Consolidated Financial Report - SUNY Canton

Consolidated Financial ReportSection G is entitled Canton College Foundation.The Foundation is a separate not-forprofit501 (c) (3) corporation that houses all ofthe College’s fundraising activity. Establishedin 1973, gifts to the College provide hundredsof thousands of dollars annually to the institution.Much of this activity relates to the Collegescholarship program. The remainder isin the form of restricted and unrestricted giftsto various departments. Details related to theCanton College Foundation can be found inSection G.Nearly 85% of SUNY Canton students demonstrate financial needand receive some form of aid. The average Canton student receivesover $4,500 in financial aid assistance, with much of them comingin the form of loans or work-study opportunities.Details related to College Association can befound in Section D of this report.Income Fund Reimbursable (IFR) is a separateoperating fund for self-contained incomegeneratingprograms. There are a wide varietyof accounts making up this fund. The threelargest IFR accounts are referred to as the College’sbroad-based fee accounts. They are theHealth Fee, Technology Fee, and Athletic Fee.Broad-based fees are charged to all studentsand the revenue is used to run the particularprogram. Other examples of accounts withinthe IFR section are Registration Fees, GraduationFees, Parking, and Fitness Center, toname a few. These accounts function similarlyas State-supported accounts with the exceptionthat an overhead rate is applied to the accountactivity which in turn finds its way backto the Campus Financial Plan. Details and acomplete history of all campus IFR accountscan be found in Section E.Another separate segment of activity is referredto as State University Tuition ReimbursableAccount (SUTRA). This is yet anotherself-contained fund primarily used to housethe College’s Summer Session and WinterTerm activity. Details related to SUTRA canbe found in Section F.Research and Sponsored Programs is housedin the academic wing of the institution. Theamount of $2,100,000 refers to the total dollaramount of grants and sponsored programs administeredby the College. Additional detailsregarding this segment can be found in theacademic component of Section B.The annual State budget appropriation bill forthe State University of New York separatelyidentifies amounts for a number of Universitywideprograms. These programs typicallypertain to multiple campuses, although someprograms are directed to a single campus. Asmall number of programs are administrateddirectly at SUNY System Administration.Campus allocations from the multi-campusprograms are distributed separately from theBudget Allocation Process, in a manner mostappropriate for each program consistent withlegislative intent. Funding levels reflect the2011-12 Financial Plan adopted by the SUNYBoard of Trustees. In some cases, the Statesupport (General Fund) amount is supplementedby sponsored program funds, assessments,or other special revenues.State University of New York Fringe Benefitsare calculated and paid via SUNY System Administrationon behalf of the institution. Thecombined rate fluctuates from year to year.A-11State University of New York at Canton