day-to-day operational support of the institution.
Includes expenses for general administrative services, central executive-level activities concerned with management
and long range planning, legal and fiscal operations, space management, employee personnel and records, logistical
services such as purchasing and printing, and public relations and development. Also includes information technology
expenses related to institutional support activities. If an institution does not separately budget and expense
information technology resources, the IT costs associated with student services and operation and maintenance of
plant will also be applied to this function.
Instruction
A functional expense category that includes expenses of the colleges, schools, departments, and other instructional
divisions of the institution and expenses for departmental research and public service that are not separately
budgeted. Includes general academic instruction, occupational and vocational instruction, community education,
preparatory and adult basic education, and regular, special, and extension sessions. Also includes expenses for both
credit and non-credit activities. Excludes expenses for academic administration where the primary function is
administration (e.g., academic deans). Information technology expenses related to instructional activities if the
institution separately budgets and expenses information technology resources are included (otherwise these
expenses are included in academic support). Institutions include actual or allocated costs for operation and
maintenance of plant, interest, and depreciation.
Integrated Postsecondary
Education Data System
(IPEDS)
The Integrated Postsecondary Education Data System (IPEDS), conducted by the NCES, began in 1986 and involves
annual institution-level data collections. All postsecondary institutions that have a Program Participation Agreement
with the Office of Postsecondary Education (OPE), U.S. Department of Education (throughout IPEDS referred to as
"Title IV") are required to report data using a web-based data collection system. IPEDS currently consists of the
following components: Institutional Characteristics (IC); 12-month Enrollment (E12);Completions (C); Admissions
(ADM); Student Financial Aid (SFA); Human Resources (HR) composed of Employees by Assigned Position, Fall Staff,
and Salaries; Fall Enrollment (EF); Graduation Rates (GR); Outcome Measures (OM); Finance (F); and Academic
Libraries (AL).
Interest
The price paid (or received) for the use of money over a period of time. Interest income is one component of
investment income. Interest paid by the institution is interest expense.
Investment gains
The gain derived from the investment of capital. Such gains may take the form of a market appreciation of the value
of the investment. The gain may be realized if the asset or capital is sold or unrealized if the asset or capital is not
sold.
Investment income
Revenues derived from the institution's investments, including investments of endowment funds. Such income may
take the form of interest income, dividend income, rental income or royalty income and includes both realized and
unrealized gains and losses.
Loans to students
Any monies that must be repaid to the lending institution for which the student is the designated borrower. Includes
all Title IV subsidized and unsubsidized loans and all institutionally- and privately-sponsored loans. Does not include
PLUS and other loans made directly to parents.
Local government grants and
contracts (revenues)
Revenues from local government agencies that are for training programs and similar activities for which amounts are
received or expenditures are reimbursable under the terms of a local government grant or contract. These
amounts can be treated as an allowance, an agency transaction, or as a student aid
expense in the institution's General Purpose Financial Statements (GPFS) and are
reported differently depending on their treatment. Generally, however, private
institutions report these grants as allowances when applied to the student's account and
as local grant revenues when received.
Net Assets
The excess of assets over liabilities or the residual interest in the institution's assets remaining after liabilities are
deducted. The change in net assets results from revenues, gains, expenses, and losses. FASB institutions classify net
assets into three categories: permanently restricted, temporarily restricted, and unrestricted. This term is similar to
the "Net position" term used by GASB instiutions.
Net grant aid to students
(expenses)
The portion of scholarships and fellowships granted by an institution that exceeds the amount applied to institutional
charges such as tuition and fees or room and board. The amount reported as expense excludes allowances.
Net income
The final figure in the income statement when revenues exceed expenses.
Operation and maintenance
of plant
A functional expense category that includes expenses for operations established to provide service and maintenance
related to campus grounds and facilities used for educational and general purposes. Specific expenses include
utilities, fire protection, property insurance, and similar items. This function does include amounts charged to
auxiliary enterprises, hospitals, and independent operations. Also includes information technology expenses related
to operation and maintenance of plant activities if the institution separately budgets and expenses information
technology resources (otherwise these expenses are included in institutional support). Institutions may, as an option,
distribute depreciation expense to this function.
Other federal grants
Federal monies awarded to the institution under federal government student aid programs, such as the Federal
Supplemental Educational Opportunity Grants (FSEOG), DHHS training grants (aid portion only), the Leveraging
Education Assistance Partnership (LEAP) program, and other federal student aid programs. Pell grants are not
included in this classification. Note: if the federal government selects the student recipients and simply transmits the
funds to the institution for disbursement to the student, the amounts are not considered as revenues and
subsequently there are no discounts and allowances or scholarships and fellowships expenses. If the funds are made
available to the institution for selection of student recipients, then the amounts received are considered as
nonoperating revenues and subsequently as discounts and allowances or scholarships and fellowships expenses.
Out-of-state student
A student who is not a legal resident of the state in which he/she attends school.
Pell Grant program
(Higher Education Act of 1965, Title IV, Part A, Subpart I, as amended.) Provides grant assistance to eligible
undergraduate postsecondary students with demonstrated financial need to help meet education expenses.
Private gifts, grants and
contracts (revenues)
Revenues from private donors for which no legal consideration is involved and from private contracts for specific
goods and services provided to the funder as stipulation for receipt of the funds. Includes only those gifts, grants,
and contracts that are directly related to instruction, research, public service, or other institutional purposes. Includes
monies received as a result of gifts, grants, or contracts from a foreign government. Also includes the estimated
dollar amount of contributed services.
Private grants and contracts
(Revenues)
Revenues from private (non-governmental) entities that are for specific research projects, other types of programs,
or for general institutional operations (if not government appropriations). Examples are research projects, training
programs, and similar activities for which amounts are received or expenses are reimbursable under the terms of a
grant or contract, including amounts to cover both direct and indirect expenses.
Public service
A functional expense category that includes expenses for activities established primarily to provide noninstructional
services beneficial to individuals and groups external to the institution. Examples are conferences, institutes, general
advisory service, reference bureaus, and similar services provided to particular sectors of the community. This
function includes expenses for community services, cooperative extension services, and public broadcasting services.
Also includes information technology expenses related to the public service activities if the institution separately
budgets and expenses information technology resources (otherwise these expenses are included in academic
support). Institutions include actual or allocated costs for operation and maintenance of plant, interest, and
depreciation.
Research
A functional expense category that includes expenses for activities specifically organized to produce research
outcomes and commissioned by an agency either external to the institution or separately budgeted by an
organizational unit within the institution. The category includes institutes and research centers, and individual and
project research. This function does not include nonresearch sponsored programs (e.g., training programs). Also
included are information technology expenses related to research activities if the institution separately budgets and
expenses information technology resources (otherwise these expenses are included in academic support.) Institutions
include actual or allocated costs for operation and maintenance of plant, interest, and depreciation.
Salaries and wages
Amounts paid as compensation for services to all employees - faculty, staff, part-time, full-time, regular employees,
and student employees. This includes regular or periodic payment to a person for the regular or periodic performance
of work or a service and payment to a person for more sporadic performance of work or a service (overtime, extra
compensation, summer compensation, bonuses, sick or annual leave, etc.).
Sales and services of
educational activities
(revenues)
Revenues from the sales of goods or services that are incidental to the conduct of instruction, research or public
service. Examples include film rentals, sales of scientific and literary publications, testing services, university presses,
dairy products, machine shop products, data processing services, cosmetology services, and sales of handcrafts
prepared in classes.
Scholarships
Grants-in-aid, trainee stipends, tuition and required fee waivers, prizes or other monetary awards given to
undergraduate students.
Scholarships and fellowships
Outright grants-in-aid, trainee stipends, tuition and fee waivers, and prizes awarded to students by the institution,
including Pell grants. Awards to undergraduate students are most commonly referred to as "scholarships" and those
to graduate students as "fellowships." These awards do not require the performance of services while a student (such
as teaching) or subsequently as a result of the scholarship or fellowship. The term does not include loans to students
(subject to repayment), College Work-Study Program (CWS), or awards granted to a parent of a student because of
the parent's faculty or staff status. Also not included are awards to students where the selection of the student
recipient is not made by the institution.
State and local government
grants
State and local monies awarded to the institution under state and local student aid programs, including the state
portion of State Student Incentives Grants (SSIG). (Used for reporting Student Financial Aid data)
State grants (revenues)
A sum of money or property bestowed on a postsecondary institution by a state government.
Student services
A functional expense category that includes expenses for admissions, registrar activities, and activities whose
primary purpose is to contribute to students emotional and physical well-being and to their intellectual, cultural, and
social development outside the context of the formal instructional program. Examples include student activities,
cultural events, student newspapers, intramural athletics, student organizations, supplemental instruction outside the
normal administration, and student records. Intercollegiate athletics and student health services may also be
included except when operated as self-supporting auxiliary enterprises. Also may include information technology
expenses related to student service activities if the institution separately budgets and expenses information
technology resources(otherwise these expenses are included in institutional support.) Institutions include actual or
allocated costs for operation and maintenance of plant, interest, and depreciation.
Title IV institution
An institution that has a written agreement with the Secretary of Education that allows the institution to participate in
any of the Title IV federal student financial assistance programs (other than the State Student Incentive Grant
(SSIG) and the National Early Intervention Scholarship and Partnership (NEISP) programs).
Tuition and fees (published
charges)
The amount of tuition and required fees covering a full academic year most frequently charged to students. These
values represent what a typical student would be charged and may not be the same for all students at an institution.
If tuition is charged on a per-credit-hour basis, the average full-time credit hour load for an entire academic year is
used to estimate average tuition. Required fees include all fixed sum charges that are required of such a large
proportion of all students that the student who does not pay the charges is an exception.
U.S. Department of Education
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NCES National Center for Education Statistics
2015-16 Survey Materials > FAQ
date: 8/4/2015
Finance
Click one of the following questions to view the answer.
General
1) Who is required to complete this survey?
2) Where do I get the data to fill out this survey?
3) My institution does not award degrees. Do we still need to complete the Finance component?
4) What period should the finance survey cover?
5) We haven’t been audited yet and won’t have an audited financial statement until May. Do I still have to fill this out?
6) What is combined ("parent/child") reporting and how does it work?
7) When does a system office need to report data?
8) Can a system office report combined data?
9) How do I know what reporting standards are used to prepare the financial statements?
10) The fiscal year for my institution changed. How do I report for the finance survey?
11) What is the difference between “business-type” activities and “governmental” activities?
12) My institution is part of a system and the system was audited as a unit, so we don’t have an opinion just on this school.
How do I answer the question about the audit opinion?
13) How are revenues per student FTE and expenses per student FTE calculated, and why were they added to the screens?
Public Institutions Using GASB Standards
1) Can public institutions report using FASB?
2) What happens if I respond incorrectly to the reporting standards screening question?
3) I see the term CV on several lines of the finance survey. What is this referring to?
4) Where did component units go?
5) How do I report deferred outflows and deferred inflows in Part A: Statement of Financial Position?
6) We do not capitalize our library. Do I report it on Part A page 2?
7) If my institution is a GASB-reporter, where should my institution report the gain or loss on the sale of a plant asset?
8) What are discounts and allowances (Part E)? (We don’t discount our tuition.)
9) What are operating versus nonoperating revenues?
10) We reported federal appropriations in operating revenues rather than non-operating revenues in our financial statements.
How should I report them on IPEDS?
11) My institution received funds from the American Recovery and Reinvestment Act (ARRA). Where should they be reported?
12) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
13) What are some examples of independent operations?
14) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
15) How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M), and interest
expenses to the other functional expense categories in Part C?
16) Why does operation and maintenance of plant appear as both a row and column in Part C (expenses and other
deductions)?
17) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An
expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
18) What are the impacts of GASB Statement 68 on IPEDS finance reporting? Are all institutions affected?
19) Parts JKL: Why can't institutions report negative numbers in the census data sections?
20) Part J: Where should ARRA grants be counted?
21) Part J: Should endowment funds held by component units be reported here?
Private Not-for-Profit and Public Institutions Using FASB
1) I see the term CV on several lines of the finance survey. What is this referring to?
2) What value do I use to report plant, property, and equipment on the second page of Part A?
3) What are allowances in Part C (Scholarships and Fellowships)?
4) What is the difference between funded and unfunded institutional grants as reported on the Scholarships and Fellowships
part of the survey?
5) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
6) My institution is primarily a hospital with a small instruction program. How should I report the hospital part of my
institution?
7) What are some examples of independent operations?
8) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
9) How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M), and interest
expenses to the other functional expense categories in Part C?
10) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?
11)
My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An
expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
Private for-profit institutions
1) I see the term CV on several lines of the finance survey. What is this referring to?
2) What income tax expenses should my institution report if I belong to both a multi-institution/multi-campus organization and
an IPEDS parent/child relationship?
3) What value do I use to report plant, property, and equipment on the second page of Part A?
4) What are allowances in Part C (Scholarship and Fellowships)?
5) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
6) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
7) The financial records of my institution do not break down expenses the way they are listed on Part E. How do I report
expenses for my institution?
8) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?
9) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An
expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
Answers:
General
1)
Who is required to complete this survey?
All Title IV postsecondary institutions are required to respond to the Finance survey. Institutions that have a Program
Participation Agreement (PPA) with the Department of Education are required to respond. HOWEVER, if your institution is a
branch campus of another institution and you SHARE a PPA, then you may make arrangements with the Help Desk to submit
one finance survey that covers all of your campuses. Because data provided for institutions are most useful if reported
individually, campuses are encouraged to report separately if possible, but reporting together is allowed if the campuses share a
PPA.
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2)
Where do I get the data to fill out this survey?
Each institution should have annual financial statements that are audited by an outside auditor. These financial statements are
referred to as general purpose financial statements (GPFS). The finance survey is designed to follow the format of the financial
statements suggested by the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board
(GASB). Some of the data necessary to complete the IPEDS Finance Survey may require institutions to adjust the amounts
reported in their GPFS; typically these adjustments pull in information included in the notes to the financial statements.
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3)
My institution does not award degrees. Do we still need to complete the Finance component?
Yes. However, the finance survey forms for non degree-granting institutions requires less information to be provided than for
degree-granting institutions.
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4)
What period should the finance survey cover?
The finance survey data should come from the last fiscal year that ended on or before October 31, 2015. For example, if your
institution’s fiscal year ends on June 30, it would come from the financial statements covering the year ending June 30, 2015. If
your institution’s fiscal year ends on December 31, your financial statements for the year ending December 31, 2014 would be
used.
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5)
We haven’t been audited yet and won’t have an audited financial statement until May. Do I still have to fill
this out?
YES, you must complete the finance component. Base your response on the information you have at this point. Answer the
audit question as “don’t know” and make a note in the context section that the financial statements have not yet been audited.
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6)
What is combined ("parent/child") reporting and how does it work?
Institutional keyholders MUST call the Help Desk before reporting combined data. A Help Desk representative will set up a
combined reporting situation for you. We call this a “parent/child” relationship. In this case, one institution reports data for the
entire unit, which includes the main campus (parent) and all branch campuses (children). All institutions in the combined report
MUST share the same Program Participation Agreement (PPA). Multiple institutions MUST NOT report identical combined data for
the same audit. Please refer to http://nces.ed.gov/ipeds/factsheets/fct_new_finance_2.asp for more information on parent/child
relationships.
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7)
When does a system office need to report data?
A system office needs to report data when reporting combined data or when it has its own separate budget. If a system office’s
budget is integrated into an institution such as a flagship university, it may be included in that institution’s finance survey.
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8)
Can a system office report combined data?
A system office may report combined data for institutions that are included it its system- wide audit if they are included in the
same PPA. For institutions that are not included in the same PPA, the system may report Part A data (Statement of Net Assets,
Statement of Financial Position, or Balance Sheet) for the institutions included in the system-wide audit, but each institution
must report its own revenues, expenses, and scholarships. A more detailed description may be found at
http://nces.ed.gov/ipeds/factsheets/fct_new_finance_2.asp. If a system will be reporting this way, they must contact the Help
Desk before reporting combined data.
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9)
How do I know what reporting standards are used to prepare the financial statements?
Ask your finance officer. This person should be aware of any changes in accounting standards. Typically, public institutions
report using GASB report standards whereas private institutions report using FASB standards.
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10) The fiscal year for my institution changed. How do I report for the finance survey?
A change in fiscal year usually creates a short fiscal year (from the previous fiscal year end date to the new fiscal year end
date). This short fiscal year should be covered by the finance survey. The next finance survey should cover a full fiscal year.
Also, indicate this change in fiscal year in the caveats box at the bottom of the first page of the survey.
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11) What is the difference between “business-type” activities and “governmental” activities?
These activity types refer to how the institution reports, or will report, its financial activities in their general purpose financial
statements (GPFS), as defined in GASB Statement 34. Governmental activities generally are financed through taxes,
intergovernmental revenues, and other nonexchange revenues. Business-type activities are financed in whole or in part by fees
charged to external parties for goods or services.
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12) My institution is part of a system and the system was audited as a unit, so we don’t have an opinion just on
this school. How do I answer the question about the audit opinion?
You should base your answer on the audit for the system since that audit includes your institution.
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13) How are revenues per student FTE and expenses per student FTE calculated, and why were they added to the
screens?
