Finance

Integrated Postsecondary Education Data System 

(IPEDS)

This IPEDS Finance data collection instrument was used during the

2012-13 data collection and will be used again during the 2013-14 data 

collection. Changes to the IPEDS Finance component for 

Private, For-profit Institutions (F3), starting with the 2014-15 data 

collection are reflected on the next 6 pages. 
Changes to IPEDS Finance component for 

Private, For-profit Institutions (F3), 2014-15

The private for-profit finance component for institutions (F3) will require these institutions to report more 

detailed financial information, similar to what is currently reported by public and private not-for-profit 

institutions. 

General Information

New screening question: 

What type of business structure is the institution for tax purposes? 

O Sole Proprietorship

O Partnership (General, Limited, Limited Liability)

O C Corporation

O S Corporation

O Limited Liability Company (LLC)

If the answer is C Corporation or Limited Liability Company (LLC), the institution will report amounts for

the following income tax expenditure categories:

Line No. Income Tax Expenses

Current year 

amount

20 Federal income tax expenses

21 State and local income tax expenses
Part A: Balance Sheet Information

The private for-profit degree-granting institutions currently report total assets, total liabilities, and total 

equity, and total liabilities and equity are calculated. Starting with the 2014-15 data collection, institutions 

will report amounts for the following additional subcategories:

Part A: Balance Sheet Information, Page 1

Line 

No.

Assets, Liabilities, and Equity Current year 

amount

Assets

1 Total assets

1a Long-term investments

1b Property, plant, and equipment, net of accumulated depreciation

1c Intangible assets, net of accumulated amortization

Liabilities

2 Total liabilities

2a Debt related to property, plant, and equipment

Equity

3 Total equity calculated

4 Total liabilities and equity calculated

Part A: Balance Sheet Information, Page 2

Line No. Plant, Property and Equipment Ending balance

5 Land and land improvements

6 Buildings

7 Equipment, including art and library collections

8 Construction in Progress

9 Other

10 Total Plant, Property, and Equipment calculated

11 Accumulated depreciation

12 Property, Plant, and Equipment, net of accumulated 

depreciation (from A1b) 
Part B: Summary of Changes in Equity

There are no changes to Part B.

Part B: Summary of Changes in Equity

Line 

No. Revenues, Expenses, Gains, and Losses Current year amount

1 Total revenues and investment return 

2 Total expenses

3 Sum of specific changes in equity calculated

4 Net income

5 Other changes in equity

6 Equity, beginning of year 

7 Adjustments to beginning net equity calculated

8 Equity, end of year (from A03) preloaded
Part C: Scholarships and Fellowships

Private for-profit institutions currently report student grant aid from state and local government sources 

as a combined amount. Starting with the 2014-15 data collection, institutions will report those amounts 

separately.

Part C: Scholarships and Fellowships

Line 

No. Scholarships and Fellowships Current year amount

1 Pell grants (federal)

2 Other federal grants

3a State grants

3b Local grants (government)

4 Institutional grants 

5 Total scholarships and fellowships calculated

6 Allowances (scholarships) applied to tuition and fees

7 Allowances (scholarships) applied to auxiliary enterprise revenues
Part D: Revenues and Investment Return

Starting with the 2014-15 data collection, the revenues section of the finance component for private forprofit institutions will require institutions to separate the current “federal appropriations, grants, and 

contracts” category to be reported as two distinct categories; and separate the current “state and local 

government appropriations, grants, and contracts” category to be reported as four distinct categories. 

Part D: Revenues and Investment Return

Line 

No. Source of Funds

Current year 

amount

1 Tuition and fees (net of amount reported in Part C, line 06)

Government Appropriations, Grants and Contracts

2a Federal appropriations

2b Federal grants and contracts 

3a State appropriations

3b State grants and contracts

3c Local government appropriations

3d Local government grants and contracts

Private Gifts, Grants and Contracts 

4 Private gifts grants and contracts

Other Revenue

5 Investment income and investment gains (losses) included in net income

6 Sales and services of educational activities

7

Sales and services of auxiliary enterprises (net of amount reported in 

Part C, line 07)

12 Hospital revenue 

8 Other revenue calculated

9 Total revenues and investment return 

10 12-month Student FTE from E12 preloaded

11 Total revenues and investment return per student FTE CV=[D09/D10] calculated
Part E: Expenses by functional and natural classification

Private, for-profit institutions currently report items listed in the Total column. Starting in 2014-15 these 

institutions would report expenses by functional and natural classification, as the public and private, notfor-profit institutions do. All cells are reported unless greyed-out or otherwise indicated.

