2009 Annual Report of the State-Supported Student Financial Aid ...
2009 Annual Report of the State-Supported Student Financial Aid ...
2009 Annual Report of the State-Supported Student Financial Aid ...
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Executive SummaryBudget SummaryFor <strong>the</strong> Fiscal Year <strong>2009</strong>, which began July 1, 2008 and ended June 30, <strong>2009</strong>, <strong>Student</strong> <strong>Financial</strong> <strong>Aid</strong> (SFA) received anannual appropriation <strong>of</strong> $30,199,810. Through <strong>the</strong> annual appropriation process, SFA also received $177,563 in HealthCare Expendable Funds. SFA realized additional revenues in <strong>the</strong> form <strong>of</strong> federal funds, <strong>the</strong> Ayers settlement, interestincome from investments, collection receipts, and grants. SFA experienced a 5% mid-year reduction in General Funds.SFA revenues were expended for <strong>the</strong> general administration <strong>of</strong> <strong>the</strong> state's student assistance programs and for grants andloan/scholarships for students. An overview <strong>of</strong> SFA budgeted and actual revenues and expenditures is provided below.Fund SourceRevenuesReductionFY <strong>2009</strong> OriginalBudget5%FY <strong>2009</strong> with 5%Reduction BudgetActualGeneral Funds $ 30,199,810.00 $ 1,509,990.50 $ 28,689,819.50 $ 28,689,819.50Health Care Expendable Funds $ 177,563.00 $ - $ 177,563.00 $ 77,724.00Total Appropriated Funds $ 30,377,373.00 $ 1,509,990.50 $ 28,867,382.50 $ 28,767,543.50Federal Funds (LEAP) $ 254,500.00 $ - $ 254,500.00 $ 254,500.00Ayers Summer Development $ 500,000.00 $ 500,000.00 $ 500,000.00Interest Income/Collections $ 613,275.29 $ - $ 613,275.29 $ 799,930.96Private/<strong>State</strong>/Federal Grants $ 1,500,000.00 $ - $ 1,500,000.00 $ 1,649,418.50Total O<strong>the</strong>r Funds $ 2,867,775.29 $ - $ 2,867,775.29 $ 3,203,849.46Total $ 33,245,148.29 $ 1,509,990.50 $ 31,735,157.79 $ 31,971,392.96ExpensesFund SourceFY <strong>2009</strong> OriginalBudgetReductionSalaries & Fringes $ 546,236.00 $ - $ 546,236.00 $ 566,719.30Travel $ 11,325.00 $ - $ 11,325.00 $ 3,403.64Contractual Services $ 583,312.00 $ - $ 583,312.00 $ 589,622.34Commodities $ 16,000.00 $ - $ 16,000.00 $ 7,458.91Capital Outlay $ 10,675.00 $ - $ 10,675.00 $ 10,675.60Total Administration $ 1,167,548.00 $ - $ 1,167,548.00 $ 1,177,879.79<strong>State</strong>-<strong>Supported</strong> Programs $ 29,209,825.00 $ 1,509,990.50 $ 27,699,834.50 $ 28,635,586.67O<strong>the</strong>r Programs $ 2,867,775.29 $ 2,867,775.29 $ 2,157,926.50Total $ 33,245,148.29 $ 1,509,990.50 $ 31,735,157.79 $ 31,971,392.965%FY <strong>2009</strong> with 5%Reduction BudgetActualExecutive Summary Budget Summary - 1
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