The calculation of these values takes the amounts reported for revenues and expenditures from the finance survey form and
divides those amounts by the 12 month FTE student enrollment from the 12 month enrollment survey that was completed in
the fall data collection. These calculated values are used by the system to compare the data reported by the institution to the
data of institutions that are in the same sector (e.g., public/private, 4-year/2-year) to see if the calculated value is an extreme
value that is too high or low. While it is not anticipated that your institution would have the same overall revenue or expenses,
this comparison may be useful for ensuring that all appropriate amounts have been included in the finance survey component,
or excluded when appropriate.
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Public Institutions Using GASB Standards
1)
Can public institutions report using FASB?
Yes, but only in very rare instances. Your finance/business officer will know which version of the finance component should be
completed.
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2)
What happens if I respond incorrectly to the reporting standards screening question?
You will get the wrong finance forms. If you find you have responded incorrectly, go back to the screening question and change
your response. When you save the screen the old data will disappear and the new correct forms will be available.
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3)
I see the term CV on several lines of the finance survey. What is this referring to?
CV is an abbreviation for Calculated Value. You do not need to enter an amount on this line. Once you click on Verify and Save,
the system will calculate the amount based on other data you have entered. A formula may be found in the same block where
you find the abbreviation CV.
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4)
Where did component units go?
Separate reporting was eliminated when institutions moved to the new aligned reporting that was mandatory starting in 201011. Because the reporting of component units is unique to institutions using GASB standards (mostly used by public institutions)
and not required by those using FASB standards (mostly private institutions), alignment would be better achieved if these units
were not included. However, component unit information should still be included when reporting endowment assets in Part H.
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5)
How do I report deferred outflows and deferred inflows in Part A: Statement of Financial Position?
In order to comply with GASB Statement 63, deferred outflows and deferred inflows will need to be reported in Part A:
Statement of Financial Position. Deferred outflows of resources should be included in Line 01 " Total Current Assets" and
deferred inflows of resources should be included in Line 09 "Total Current Liabilities." This will cause the total assets to equal
total assets plus deferred outflows of resources and total liabilities to equal total liabilities plus deferred inflows of resources.
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6)
We do not capitalize our library. Do I report it on Part A page 2?
If you do not capitalize it, do not report it in property, plant, and equipment.
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7)
If my institution is a GASB-reporter, where should my institution report the gain or loss on the sale of a plant
asset?
Such components in the changes in the net assets of the institution should be reflected in Line 05 in Part D - Summary of
Changes in Net Assets. Although this line is a calculated value that is entitled, Adjustments to beginning net assets, this is the
most appropriate place for these values to be captured (instead of as Other revenue or Other expenses in Part B or C). Although
this type of transaction is NOT an adjustment to beginning net assets, this is the best place for it to be captured in the IPEDS
finance component for comparability with FASB-reporters. Additionally, institutions having such type of transactions should
explain that in the context box available in Part D.
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8)
What are discounts and allowances (Part E)? (We don’t discount our tuition.)
Discounts and allowances are simply the part of scholarships used to pay institutional charges such as tuition and fees or room
and board. The difference between total scholarships (reported in the top part of Part E) and net scholarships expenses
(reported on Part C) is total discounts and allowances.
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9)
What are operating versus nonoperating revenues?
Operating revenues are received in exchange for goods or services provided, such as sales or tuition. The payer must also be
the one who receives the services. Nonoperating revenues result from “nonexchange transactions” such as donations, state
appropriations, tax revenues, and certain grants.
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10) We reported federal appropriations in operating revenues rather than non-operating revenues in our financial
statements. How should I report them on IPEDS?
Federal appropriations are usually accounted for as non-operating revenues, similarly to state appropriations. Amounts reported
as federal appropriations are intended to meet current operating expenses, and not generally intended for a specific purpose as
operating revenues are. If, however, the institution included the revenue in operating revenue, report it there for purposes of
IPEDS as well.
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11) My institution received funds from the American Recovery and Reinvestment Act (ARRA). Where should they
be reported?
GASB-reporting institutions should report ARRA revenues into the total included in Part B, line 19 (Total nonoperating
revenues).
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12) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
No, these VA education benefits should not be included as “federal grant” in the Finance revenue section or as “other federal
student grant aid” in the scholarship/fellowship section. They should be reported as "tuition and fees" revenue received from the
student. VA education benefits should also not be included as discounts/allowances.
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13) What are some examples of independent operations?
Independent operations include federally funded labs such as Argonne at the University of Chicago, the Livermore Labs in the
UC system, and the Jet Propulsion Lab at Cal Tech. These are major ancillary operations that are related to the primary
missions of instruction, research, and public service but they are so significant as to warrant separate classification.
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14) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
This amount is a calculated value. It is derived by subtracting the sum of the detail items above this amount from the total
below it. Negative amounts in these fields are caused when the total entered is less that the sum of the detail items entered.
Check for keying errors and recheck totals. Nonoperating expenses, such as interest on debt, should be reported on Part C.
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15) How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M),
and interest expenses to the other functional expense categories in Part C?
The National Association of College and University Business Officers (NACUBO) has prepared an advisory report (AR 2010-1),
entitled, Public Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest
Expenses to Functional Expense Categories http://www.nacubo.org/Documents/BusinessPolicyAreas/AR_2010_1.pdf to assist
public institutions in developing an approach to allocating these expenses among the functional expense categories. The
Advisory Report steps through a cost allocation approach. Because independent institutions have been allocating such costs for
more than a decade, the Report focuses on methods currently used by independent institutions.
Operation and maintenance expenses should still also be reported in their applicable natural categories, including salaries,
employee benefits, interest, depreciation, and all other expenses. The operations and maintenance column of the operations
and maintenance row must be the negative amount of total operations and maintenance.
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16) Why does operation and maintenance of plant appear as both a row and column in Part C (expenses and other
deductions)?
In the new aligned form for GASB institutions, operation and maintenance of plant appear as both a row and column in Part C
(expenses and other deductions). The row and column are designed to be used to show how the institution distributes operation
and maintenance (O&M) of plant expenses. The total row and column have zeroes for O&M. Consequently, the cell where the
O&M column and row intersect should be a negative number equal to the total O&M expenses of the institution.
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17) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce
costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
The $5 million dollars in expense should be reported in the Total amount of the Employee fringe benefits or Benefits (rather
than being allocated across the other functions such as Instruction, Research, or Institutional support). By doing so, the $5
million dollar expense will appear as an Other expenses & deductions within the benefits column. The consequence of this
reporting is that the one-time early retirement buyout will not affect the historical nature of total or benefits costs by function.
An explanation may also be added to the context box to explain this early retirement buyout. The Financial Accounting and
Reporting Manual (FARM) from the National Association of College and University Business Officers offers little guidance on this
topic. However, the FARM contains useful language from GASB (Statement 47) and FASB (Concept Statement 2) indicating that
such expenses should be treated as benefits: “In financial statements based on accrual accounting, employers should recognize
a liability and expense for voluntary termination benefits (for example, early-retirement incentives) when the offer has been
accepted and the amount can be estimated.”
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18) What are the impacts of GASB Statement 68 on IPEDS finance reporting? Are all institutions affected?
GASB Statement 68 will likely impact liabilities, expenses, resource deferrals, and ultimately net position for public institutions
or higher education systems that participate in their state’s defined benefit plan (agent or cost sharing), or have their own plan.
These institutions are advised:
•
In Part C, to allocate the unfunded pension and related expenses across the functional categories in column 3
(e.g., instruction, research, etc.), as reported on their GPFS.
Note that if a public institution does not have a defined benefit plan, there is no GASB 68 impact. Similarly, if a public institution
is part of a higher education system and the system reflects the additional unfunded pension expense and liability (and does not
allocate the expense and liability to the individual institutions), then there is also no impact from Statement 68 for the individual
public institution. Institutions with branch campuses that are not required to allocate pension expense and liabilities to each
campus will also not be impacted by GASB 68.
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19) Parts JKL: Why can't institutions report negative numbers in the census data sections?
Negative numbers would either belong on the opposite section, (e.g., a negative expenditure should be counted as a revenue),
or not reported if there were no cash exchange.
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20) Part J: Where should ARRA grants be counted?
Report ARRA grants under Part J, Line 03 (Federal Grants and Contracts).
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21) Part J: Should endowment funds held by component units be reported here?
While endowment funds held by component units are included with Part H, they should be excluded in Part J. Census
instructions state to "Exclude gifts to component units."
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Private Not-for-Profit and Public Institutions Using FASB
1)
I see the term CV on several lines of the finance survey. What is this referring to?
CV is an abbreviation for Calculated Value. You do not need to enter an amount on this line. Once you click on Verify and Save,
the system will calculate the amount based on other data you have entered. A formula may be found in the same block where
you find the abbreviation CV.
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2)
What value do I use to report plant, property, and equipment on the second page of Part A?
This is the book value (or the value reported in the accounting records) of these assets without consideration for accumulated
depreciation. This amount should be reported in the notes to the financial statements, or may be supplied by the
business/finance officer of the institution.
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3)
What are allowances in Part C (Scholarships and Fellowships)?
Allowances are the portion of scholarships awarded to students that are used to pay institutional charges such as tuition and
fees or room and board.
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4)
What is the difference between funded and unfunded institutional grants as reported on the Scholarships and
Fellowships part of the survey?
Funded grants are institutional resources restricted for student aid, such as scholarships and fellowships. They have been
restricted by an outside source such as a donor or contract. Unfunded institutional grants are those that are awarded to
students from unrestricted institutional resources.
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5)
Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
No, these VA education benefits should not be included as “federal grant” in the Finance revenue section or as “other federal
student grant aid” in the scholarship/fellowship section. They should be reported as "tuition and fees" revenue received from the
student. VA education benefits should also not be included as discounts/allowances.
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6)
My institution is primarily a hospital with a small instruction program. How should I report the hospital part
of my institution?
Hospitals with a small nursing school or radiologic technology program should report activity for the instructional program only.
The hospital revenues and expenses should not be included. If the instructional program revenues and expenses cannot be
separated from the hospital, contact the Help Desk for further options for reporting.
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7)
What are some examples of independent operations?
Independent operations include federally funded labs such as Argonne at the University of Chicago, the Livermore Labs in the
University of California system, and the Jet Propulsion Lab at Cal Tech. These are major ancillary operations that are related to
the primary missions of instruction, research, and public service but they are so significant as to warrant separate classification.
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8)
I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
This amount is a calculated value. It is derived by subtracting the sum of the detail items above this amount from the total
below it. Negative amounts in these fields are caused when the total entered is less that the sum of the detail items entered.
Check for keying errors and recheck totals.
Back to top
9)
How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M),
and interest expenses to the other functional expense categories in Part C?
The National Association of College and University Business Officers (NACUBO) has prepared an advisory report (AR 2010-1),
entitled, Public Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest
Expenses to Functional Expense Categories http://www.nacubo.org/Documents/BusinessPolicyAreas/AR_2010_1.pdf to assist
public institutions in developing an approach to allocating these expenses among the functional expense categories. The
Advisory Report steps through a cost allocation approach. Because independent institutions have been allocating such costs for
more than a decade, the Report focuses on methods currently used by independent institutions.
Operation and maintenance expenses should still also be reported in their applicable natural categories, including salaries,
employee benefits, interest, depreciation, and all other expenses. The operations and maintenance column of the operations
and maintenance row must be the negative amount of total operations and maintenance.
Back to top
10) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?
The row and column are designed to be used to show how the institution distributes operation and maintenance (O&M) of plant
expenses. Since not- for-profit accounting does not recognize O&M as a function, the total row and column have zeroes for
O&M. Consequently, the cell where the O&M column and row intersect should be a negative number equal to the total O&M
expenses of the institution.
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11) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce
costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
The $5 million dollars in expense should be reported in the Total amount of the Employee fringe benefits or Benefits (rather
than being allocated across the other functions such as Instruction, Research, or Institutional support). By doing so, the $5
million dollar expense will appear as an Other expenses & deductions within the benefits column. The consequence of this
reporting is that the one-time early retirement buyout will not affect the historical nature of total or benefits costs by function.
An explanation may also be added to the context box to explain this early retirement buyout. The Financial Accounting and
Reporting Manual (FARM) from the National Association of College and University Business Officers offers little guidance on this
topic. However, the FARM contains useful language from GASB (Statement 47) and FASB (Concept Statement 2) indicating that
such expenses should be treated as benefits: “In financial statements based on accrual accounting, employers should recognize
a liability and expense for voluntary termination benefits (for example, early-retirement incentives) when the offer has been
accepted and the amount can be estimated.”
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Private for-profit institutions
1) I see the term CV on several lines of the finance survey. What is this referring to?
CV is an abbreviation for Calculated Value. You do not need to enter an amount on this line. Once you click on Verify and Save,
the system will calculate the amount based on other data you have entered. A formula may be found in the same block where
you find the abbreviation CV.
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2) What income tax expenses should my institution report if I belong to both a multi-institution/multi-campus
organization and an IPEDS parent/child relationship?
If the institution can report combined tax expenses for itself and child institutions, it is encouraged to do so. However, if the
institution cannot dis-aggregate tax expenses for itself and child institutions to report, it may report the aggregate amount paid
by the multi-institution/multi-campus organization.
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3) What value do I use to report plant, property, and equipment on the second page of Part A?
This is the book value (or the value reported in the accounting records) of these assets without consideration for accumulated
depreciation. This amount should be reported in the notes to the financial statements, or may be supplied by the
business/finance officer of the institution.
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4) What are allowances in Part C (Scholarship and Fellowships)?
Allowances are the portion of scholarships awarded to students that are used to pay institutional charges such as tuition and
fees or room and board.
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5) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
No, these VA education benefits should not be included as “federal grant” in the Finance revenue section or as “other federal
student grant aid” in the scholarship/fellowship section. They should be reported as "tuition and fees" revenue received from the
student. VA education benefits should also not be included as discounts/allowances.
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6) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
This amount is a calculated value. It is derived by subtracting the sum of the detail items above this amount from the total
below it. Negative amounts in these fields are caused when the total entered is less that the sum of the detail items entered.
Check for keying errors and recheck totals.
Back to top
7) The financial records of my institution do not break down expenses the way they are listed on Part E. How do I
report expenses for my institution?
The National Association of College and University Business Officers (NACUBO) has prepared an advisory report (AR 2010-1),
entitled, Public Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest
Expenses to Functional Expense Categories http://www.nacubo.org/Documents/BusinessPolicyAreas/AR_2010_1.pdf to assist
public institutions in developing an approach to allocating these expenses among the functional expense categories. The
Advisory Report steps through a cost allocation approach. Because independent institutions have been allocating such costs for
more than a decade, the Report focuses on methods currently used by independent institutions.
Operation and maintenance expenses should still also be reported in their applicable natural categories,
including salaries, employee benefits, interest, depreciation, and all other expenses. The operations and
maintenance column of the operations and maintenance row must be the negative amount of total
operations and maintenance. If you need further assistance classifying your expenses, please call the Help Desk.
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8) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?
The row and column are designed to be used to show how the institution distributes operation and maintenance (O&M) of plant
expenses. Since not- for-profit accounting does not recognize O&M as a function, the total row and column have zeroes for
O&M. Consequently, the cell where the O&M column and row intersect should be a negative number equal to the total O&M
expenses of the institution.
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9) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce
costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
The $5 million dollars in expense should be reported in the Total amount of the Employee fringe benefits or Benefits (rather
than being allocated across the other functions such as Instruction, Research, or Institutional support). By doing so, the $5
million dollar expense will appear as an Other expenses & deductions within the benefits column. The consequence of this
reporting is that the one-time early retirement buyout will not affect the historical nature of total or benefits costs by function.
An explanation may also be added to the context box to explain this early retirement buyout. The Financial Accounting and
Reporting Manual (FARM) from the National Association of College and University Business Officers offers little guidance on this
topic. However, the FARM contains useful language from GASB (Statement 47) and FASB (Concept Statement 2) indicating that
such expenses should be treated as benefits: “In financial statements based on accrual accounting, employers should recognize
a liability and expense for voluntary termination benefits (for example, early-retirement incentives) when the offer has been
accepted and the amount can be estimated.”
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2015-16 Survey Materials > Narrative Edits
date: 8/4/2015
Finance for Non-degree-granting, Private for-profit institutions
Edit specifications for the 2015-16 IPEDS Web-Based Data Collection
Finance Component
Applicable to Non-degree-granting, Private-for-profit FASB-reporting institutions that are NOT 'full
children'
NOTE: The specifications in this document apply to the institutions listed above and related administrative offices.
Some sections and parts may not apply to your particular institution. Please read the specifications carefully to
determine which sections and/or parts apply to your institution.
All screens must be completed in order to lock the survey.
General Information
Part C: Scholarships and Fellowships
Part D: Revenues and Investment Return
Part E: Expenses by Functional and Natural Classification
General Information
On this screen, you must provide the following information. The answers given here will determine which screens your
institution is shown throughout the remainder of this survey.
•
•
•
•
•
Enter the Beginning date for your institution’s Fiscal Year Calendar by month (MM) and year (YYYY). The date
reported should be for the most recent fiscal year ending before October 1, 2015.
Enter the Ending date for your institution’s Fiscal Year Calendar by month (MM) and year (YYYY). The date reported
should be for the most recent fiscal year ending before October 1, 2015.
Indicate the type of audit opinion your institution received on its General Purpose Financial Statements for the fiscal
year specified above. You may choose from the following options:
◦ Unqualified
◦ Qualified (If this option is selected, then you must explain the nature of the qualification in the context box at
the bottom of the screen.)
◦ Don’t know (If this option is selected, then you must provide an explanation in the context box at the bottom
of the screen.)