Note: Research and public service were previously reported as a combined total. 

Academic support, student services, and institutional support were previously reported as a combined

total. 

Report total operating and non-operating expenses in this section: 

Total

Salaries

and 

wages Benefits

Operation 

and 

maintenance 

of plant Depreciation Interest All Other 

Instruction calculated

Research calculated

Public service calculated

Academic 

support calculated

Student 

services calculated

Institutional 

support calculated

Auxiliary 

enterprises calculated

Net grant aid 

to students

Operation and 

maintenance 

of plant 0 calculated

Hospital 

services calculated

Other calculated calculated calculated calculated calculated calculated calculated

Total

expenses preloaded 0

12-month 

student FTE 

(from E12) preloaded

Total 

expenses per 

student FTE calculated
2012-13 Survey Materials > Form date: 12/4/2012

Finance for degree granting public institutions using GASB Reporting Standards

Finance - Public institutions 

Reporting Standard

Please indicate which reporting standards are used to prepare your financial statements:

       GASB (Governmental Accounting Standards Board), using standards of GASB 34 & 35

FASB (Financial Accounting Standards Board)

Please consult your business officer for the correct response before saving this screen. Your response to this

question will determine the forms you will receive for reporting finance data.
Finance - Public institutions 

General Information

GASB-Reporting Institutions (aligned form)

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, 2012.)

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 Qualified

(Explain in

box below)

Don't know

(Explain in

box below)               

3. Reporting Model

GASB Statement No. 34 offers three alternative reporting models for special-purpose governments like colleges and

universities. Which model is used by your institution?

      Business Type Activities

Governmental Activities

Governmental Activities with Business-Type Activities

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. Endowment Assets

Does this institution or any of its foundations or other affiliated organizations own endowment assets ?

     Yes - (report endowment assets)               

No

You may use the space below to provide context for the data you've reported above.
Part A - Statement of Net Assets 

Most recent fiscal year ending before October 2012

If your institution is a parent institution then the amounts reported in Parts A and D should include ALL of your

child institutions

Line no. Current year amount Prior year amount

Current Assets

01 Total current assets 

Noncurrent Assets

31 Depreciable capital assets, net of depreciation 

04 Other noncurrent assets

CV=[A05-A31]

   

05 Total noncurrent assets 

06 Total assets

CV=(A01+A05)

   

Current Liabilities

07 Long-term debt, current portion 

08 Other current liabilities

CV=(A09-A07)

   

09 Total current liabilities 

Noncurrent Liabilities

10 Long-term debt 

11 Other noncurrent liabilities

CV=(A12-A10)

   

12 Total noncurrent liabilities 

13 Total liabilities

CV=(A09+A12)

   

Net Assets

14 Invested in capital assets, net of related debt 

15 Restricted-expendable 

16 Restricted-nonexpendable 

17 Unrestricted

CV=[A18-(A14+A15+A16)]

   

18 Total net assets

CV=(A06-A13)

   

You may use the space below to provide context for the data you've reported above.
Part A - Statement of Net Assets (Page 2) 

Most recent fiscal year ending before October 2012

Line No. Description Ending balance Prior year

Ending balance

Capital Assets

21 Land & land improvements 

22 Infrastructure 

23 Buildings 

32 Equipment, including art and library collections 

27 Construction in progress 

Total for Plant, Property and Equipment

CV = (A21+ .. A27)

   

28 Accumulated depreciation 

33 Intangible assets, net of accumulated amortization 

34 Other capital assets 

You may use the space below to provide context for the data you've reported above.
Part E - Scholarships and Fellowships 

Most recent fiscal year ending before October 2012

DO NOT REPORT FEDERAL DIRECT STUDENT LOANS (FDSL) ANYWHERE IN THIS SECTION

Line

No.

Source Current year

amount

Prior year

amount

01 Pell grants (federal) 

02 Other federal grants (Do NOT include FDSL amounts) 

03 Grants by state government 

04 Grants by local government 

05 Institutional grants from restricted resources 

06 Institutional grants from unrestricted resources

CV=[E07-(E01+...+E05)]

   

07 Total gross scholarships and fellowships 

Discounts and Allowances

08 Discounts & allowances applied to tuition & fees 

09 Discounts & allowances applied to sales & services of

auxiliary enterprises

 

10 Total discounts & allowances

CV=(E08+E09)

   

11 Net scholarships and fellowships expenses after deducting

discounts & allowances

CV= (E07-E10) This amount will be carried forward to C10 of the

expense section.

