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Achieving Financial Sustainability

Understanding the Challenge                Understanding Costs

Understanding Funding

Venn diagram showing how revenue is distributed at SBU. Included in Financial Statement & Total Operating Revenue: Hospital, Veterans' Home, Academic & Support, Research, SBF SUpport, SBF Agency, Faculty Student Association Under Total operating Revenue only: Clinical Practices Under Financial Statement only: State Funded Fringe Benefits and State Funded Debt Service

 

Stony Brook University is a large and complex organization composed of multiple parts. The graph above is our best attempt to simplify and clarify accounting and financial requirements that can be difficult to understand. This graph shows SBU’s funding in FY20 and FY21 (bolded). 

For example, total operating revenue does not include large portions of our state support including payment on debt and fringe benefits that pay for all faculty and staff benefits such as healthcare, retirement and so on.  On the other hand, our financial statements do not address — for a variety of accounting and legal reasons — the $644 million in our operating budget that supports our Clinical Practice.

Operating Budgets

Left Chart: Pie chart showing Stony Brook's 2019/20 $3.5 Billion Operating Actual Revenue by Source of Funds. Total Hospital Revenue: $1,694.8M Total Clinic Revenue: $528.5M Total Veteran's Home Revenue: $62.7M Tuition: $292.9M State Tax Support: $128.7M Self Sustaining Operations: $338.5M Research: $205.1M CARES Act Institutional Funding: $141.9M Drawn from Central Funds: $54.8M and Other: $8.6M. Right Chart: Pie chart showing Stony Brook's 2020/21 $3.5 Billion Operating Budget by Source of Funds. Total Hospital Revenue: $1,775.5M Total Clinic Revenue: $644.0M Total Veteran's Home Revenue: $63.3M Tuition: $267.3M State Tax Support: $122.4M Self Sustaining Operations: $318.0M Research: $206.0M Drawn from Central Funds: $126.7M and Other: $3.9M Footnote reads: The State support above excludes the state funded fringe benefits costs paid by NYS on behalf of SBU. This figure is $208M for 20/21.

 

While the first effects of COVID-19 were felt in the final quarter of FY20, primarily in refunded fees and cleaning expenses, the FY21 budget anticipated a far more significant impact including a decrease in state support, international student tuition and residence hall revenue. 

Due to decreasing revenue and other continuing impacts of COVID-19 affecting our finances, the budget relied more heavily on our reserves to ensure that Stony Brook was able to provide a safe and fulfilling academic experience for our students and faculty. 

Left Chart: Pie chart showing Stony Brook's 2019/2020 $984 Million Academic & Research Operating Actual Revenue by Source of Funds Tuition: $292.9M State Tax Support: $128.7M IFR & SUTRA: $166.3M Dormitory: $81.8M Stony Brook Foundation: $41.1M Faculty Student Association: $30.5M Research: $205.1M CARES Act Institutional Funding: $9.9M SBF Agency Funds: $18.9M Other Revenue: $8.6M. Right Chart: Pie chart showing Stony Brook's 2020/2021 $977 Million Academic & Research Operating Revenue by Source of Funds Tuition: $267.3M State Tax Support: $122.4M IFR & SUTRA: $170.2M Dormitory: $54.8M Stony Brook Foundation: $41.1M Faculty Student Association: $29.5M Research: $206.0M SBF Agency Funds: $18.9M Other Revenue: $8.6M Drawn from Reserves: $59.1M Footnote reads: The State support above excludes the state funded fringe benefits costs paid by NYS on behalf of SBU. This figure is $208M for 20/21.

The total academic and research operating budget decreased from $984 million to $977 million in the FY21 budget. A key factor in this reduction is the $23.4 million decrease in the dormitory revenue budget which assumes 25% decreased student occupancy due to the COVID-19 impact.

These charts also show the increase to Stony Brook’s utilization of reserve funds on the academic and research side. Due to expected decreases in enrollment from international students as a result of travel restrictions, combined with decreased housing occupancy, the university expects to draw $59 million in reserves to continue operations and services.

Left Chart: Pie chart showing Stony Brook's 2019/2020 $2.5 Billion Operating Actual Revenue by Source of Funds Hospital Revenue: $1,606.9M Hospital Other Revenue: $32.1M Hospital Gevernment Payments: $55.8M Clinic Fee for Services: $473.7M Clinic Revenue: $54.8M Veterans' Home Revenue: $40.8M Veterans' Home Governement Payments: $21.9M CARES Act Institutional Funding: $132.0M Drawn from Reserves: $54.8M. Right Chart: Pie chart showing Stony Brook's 2020/2021 $2.6 Billion Operating Actual Revenue by Source of Funds Hospital Revenue: $1,707.2M Hospital Other Revenue: $45.5M Hospital Government Payments: $23.0M Clinic Fee for Services: $644.0M Veterans' Home Revenue: $40.9M Veterans' Home Governement Payments: $22.4M Drawn from Reserves: $67.7M

The hospital and clinical practices budget increased slightly, from $2.5 billion to $2.6 billion, for 2020/21. In the FY21 chart, Clinic Revenue and Clinic Fee for Services have been combined into a single line item—Clinic Fee for Services—reflecting all revenue generated from Clinical Services. 

Note: Data has been updated as of May 28, 2021.

 

Understanding the Challenge                Understanding Costs