Does your institution account for Pell grants as pass through transactions (a simple payment on the student’s account)
or as federal revenues to the institution? You may choose from the following options:
◦ Pass through (agency)
◦ Federal appropriations, grants, and contracts
◦ Does not award Pell grants
What type of business structure is the institution for tax purposes?
◦ Sole Proprietorship
◦ Partnership (General, Limited, Limited Liability)
◦ C Corporation (If this option is selected, then you must complete the Part F - Income Tax Expenses screen)
◦ S Corporation
◦ Limited Liability Company (LLC) (If this option is selected, then you must complete the Part F - Income Tax
Expenses screen)
The system will perform the following edits on the data entered:
•
•
•
•
•
•
•
The Month entered for the Beginning date of the fiscal year should be between 1 and 12.
The Month entered for the Ending date of the fiscal year should be between 1 and 12.
The Year entered for the Beginning date of the fiscal year should be either 2013 or 2014.
The Year entered for the Ending date of the fiscal year should be either 2014 or 2015.
The fiscal year Beginning date cannot be earlier than October 2013.
The fiscal year Ending date cannot be later than October 2015.
The fiscal year Ending date must be between 1 and 12 months later than the reported fiscal year Beginning date.
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Part C: Scholarships and Fellowships
On this screen, you must report details about your institution’s scholarship and fellowship expenses for the most recent 12month fiscal year.
Enter the Current year amount for each of the following:
•
•
•
•
•
•
•
Pell grants, federal (line 01)
Other federal grants, do not include FDSL amounts (line 02)
State and local grants, government, state grants (line 03a)
State and local grants, government, local grants (line 03b)
Institutional grants (line 04)
Allowances applied to tuition and fees (line 06)
Allowances applied to auxiliary enterprise revenues (line 07)
Upon saving the screen, the system uses the first four items above to calculate the Total scholarships and fellowships
(line 05) value for use throughout this survey. Prior year amounts are displayed for your reference.
The system will perform the following edits on the data entered:
•
•
•
•
•
•
If Federal grant revenue was selected for Question 3 on the General Information screen, then the value reported
for Pell grants (line 01) is expected to be greater than 0.
The calculated value for Total scholarships and fellowships (line 05) is expected to be greater than 0.
If the Prior year amount of Total scholarships and fellowships is greater than 0, then the current year value
may NOT be equal to that amount.
The calculated value for Total scholarships and fellowships is expected to be within a 50% range of the
corresponding Prior year amount.
The calculated value for Total scholarships and fellowships must be greater than or equal to the sum of
Allowances applied to tuition and fees (line 06) and Allowances applied to auxiliary enterprise revenues
(line 07).
If Pass through (agency) was selected for Question 3 on the General Information screen, then the sum of
Allowances applied to tuition and fees (line 06) and Allowances applied to auxiliary enterprise revenues
(line 07) must be less than or equal to the amount of Total scholarships and fellowships (line 05) minus the
amount reported for Pell grants (line 01).
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Part D: Revenues and Investment Return
On this screen, enter the Current year amount for each of the following:
•
•
•
•
•
•
•
•
•
•
•
Tuition and fees, net amount reported in Part C, line 06 (line 01)
Federal appropriations (line 02a)
Federal grants and contracts (line 02b)
State appropriations (line 03a)
State grants and contracts (line 03b)
Local appropriations (line 03c)
Local government grants and contracts (line 03d)
Private gifts grants and contracts (line 04)
Investment income and investment gains (losses) included in the net income (line 05)
Sales and services of educational activities (line 06)
Total revenues and investment return (line 09)
Upon saving the screen, the system will use the above values to calculate the amount of Other revenue (line 08). The Prior
Year Total Amount for each source of funding is displayed for your reference.
Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 10). This value
is used in combination with the reported data to calculate the Total revenues and investment return per student FTE
(line 11).
The system will perform the following edits on the data entered:
•
•
•
•
•
•
•
•
If your institution is NOT an administrative office, then a value must be entered for Tuition and fees (line 01).
If your institution is NOT an administrative office, then the value reported for Tuition and fees is expected to be
greater than 0.
The value reported for Tuition and fees is expected to be within a 50% range of the corresponding Prior year
amount.
The amount entered for Tuition and fees (line 01) in Part D cannot be equal to the amount entered for Allowances
applied to Tuition and fees (line 06) in Part C.
The amount calculated for Other Revenue (line 08) cannot be negative.
The amount calculated for Other Revenue is expected to be less than or equal to 75% of the Total revenues and
investment return (line 09) value.
The amount reported for Total revenues and investment return (line 09) must be greater than 0.
The amount reported for Total revenues and investment return (line 09) is expected to be within a 30% range of
the corresponding Prior year amount.
•
•
•
If the Prior year amount of Total revenues and investment return is greater than 0, then the current year value
may NOT be equal to that amount.
If your institution is 2-year institution, and a value greater than 0 is preloaded for 12-month student FTE from E12
(line 10), then the value calculated for Total revenues and investment return per student FTE (line 11) is
expected to be between 2,500 and 60,000. If the value is greater than 75,000, then a fatal error will occur.
If your institution is less-than-2-year institution, and a value greater than 0 is preloaded for 12-month student FTE
from E12 (line 10), then the value calculated for Total revenues and investment return per student FTE (line
11) is expected to be between 500 and 30,000. If the value is greater than 45,000, then a fatal error will occur.
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Part E: Expenses by Functional and Natural Classification
For Part E, you must report your institution’s expenses by function for the most recent 12-month fiscal year.
Applicable to all non-administrative offices, and administrative offices that are full parents
For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,
Depreciation, and Interest), enter the amount of operating and non-operating expenses incurred in each of the following
functional categories:
•
•
•
•
•
•
•
•
Instruction (line 01)
Research (line 02)
Public service (line 03)
Academic support (line 04)
Student services (line 05)
Institutional support (line 06)
Net grant aid to students (line 08)
Operation and maintenance of plant (line 11)
You must also report a Total Amount for Total expenses (line 13).
Upon saving the screen, the system will use the above values to calculate the amount of All other expenses (column 7)
within each functional category, and the amount of Other expenses (line 12) incurred by expense type. For your reference,
the PY Total Amount for each functional category is also displayed, along with the Prior year total expenses by expense
type.
Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 14). This value
is used in combination with the reported data to calculate the Total expenses per student FTE (line 15).
The system will perform the following edits on the data entered:
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
For each functional category, the values reported for each expense type must be less than or equal to the Total
amount (column 1) reported for that category.
For each expense type and functional category, the value reported cannot be negative; with the following exception:
◦ The Operation and maintenance of plant expense type (column 4) in the Operation and maintenance of
plant category (line 11).
A Total Amount (column 1) must be entered for Instruction (line 01).
The Total amount (column 1) reported for Instruction (line 01) is expected to be greater than 0.
The Total Amount reported for Instruction (line 01) is expected to be within a 50% range of the corresponding PY
Total Amount (column 8).
A Total Amount (column 1) must be entered for Academic support (line 03a).
A Total Amount (column 1) must be entered for Student Services (line 03b).
A Total Amount (column 1) must be entered for Institutional support (line 03c).
The Total Amount reported for Net grant aid to students is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount (column 1) calculated for Other expenses (line 06) is expected to be less than or equal to 75%
of the Total amount (column 1) reported for Total expenses (line 07).
The Total amount (column 1) reported for Total expenses (line 07) must be greater than 0.
The Total amount of Prior year total expenses is greater than 0, then the Total Amount (column 1) reported for
Total expenses (line 07) may NOT be equal to that amount.
The Total amount (column 1) reported for Total expenses (line 07) is expected to be within a 30% range of the
corresponding Prior Year total expenses.
A Salaries and wages value (column 2) must be entered for the following expense types:
◦ Instruction (line 01)
◦ Academic support (line 03a)
◦ Student services (line 03b)
◦ Institutional support (line 03c)
The Salaries and wages (column 2) reported for Instruction (line 01) is expected to be greater than 0.
The Salaries and wages (column 2) reported for Total expenses (line 07) must be greater than 0.
If the value reported for the Operation and maintenance of plant expense type (column 4) in the Operation and
maintenance of plant category (line 11) is less than -1 million, then the amount reported for Instruction (line 01)
in column 4 must be within a range of -10% to -70% of the absolute value of that amount.
•
•
•
•
•
•
•
If a value greater than 0 is reported on any line for the Operation and maintenance of plant expense type (column
4), then the value reported for the Operation and maintenance of plant expense type (column 4) in the
Operation and maintenance of plant category (line 11) on this screen must be negative.
If the Total expenses (line 07) reported for Depreciation (column 5) is greater than 1 million, then the amount
allocated to Instruction (line 01) must be between 10% and 70% of the total amount.
If the Total expenses reported for Depreciation (column 5) is greater than 1 million, then the value calculated for
Other expenses (line 06) must be less than 50% of the total amount.
If the Total expenses (line 07) reported for Interest (column 6) is greater than 1 million, then the amount allocated
to Instruction (line 01) must be between 10% and 70% of the total amount.
If the Total expenses reported for Interest (column 6) is greater than 1 million, then the value calculated for Other
expenses (line 06) must be less than 50% of the total amount.
If your institution is a 2-year institution, and a value greater than 0 is preloaded for the 12-month Student FTE
from E12 (line 08), then the value calculated for Total expenses per student FTE (line 09) is expected to be
between 1,500 and 65,000. If the value is greater than 80,000, then a fatal error will occur.
If your institution is a less-than-2-year institution, and a value greater than 0 is preloaded for the 12-month Student
FTE from E12 (line 08), then the value calculated for Total expenses per student FTE (line 09) is expected to be
between 500 and 75,000. If the value is greater than 150,000, then a fatal error will occur.
The following edits will compare the data entered on this screen to other parts of the Finance component:
•
•
•
•
•
The Total Amount reported for Net grant aid to students (line 08) on this screen must be less than or equal to the
difference between Total scholarships and fellowships and the sum of Allowances (scholarships) applied to
tuition and fees and Allowances (scholarships) applied to auxiliary enterprise revenues reported in Part C of
this survey.
If the Total amount (column 1) reported for Total expenses (line 13) on this screen is greater than 10 million, then
the value reported for Total revenues and investment return in Part D of this survey is expected to be less than
150% of that amount.
If the Total for Plant, Property and Equipment calculated on the Statement of Net Assets, Page 2 screen in
Part A of this survey is greater than 10 million, then the value reported for the Operation and maintenance of
plant expense type (column 4) in the Operation and maintenance of plant category (line 11) on this screen must
be negative.
If the Total for Plant Property and Equipment reported in Part A of this survey is greater than 10 million, then
the Total expenses (line 13) reported for Depreciation (column 5) must be greater than 0.
If the Long term debt reported in Part A of this survey is greater than 1 million, then the Total expenses (line 13)
reported for Interest (column 6) must be greater than 0.
Applicable to administrative offices that are not full parents
For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,
Depreciation, and Interest), enter the amount of operating and non-operating expenses incurred in each of the following
functional categories:
•
•
•
•
•
•
•
•
•
Instruction (line 01)
Research (line 02a)
Public service (line 02b)
Academic support (line 03a)
Student services (line 03b)
Institutional support (line 03c)
Net grant aid to students, net of allowances for tuition and fee and auxiliary enterprises (line 05)
Operation and maintenance of plant (line 11)
Total expenses (line 07)
Upon saving the screen, the system will use the above values to calculate the amount of All other expenses (column 7)
within each functional category, and the amount of Other expenses (line 06) incurred by expense type. For your reference,
the PY Total Amount for some functional category are also displayed, along with the Total amount (column 1) of Prior
year total expenses.
Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 08). This value
is used in combination with the reported data to calculate the Total expenses per student FTE (line 09).
The system will perform the following edits on the data entered:
•
•
•
For each functional category, the values reported for each expense type must be less than or equal to the Total
amount (column 1) reported for that category.
For each expense type and functional category, the value reported cannot be negative; with the following exception:
◦ The Operation and maintenance of plant expense type (column 4) in the Operation and maintenance of
plant category (line 11).
If the amount reported for Tuition and fees in Part D of this survey is equal to 0, then the values reported for
Instruction (line 01) on this screen are also expected to be equal to 0 for the following expense types:
•
•
•
•
•
•
•
•
•
•
•
•
•
◦ Total amount (column 1)
◦ Sa laries and wages (column 2)
◦ Benefits (column 3)
◦ Operation and maintenance of plant (column 4)
◦ Depreciation (column 5)
◦ Interest (column 6)
The Total Amount reported for Instruction (line 01) is expected to be within a 50% range of the corresponding PY
Total Amount (column 8).
A Total Amount (column 1) must be entered for Academic support (line 03a).
A Total Amount (column 1) must be entered for Student Services (line 03b).
A Total Amount (column 1) must be entered for Institutional support (line 03c).
The Total Amount reported for Net grant aid to students (line 05) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount reported for Net grant aid to students (line 05) on this screen must be less than or equal to the
difference between Total scholarships and fellowships and the sum of Allowances (scholarships) applied to
tuition and fees and Allowances (scholarships) applied to auxiliary enterprise revenues reported in Part C of
this survey.
The Total Amount (column 1) calculated for Other expenses (line 06) is expected to be less than or equal to 75%
of the Total amount (column 1) reported for Total expenses (line 07).
The Total amount (column 1) reported for Total expenses (line 07) must be greater than 0.
If the Total amount of Prior year total expenses is greater than 0, then the Total Amount (column 1) reported
for Total expenses (line 07) may NOT be equal to that amount.
The Total amount (column 1) reported for Total expenses (line 07) is expected to be within a 30% range of the
corresponding Prior Year total expenses.
A Salaries and wages value (column 2) must be entered for the following expense types:
◦ Academic support (line 03a)
◦ Student services (line 03b)
◦ Institutional support (line 03c)
The Salaries and wages (column 2) reported for Total expenses (line 07) must be greater than 0.
If a value greater than 0 is reported on any line for the Operation and maintenance of plant expense type (column
4), then the value reported for the Operation and maintenance of plant expense type (column 4) in the
Operation and maintenance of plant category (line 11) on this screen must be negative.
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U.S. Department of Education
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Of
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NCES Privacy Policy
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NCES National Center for Education Statistics
2015-16 Survey Materials > Form
date: 8/4/2015
Finance for non-degree-granting private, not-for-profit institutions and public
institutions using FASB Reporting Standards
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.
There are no new changes to the 2015-16 Finance data collection. However, a new FAQ clarifying how to report VA
education benefits has been added for all institutions. For GASB institutions, instructions for parts J,K,L have been
slightly modified for clarity and new FAQs have been added referencing implementation of GASB Statements 67 & 68
and parts J,K,L.
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.
Finance - Private not-for-profit institutions and Public institutions using FASB standards
FASB-Reporting Institutions
General Information - Fiscal Year and Audit
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 Calendar
This 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, 2015.)
Beginning: month/year (MMYYYY)
Month:
Year:
And ending: month/year (MMYYYY)
Month:
Year:
2. Audit Opinion
Did 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.)
Unqualified
Don't know (Explain in box
Qualified (Explain in box
below)
below)
5. Does your institution account for Pell grants as pass through transactions (a simple payment on the
student's account) or as federal grant revenues to the institution?
Federal grant revenue
Does not award Pell grants
Pass through
(agency)
You may use the space below to provide context for the data you've reported above.
Part C - Scholarships and Fellowships
Most recent fiscal year ending before October 2015
DO NOT REPORT FEDERAL DIRECT STUDENT LOANS (FDSL) ANYWHERE IN THIS SECTION
Line No.
Scholarships and Fellowships
Current year amount Prior year amount
01
Pell grants (federal)
02
Other federal grants Do NOT include FDSL amounts
03
State grants
04
Local grants (government)
05
Institutional grants (funded)
06
Institutional grants (unfunded)
07
08
Total scholarships and fellowships
CV=[C01+...+C06]
Allowances (scholarships) applied to tuition and fees
09
Allowances (scholarships) applied to auxiliary enterprise revenues
You may use the space below to provide context for the data you've reported above.
Part D - Revenues and Investment Return
Most recent fiscal year ending before October 2015
Line
No.
Source of Funds
Total
Amount
Unrestricted Temporarily
restricted
01 Tuition and fees (net of allowance
reported in Part C, line 08)
Government Appropriations
02 Federal appropriations
03 State appropriations
04 Local appropriations
Government Grants and Contracts
05 Federal grants and contracts (Do not
include FDSL)
06 State grants and contracts
07 Local government grants and
contracts
Private Gifts, Grants and Contracts
08 Private gifts, grants and contracts
08a Private gifts
08b
Private grants and contracts
09 Contributions from affiliated entities
Other Revenue
10 Investment return
11 Sales and services of educational
activities
15 Other revenue
CV=[D16-(D01+...+D11)]
16 Total revenues and investment
return
17 Net assets released from restriction
0
18 Net total revenues, after assets
released from restriction
19 12-month Student FTE from E12
20 Total revenues and investment return
per student FTE CV={D16/D19]
You may use the space below to provide context for the data you've reported above.