   

You may use the space below to provide context for the data you've reported above.
Part B - Revenues and Other Additions 

Most recent fiscal year ending before October 2012

Line No. Source of Funds Current year amount Prior year amount

Operating Revenues

01 Tuition & fees, after deducting discounts & allowances 

Grants and contracts - operating

02 Federal operating grants and contracts 

03 State operating grants and contracts 

04 Local government/private operating grants and contracts    

04a Local government operating grants and contracts 

04b Private operating grants and contracts 

05 Sales & services of auxiliary enterprises,

after deducting discounts & allowances

 

06 Sales & services of hospitals,

after deducting patient contractual allowances

 

26 Sales & services of educational activities 

07 Independent operations 

08 Other sources - operating

CV=[B09-(B01+ ....+B07)]

   

09 Total operating revenues 
Part B - Revenues and Other Additions 

Most recent fiscal year ending before October 2012

Line

No.

Source of funds Current year

amount

Prior year

amount

Nonoperating Revenues

10 Federal appropriations 

11 State appropriations 

12 Local appropriations, education district taxes, & similar support 

Grants-nonoperating

13 Federal nonoperating grants Do NOT include Federal Direct Student

Loans

 

14 State nonoperating grants 

15 Local government nonoperating grants 

16 Gifts, including contributions from affiliated organizations 

17 Investment income 

18 Other nonoperating revenues

CV=[B19-(B10+...+B17)]

   

19 Total nonoperating revenues 

27 Total operating and nonoperating revenues CV=[B19+B09]    

28 12-month Student FTE from E12    

29 Total operating and nonoperating revenues per student FTE

CV=[B27/B28]

   
Part B - Revenues and Other Additions 

Most recent fiscal year ending before October 2012

Line No. Source of funds Current year amount Prior year amount

Other Revenues and Additions

20 Capital appropriations 

21 Capital grants & gifts 

22 Additions to permanent endowments 

23 Other revenues & additions

CV=[B24-(B20+...+B22)]

   

24 Total other revenues and additions 

25 Total all revenues and other additions

CV=[B09+B19+B24]

   

You may use the space below to provide context for the data you've reported above.
Part C - Expenses and Other Deductions 

Most recent fiscal year ending before October 2012

Report Total Operating AND Non-Operating Expenses in this section

1 2 3 4 5 6 7 8

Line

No.

Description Total

amount

Salaries &

wages

Employee

fringe

benefits

Operation

and

maintenance

of plant

Depreciation Interest All

other                    

PY

Total

Amount

Expenses and

Deductions

01 Instruction    

02 Research    

03 Public service    

05 Academic support    

06 Student services    

07 Institutional support    

08 Operation &

maintenance

of plant (see

instructions)

0    0

10 Scholarships and

fellowships

expenses, excluding

discounts & allowances

(from E11)

      

11 Auxiliary enterprises    

12 Hospital services    

13 Independent operations    

14 Other expenses

& deductions

CV=[C19-(C01+...+C13)]

                     

19 Total expenses &

deductions

0    

Prior year amount 

20 12-month Student FTE

from E12

   

21 Total expenses and

deductions per student

FTE CV=[C19/C20]

   

You may use the space below to provide context for the data you've reported above.
Part D - Summary of Changes In Net Assets 

Most recent fiscal year ending before October 2012

Line No. Description Current year amount Prior year amount

01 Total revenues & other additions (from B25)    

02 Total expenses & deductions (from C19)    

03 Change in net assets during year

CV=(D01-D02)

   

04 Net assets beginning of year 

05 Adjustments to beginning net assets and other gains or losses

CV=[D06-(D03+D04)]

   

06 Net assets end of year (from A18)    

You may use the space below to provide context for the data you've reported above.
Part H - Details of Endowment Assets 

Most recent fiscal year ending before October 2012

Line

No.

Value of Endowment Assets Market

Value

Prior Year

Amounts

 Include not only endowment assets held by the institution, but any assets held by

private foundations affiliated with the institution.