Permanently
restricted
Prior Year
Total
Amount
Part E - Expenses by Functional and Natural Classification
Line Expenses by
No. Functional
Classification
Most recent fiscal year ending before October 2015
Report Total Operating AND Non-Operating Expenses in this section
(1)
(2)
(3)
(4)
(5)
(6)
Total
Salaries
Employee Operation
Depreciation Interest
amount
and wages fringe
and
benefits
maintenance
of plant
(7)
(8)
All PY
other Total
Amount
01 Instruction
02 Research
03 Public service
04 Academic support
05 Student services
06 Institutional support
08 Net grant aid to students
(net of tuition and fee
allowances and agency
transactions)
11 Operation and
maintenance of plant
(see instructions)
12 Other expenses
CV=[E13-(E01+...+E11)]
13 Total expenses
0
0
Prior year total
expenses
14 12-month Student FTE
from E12
15 Total expenses per
student FTE
CV=[E13/E14]
You may use the space below to provide context for the data you've reported above.
U.S. Department of Education
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NCES National Center for Education Statistics
2015-16 Survey Materials > Instructions
date: 8/4/2015
Finance Not-for-Profit (FASB) non degree
Purpose of Component
Changes in Reporting for 2015-16
General Instructions
Reporting Period Covered
Context Boxes
Coverage
What to Include
What Not to Include
Where to Get Help for Reporting
Where to Get Additional Help for Finance
Where the Reported Data Will Appear
Detailed Instructions
General Information
Part C: Scholarships and Fellowships
Part D: Revenues and Investment Return
Part E: Expenses by Functional and Natural Classification
Purpose of Component
The purpose of the IPEDS Finance component is to collect basic financial information from items associated with the
institution's General Purpose Financial Statements (GPFS). Item areas include:
•
•
•
Scholarships and Fellowships / Student Grant Aid
Revenues and Investment Return
Expenses by Functional and Natural Classification
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Changes in Reporting
There have been no changes to the 2015-16 Finance data collection from the 2014-15 collection. However, a new FAQ
clarifying how to report VA education benefits has been added for all institutions.
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General Instructions
Reporting Period Covered
The starting point for reporting should be amounts reported in the GPFS for the most recent fiscal year ending
before October 1, 2015. For institutions with fiscal years ending on December 31, this would be the calendar year
2014.
About the Data
Data providers for this component should be familiar with college and university accounting policies and practices as
described by the National Association of College and University Business Officers (NACUBO). To provide additional
help, accounting terms are underlined and linked to definitions found in the online glossary.
Four different types of data appear in this component. There are data:
•
•
•
•
Institutions provide from their GPFS and/or underlying records.
That are prior year data, shown in red, which can be used as a comparison with the current year's data being
reported.
That are carried forward from one part of the component to another part to insure that the data are internally
consistent.
Calculated from the other data elements.
In the latter two cases, the data provider is requested to check that the carried forward data and the calculated data
are consistent with the data found in the institution's GPFS. If the data carried forward or calculated are not consistent
with the institution's GPFS, then an error in data entry may have occurred.
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Context Boxes
Context boxes are provided to allow institutions to provide more information regarding survey component items. Note
that some context boxes are posted on the College Navigator Website, which is the college search tool offered by
NCES. NCES will review entries in these context boxes for applicability and appropriateness before posting them on the
College Navigator Website; institutions should check grammar and spelling of their entries.
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Coverage
What to Include
The reporting entity's financial accounting policies and procedures should be the beginning basis for reporting to this
IPEDS survey component. However, deviations from the GPFS may be required to respond to this IPEDS survey
component. Some of these deviations include:
•
•
•
•
•
If financial categories in the institution’s GPFS are more aggregated than required for this IPEDS survey
component, then use underlying institutional records to determine the necessary amounts.
If financial categories in the institution’s GPFS are more detailed than required, then combine the GPFS
amounts and report only the combined number for this IPEDS survey component.
If amounts are reported in categories in the GPFS that differ from those required for the IPEDS survey, move
those amounts to the IPEDS-requested categories.
Report all financial amounts in WHOLE DOLLARS only, omitting cents.
For any item on the survey component where exact data do not exist in the GPFS, please give estimates.
What NOT to Include
Do not report any projected amounts for future years. Do not make adjustments for prior-year corrections unless they
are included as such corrections in the GPFS.
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Where to Get Help with Reporting
IPEDS Help Desk
Phone: 1-877-225-2568
Email: [email protected]
Web Tutorials
You can also consult the IPEDS website which contains several tutorials on IPEDS data collection, a self-paced
overview of IPEDS tools, and other valuable resources.
IPEDS Resource Page
The IPEDS Resource Page (located on the IPEDS homepage) contains frequently asked questions, a link to the IPEDS
Glossary, data tip sheets, an archive of survey instruments, information on the race/ethnicity categories, and other
valuable information.
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Where to Get Additional Help for Reporting Finance on this Component
There may be places on and off your campus to get assistance in reporting.
Assistance on campus
Although institutions may be organized in different ways and use different titles for offices, an office on your campus
that might help you to report data on this survey component might be called:
•
•
•
•
•
•
•
Office of the Chief Financial Officer
Office of Administration and Finance
Office of Finance
Office of Budget
Office of Financial Services
Office of the Comptroller (or Controller)
Office of Accounting
Assistance off campus
Additional references may be found in the National Association of College and University Business Officers’ (NACUBO)
Financial Accounting and Reporting Manual (FARM) which is available online. Additional information may be found at
the NACUBO website (www.nacubo.org). Someone at your institutions in one or more of the offices listed above may
already have access to the FARM.
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Where the Reported Data Will Appear
Data collected through IPEDS will be accessible at the institution- and aggregate-levels.
At the institution-level, data will appear in the:
•
•
•
•
College Navigator Website
IPEDS Data Center
IPEDS Data Feedback Reports
College Affordability and Transparency Center Website
At the aggregate-level, data will appear in:
•
•
•
•
•
IPEDS First Looks
IPEDS Table Library
IPEDS Data Feedback Reports
The Digest of Education Statistics
The Condition of Education
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Detailed Instructions
This section provides line-by-line instructions for each Part of the Finance Component.
In the instructions, numbers found in parentheses at the end of each line provide additional reference to paragraphs in
the National Association of College and Universities' Business Officers' (NACUBO) Financial Accounting and Reporting
Manual (FARM). There are also some references to the Statement of Financial Accounting Standards (SFAS).
General Information
Fiscal Year: Enter the beginning and ending dates of the period covered for the reported financial data. If the period
is not a full 12-month year, explain in the context box below why a 12-month period was not included.
Audit Opinion: Check the appropriate box to indicate if the GPFS received an unqualified opinion from your auditors.
If “qualified” is checked, please note in the context box the nature of the qualification. If the statements have not been
audited, please check “Don’t know” and note in the context box that the GPFS are unaudited.
Pell Grants: Indicate whether the institution accounts for Pell grants as pass-through payments or as federal
revenue. If the institution does not award Pell grants, select the applicable option.
Institutions that do receive Pell grants have the option to report Pell grants either as:
•
federal revenue and allowance to tuition and fees and/or auxiliary enterprises (for room and board, books,
meals, etc.). If the Pell grant is counted as federal revenue, then there should be an offsetting
discount/allowance to tuition and fees revenue and/or auxiliary enterprise revenue so that the Pell grants are
not being double counted in the institution's revenues.
•
as a pass-through transaction. A pass-through transaction is essentially a payment on the student's account
where the institution is purely processing the Pell Grant and those monies are not counted by the institution
until they come in as a tuition payment from the student. The latter option is sometimes referred to as an
agency transaction. With this option Pell grants are not counted as federal revenues and are not considered to
be a discount/allowance to tuition and fees or auxiliary enterprises.
OR
Please note that regardless of how Pell grants are treated for revenues or expenses, they should still be
reported in Part C: Scholarships and Fellowships under Pell grants.
Context: Enter in this space any explanations specified in other instructions or any other information critical to
financial statement users.
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Part C - Scholarships and Fellowships
This part is intended to report details about scholarships and fellowships.
For each source on lines 01–06, enter the amount of resources received that are used for scholarships and fellowships.
Scholarships and fellowships include: grants-in-aid, trainee stipends, tuition and fee waivers, and prizes to students.
Student grants do not include amounts provided to students as payments for teaching or research or as fringe
benefits.
For lines 08 and 09, identify amounts that are reported in the GPFS as allowances only. "Allowance" means the
institution displays the financial aid amount as a deduction from tuition and fees or a deduction from auxiliary
enterprise revenues in its GPFS.
The allowance category is intended to be consistent with the definitions provided in the NACUBO Advisory Report
Accounting and Reporting Scholarship Allowances to Tuition and Other Fee Revenues by Higher Education (AR 97-1,
January 17, 1997), which is available at the NACUBO website (www.nacubo.org). AR 97-1 states:
"A scholarship allowance is the difference between the stated charge for goods and services provided by the institution
and the amount which is billed to students and/or third parties making payments on behalf of students. In considering
what is or is not revenue, the following rule applies: amounts received to satisfy student tuition and fees will be
reported as revenue only once (e.g. student fees, gifts, investment income) and only amounts received from students
and third-party payers to satisfy tuition and fees will be recognized as tuition and fee revenue."
For more information on reporting discounts and allowances in scholarships and fellowships, access the (IPEDS Tip
Sheet).
Refer to these specific instructions for more information about reporting student scholarships and fellowships.
01 – Pell grants (federal) – Enter the amount awarded to the institution under the Pell Grant program. Private
institutions generally report Pell Grants as agency transactions.
02 – Other federal grants – Enter the amount awarded to the institution under federal student aid programs other
than Pell, such as the Federal Supplemental Education Opportunity Grants (FSEOG), DHHS training grants (aid portion
only), and the federal portion of State Student Incentive Grants (SSIG). Do not include institutional matching portions
for any of these programs here, they should be reported as institutional grants. Do not include Federal Direct Student
Loans, Federal Work Study, or federal veteran education benefits.
03 – State grants – Enter the amount awarded to the institution under state student aid programs, including the
state portion of State Student Incentive Grants (SSIG).
04 – Local grants (government) – Enter the amount awarded to the institution under local government student aid
programs.
05 – Institutional grants (funded) – Enter the amounts awarded to students from institutional resources restricted
for the purpose of scholarships and fellowships, such as scholarships and fellowships funded by gifts or endowment
return restricted for that purpose. Only if control over how the resources will be spent passes to the student (for
example, the grant is paid directly to the student to use to defray the cost of off-campus housing) is the amount
reported as revenue and expense.
06 – Institutional grants (unfunded) – Enter the amount awarded to students from unrestricted institutional
resources. Only if control over how the resources will be spent passes to the student (for example, the grant is paid
directly to the student to use to defray the cost of off-campus housing) is the amount reported as revenue and
expense.
07 – Total scholarships and fellowships – This calculated value is the sum of lines 01 through 06. Because this is a
calculated value data providers are advised to check this amount with the corresponding amount on their GPFS or
underlying records. If these amounts differ materially, the data provider is advised to check the other amounts
provided on this screen for data entry errors.
08 – Allowances (scholarships) applied to tuition and fees – Enter the amount of allowances (scholarships)
applied to tuition and fees. The amount on this line, when added to the amount in Part D, line 01 equals gross tuition
and fees. (FARM para. 460)
09 – Allowances (scholarships) applied to auxiliary enterprise revenues – Enter the amount of allowances
(scholarships) applied to auxiliary enterprise revenues (e.g., dormitory charges). The amount on this line, when added
to the amount in Part D, line 12 equals gross auxiliary enterprise revenue. (FARM 460)
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Part D – Revenues and Investment Return
PLEASE COMPLETE PART C BEFORE PROVIDING DATA FOR PART D.
This part is intended to report revenues by source.
The revenues and investment return reported in this part should agree with the revenues reported in the
institution’s GPFS.
All revenue source categories are intended to be consistent with the definitions provided in Chapter 4 (Accounting for
Private Colleges and Universities) of the NACUBO FARM.
Exclude from revenue (and expenses) interfund or intraorganizational charges and credits. Interfund and
intraorganizational charges and credits include interdepartmental charges, indirect costs, and
reclassifications from temporarily restricted net assets.
Revenues are reported by restriction (columns) and by source (rows).
Column 1, Total Amount – This column is calculated by the sum of the columns 2 through 4.
Column 2, Unrestricted – Report revenues that are not subject to limitations by a donor-imposed restriction.
Column 3, Temporarily Restricted – Report revenues that are subject to limitation by donor specification as to use
or the time when use may occur (such as a later period of time or after specified events have occurred).
Column 4, Permanently Restricted – Report revenues that must be maintained in perpetuity due to a donorimposed restriction.
For institutions receiving American Recovery and Reinvestment Act (ARRA) revenues during the reporting period,
report these amounts as part of line 16, Total revenues and investment return. If the GPFS shows a separate amount
for ARRA revenues in another revenue category (e.g., Federal grants and contracts) remove that amount from that
other category for IPEDS reporting.
Refer to these specific instructions for more information about reporting revenues and investment return.
01 – Tuition and fees (net of allowance reported in Part C, line 08) – Enter the amount of tuition and
educational fees, net of any allowances applied in the GPFS. Include in this amount all fees for continuing education
programs, conferences, and seminars. (FARM para. 460)
Government Appropriations
02 – Federal appropriations – Enter all amounts received from the federal government through a direct
appropriation of Congress, except grants and contracts, which should be reported on line D05. An example of a federal
appropriation is a federal land-grant appropriation. (FARM para. 463) Do not include Pell Grants on this line . Do
not include any ARRA revenues on this line (see line 15 in this part).
03 – State appropriations – Enter all amounts received from a state government through a direct appropriation of
its legislative body, except for state grants and contracts, which should be reported on line 06. An example of a state
appropriation that should be entered on line 03 is an annual state appropriation for operating expenses of the
institution. (FARM para. 463) Do not include any ARRA revenues on this line (see line 15 in this part).
04 – Local appropriations – Enter all amounts received from a local government (i.e., city and/or county) through a
direct appropriation of its legislative body, except for local grants and contracts, which should be reported on line 07.
An example of a local appropriation that should be entered on line 04 is an annual local appropriation for operating
expenses of the institution. (FARM para. 463)
Government Grants and Contracts
05 – Federal grants and contracts – Enter all revenues from federal agencies that are for specific undertakings
such as research projects, training projects, and similar activities, including contributions from federal agencies. If
federal Pell and similar student aid grants are treated as agency transactions in your GPFS, they are excluded from
this amount. If federal Pell and similar student aid grants are treated as student aid expenses or as allowances when
awarded, include the grant revenue on this line and in Part C. (FARM para. 464) Do not include any ARRA revenues
on this line (see line 15 in this part).
06 – State grants and contracts – Enter all revenues from state government agencies that are for specific
undertakings such as research projects, training projects, and similar activities, including contributions from state
agencies. If state grants for student aid are treated as agency transactions in your GPFS, they are excluded from this
amount. If state grants for student aid are treated in your GPFS as student aid expenses or as allowances when
awarded, include the grant revenue on this line and in Part C. (FARM para. 464) Do not include any ARRA revenues
on this line (see line 15 in this part).
07 – Local government grants and contracts – Enter all revenues from local government agencies that are for
specific undertakings such as research projects, training projects, and similar activities, including contributions from
local agencies. If local grants for student aid are treated as agency transactions in your GPFS, they are excluded from
this amount. If local grants for student aid are treated in your GPFS as student aid expenses or as allowances when
awarded, include the grant revenue on this line and in Part C. (FARM para. 464)
Private Gifts, Grants, and Contracts
08a – Private gifts – Enter revenues from private (non-governmental) entities including revenues received from gift
or contribution nonexchange transactions (including contributed services) except those from affiliated entities, which
are entered on line 09. Includes bequests, promises to give (pledges), gifts from an affiliated organization or a
component unit not blended or consolidated, and income from funds held in irrevocable trusts or distributable at the
direction of the trustees of the trusts. Includes any contributed services recognized (recorded) by the institution.
(FARM para. 462)
08b – Private grants and contracts – Enter revenues from private (non-governmental) entities that are for specific
research projects, other types of programs, or for general institutional operations (if not government appropriations).
Examples are research projects, training programs, and similar activities for which amounts are received or expenses
are reimbursable under the terms of a grant or contract, including amounts to cover both direct and indirect expenses.
(FARM para. 464)
09 – Contributions from affiliated entities – Enter all revenues received from non-consolidated affiliated entities,
such as fund raising foundations, booster clubs, other institutionally-related foundations, and similar organizations
created to support the institution or organizational components of the institution.
Other Revenue
10 – Investment return – Enter all investment income (i.e., interest, dividends, rents and royalties), gains and
losses (realized and unrealized) from holding investments (regardless of the nature of the investment), student loan
interest, and amounts distributed from irrevocable trusts held by others (collectively referred to as "investment
return"). Changes in the value of interest rate swaps should be included in this amount.
11 – Sales and services of educational activities – Enter all revenues derived from the sales of goods or services
that are incidental to the conduct of instruction, research or public service, and revenues of activities that exist to
provide instructional and laboratory experience for students and that incidentally create goods and services that may
be sold. Examples include film rentals, scientific and literary publications, testing services, university presses, dairies,
and patient care clinics that are not part of a hospital. The revenue of patient care clinics that are part of a hospital is
included in Part D, line 13. (FARM para. 465)
15 – Other revenue - This calculated value is generated using this formula:
D15 = D16 – (D01 + … + D11)
Because this is a calculated value, data providers are advised to compare this amount with the corresponding amount
from their GPFS or underlying records. If these amounts differ materially, the data provider is advised to check the
other amounts provided on this screen for data entry errors. For institutions that received American Recovery
and Reinvestment Act (ARRA) revenues during the reporting period, allow these amounts to be reported
through this calculated value by including the amount in line 16.
16 – Total revenues and investment return - Enter all revenues that agree with the revenues recognized in the
institution's GPFS. This amount should include ARRA revenues received by the institution, if any.
17 – Net assets released from restriction – Enter all revenues resulting from the reclassification of temporarily
restricted assets or permanently restricted assets
18 – Net total revenues, after assets released from restriction – This calculated value is generated using this
formula:
D18 = D16 + D17
19 – 12-month Student FTE from E12 – This number for full-time equivalent (FTE) student enrollment is carried
over from the 12-month enrollment survey.
20 – Total revenues and investment return per Student FTE – This amount is generated by dividing line 16 by
line 19. This calculated value is used by the system to compare the data reported by the institution to the data of
institutions that are in the same sector (e.g., public/private, 4-year/2-year) to see if the calculated value is an
extreme value that is too high or low. While it is not anticipated that your institution would have the same overall
revenues, this comparison may be useful for ensuring that all appropriate revenues have been included in the finance
survey component, or excluded when appropriate.
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Part E – Expenses by Functional and Natural Classification
Part E is intended to report expenses by function. All expenses recognized in the GPFS should be reported using the
expense functions provided on lines 01–12. With the exception of the operation and maintenance of plant (line 11),
these functional categories are consistent with Chapter 5 (Accounting for Private Colleges and Universities) of the
NACUBO FARM. (FARM para. 504).
Institutions that do not have access to FARM can refer to Appendix B of the NACUBO Advisory Report 2010-1, Public
Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest Expenses to
Functional Expense Categories for more detailed information on the expense categories. Although this document was
written for public institutions, the expenditure definitions are applicable to private institutions also. The advisory is
available here.
The total for expenses on line 13 should agree with the total expenses reported in your GPFS including
interest expense and any other non-operating expense.
Do not include losses or other unusual or nonrecurring items in Part E. Operation and maintenance expenses are no
longer reported as a separate expense category. Instead these expenses are to be distributed among the other
functional expense categories.
Functional and Natural Expenses
Column 1, Total amount - Enter the total expense for each applicable functional category listed on lines 01–08. No
amount may be entered on line 11 for total operations and maintenance expenses. This line is provided to assist in the
allocation of operation and maintenance expenses. Total expenses, line 13, should agree with the total expenses
reported in your general purpose financial statements.
Column 2, Salaries and wages - This column describes the natural classification of salary and wage expenses
incurred in each functional category. For this classification, enter the amount of salary and wage expenses for the
function identified in lines 01-11 and 13.
Column 3, Benefits - Enter in this column the amount of benefits expenses incurred in each functional category
identified on lines 01-11 and 13.
Column 4, Operation and maintenance of plant - This column, in conjunction with Line 11, is used to show the
distribution of operation and maintenance of plant expenses to the various functions. Enter in this column the allocated
amount of operation and maintenance of plant expenses to each function listed on lines 01-08. The total operation and
maintenance of plant expenses should be entered as a negative amount on line 11 of this column, so that the net total
of the column as well as the net total of line 11 is zero. (FARM para. 703.14)
Column 5, Depreciation - Enter in this column the amount of depreciation allocated to each functional category
identified on lines 01-08 and 13. (FARM para. 703.15)
Column 6, Interest - Enter in this column the amount of interest incurred on debt allocated to each function
identified on lines 01-08 and 13. (FARM para. 703.16)
Column 7, All other - This column will be calculated by the survey program as the difference between the total
amount entered in column 1 and the sum of columns 2 through 6. Please check the calculated amount for accuracy to
determine that no keying errors have occurred.
Please refer to these specific instructions for more information about reporting expenses.
Expenses by Functional Classification
01 – Instruction – Enter the instruction expenses of the colleges, schools, departments, and other instructional
divisions of the institution and expenses for departmental research and public service that are not separately
budgeted. The instruction category includes general academic instruction, occupational and vocational instruction,
special session instruction, community education, preparatory and adult basic education, and remedial and tutorial
instruction conducted by the teaching faculty for the institution’s students. Include expenses for both credit and noncredit activities. Exclude expenses for academic administration if the primary function is administration (e.g., academic
deans). Such expenses should be entered on line 04. (FARM para. 703.4)
02 – Research – Enter the expenses for activities specifically organized to produce research outcomes and either
commissioned by an agency external to the institution or separately budgeted by an organizational unit within the
institution. The category includes institutes and research centers, and individual and project research. Do not report
nonresearch sponsored programs (e.g., training programs) on this line. Training programs generally are reported on
line 01 (Instruction). (FARM para. 703.5)
03 – Public service – Enter the expenses specifically for public service and for activities established primarily to
provide noninstructional services beneficial to groups external to the institution. Examples are seminars and projects
provided to the particular sectors of the community. Include expenses for community services, cooperative extension
services, and public broadcasting services. (FARM para. 703.6)
04 – Academic support – Enter the expenses for support services that are an integral part of the institution’s
primary mission of instruction, research, or public service and that are not charged directly to these primary programs.
Include expenses for libraries, museums, galleries, audio/visual services, academic development, academic computing
support, course and curriculum development, and academic administration. Include expenses for medical, veterinary
and dental clinics if their primary purpose is to support the institutional program, that is, they are not part of a
hospital. (FARM para. 703.7)
05 – Student services – Enter the expenses for admissions, registrar activities and activities whose primary purpose
is to contribute to students emotional and physical well-being and to their intellectual, cultural and social development
outside the context of the formal instructional program. Examples are career guidance, counseling, financial aid
administration, student records, athletics, and student health services, except when operated as a self-supporting
auxiliary enterprise. (FARM para. 703.8)
06 – Institutional support – Enter the expenses for the day-to-day operational support of the institution. Include
expenses for general administrative services, executive direction and planning, legal and fiscal operations,
administrative computing support, and public relations/development. (FARM para. 703.9)
08 – Net grant aid to students (net of tuition and fee allowances) - Enter on this line ONLY scholarships and
fellowships recognized as expenses in your GPFS. Do not include Federal Work Study expenses on this line. Work
study expenses should be reported within the function where the student worked. Whereas in the past, most student
awards were recorded as expenses under this classification, most student awards are now reported as either
scholarship allowances or agency transactions. Student awards, made from contributed funds or grant funds, that are
under the control of the institution (the institution decides who gets the award) result in allowances that reduce tuition
or auxiliary enterprise revenue. Student awards, made from grant funds, that are made to students identified by the
grantor are considered agency transactions and do not result in either revenues or expenses. Scholarships and
fellowships in the form of allowances applied to tuition and fees should be reported in Part C, line 09, and not included
in Part E, line 08. Scholarships and fellowships in the form of allowances applied to auxiliary services should be
reported in Part C, line 10, and not included in Part E, line 08. (FARM para. 703.10)
According to NACUBO Advisory Report 97-1 (January 17, 1997), scholarships and fellowships are "expenses to the
extent that the organization incurs incremental expense in providing goods and services." Thus payments made by the
institution to students or third parties in support of the total cost of education are expenses if those payments are
made for goods and services NOT provided by the institution. Examples include payments for services to third parties
(including students) for off-campus housing or for the cost of board not provided by institutional contract meal plans.
11 – Operation and maintenance of plant - This line, in conjunction with Column 4, is used to show the
distribution of operation and maintenance of plant expenses to the various functions. Enter all expenses for operations
established to provide service and maintenance related to campus grounds and facilities used for educational and
general purposes. Specific expenses include utilities, fire protection, property insurance, and similar items. Also
included are information technology expenses related to operation and maintenance of plant activities if the institution
separately budgets and expenses information technology resources (otherwise these expenses are included in
institutional support). FASB institutions do not report this function on their GPFS; instead these expenses are charged
to or allocated to other functions. In the column for operation and maintenance of plant (column 4), enter (as a
negative amount) on this line the total amount of operation and maintenance of plant expenses allocated to the other
functions. (FARM para. 703.14)
12 - Other expenses – This calculated value is generated using this formula:
E12 = E13 – (E01 + … + E11)
Because this is a generated number, data providers are advised to compare this amount with a corresponding amount
in the institution's GPFS. If these amounts differ materially, the data provider is advised to check the other amounts
provided on this screen for data entry errors.
13 – Total expenses – Enter all expenses that agree with the expenses recognized in the institution's GPF. Enter in
columns 1, 2, 3, 5, and 6 the total amount of each natural expense incurred by the institution. These amounts will be
used to compute the amounts in line 12, as well as line 13, column 7.
14 – 12-month Student FTE from E12 - This number for full-time equivalent (FTE) student enrollment is carried
over from the 12-month enrollment survey.
15 – Total expenses per Student FTE - This amount is generated by dividing line 13 by line 14. This calculated
value is used by the system to compare the data reported by the institution to the data of institutions that are in the
same sector (e.g., public/private, 4-year/2-year) to see if the calculated value is an extreme value that is too high or
low. While it is not anticipated that your institution would have the same overall expenses, this comparison may be
useful for ensuring that all appropriate expenses have been included in the finance survey component, or excluded
when appropriate.
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date: 8/4/2015
Glossary
Term
Definition
Academic support
A functional expense category that includes expenses of activities and services that support the institution's primary
missions of instruction, research, and public service. It includes the retention, preservation, and display of
educational materials (for example, libraries, museums, and galleries); organized activities that provide support
services to the academic functions of the institution (such as a demonstration school associated with a college of
education or veterinary and dental clinics if their primary purpose is to support the instructional program); media
such as audiovisual services; academic administration (including academic deans but not department chairpersons);
and formally organized and separately budgeted academic personnel development and course and curriculum
development expenses. Also included are information technology expenses related to academic support activities; if
an institution does not separately budget and expense information technology resources, the costs associated with
the three primary programs will be applied to this function and the remainder to institutional support. Institutions
include actual or allocated costs for operation and maintenance of plant, interest, and depreciation.
Allowances
That part of a scholarship or fellowship that is used to pay institutional charges such as tuition and fees or room and
board charges.
Audit opinion
An audit, performed by external (or outside) auditors, that usually consists of a one-page "opinion" letter on the
general-purpose financial statements. The "opinion" paragraph of the letter usually states that "In our opinion, the
financial statements present fairly, in all material respects, the financial position as of (date) and the results of
operations for the year then ended, in conformity with accounting standards generally accepted in the United States."
If the auditor cannot state completely the substance of the previous "opinion" sentence, then the auditor will add a
phrase such as "...except for..." and state the basis for the exception. When the auditor includes exceptions to the
opinion, the opinion is considered to be a "qualified opinion;" when no such exceptions are included, the opinion is
considered to be an "unqualified opinion."
Auxiliary enterprises
revenues
Revenues generated by or collected from the auxiliary enterprise operations of the institution that exist to furnish a
service to students, faculty, or staff, and that charge a fee that is directly related to, although not necessarily equal
to, the cost of the service. Auxiliary enterprises are managed as essentially self-supporting activities. Examples are
residence halls, food services, student health services, intercollegiate athletics, college unions, college stores, and
movie theaters.
Contributions from affiliated
entities
Revenues from non-consolidated affiliated entities, such as fund raising foundations, booster clubs, other
institutionally-related foundations, and similar organizations created to support the institution or organizational units
of the institution. General purpose financial statements for FASB institutions include a separate line for these
revenues; GASB institutions classify such revenues as gifts.
Depreciation
The allocation or distribution of the cost of capital assets, less any salvage value, to expenses over the estimated
useful life of the asset in a systematic and rational manner. Depreciation for the year is the amount of the allocation
or distribution for the year involved.
Discounts and allowances
That part of a scholarship or fellowship that is used to pay institutional charges such as tuition and fees or room and
board charges.
Federal grants
Transfers of money or property from the Federal government to the education institution without a requirement to
receive anything in return. These grants may take the form of grants to the institutions to undertake research or they
may be in the form of student financial aid. (Used for reporting on the Finance component)
Federal Work Study (FWS)
A part-time work program awarding on- or off-campus jobs to students who demonstrate financial need. FWS
positions are primarily funded by the government, but are also partially funded by the institution. FWS is awarded to
eligible students by the college as part of the student's financial aid package. The maximum FWS award is based on
the student's financial need, the number of hours the student is able to work, and the amount of FWS funding
available at the institution. This is a type of Title IV Aid, but is not considered grant aid to students.
Fringe benefits
Cash contributions in the form of supplementary or deferred compensation other than salary. Excludes the
employee's contribution. Employee fringe benefits include retirement plans, social security taxes, medical/dental
plans, guaranteed disability income protection plans, tuition plans, housing plans, unemployment compensation
plans, group life insurance plans, worker's compensation plans, and other benefits in-kind with cash options.
Government appropriations
(revenues)
Revenues received by an institution through acts of a legislative body, except grants and contracts. These funds are
for meeting current operating expenses and not for specific projects or programs. The most common example is a
state's general appropriation. Appropriations primarily to fund capital assets are classified as capital appropriations.
Grants and contracts
(revenues)
Revenues from governmental agencies and nongovernmental parties that are for specific research projects, other
types of programs , or for general institutional operations (if not government appropriations). Examples are research
projects, training programs, student financial assistance, and similar activities for which amounts are received or
expenses are reimbursable under the terms of a grant or contract, including amounts to cover both direct and
indirect expenses. Includes Pell Grants and reimbursement for costs of administering federal financial aid programs.
Grants and contracts should be classified to identify the governmental level - federal, state, or local - funding the
grant or contract to the institution; grants and contracts from other sources are classified as nongovernmental grants
and contracts. GASB institutions are required to classify in financial reports such grants and contracts as either
operating or nonoperating.
Institutional grants (funded)
(allowances)
Scholarships and fellowships awarded to students from institutional resources that are restricted to student aid.
Private institutions generally report these grants as allowances. If control over these resources passes to the student,
the amount is reported as an expense. (Used for reporting under FASB Standards.)
Institutional grants
(unfunded) (allowances)
Scholarships and fellowships awarded to students from unrestricted institutional resources. Private institutions
generally report these grants as allowances. If control over these resources passes to the student, the amount is
reported as an expense. (Used for reporting under FASB Standards.)
Institutional support
A functional expense category that includes expenses for the day-to-day operational support of the institution.
Includes expenses for general administrative services, central executive-level activities concerned with management
and long range planning, legal and fiscal operations, space management, employee personnel and records, logistical
services such as purchasing and printing, and public relations and development. Also includes information technology
expenses related to institutional support activities. If an institution does not separately budget and expense
information technology resources, the IT costs associated with student services and operation and maintenance of
plant will also be applied to this function.
Instruction
A functional expense category that includes expenses of the colleges, schools, departments, and other instructional
divisions of the institution and expenses for departmental research and public service that are not separately
budgeted. Includes general academic instruction, occupational and vocational instruction, community education,
preparatory and adult basic education, and regular, special, and extension sessions. Also includes expenses for both
credit and non-credit activities. Excludes expenses for academic administration where the primary function is
administration (e.g., academic deans). Information technology expenses related to instructional activities if the
institution separately budgets and expenses information technology resources are included (otherwise these
expenses are included in academic support). Institutions include actual or allocated costs for operation and
maintenance of plant, interest, and depreciation.
Integrated Postsecondary
Education Data System
(IPEDS)
The Integrated Postsecondary Education Data System (IPEDS), conducted by the NCES, began in 1986 and involves
annual institution-level data collections. All postsecondary institutions that have a Program Participation Agreement
with the Office of Postsecondary Education (OPE), U.S. Department of Education (throughout IPEDS referred to as
"Title IV") are required to report data using a web-based data collection system. IPEDS currently consists of the
following components: Institutional Characteristics (IC); 12-month Enrollment (E12);Completions (C); Admissions
(ADM); Student Financial Aid (SFA); Human Resources (HR) composed of Employees by Assigned Position, Fall Staff,
and Salaries; Fall Enrollment (EF); Graduation Rates (GR); Outcome Measures (OM); Finance (F); and Academic
Libraries (AL).
Interest
The price paid (or received) for the use of money over a period of time. Interest income is one component of
investment income. Interest paid by the institution is interest expense.
Investment return
Income from assets including dividends, interest earnings, royalties, rent, gains (losses) etc.
Local government grants and
contracts (revenues)
Revenues from local government agencies that are for training programs and similar activities for which amounts are
received or expenditures are reimbursable under the terms of a local government grant or contract. These
amounts can be treated as an allowance, an agency transaction, or as a student aid
expense in the institution's General Purpose Financial Statements (GPFS) and are
reported differently depending on their treatment. Generally, however, private
institutions report these grants as allowances when applied to the student's account and
as local grant revenues when received.
Net Assets
The excess of assets over liabilities or the residual interest in the institution's assets remaining after liabilities are
deducted. The change in net assets results from revenues, gains, expenses, and losses. FASB institutions classify net
assets into three categories: permanently restricted, temporarily restricted, and unrestricted. This term is similar to
the "Net position" term used by GASB instiutions.
Net grant aid to students
(expenses)
The portion of scholarships and fellowships granted by an institution that exceeds the amount applied to institutional
charges such as tuition and fees or room and board. The amount reported as expense excludes allowances.
Operation and maintenance
of plant
A functional expense category that includes expenses for operations established to provide service and maintenance
related to campus grounds and facilities used for educational and general purposes. Specific expenses include
utilities, fire protection, property insurance, and similar items. This function does include amounts charged to
auxiliary enterprises, hospitals, and independent operations. Also includes information technology expenses related
to operation and maintenance of plant activities if the institution separately budgets and expenses information
technology resources (otherwise these expenses are included in institutional support). Institutions may, as an option,
distribute depreciation expense to this function.