01 Value of endowment assets at the beginning of the fiscal year 

02 Value of endowment assets at the end of the fiscal year 

You may use the space below to provide context for the data you've reported above.
Part J - Revenue Data for Bureau of Census 

Most recent fiscal year ending before October 2012

Source and type Amount

Total for all

funds

and operations

(includes

endowment

funds,

but excludes

component

units)

Education and

general/independent

operations

Auxiliary

enterprises

Hospitals Agriculture

extension/experiment

services

(1)   (2) (3) (4) (5)

01Tuition and fees      

02Sales and services         

03Federal

grants/contracts

(excludes Pell Grants)

  

Revenue from the state government:

04State appropriations,

current & capital

  

05State grants and

contracts

  

Revenue from local governments:

06 Local appropriation,

current & capital

  

07 Local government

grants/contracts

  

08Receipts from

property and nonproperty taxes

09Gifts and private

grants, including

capital grants

10 Interest earnings

11Dividend earnings

12Realized capital gains

You may use the space below to provide context for the data you've reported above.
Part K - Expenditure Data for Bureau of Census 

Most recent fiscal year ending before October 2012

Category Amount

Total for all funds and

operations (includes

endowment funds, but

excludes component units)

Education and

general/

independent

operations

Auxiliary

enterprises

Hospitals Agriculture

extension/

experiment

services

(1) (2) (3) (4) (5)

01Salaries and wages         

02Employee benefits, total         

03Payment to state retirement

funds (maybe included in line 02

above)

  

04Current expenditures other than

salaries

  

Capital outlay:

05Construction   

06Equipment purchases   

07 Land purchases   

08 Interest on debt outstanding, all

funds & activities

09Scholarships/fellowships      

You may use the space below to provide context for the data you've reported above.
Part L - Debt and Assets, page 1 

Most recent fiscal year ending before October 2012

Debt

Category Amount

01 Long-term debt outstanding at beginning of fiscal year

02 Long-term debt issued during fiscal year

03 Long-term debt retired during fiscal year

04 Long-term debt outstanding at end of fiscal year

05 Short-term debt outstanding at beginning of fiscal year

06 Short-term debt outstanding at end of fiscal year

You may use the space below to provide context for the data you've reported above.
Part L - Debt and Assets, page 2 

Most recent fiscal year ending before October 2012

Assets

Category Amount

07 Total cash and security assets held at end of fiscal year in sinking or debt service funds

08 Total cash and security assets held at end of fiscal year in bond funds

09 Total cash and security assets held at end of fiscal year in all other funds

You may use the space below to provide context for the data you've reported above.
Prepared by 

This survey component was prepared by:

   

Keyholder

   

SFA Contact

   

HR Contact

   

Finance Contact

   

Other

Name:

Email:

How long did it take to prepare this survey component? hours minutes

The name of the preparer is being collected so that we can follow up with the appropriate person in the event that there

are questions concerning the data. The Keyholder will be copied on all email correspondence to other preparers.

The time it took to prepare this component is being collected so that we can continue to improve our estimate of the

reporting burden associated with IPEDS. Please include in your estimate the time it took for you to review instructions,

query and search data sources, complete and review the component, and submit the data through the Data Collection

System.

Thank you for your assistance.
2012-13 Survey Materials > Instructions date: 12/4/2012

Finance Public using GASB

Purpose of component

Changes in Reporting

General Information and Instructions

Context boxes

Coverage

Where to get additional help for reporting finance

Where data appears

Detailed Instructions Header

Screening questions

Part A Statement of Net Assets

Part E Scholarships and Fellowships

Part B Revenues and Other Additions

Part C Expenses and Other Deductions

Part D Summary of Changes in Net Assets

Part H Endowment Assets

Part J

Part K

Part L

Parent Child Instructions

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 Net Assets

• Revenues and Other Additions

• Expenses and Other Deductions

• Summary of Changes in Net Assets

• Scholarships and Fellowships

• Details of Endowment Assets

• Census Information
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Changes in Reporting

For the 2012-13 finance data collection we have made changes to the Scholarships and Fellowships section,

Part E. These changes include:

• The amount for discounts and allowances to auxiliary enterprises (line 8) will now be reported by the

institution, not calculated from other variables as in previous years.

• The amount for total discounts and allowances (line 10) will be calculated as the sum of discounts and

allowances to tuition & fees and auxiliary enterprises (lines 8 and 9). In previous years this amount

was calculated as the difference between net scholarship and fellowship expenses and gross

scholarships and fellowships.

• The amount for net scholarships and fellowships (line 11) will be calculated as the difference between

total (gross) scholarship and fellowships (line 7) and total discounts and allowances (line 10). In

previous years, this amount was reported in the expense section of the survey.

• Moving the Scholarships and Fellowships section before the Expenses section means that the amount

for net scholarships and fellowships expenses in Part E, line 11 will now be carried forward to the

Expenses section (Part C) to populate the net scholarships and fellowships amount for line 10. 

In previous years, the net scholarships and fellowships expense amount was first reported in the Expenses

section and carried over to the Scholarships and Fellowships section where it was used in the calculation of

both Total discounts and allowances and discounts and allowances to auxiliary enterprise. 