Other federal grants
Federal monies awarded to the institution under federal government student aid programs, such as the Federal
Supplemental Educational Opportunity Grants (FSEOG), DHHS training grants (aid portion only), the Leveraging
Education Assistance Partnership (LEAP) program, and other federal student aid programs. Pell grants are not
included in this classification. Note: if the federal government selects the student recipients and simply transmits the
funds to the institution for disbursement to the student, the amounts are not considered as revenues and
subsequently there are no discounts and allowances or scholarships and fellowships expenses. If the funds are made
available to the institution for selection of student recipients, then the amounts received are considered as
nonoperating revenues and subsequently as discounts and allowances or scholarships and fellowships expenses.
Pell Grant program
(Higher Education Act of 1965, Title IV, Part A, Subpart I, as amended.) Provides grant assistance to eligible
undergraduate postsecondary students with demonstrated financial need to help meet education expenses.
Private gifts (Revenues)
Revenues from private (non-governmental) entities including revenues received from gift or contribution
nonexchange transactions (including contributed services) except those from affiliated entities. Includes bequests,
promises to give (pledges), gifts from an affiliated organization or a component unit not blended or consolidated, and
income from funds held in irrevocable trusts or distributable at the direction of the trustees of the trusts. Includes
any contributed services recognized (recorded) by the institution.
Private gifts, grants and
contracts (revenues)
Revenues from private donors for which no legal consideration is involved and from private contracts for specific
goods and services provided to the funder as stipulation for receipt of the funds. Includes only those gifts, grants,
and contracts that are directly related to instruction, research, public service, or other institutional purposes. Includes
monies received as a result of gifts, grants, or contracts from a foreign government. Also includes the estimated
dollar amount of contributed services.
Private grants and contracts
(Revenues)
Revenues from private (non-governmental) entities that are for specific research projects, other types of programs,
or for general institutional operations (if not government appropriations). Examples are research projects, training
programs, and similar activities for which amounts are received or expenses are reimbursable under the terms of a
grant or contract, including amounts to cover both direct and indirect expenses.
Public service
A functional expense category that includes expenses for activities established primarily to provide noninstructional
services beneficial to individuals and groups external to the institution. Examples are conferences, institutes, general
advisory service, reference bureaus, and similar services provided to particular sectors of the community. This
function includes expenses for community services, cooperative extension services, and public broadcasting services.
Also includes information technology expenses related to the public service activities if the institution separately
budgets and expenses information technology resources (otherwise these expenses are included in academic
support). Institutions include actual or allocated costs for operation and maintenance of plant, interest, and
depreciation.
Research
A functional expense category that includes expenses for activities specifically organized to produce research
outcomes and commissioned by an agency either external to the institution or separately budgeted by an
organizational unit within the institution. The category includes institutes and research centers, and individual and
project research. This function does not include nonresearch sponsored programs (e.g., training programs). Also
included are information technology expenses related to research activities if the institution separately budgets and
expenses information technology resources (otherwise these expenses are included in academic support.) Institutions
include actual or allocated costs for operation and maintenance of plant, interest, and depreciation.
Salaries and wages
Amounts paid as compensation for services to all employees - faculty, staff, part-time, full-time, regular employees,
and student employees. This includes regular or periodic payment to a person for the regular or periodic performance
of work or a service and payment to a person for more sporadic performance of work or a service (overtime, extra
compensation, summer compensation, bonuses, sick or annual leave, etc.).
Sales and services of
educational activities
(revenues)
Revenues from the sales of goods or services that are incidental to the conduct of instruction, research or public
service. Examples include film rentals, sales of scientific and literary publications, testing services, university presses,
dairy products, machine shop products, data processing services, cosmetology services, and sales of handcrafts
prepared in classes.
Scholarships and fellowships
Outright grants-in-aid, trainee stipends, tuition and fee waivers, and prizes awarded to students by the institution,
including Pell grants. Awards to undergraduate students are most commonly referred to as "scholarships" and those
to graduate students as "fellowships." These awards do not require the performance of services while a student (such
as teaching) or subsequently as a result of the scholarship or fellowship. The term does not include loans to students
(subject to repayment), College Work-Study Program (CWS), or awards granted to a parent of a student because of
the parent's faculty or staff status. Also not included are awards to students where the selection of the student
recipient is not made by the institution.
State and local government
grants
State and local monies awarded to the institution under state and local student aid programs, including the state
portion of State Student Incentives Grants (SSIG). (Used for reporting Student Financial Aid data)
State grants (revenues)
A sum of money or property bestowed on a postsecondary institution by a state government.
Student services
A functional expense category that includes expenses for admissions, registrar activities, and activities whose
primary purpose is to contribute to students emotional and physical well-being and to their intellectual, cultural, and
social development outside the context of the formal instructional program. Examples include student activities,
cultural events, student newspapers, intramural athletics, student organizations, supplemental instruction outside the
normal administration, and student records. Intercollegiate athletics and student health services may also be
included except when operated as self-supporting auxiliary enterprises. Also may include information technology
expenses related to student service activities if the institution separately budgets and expenses information
technology resources(otherwise these expenses are included in institutional support.) Institutions include actual or
allocated costs for operation and maintenance of plant, interest, and depreciation.
Title IV institution
An institution that has a written agreement with the Secretary of Education that allows the institution to participate in
any of the Title IV federal student financial assistance programs (other than the State Student Incentive Grant
(SSIG) and the National Early Intervention Scholarship and Partnership (NEISP) programs).
Tuition and fees (published
charges)
The amount of tuition and required fees covering a full academic year most frequently charged to students. These
values represent what a typical student would be charged and may not be the same for all students at an institution.
If tuition is charged on a per-credit-hour basis, the average full-time credit hour load for an entire academic year is
used to estimate average tuition. Required fees include all fixed sum charges that are required of such a large
proportion of all students that the student who does not pay the charges is an exception.
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IPEDS Help Desk
(877) 225-2568 or [email protected]
NCES National Center for Education Statistics
2015-16 Survey Materials > FAQ
date: 8/4/2015
Finance
Click one of the following questions to view the answer.
General
1) Who is required to complete this survey?
2) Where do I get the data to fill out this survey?
3) My institution does not award degrees. Do we still need to complete the Finance component?
4) What period should the finance survey cover?
5) We haven’t been audited yet and won’t have an audited financial statement until May. Do I still have to fill this out?
6) What is combined ("parent/child") reporting and how does it work?
7) When does a system office need to report data?
8) Can a system office report combined data?
9) How do I know what reporting standards are used to prepare the financial statements?
10) The fiscal year for my institution changed. How do I report for the finance survey?
11) What is the difference between “business-type” activities and “governmental” activities?
12) My institution is part of a system and the system was audited as a unit, so we don’t have an opinion just on this school.
How do I answer the question about the audit opinion?
13) How are revenues per student FTE and expenses per student FTE calculated, and why were they added to the screens?
Public Institutions Using GASB Standards
1) Can public institutions report using FASB?
2) What happens if I respond incorrectly to the reporting standards screening question?
3) I see the term CV on several lines of the finance survey. What is this referring to?
4) Where did component units go?
5) How do I report deferred outflows and deferred inflows in Part A: Statement of Financial Position?
6) We do not capitalize our library. Do I report it on Part A page 2?
7) If my institution is a GASB-reporter, where should my institution report the gain or loss on the sale of a plant asset?
8) What are discounts and allowances (Part E)? (We don’t discount our tuition.)
9) What are operating versus nonoperating revenues?
10) We reported federal appropriations in operating revenues rather than non-operating revenues in our financial statements.
How should I report them on IPEDS?
11) My institution received funds from the American Recovery and Reinvestment Act (ARRA). Where should they be reported?
12) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
13) What are some examples of independent operations?
14) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
15) How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M), and interest
expenses to the other functional expense categories in Part C?
16) Why does operation and maintenance of plant appear as both a row and column in Part C (expenses and other
deductions)?
17) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An
expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
18) What are the impacts of GASB Statement 68 on IPEDS finance reporting? Are all institutions affected?
19) Parts JKL: Why can't institutions report negative numbers in the census data sections?
20) Part J: Where should ARRA grants be counted?
21) Part J: Should endowment funds held by component units be reported here?
Private Not-for-Profit and Public Institutions Using FASB
1) I see the term CV on several lines of the finance survey. What is this referring to?
2) What value do I use to report plant, property, and equipment on the second page of Part A?
3) What are allowances in Part C (Scholarships and Fellowships)?
4) What is the difference between funded and unfunded institutional grants as reported on the Scholarships and Fellowships
part of the survey?
5) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
6) My institution is primarily a hospital with a small instruction program. How should I report the hospital part of my
institution?
7) What are some examples of independent operations?
8) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
9) How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M), and interest
expenses to the other functional expense categories in Part C?
10) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?
11)
My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An
expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
Private for-profit institutions
1) I see the term CV on several lines of the finance survey. What is this referring to?
2) What income tax expenses should my institution report if I belong to both a multi-institution/multi-campus organization and
an IPEDS parent/child relationship?
3) What value do I use to report plant, property, and equipment on the second page of Part A?
4) What are allowances in Part C (Scholarship and Fellowships)?
5) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
6) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
7) The financial records of my institution do not break down expenses the way they are listed on Part E. How do I report
expenses for my institution?
8) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?
9) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An
expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
Answers:
General
1)
Who is required to complete this survey?
All Title IV postsecondary institutions are required to respond to the Finance survey. Institutions that have a Program
Participation Agreement (PPA) with the Department of Education are required to respond. HOWEVER, if your institution is a
branch campus of another institution and you SHARE a PPA, then you may make arrangements with the Help Desk to submit
one finance survey that covers all of your campuses. Because data provided for institutions are most useful if reported
individually, campuses are encouraged to report separately if possible, but reporting together is allowed if the campuses share a
PPA.
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2)
Where do I get the data to fill out this survey?
Each institution should have annual financial statements that are audited by an outside auditor. These financial statements are
referred to as general purpose financial statements (GPFS). The finance survey is designed to follow the format of the financial
statements suggested by the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board
(GASB). Some of the data necessary to complete the IPEDS Finance Survey may require institutions to adjust the amounts
reported in their GPFS; typically these adjustments pull in information included in the notes to the financial statements.
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3)
My institution does not award degrees. Do we still need to complete the Finance component?
Yes. However, the finance survey forms for non degree-granting institutions requires less information to be provided than for
degree-granting institutions.
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4)
What period should the finance survey cover?
The finance survey data should come from the last fiscal year that ended on or before October 31, 2015. For example, if your
institution’s fiscal year ends on June 30, it would come from the financial statements covering the year ending June 30, 2015. If
your institution’s fiscal year ends on December 31, your financial statements for the year ending December 31, 2014 would be
used.
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5)
We haven’t been audited yet and won’t have an audited financial statement until May. Do I still have to fill
this out?
YES, you must complete the finance component. Base your response on the information you have at this point. Answer the
audit question as “don’t know” and make a note in the context section that the financial statements have not yet been audited.
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6)
What is combined ("parent/child") reporting and how does it work?
Institutional keyholders MUST call the Help Desk before reporting combined data. A Help Desk representative will set up a
combined reporting situation for you. We call this a “parent/child” relationship. In this case, one institution reports data for the
entire unit, which includes the main campus (parent) and all branch campuses (children). All institutions in the combined report
MUST share the same Program Participation Agreement (PPA). Multiple institutions MUST NOT report identical combined data for
the same audit. Please refer to http://nces.ed.gov/ipeds/factsheets/fct_new_finance_2.asp for more information on parent/child
relationships.
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7)
When does a system office need to report data?
A system office needs to report data when reporting combined data or when it has its own separate budget. If a system office’s
budget is integrated into an institution such as a flagship university, it may be included in that institution’s finance survey.
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8)
Can a system office report combined data?
A system office may report combined data for institutions that are included it its system- wide audit if they are included in the
same PPA. For institutions that are not included in the same PPA, the system may report Part A data (Statement of Net Assets,
Statement of Financial Position, or Balance Sheet) for the institutions included in the system-wide audit, but each institution
must report its own revenues, expenses, and scholarships. A more detailed description may be found at
http://nces.ed.gov/ipeds/factsheets/fct_new_finance_2.asp. If a system will be reporting this way, they must contact the Help
Desk before reporting combined data.
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9)
How do I know what reporting standards are used to prepare the financial statements?
Ask your finance officer. This person should be aware of any changes in accounting standards. Typically, public institutions
report using GASB report standards whereas private institutions report using FASB standards.
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10) The fiscal year for my institution changed. How do I report for the finance survey?
A change in fiscal year usually creates a short fiscal year (from the previous fiscal year end date to the new fiscal year end
date). This short fiscal year should be covered by the finance survey. The next finance survey should cover a full fiscal year.
Also, indicate this change in fiscal year in the caveats box at the bottom of the first page of the survey.
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11) What is the difference between “business-type” activities and “governmental” activities?
These activity types refer to how the institution reports, or will report, its financial activities in their general purpose financial
statements (GPFS), as defined in GASB Statement 34. Governmental activities generally are financed through taxes,
intergovernmental revenues, and other nonexchange revenues. Business-type activities are financed in whole or in part by fees
charged to external parties for goods or services.
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12) My institution is part of a system and the system was audited as a unit, so we don’t have an opinion just on
this school. How do I answer the question about the audit opinion?
You should base your answer on the audit for the system since that audit includes your institution.
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13) How are revenues per student FTE and expenses per student FTE calculated, and why were they added to the
screens?
The calculation of these values takes the amounts reported for revenues and expenditures from the finance survey form and
divides those amounts by the 12 month FTE student enrollment from the 12 month enrollment survey that was completed in
the fall data collection. These calculated values are used by the system to compare the data reported by the institution to the
data of institutions that are in the same sector (e.g., public/private, 4-year/2-year) to see if the calculated value is an extreme
value that is too high or low. While it is not anticipated that your institution would have the same overall revenue or expenses,
this comparison may be useful for ensuring that all appropriate amounts have been included in the finance survey component,
or excluded when appropriate.
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Public Institutions Using GASB Standards
1)
Can public institutions report using FASB?
Yes, but only in very rare instances. Your finance/business officer will know which version of the finance component should be
completed.
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2)
What happens if I respond incorrectly to the reporting standards screening question?
You will get the wrong finance forms. If you find you have responded incorrectly, go back to the screening question and change
your response. When you save the screen the old data will disappear and the new correct forms will be available.
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3)
I see the term CV on several lines of the finance survey. What is this referring to?
CV is an abbreviation for Calculated Value. You do not need to enter an amount on this line. Once you click on Verify and Save,
the system will calculate the amount based on other data you have entered. A formula may be found in the same block where
you find the abbreviation CV.
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4)
Where did component units go?
Separate reporting was eliminated when institutions moved to the new aligned reporting that was mandatory starting in 201011. Because the reporting of component units is unique to institutions using GASB standards (mostly used by public institutions)
and not required by those using FASB standards (mostly private institutions), alignment would be better achieved if these units
were not included. However, component unit information should still be included when reporting endowment assets in Part H.
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5)
How do I report deferred outflows and deferred inflows in Part A: Statement of Financial Position?
In order to comply with GASB Statement 63, deferred outflows and deferred inflows will need to be reported in Part A:
Statement of Financial Position. Deferred outflows of resources should be included in Line 01 " Total Current Assets" and
deferred inflows of resources should be included in Line 09 "Total Current Liabilities." This will cause the total assets to equal
total assets plus deferred outflows of resources and total liabilities to equal total liabilities plus deferred inflows of resources.
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6)
We do not capitalize our library. Do I report it on Part A page 2?
If you do not capitalize it, do not report it in property, plant, and equipment.
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7)
If my institution is a GASB-reporter, where should my institution report the gain or loss on the sale of a plant
asset?
Such components in the changes in the net assets of the institution should be reflected in Line 05 in Part D - Summary of
Changes in Net Assets. Although this line is a calculated value that is entitled, Adjustments to beginning net assets, this is the
most appropriate place for these values to be captured (instead of as Other revenue or Other expenses in Part B or C). Although
this type of transaction is NOT an adjustment to beginning net assets, this is the best place for it to be captured in the IPEDS
finance component for comparability with FASB-reporters. Additionally, institutions having such type of transactions should
explain that in the context box available in Part D.
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8)
What are discounts and allowances (Part E)? (We don’t discount our tuition.)
Discounts and allowances are simply the part of scholarships used to pay institutional charges such as tuition and fees or room
and board. The difference between total scholarships (reported in the top part of Part E) and net scholarships expenses
(reported on Part C) is total discounts and allowances.
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9)
What are operating versus nonoperating revenues?
Operating revenues are received in exchange for goods or services provided, such as sales or tuition. The payer must also be
the one who receives the services. Nonoperating revenues result from “nonexchange transactions” such as donations, state
appropriations, tax revenues, and certain grants.
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10) We reported federal appropriations in operating revenues rather than non-operating revenues in our financial
statements. How should I report them on IPEDS?
Federal appropriations are usually accounted for as non-operating revenues, similarly to state appropriations. Amounts reported
as federal appropriations are intended to meet current operating expenses, and not generally intended for a specific purpose as
operating revenues are. If, however, the institution included the revenue in operating revenue, report it there for purposes of
IPEDS as well.
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11) My institution received funds from the American Recovery and Reinvestment Act (ARRA). Where should they
be reported?
GASB-reporting institutions should report ARRA revenues into the total included in Part B, line 19 (Total nonoperating
revenues).
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12) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
No, these VA education benefits should not be included as “federal grant” in the Finance revenue section or as “other federal
student grant aid” in the scholarship/fellowship section. They should be reported as "tuition and fees" revenue received from the
student. VA education benefits should also not be included as discounts/allowances.
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13) What are some examples of independent operations?
Independent operations include federally funded labs such as Argonne at the University of Chicago, the Livermore Labs in the
UC system, and the Jet Propulsion Lab at Cal Tech. These are major ancillary operations that are related to the primary
missions of instruction, research, and public service but they are so significant as to warrant separate classification.
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14) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
This amount is a calculated value. It is derived by subtracting the sum of the detail items above this amount from the total
below it. Negative amounts in these fields are caused when the total entered is less that the sum of the detail items entered.
Check for keying errors and recheck totals. Nonoperating expenses, such as interest on debt, should be reported on Part C.
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15) How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M),
and interest expenses to the other functional expense categories in Part C?
The National Association of College and University Business Officers (NACUBO) has prepared an advisory report (AR 2010-1),
entitled, Public Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest
Expenses to Functional Expense Categories http://www.nacubo.org/Documents/BusinessPolicyAreas/AR_2010_1.pdf to assist
public institutions in developing an approach to allocating these expenses among the functional expense categories. The
Advisory Report steps through a cost allocation approach. Because independent institutions have been allocating such costs for
more than a decade, the Report focuses on methods currently used by independent institutions.
Operation and maintenance expenses should still also be reported in their applicable natural categories, including salaries,
employee benefits, interest, depreciation, and all other expenses. The operations and maintenance column of the operations
and maintenance row must be the negative amount of total operations and maintenance.
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16) Why does operation and maintenance of plant appear as both a row and column in Part C (expenses and other
deductions)?
In the new aligned form for GASB institutions, operation and maintenance of plant appear as both a row and column in Part C
(expenses and other deductions). The row and column are designed to be used to show how the institution distributes operation
and maintenance (O&M) of plant expenses. The total row and column have zeroes for O&M. Consequently, the cell where the
O&M column and row intersect should be a negative number equal to the total O&M expenses of the institution.
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17) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce
costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
The $5 million dollars in expense should be reported in the Total amount of the Employee fringe benefits or Benefits (rather
than being allocated across the other functions such as Instruction, Research, or Institutional support). By doing so, the $5
million dollar expense will appear as an Other expenses & deductions within the benefits column. The consequence of this
reporting is that the one-time early retirement buyout will not affect the historical nature of total or benefits costs by function.
An explanation may also be added to the context box to explain this early retirement buyout. The Financial Accounting and
Reporting Manual (FARM) from the National Association of College and University Business Officers offers little guidance on this
topic. However, the FARM contains useful language from GASB (Statement 47) and FASB (Concept Statement 2) indicating that
such expenses should be treated as benefits: “In financial statements based on accrual accounting, employers should recognize
a liability and expense for voluntary termination benefits (for example, early-retirement incentives) when the offer has been
accepted and the amount can be estimated.”
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18) What are the impacts of GASB Statement 68 on IPEDS finance reporting? Are all institutions affected?
GASB Statement 68 will likely impact liabilities, expenses, resource deferrals, and ultimately net position for public institutions
or higher education systems that participate in their state’s defined benefit plan (agent or cost sharing), or have their own plan.
These institutions are advised:
•
In Part C, to allocate the unfunded pension and related expenses across the functional categories in column 3
(e.g., instruction, research, etc.), as reported on their GPFS.
Note that if a public institution does not have a defined benefit plan, there is no GASB 68 impact. Similarly, if a public institution
is part of a higher education system and the system reflects the additional unfunded pension expense and liability (and does not
allocate the expense and liability to the individual institutions), then there is also no impact from Statement 68 for the individual
public institution. Institutions with branch campuses that are not required to allocate pension expense and liabilities to each
campus will also not be impacted by GASB 68.
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19) Parts JKL: Why can't institutions report negative numbers in the census data sections?
Negative numbers would either belong on the opposite section, (e.g., a negative expenditure should be counted as a revenue),
or not reported if there were no cash exchange.
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20) Part J: Where should ARRA grants be counted?
Report ARRA grants under Part J, Line 03 (Federal Grants and Contracts).
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21) Part J: Should endowment funds held by component units be reported here?
While endowment funds held by component units are included with Part H, they should be excluded in Part J. Census
instructions state to "Exclude gifts to component units."
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Private Not-for-Profit and Public Institutions Using FASB
1)
I see the term CV on several lines of the finance survey. What is this referring to?
CV is an abbreviation for Calculated Value. You do not need to enter an amount on this line. Once you click on Verify and Save,
the system will calculate the amount based on other data you have entered. A formula may be found in the same block where
you find the abbreviation CV.
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2)
What value do I use to report plant, property, and equipment on the second page of Part A?
This is the book value (or the value reported in the accounting records) of these assets without consideration for accumulated
depreciation. This amount should be reported in the notes to the financial statements, or may be supplied by the
business/finance officer of the institution.
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3)
What are allowances in Part C (Scholarships and Fellowships)?
Allowances are the portion of scholarships awarded to students that are used to pay institutional charges such as tuition and
fees or room and board.
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4)
What is the difference between funded and unfunded institutional grants as reported on the Scholarships and
Fellowships part of the survey?
Funded grants are institutional resources restricted for student aid, such as scholarships and fellowships. They have been
restricted by an outside source such as a donor or contract. Unfunded institutional grants are those that are awarded to
students from unrestricted institutional resources.
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5)
Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
No, these VA education benefits should not be included as “federal grant” in the Finance revenue section or as “other federal
student grant aid” in the scholarship/fellowship section. They should be reported as "tuition and fees" revenue received from the
student. VA education benefits should also not be included as discounts/allowances.
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6)
My institution is primarily a hospital with a small instruction program. How should I report the hospital part
of my institution?
Hospitals with a small nursing school or radiologic technology program should report activity for the instructional program only.
The hospital revenues and expenses should not be included. If the instructional program revenues and expenses cannot be
separated from the hospital, contact the Help Desk for further options for reporting.
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7)
What are some examples of independent operations?
Independent operations include federally funded labs such as Argonne at the University of Chicago, the Livermore Labs in the
University of California system, and the Jet Propulsion Lab at Cal Tech. These are major ancillary operations that are related to
the primary missions of instruction, research, and public service but they are so significant as to warrant separate classification.
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8)
I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
This amount is a calculated value. It is derived by subtracting the sum of the detail items above this amount from the total
below it. Negative amounts in these fields are caused when the total entered is less that the sum of the detail items entered.
Check for keying errors and recheck totals.
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9)
How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M),
and interest expenses to the other functional expense categories in Part C?
The National Association of College and University Business Officers (NACUBO) has prepared an advisory report (AR 2010-1),
entitled, Public Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest
Expenses to Functional Expense Categories http://www.nacubo.org/Documents/BusinessPolicyAreas/AR_2010_1.pdf to assist
public institutions in developing an approach to allocating these expenses among the functional expense categories. The
Advisory Report steps through a cost allocation approach. Because independent institutions have been allocating such costs for
more than a decade, the Report focuses on methods currently used by independent institutions.
Operation and maintenance expenses should still also be reported in their applicable natural categories, including salaries,
employee benefits, interest, depreciation, and all other expenses. The operations and maintenance column of the operations
and maintenance row must be the negative amount of total operations and maintenance.
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10) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?
The row and column are designed to be used to show how the institution distributes operation and maintenance (O&M) of plant
expenses. Since not- for-profit accounting does not recognize O&M as a function, the total row and column have zeroes for
O&M. Consequently, the cell where the O&M column and row intersect should be a negative number equal to the total O&M
expenses of the institution.
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11) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce
costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
The $5 million dollars in expense should be reported in the Total amount of the Employee fringe benefits or Benefits (rather
than being allocated across the other functions such as Instruction, Research, or Institutional support). By doing so, the $5
million dollar expense will appear as an Other expenses & deductions within the benefits column. The consequence of this
reporting is that the one-time early retirement buyout will not affect the historical nature of total or benefits costs by function.
An explanation may also be added to the context box to explain this early retirement buyout. The Financial Accounting and
Reporting Manual (FARM) from the National Association of College and University Business Officers offers little guidance on this
topic. However, the FARM contains useful language from GASB (Statement 47) and FASB (Concept Statement 2) indicating that
such expenses should be treated as benefits: “In financial statements based on accrual accounting, employers should recognize
a liability and expense for voluntary termination benefits (for example, early-retirement incentives) when the offer has been
accepted and the amount can be estimated.”
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Private for-profit institutions
1) I see the term CV on several lines of the finance survey. What is this referring to?
CV is an abbreviation for Calculated Value. You do not need to enter an amount on this line. Once you click on Verify and Save,
the system will calculate the amount based on other data you have entered. A formula may be found in the same block where
you find the abbreviation CV.
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2) What income tax expenses should my institution report if I belong to both a multi-institution/multi-campus
organization and an IPEDS parent/child relationship?
If the institution can report combined tax expenses for itself and child institutions, it is encouraged to do so. However, if the
institution cannot dis-aggregate tax expenses for itself and child institutions to report, it may report the aggregate amount paid
by the multi-institution/multi-campus organization.
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3) What value do I use to report plant, property, and equipment on the second page of Part A?
This is the book value (or the value reported in the accounting records) of these assets without consideration for accumulated
depreciation. This amount should be reported in the notes to the financial statements, or may be supplied by the
business/finance officer of the institution.
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4) What are allowances in Part C (Scholarship and Fellowships)?
Allowances are the portion of scholarships awarded to students that are used to pay institutional charges such as tuition and
fees or room and board.
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5) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
No, these VA education benefits should not be included as “federal grant” in the Finance revenue section or as “other federal
student grant aid” in the scholarship/fellowship section. They should be reported as "tuition and fees" revenue received from the
student. VA education benefits should also not be included as discounts/allowances.
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6) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
This amount is a calculated value. It is derived by subtracting the sum of the detail items above this amount from the total
below it. Negative amounts in these fields are caused when the total entered is less that the sum of the detail items entered.
Check for keying errors and recheck totals.
Back to top
7) The financial records of my institution do not break down expenses the way they are listed on Part E. How do I
report expenses for my institution?
The National Association of College and University Business Officers (NACUBO) has prepared an advisory report (AR 2010-1),
entitled, Public Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest
Expenses to Functional Expense Categories http://www.nacubo.org/Documents/BusinessPolicyAreas/AR_2010_1.pdf to assist
public institutions in developing an approach to allocating these expenses among the functional expense categories. The
Advisory Report steps through a cost allocation approach. Because independent institutions have been allocating such costs for
more than a decade, the Report focuses on methods currently used by independent institutions.
Operation and maintenance expenses should still also be reported in their applicable natural categories,
including salaries, employee benefits, interest, depreciation, and all other expenses. The operations and
maintenance column of the operations and maintenance row must be the negative amount of total
operations and maintenance. If you need further assistance classifying your expenses, please call the Help Desk.
Back to top
8) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?
The row and column are designed to be used to show how the institution distributes operation and maintenance (O&M) of plant
expenses. Since not- for-profit accounting does not recognize O&M as a function, the total row and column have zeroes for
O&M. Consequently, the cell where the O&M column and row intersect should be a negative number equal to the total O&M
expenses of the institution.
Back to top
9) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce
costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
The $5 million dollars in expense should be reported in the Total amount of the Employee fringe benefits or Benefits (rather
than being allocated across the other functions such as Instruction, Research, or Institutional support). By doing so, the $5
million dollar expense will appear as an Other expenses & deductions within the benefits column. The consequence of this
reporting is that the one-time early retirement buyout will not affect the historical nature of total or benefits costs by function.
An explanation may also be added to the context box to explain this early retirement buyout. The Financial Accounting and
Reporting Manual (FARM) from the National Association of College and University Business Officers offers little guidance on this
topic. However, the FARM contains useful language from GASB (Statement 47) and FASB (Concept Statement 2) indicating that
such expenses should be treated as benefits: “In financial statements based on accrual accounting, employers should recognize
a liability and expense for voluntary termination benefits (for example, early-retirement incentives) when the offer has been
accepted and the amount can be estimated.”
Back to top
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NCES National Center for Education Statistics
2015-16 Survey Materials > Narrative Edits
date: 8/4/2015
Finance for Non-degree-granting, Public and Private not-for-profit institutions using FASB
Reporting Standards
Edit specifications for the 2015-16 IPEDS Web-Based Data Collection
Finance Component
Applicable to Non-degree-granting, Private not-for-profit and Public institutions using FASB reporting
standards that are NOT 'full children'
Note: The specifications in this document apply to the institutions listed above and related administrative offices.
Some sections and parts may not apply to your particular institution. Please read the specifications carefully to
determine which sections and/or parts apply to your institution.
All screens must be completed in order to lock the survey.
Screening Questions
Part C: Scholarships and Fellowships
Part D: Revenues and Investment Return
Part E: Expenses by Functional and Natural Classification
Please note that in the Finance survey component, administrative offices that are full parents must
complete screens based on the level of their full child institution.
Screening Questions
Reporting Method
Applicable to public institutions
To begin this survey, you must indicate which reporting standards your institution uses to prepare its financial statements.
Your options include the following:
•
•
GASB (Governmental Accounting Standards Board), using standards of GASB 34 & 35
FASB (Financial Accounting Standards Board)
Note: If you select GASB for the question above, then you are not referencing the correct narrative edit document. Please
refer to the document for public institutions using GASB Reporting Standards.
General Information
On this screen, you must provide the following information. The answers given here will determine which screens your
institution is shown throughout the remainder of this survey.
•
•
•
•
Enter the Beginning date for your institution’s Fiscal Year Calendar by month (MM) and year (YYYY). The date
reported should be for the most recent fiscal year ending before October 1, 2015.
Enter the Ending date for your institution’s Fiscal Year Calendar by month (MM) and year (YYYY). The date reported
should be for the most recent fiscal year ending before October 1, 2015.
Indicate the type of audit opinion your institution received on its General Purpose Financial Statements for the fiscal
year specified above. You may choose from the following options:
◦ Unqualified
◦ Qualified (If this option is selected, then you must explain the nature of the qualification in the context box at
the bottom of the screen.)
◦ Don’t know (If this option is selected, then you must provide an explanation in the context box at the bottom
of the screen.)
Does your institution account for Pell grants as pass through transactions (a simple payment on the student’s account)
or as federal grant revenues to the institution? You may choose from the following options:
◦ Pass through (agency)
◦ Federal grants
◦ Does not award Pell grants
The system will perform the following edits on the data entered:
•
•
The Month entered for the Beginning date of the fiscal year should be between 1 and 12.
The Month entered for the Ending date of the fiscal year should be between 1 and 12.
•
•
•
•
•
The Year entered for the Beginning date of the fiscal year should be either 2013 or 2014.
The Year entered for the Ending date of the fiscal year should be either 2014 or 2015.
The fiscal year Beginning date cannot be earlier than October 2013.
The fiscal year Ending date cannot be later than October 2015.
The fiscal year Ending date must be between 1 and 12 months later than the reported fiscal year Beginning date.
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Part C: Scholarships and Fellowships
On this screen, you must report details about your institution’s scholarship and fellowship expenses for the most recent 12month fiscal year.
Enter the Current year amount for each of the following:
•
•
•
•
•
•
•
•
Pell grants, federal (line 01)
Other federal grants (line 02)
State grants (line 03)
Local grants, government (line 04)
Institutional grants, funded (line 05)
Institutional grants, unfunded (line 06)
Allowances (scholarships) applied to tuition and fees (line 08)
Allowances (scholarships) applied to auxiliary enterprise revenues (line 09)
Upon saving the screen, the system uses the above values to calculate additional information which may be used throughout
this survey. Prior year amounts are displayed for your reference.
The system will perform the following edits on the data entered:
•
•
•
•
•
•
•
•
•
•
If Federal grant revenue was selected for Question 5 on the General Information screen, then the value reported
for Pell grants (line 01) is expected to be greater than 0.
The value reported for Pell grants is expected to be within a 50% range of the corresponding Prior year amount.
A value must be entered for Institutional grants, funded (line 05).
The calculated value for Total scholarships and fellowships (line 07) is expected to be greater than 0.
If the Prior year amount of Total scholarships and fellowships is greater than 0, then the current year value
may NOT be equal to that amount.
The calculated value for Total scholarships and fellowships is expected to be within a 50% range of the
corresponding Prior year amount.
If the calculated value for Total scholarships and fellowships (line 07) is greater than 0, then the value reported
for Allowances (scholarships) applied to tuition and fees (line 08) is also expected to be greater than 0.
The value reported for Allowances (scholarships) applied to tuition and fees (line 08) must be less than or equal
to the calculated value for Total scholarships and fellowships (line 07).
The calculated value for Total scholarships and fellowships (line 07) must be greater than or equal to the sum of
Allowances (scholarships) applied to tuition and fees (line 08) and Allowances (scholarships) applied to
auxiliary enterprise revenues (line 09).
If Pass through (agency) was selected for Question 3 on the General Information screen, then the sum of
Allowances applied to tuition and fees (line 08) and Allowances applied to auxiliary enterprise revenues
(line 09) must be less than or equal to the amount of Total scholarships and fellowships (line 07) minus the
amount reported for Pell grants (line 01).
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Part D: Revenues and Investment Return
For Part D, you must report your institution’s revenues by source for the most recent 12-month fiscal year.