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, 2012. For institutions with fiscal years ending on December 31, this would be

the calendar year 2011.

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 Universities' Business Officers (NACUBO). To

provide additional help, accounting terms are underlined and colored blue. These terms are linked to

definitions found in the on-line 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.

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.

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 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
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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.

Where to Get Help

IPEDS Data Collection Help Desk

Phone: 1-877-225-2568

Email: ipedshelp@rti.org

AIR Website

You can also consult the AIR website that contains several tutorials on IPEDS data collection, a self-paced

overview of IPEDS tools and other valuable resources.

IPEDS Resources Page

In addition, the IPEDS Resources Page contains frequently asked questions, a link to the glossary, data tip

sheets, an archive of survey instruments, information on the new race/ethnicity categories and other relevant

information.

Where to Get Additional Get 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.

Where the 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

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

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.

GASB alternative models: Check the appropriate box to indicate the model alternative from GASB

Statement No. 34 that is used in preparing the GPFS. 

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.

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.

Context: Enter in this space any explanations specified in other instructions or any other information critical

to financial statement users. 

Part A – Statement of Net Assets

This part is intended to report the assets, liabilities, and net assets. 

Data should be consistent with the Statement of Net Assets in the GPFS.

All current and noncurrent classifications should be determined as discussed in Chapter 3 of

Accounting Research Bulletin No. 43.

Current Assets

01 – Total current assets – Report all current assets on this line. Include cash and cash equivalents,

investments, accounts and notes receivables (net of allowance for uncollectible amounts), inventories, and all

other assets classified as current assets. 

Noncurrent Assets

31 – Depreciable capital assets, net of depreciation – Report all capital assets reduced by the total

accumulated depreciation. Capital assets include improvements to land, easements, buildings, building

improvements, vehicles, machinery, equipment, infrastructure, and all other tangible or intangible depreciable

assets that are used in operations and that have initial useful lives extending beyond a single reporting

period. Include only depreciable capital assets on this line; non-depreciable capital assets will be included on

line 04. Report the net amount of all depreciable capital assets after reducing the gross amount for

accumulated depreciation. 

04 – Other noncurrent assets – This amount is generated by subtracting the amount on line 31 from line

5. This should be the amount of all noncurrent assets reported by the institution not included on line 31 and

04. 

05 – Total noncurrent assets – Report the total of all noncurrent assets as reported in the institution’s

GPFS. 

06 – Total assets – This amount is generated by adding the amounts on lines 01 and 05. 

Current Liabilities

07 – Long-term debt, current portion – Report the amount due in the next operating cycle (usually a

year) for amounts otherwise reported as long-term or noncurrent debt. Include only outstanding debt on this

line; the current portion of other long-term liabilities, such as compensated absences, will be included on line

08. 

08 – Other current liabilities – This amount is generated by deducting from the amount on line 09 the

amount on line 07. 

09 – Total current liabilities – Report the total of all current liabilities as reported in the institution’s GPFS. 

Noncurrent Liabilities

10 – Long-term debt – Report the amount for long-term debt arising from debt issuance and leasepurchase agreements. Other long-term liabilities, such as compensated absences, claims and judgments,

pensions, and other similar noncurrent liabilities will be included on line 11. Note that the amount of longterm debt due within the next operating cycle is reported on line 07. 
11 – Other noncurrent liabilities – This amount is generated by deducting the amount on line 10 from the

amount on line 12. 

12 – Total noncurrent liabilities – Report the total of all noncurrent liabilities as reported in the

institution’s GPFS. 

13 – Total liabilities - This amount is generated by adding the amounts on lines 09 and 12. 

Net Assets

14 – Invested in capital assets, net of related debt – Report the component of net assets represented by

the total of all capital assets, reduced by accumulated depreciation, and reduced by the amount of

outstanding bonds, mortgages, notes, or other borrowings that are attributable to the acquisition,

construction, or improvement of those assets (see indebtedness on capital assets). Some outstanding debt

may be reported in both current and noncurrent liabilities. Include restricted capital assets. 

15 – Restricted-expendable – Report restricted net assets that are expendable. Net assets should be

reported as restricted when constraints placed on use are either (a) externally imposed by creditors, grantors,

contributors, or laws and regulations of other governments or (b) imposed by law through constitutional

provisions or enabling legislation. Expendable net assets are all those not required to be retained in

perpetuity. 

16 – Restricted-nonexpendable – Report net assets that are restricted and nonexpendable. See line 15 for

the definition of restricted. Nonexpendable net assets are those that are required to be retained in

perpetuity. 

17 – Unrestricted – This amount is generated by taking the amount from line 18 and subtracting the total of

lines 14-16. This should be the amount of net assets that do not meet the definition of “restricted” or

“invested in capital assets, net of related debt.” 

18 – Total net assets – This amount is generated by taking the amount on line 06 (total assets) and

subtracting the amount on line 13 (total liabilities). This should equal the amount reported as total net assets

in the institution’s GPFS.

Part A – Statement of Net Assets, Page 2

Capital Assets

Report the ending balance of the asset categories shown on each line of the form. Report only

assets reported as capital assets by the institution. Do not include those plant values that are a

part of endowment funds or other capital fund investments in real estate. Financial reporting

standards do not specify the exact categories of capital assets that must be reported. Respondents

should match their categories to the categories provided on this part as closely as possible even if

the categories are not exact matches. An institution may have capital assets that do not fit within

any of these categories; such assets are simply not reported in this part. Report property obtained

under capital leases in the categories that best describe the property, such as equipment,

buildings, etc. Amounts reported in this part do not necessarily agree with amounts reported on

the Statement of Net Assets above. 

Gross Asset Amounts – The amounts on these lines are the total carrying amounts of the capital

assets, without reducing the amounts for accumulated depreciation. 

21 – Land & land improvements – Report land and other land improvements, such as athletic

fields, golf courses, lakes, etc. 

22 – Infrastructure – Report infrastructure assets such as roads, bridges, drainage systems,

water and sewer systems, etc. 

23 – Buildings – Report structures built for occupancy or use, such as for classrooms, research,

administrative offices, storage, etc. Include built-in fixtures and equipment that are essentially part

of the permanent structure. 

32 – Equipment, including art and library collections – Report moveable tangible property

such as research equipment, vehicles, office equipment, library collections (capitalized amount of

books, films, tapes, and other materials maintained in library collections intended for use by

patrons), and capitalized art collections. 

27 – Construction in progress – Report capital assets under construction and not yet placed

into service.
28 – Accumulated depreciation – Report all depreciation amounts, including depreciation on

assets that may not be included on any of the above lines.

33 – 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 report should be reduced by total accumulated amortization.

34 – Other capital assets – Report all other amounts for capital assets not reported in lines 21 through

28, and lines 32 and 33. 

Part E - 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 undergraduate 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 Discounts and Allowances to Tuition and Other Fee Revenues by

Public Institutions of Higher Education (AR 2000-05, September 1, 2000), which is available at the NACUBO

website (www.nacubo.org). AR 2000-05 states: 

"A scholarship allowance is the difference between the stated charge for goods and services provided by the

institution and the amount that is paid by students and/or third parties making payments on behalf of

students. In considering what is or is not revenue (for Part D), the following rule applies: amounts received to

satisfy student tuition and fees will be reported as revenue only once (e.g., student fees, gifts, federal grants

and contracts such as Pell Grants, and 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." 

Refer to these specific instructions for more information about reporting student scholarships and

fellowships. 

01 – Pell grants (federal) — Report the gross amount of Pell grants disbursed or otherwise made available

to recipients by your institution. 

02 – Other federal grants — Enter the amount awarded to the institution under federal student aid

programs other than Pell, such as Supplemental Education Opportunity Grants (SEOG), DHHS training grants

(aid portion only), DOD grants, Department of Veterans Affairs grants, and State Student Incentive Grants

(SSIG). Report institutional matching funds for SEOGs under institutional grants from unrestricted sources.

Include the federal support portion of State Student Incentive Grants (SSIGs). Do not include Federal

Direct Student Loans or Federal Work Study. 

03 – Grants by state government — Report expenditures for scholarships and fellowships that were funded

by your state such as the state share of State Student Incentive Grants (SSIGs). Report portable student aid

from another state as a state source. 

04 – Grants by local government — Report expenditures for scholarships and fellowships that were funded

by local governments. 

05 – Institutional grants from restricted sources — Report expenditures for scholarships and fellowships

received from private sources (e.g., businesses, foundations, individuals, foreign governments) that used

restricted-expendable net assets of the institution. 

06 – Institutional grants from unrestricted sources — This line is generated by taking the total on line

07 and subtracting the total of lines 01-05. This amount should include expenditures for scholarships and

fellowships from unrestricted net assets of your institution. The institutional matching portion of federal, state

or local grants should be reported here. Include athletic scholarships if appropriate. 

07 – Total gross scholarships and fellowships — Enter total scholarship & fellowship amounts. 