Applicable to all non-administrative offices, and administrative offices that are full parents
For each applicable restriction type (Unrestricted, Temporarily restricted and Permanently restricted), enter the
amount of revenues received from each of the following sources of funding:
•
•
•
•
•
•
•
•
•
•
•
•
Tuition and fees (line 01)
Federal appropriations (line 02)
State appropriations (line 03)
Local appropriations (line 04)
Federal grants and contracts (line 05)
State grants and contracts (line 06)
Local government grants and contracts (line 07)
Private gifts (line 08a)
Private grants and contracts (line 08b)
Contributions from affiliated entities (line 09)
Investment return (line 10)
Sales and services of educational activities (line 11)
•
•
Total revenues and investment return (line 16)
Net assets released from restriction (line 17)
You must also report a Total Amount for Total revenues and investment return (line 16).
Upon saving the screen, the system will use the above values to calculate a Total Amount for each source of funding, as well
as the amount of Other revenue (line 15) received by restriction type. The Prior Year Total Amount for each source of
funding is displayed for your reference.
Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 19). This value
is used in combination with the reported data to calculate the Total revenues and investment return per student FTE
(line 20).
The system will perform the following edits on the data entered:
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
The value reported for Tuition and fees (line 01) is expected to be greater than 0.
The value reported for Tuition and fees is expected to be within a 50% range of the corresponding Prior Year Total
Amount.
For Federal grants and contracts (line 05), a value must be entered for each restriction type.
The Total Amount calculated for Private gifts (line 08a) cannot be negative.
For Private gifts, a value must be entered for each restriction type.
The Total Amount calculated for Private grants and contracts (line 08b) cannot be negative.
For Private grants and contracts, a value must be entered for each restriction type.
The Total Amount calculated for Investment Return (line 10) cannot be negative.
The Total Amount calculated for Other Revenue (line 15) cannot be negative.
The Total Amount calculated for Other Revenue (line 15) is expected to be less than or equal to 75% of the Total
Amount reported for Total revenues and investment return (line 16).
For Other revenue (line 15), the value reported for each restriction type is not expected to be negative.
If your institution is a partial child or partial parent, then the Total Amount reported for Total revenues and
investment return (line 16) must be greater than 0.
If your institution is a partial child or partial parent, then the value reported for Total revenues and investment
return is expected to be within a 30% range of the corresponding Prior year amount.
If your institution is a partial child or partial parent, and the Total amount reported for the Prior year total amount
is greater than 0, then the Total Amount reported for Total revenues and investment return (line 16) may NOT
be equal to that amount.
The Total Amount reported for Total revenues and investment return (line 16) must be equal to the sum of the
values reported on this line for each restriction type.
The Permanently restricted revenue value reported for Net assets released from restriction (line 17) must be
equal to 0.
If your institution is a 2-year institution, and a value greater than 0 is preloaded for 12-month student FTE from
E12 (line 19), then the value calculated for Total revenues and investment return per student FTE (line 20) is
expected to be between 1,000 and 65,000. If the value is greater than 80,000, then a fatal error will occur.
If your institution is a less-than-2-year institution, and a value greater than 0 is preloaded for 12-month student
FTE from E12 (line 19), then the value calculated for Total revenues and investment return per student FTE
(line 20) is expected to be between 2,000 and 60,000. If the value is greater than 75,000, then a fatal error will
occur.
The following edit will compare the data entered on this screen to other parts of the Finance component:
•
If Federal grant revenue was selected for Question 5 on the General Information screen, and the value reported
for Pell grants in Part C of this survey is greater than 0, then the value reported for Federal grants and contracts
(line 05) on this screen is expected to be greater than or equal to that amount.
Applicable to administrative offices that are not full parents
For each applicable restriction type (Unrestricted, Temporarily restricted and Permanently restricted), enter the
amount of revenues received from each of the following sources of funding:
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Tuition and fees (line 01)
Federal appropriations (line 02)
State appropriations (line 03)
Local appropriations (line 04)
Federal grants and contracts (line 05)
State grants and contracts (line 06)
Local government grants and contracts (line 07)
Private gifts (line 08a)
Private grants and contracts (line 08b)
Contributions from affiliated entities (line 09)
Investment return (line 10)
Sales and services of educational activities (line 11)
Sales and services of auxiliary enterprises (line 12)
Total revenues and investment return (line 16)
•
Net assets released from restriction (line 17)
If your institution is a partial child or partial parent, then you must also report a Total Amount for Total revenues and
investment return (line 16). Otherwise, this information is preloaded from Part B of this survey.
Upon saving the screen, the system will use the above values to calculate a Total Amount for each source of funding, as well
as the amount of Other revenue (line 15) received by restriction type. The Prior Year Total Amount for each source of
funding is displayed for your reference.
Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 19). This value
is used in combination with the reported data to calculate the Total revenues and investment return per student FTE
(line 20).
The system will perform the following edits on the data entered:
•
•
•
•
•
•
•
•
•
•
•
•
•
•
The value reported for Tuition and fees is expected to be within a 50% range of the corresponding Prior Year Total
Amount.
For Federal grants and contracts (line 05), a value must be entered for each restriction type.
The Total Amount calculated for Private gifts (line 08a) cannot be negative.
For Private gifts, a value must be entered for each restriction type.
The Total Amount calculated for Private grants and contracts (line 08b) cannot be negative.
For Private grants and contracts, a value must be entered for each restriction type.
The Total Amount calculated for Investment Return (line 10) cannot be negative.
The Total Amount calculated for Other Revenue (line 15) cannot be negative.
The Total Amount calculated for Other Revenue (line 15) is expected to be less than or equal to 75% of the Total
Amount reported for Total revenues and investment return (line 16).
For Other revenue (line 15), the value reported for each restriction type is not expected to be negative.
If your institution is a partial child or partial parent, then the Total Amount reported for Total revenues and
investment return (line 16) must be greater than 0.
If your institution is a partial child or partial parent, then the value reported for Total revenues and investment
return is expected to be within a 30% range of the corresponding Prior year amount.
The Total Amount reported for Total revenues and investment return (line 16) must be equal to the sum of the
values reported on this line for each restriction type.
The Permanently restricted revenue value reported for Net assets released from restriction (line 17) must be
equal to 0.
The following edits will compare the data entered on this screen to other parts of the Finance component:
•
•
•
If Federal grant revenue was selected for Question 5 on the General Information screen, and the value reported
for Pell grants in Part C of this survey is greater than 0, then the value reported for Federal grants and contracts
(line 05) on this screen is expected to be greater than or equal to that amount.
If the value reported for Allowances applied to auxiliary enterprise revenues in Part C of this survey is greater
than 0, then the value reported for Sales and services of auxiliary enterprises (line 12) on this screen is expected
to be greater than 0.
If your institution is a partial child or partial parent, and a value greater than 0 is reported for Total revenues and
investment return in Part B, then the value reported for Total revenues and investment return in Part B of this
survey must be greater than the value reported for Total revenues and investment return (line 16) on this screen.
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Part E: Expenses by Functional and Natural Classification
For Part E, you must report your institution’s expenses by function for the most recent 12-month fiscal year.
Applicable to all non-administrative offices, and administrative offices that are full parents
For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,
Depreciation, and Interest), enter the amount of operating and non-operating expenses incurred in each of the following
functional categories:
•
•
•
•
•
•
•
•
Instruction (line 01)
Research (line 02)
Public service (line 03)
Academic support (line 04)
Student services (line 05)
Institutional support (line 06)
Net grant aid to students (line 08)
Operation and maintenance of plant (line 11)
You must also report a Total Amount for Total expenses (line 13).
Upon saving the screen, the system will use the above values to calculate the amount of All other expenses (column 7)
within each functional category, and the amount of Other expenses (line 12) incurred by expense type. For your reference,
the PY Total Amount for each functional category is also displayed, along with the Prior year total expenses by expense
type.
Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 14). This value
is used in combination with the reported data to calculate the Total expenses per student FTE (line 15).
The system will perform the following edits on the data entered:
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
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•
•
For each functional category, the values reported for each expense type must be less than or equal to the Total
amount (column 1) reported for that category.
For each expense type and functional category, the value reported cannot be negative; with the following exception:
◦ The Operation and maintenance of plant expense type (column 4) in the Operation and maintenance of
plant category (line 11).
A Total Amount (column 1) must be entered for Instruction (line 01).
The Total amount (column 1) reported for Instruction (line 01) is expected to be greater than 0.
The Total Amount reported for Instruction (line 01) is expected to be within a 50% range of the corresponding PY
Total Amount (column 8).
The Total Amount reported for Research (line 02) is expected to be within a 50% range of the corresponding PY
Total Amount (column 8).
The Total Amount reported for Public service (line 03) is expected to be within a 50% range of the corresponding
PY Total Amount (column 8).
A Total Amount (column 1) must be entered for Academic support (line 04).
The Total Amount reported for Academic support (line 04) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
A Total Amount (column 1) must be entered for Student Services (line 05).
The Total Amount reported for Student Services (line 05) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
A Total Amount (column 1) must be entered for Institutional support (line 06).
The Total Amount reported for Institutional support (line 06) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount reported for Net grant aid to students (line 08) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount (column 1) calculated for Other expenses (line 12) is expected to be less than or equal to 75%
of the Total amount (column 1) reported for Total expenses (line 13).
If your institution is a partial child or partial parent, then the Total amount (column 1) reported for Total expenses
(line 13) must be greater than 0.
If your institution is a partial child or partial parent, and the Total amount of Prior year total expenses is greater
than 0, then the Total Amount (column 1) reported for Total expenses (line 13) may NOT be equal to that amount.
If your institution is a partial child or partial parent, then the Total amount (column 1) reported for Total expenses
(line 13) is expected to be within a 30% range of the corresponding Prior Year total expenses.
For each expense type, the value reported for Total expenses (line 13) is expected to be within a 50% range of the
corresponding Prior year total expenses.
The Salaries and wages (column 2) reported for Instruction (line 01) is expected to be greater than 0.
A Salaries and wages value (column 2) must be entered for the following expense types:
◦ Instruction (line 01)
◦ Academic support (line 04)
◦ Student services (line 05)
◦ Institutional support (line 06)
The Salaries and wages (column 2) reported for Total expenses (line 13) must be greater than 0.
If the value reported for the Operation and maintenance of plant expense type (column 4) in the Operation and
maintenance of plant category (line 11) is less than -1 million, then the amount reported for Instruction (line 01)
in column 4 must be within a range of -10% to -70% of the absolute value of that amount.
If a value greater than 0 is reported on any line for the Operation and maintenance of plant expense type (column
4), then the value reported for the Operation and maintenance of plant expense type (column 4) in the
Operation and maintenance of plant category (line 11) on this screen must be negative.
If the Total expenses (line 13) reported for Depreciation (column 5) is greater than 1 million, then the amount
allocated to Instruction (line 01) must be between 10% and 70% of the total amount.
If the Total expenses reported for Depreciation (column 5) is greater than 1 million, then the value calculated for
Other expenses (line 12) must be less than 50% of the total amount.
If the Total expenses (line 13) reported for Interest (column 6) is greater than 1 million, then the amount allocated
to Instruction (line 01) must be between 10% and 70% of the total amount.
If the Total expenses reported for Interest (column 6) is greater than 1 million, then the value calculated for Other
expenses (line 12) must be less than 50% of the total amount.
If your institutions is a 2-year institution and a value greater than 0 is preloaded for the 12-month Student FTE
from E12 (line 14), then the value calculated for Total expenses per student FTE (line 15) is expected to be
between 3,000 and 65,000. If the value is greater than 80,000, then a fatal error will occur.
If your institutions is a less-than-2-year institution and a value greater than 0 is preloaded for the 12-month
Student FTE from E12 (line 14), then the value calculated for Total expenses per student FTE (line 15) is
expected to be between 2,000 and 60,000. If the value is greater than 75,000, then a fatal error will occur.
The following edits will compare the data entered on this screen to other parts of the Finance component:
•
•
•
•
•
•
The Total Amount reported for Net grant aid to students (line 08) on this screen must be less than or equal to the
difference between Total scholarships and fellowships and the sum of Allowances (scholarships) applied to
tuition and fees and Allowances (scholarships) applied to auxiliary enterprise revenues reported in Part C of
this survey.
If your institution is a partial child or partial parent, and a value greater than 0 is reported for Total expenses in
Part B, then the Total amount (column 1) reported for Total expenses (line 13) on this screen must be less than
that amount.
If your institution is a partial child or partial parent, and the Total amount (column 1) reported for Total expenses
(line 13) on this screen is greater than 10 million, then the value reported for Total revenues and investment
return in Part D of this survey is expected to be less than 150% of that amount.
If the Total for Plant, Property and Equipment calculated on the Statement of Net Assets, Page 2 screen in
Part A of this survey is greater than 10 million, then the value reported for the Operation and maintenance of
plant expense type (column 4) in the Operation and maintenance of plant category (line 11) on this screen must
be negative.
If the Total for Plant Property and Equipment reported in Part A of this survey is greater than 10 million, then
the Total expenses (line 13) reported for Depreciation (column 5) must be greater than 0.
If the Long term debt reported in Part A of this survey is greater than 1 million, then the Total expenses (line 13)
reported for Interest (column 6) must be greater than 0.
Applicable to administrative offices that are not full parents
For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,
Depreciation, and Interest), enter the amount of operating and non-operating expenses incurred in each of the following
functional categories:
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Instruction (line 01)
Research (line 02)
Public service (line 03)
Academic support (line 04)
Student services (line 05)
Institutional support (line 06)
Auxiliary enterprises (line 07)
Net grant aid to students (line 08)
Operation and maintenance of plant (line 11)
If your institution is a partial child or partial parent, then you must also report a Total amount for Total expenses (line 13).
Otherwise, this information is preloaded from Part B of this survey.
Upon saving the screen, the system will use the above values to calculate the amount of All other expenses (column 7)
within each functional category, and the amount of Other expenses (line 12) incurred by expense type. For your reference,
the PY Total Amount for each functional category is also displayed, along with the Prior year total expenses by expense
type.
Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 14). This value
is used in combination with the reported data to calculate the Total expenses per student FTE (line 15).
The system will perform the following edits on the data entered:
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For each functional category, the values reported for each expense type must be less than or equal to the Total
amount (column 1) reported for that category.
For each expense type and functional category, the value reported cannot be negative; with the following exception:
◦ The Operation and maintenance of plant expense type (column 4) in the Operation and maintenance of
plant category (line 11).
If the Total amount reported for Tuition and fees in Part B of this survey is equal to 0, then the values reported for
Instruction (line 01) on this screen are also expected to be equal to 0 for the following expense types:
◦ Total amount (column 1)
◦ Salaries and wages (column 2)
◦ Benefits (column 3)
◦ Operation and maintenance of plant (column 4)
◦ Depreciation (column 5)
◦ Interest (column 6)
The Total Amount reported for Instruction (line 01) is expected to be within a 50% range of the corresponding PY
Total Amount (column 8).
The Total Amount reported for Research (line 02) is expected to be within a 50% range of the corresponding PY
Total Amount (column 8).
The Total Amount reported for Public service (line 03) is expected to be within a 50% range of the corresponding
PY Total Amount (column 8).
A Total Amount (column 1) must be entered for Academic support (line 04).
The Total Amount reported for Academic support (line 04) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
A Total Amount (column 1) must be entered for Student Services (line 05).
The Total Amount reported for Student Services (line 05) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
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A Total Amount (column 1) must be entered for Institutional support (line 06).
The Total Amount reported for Institutional support (line 06) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount reported for Auxiliary enterprises (line 07) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
If the value reported for Sales and services of auxiliary enterprises on the Operating Revenues screen in Part
B of this survey is equal to 0, then the Total amount (column 1) reported for Auxiliary enterprises (line 07) on this
screen is also expected to be equal to 0.
The Total Amount reported for Net grant aid to students (line 08) is expected to be within a 50% range of the
corresponding PY Total Amount (column 8).
The Total Amount (column 1) calculated for Other expenses (line 12) is expected to be less than or equal to 75%
of the Total amount (column 1) reported for Total expenses (line 13).
If your institution is a partial child or partial parent, then the Total amount (column 1) reported for Total expenses
(line 13) must be greater than 0.
If your institution is a partial child or partial parent, and the Total amount of Prior year total expenses is greater
than 0, then the Total Amount (column 1) reported for Total expenses (line 13) may NOT be equal to that amount.
If your institution is a partial child or partial parent, then the Total amount (column 1) reported for Total expenses
(line 13) is expected to be within a 30% range of the corresponding Prior Year total expenses.
If your institution is a partial child or partial parent, and a value greater than 0 is reported for Total expenses in
Part B, then the Total amount (column 1) reported for Total expenses (line 13) on this screen must be less than
that amount.
For each expense type, the value reported for Total expenses (line 13) is expected to be within a 50% range of the
corresponding Prior year total expenses.
A Salaries and wages value (column 2) must be entered for the following expense types:
◦ Academic support (line 04)
◦ Student services (line 05)
◦ Institutional support (line 06)
The Salaries and wages (column 2) reported for Total expenses (line 13) must be greater than 0.
If a value greater than 0 is reported on any line for the Operation and maintenance of plant expense type (column
4), then the value reported for the Operation and maintenance of plant expense type (column 4) in the
Operation and maintenance of plant category (line 11) on this screen must be negative.
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| File Type | application/pdf |
| Author | Le, Bao |
| File Modified | 2015-10-15 |
| File Created | 2015-10-15 |