Discounts & Allowances – Report the amount of the gross scholarships and fellowships entered above that

were recorded as discounts & allowances. (FARM para. 360.41)

08 – Discounts & allowances applied to tuition & fees – Report the amount of discounts & allowances

that were recorded as an offset (reduction) to student tuition & fees. 

09 – Discounts & allowances applied to sales & services of auxiliary enterprises – Report the amount

of discounts & allowances that were recorded as an offset (reduction) to revenues of auxiliary enterprises

(room and board, books, meals, etc.). 
10 – Total discounts & allowances – This line is generated by summing the discounts and allowances

reported to both tuition & fees and auxiliary enterprises entered in lines 9 and 10. 

11 – Net scholarships and fellowships after deducting discounts & allowances – This amount is

generated by taking the difference between total gross scholarships and fellowships (line 7) and subtracting

the total discounts and allowances (line 10). This amount should reflect scholarships and fellowships expenses

in the form of outright grants to students selected and awarded by the institution and should not include

monies treated as discounts and allowances. This amount will be carried forward to Part C Line 10 for Net

scholarship and fellowships expenses.

Part B - Revenues and Other Additions

This part is intended to report revenues by source.

The revenues reported in this part should agree with the revenues reported in the

institution’s GPFS.

Includes all operating revenues, nonoperating revenues, and other additions for the reporting period. This

includes unrestricted and restricted revenues and additions, whether expendable or nonexpendable.

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.

Operating revenues result from providing services and producing and delivering goods (see GASB

Statement No. 9, paragraphs 16-19).

Nonoperating revenues are those generated from non-exchange transactions, such as appropriations, gifts,

and investment earnings. They are often used to support the operations of the institution. The term

nonoperating does not preclude use for operating expenses.

In some cases an institution may report certain revenues in an operating or nonoperating category different

from that shown on the IPEDS forms. This IPEDS component is not intended to dictate how an institution

reports such revenues in its own GPFS. However, for consistency of reporting it is requested that information

from the GPFS be reported to IPEDS as requested below.

For institutions receiving American Recovery and Reinvestment Act (ARRA) revenues during the reporting

period, report these amounts as part of line 19, Total nonoperating revenues. If the GPFS shows a separate

amount for ARRA revenues in another revenue category (e.g., Federal operating 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. 

Operating Revenues

01 – Tuition & fees, after deducting discounts & allowances — Report all tuition & fees (including

student activity fees) assessed against students for education purposes. Include revenues for tuition and fees

net of discounts & allowances from institutional and governmental scholarships, waivers, etc. (report gross

revenues minus discounts and allowances). Include here those tuition and fees that are remitted to the state

as an offset to state appropriations. (Charges for room, board, and other services rendered by auxiliary

enterprises are not reported here; see line 05.) 

02 – Federal operating grants and contracts — Report revenues from federal governmental agencies that

are for specific research projects or other types of programs and that are classified as operating revenues.

Examples are research projects and similar activities for which amounts are received or expenditures are

reimbursable under the terms of a grant or contract. Include federal land grant appropriations if considered

operating revenue. Do not include Pell grants or other federal student aid here (see line 13 in this

part). Do not include any ARRA revenues on this line (see line 19 in this part).

03 – State operating grants and contracts — Report revenues from state governmental agencies that are

for specific research projects or other types of programs and that are classified as operating revenues.

Examples are research projects and similar activities for which amounts are received or expenditures are

reimbursable under the terms of a grant or contract. Do not include any ARRA revenues on this line (see

line 19 in this part).

04a – Local government operating grants and contracts — Report revenues from local governmental

agencies that are for specific research projects or other types of programs and that are classified as operating

revenues. Examples are research projects and similar activities for which amounts are received or

expenditures are reimbursable under the terms of a grant or contract.

04b – Private operating grants and contracts — Report revenues from nongovernmental

agencies and organizations that are for specific research projects or other types of programs and

that are classified as operating revenues. Examples are research projects and similar activities for

which amounts are received or expenditures are reimbursable under the terms of a grant or

contract. 
05 – Sales & services of auxiliary enterprises, after deducting discounts & allowances —

Report revenues (net of discounts & allowances) generated by auxiliary enterprises 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. 

06 – Sales & services of hospitals, after deducting patient contractual allowances —

Include operating revenues (net of patient contractual allowances) for a hospital operated by the

institution and clinics associated with training. Exclude clinics that are part of the student health

services program that should be reported on line 03 or 06, as appropriate.

26 – Sales & services of educational activities – Include all operating 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 – Independent operations — Include all operating revenues associated with operations

independent of the primary missions of the institution. This category generally includes only those

revenues associated with major federally funded research and development centers. Do not

include the net profit (or loss) from operations owned and managed as investments of the

institution’s endowment funds. 

08 – Other sources-operating — This amount is generated by taking the amount on line 09 and

subtracting the total of lines 01-07. This amount should include all operating revenues not included

on lines 01-07.

09 – Total Operating Revenues — Report total operating revenues from your GPFS. 

Nonoperating Revenues

10 – Federal appropriations – Report all amounts received by the institution through acts of a

federal legislative body, except grants and contracts. Funds reported in this category are for

meeting current operating expenses, not for specific projects or programs. An example is federal

land-grant appropriations. If your institution accounts for land grant appropriations as operating

revenue, include the amount received on line 02. Do not include any ARRA revenues on this

line (see line 19 in this part).

11 – State appropriations — Report all amounts received by the institution through acts of a

state legislative body, except grants and contracts and amounts reportable on line 20. Funds

reported in this category are for meeting current operating expenses, not for specific projects or

programs. Do not include any ARRA revenues on this line (see line 19 in this part).

12 – Local appropriations, education district taxes & similar support – Report all amounts

received from property or other taxes assessed directly by or for an institution below the state

level. Include any other similar general support provided to the institution from governments

below the state level, including local government appropriations. 

13 – Federal nonoperating grants – Report all amounts reported as nonoperating revenues

from federal governmental agencies that are provided on a nonexchange basis. Include Pell

Grants and other Federal student grant aid, including Veterans Education Benefits here.

Do not include revenues from the Federal Direct Student Loan (FDSL) Program. Do not include

capital grants & gifts reported on line 21. Do not include any ARRA revenues on this line (see

line 19 in this part).

14 – State nonoperating grants – Report all amounts reported as nonoperating revenues from

state governmental agencies that are provided on a nonexchange basis. Do not include capital

grants & gifts reported on line 21. Do not include any ARRA revenues on this line (see line

19 in this part).

15 – Local government nonoperating grants – Report all amounts reported as nonoperating

revenues from local governmental agencies and organizations that are provided on a nonexchange

basis. Do not include capital grants & gifts reported on line 21. 
16 – Gifts, including contributions from affiliated organizations – Report revenues from

private donors for which no legal consideration is provided; these would be nonexchange

transactions as defined in GASB Statement No. 33 Accounting and Financial Reporting for

Nonexchange Transactions. Include all gifts or contributions to the institution except those

classified as additions to permanent endowments or capital grants & gifts. Include gifts from

affiliated organizations. Include the amount of contributed services recognized by the institution.

Do not include on this line amounts subject to reporting on line 21. 

17 – Investment income – Report on this line all investment income not reported on other

lines. 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)

(collectively referred to as "investment income"). Changes in the value of interest rate swaps

should be included in this amount. 

18 – Other nonoperating revenues – This amount is generated by taking the total entered on

line 19 and deducting the total of lines 10 through 17. A negative number may signify an error.

Please check for keying errors and recheck totals. 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 19.

19 – Total nonoperating revenues – Report the total of all nonoperating revenues from your

GPFS. This amount should include ARRA revenues received by the institution, if any.

27 – Total operating and nonoperating revenues – This amount is generated by adding lines 09 and 19.

28 – 12-month Student FTE from E12 – This number for full-time equivalent (FTE) student

enrollment is carried over from the 12-month enrollment survey. 

29 – Total operating and nonoperating revenues per Student FTE – This amount is

generated by dividing line 27 by line 28. 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.

Other Revenues and Additions 

20 – Capital appropriations – Report amounts provided by government appropriations intended

primarily for acquisition or construction of capital assets for the institution. 

21 – Capital grants & gifts – Report amounts received from gifts or grants primarily intended to

provide for the acquisition or construction of capital assets for the institution. 

22 – Additions to permanent endowments – Report gifts and other additions to endowments

that are permanently nonexpendable. 

23 – Other revenues & additions – This amount is generated by taking the total on line 24 and

deducting the total of lines 20 through 22. 

24 – Total other revenues and additions – This should be the total of all revenue and additions

included in the GPFS below the line on the Statement of Revenues, Expenses, and Changes in Net

Assets for “income before other revenues, expenses, gains, and losses.” There may be more than

one figure in your own GPFS and thus it may be necessary to combine the revenues and additions

reported in this category. 

25 – Total all revenues and other additions – This amount is generated by adding the

amounts from lines 09, 19, and 24.

Part C - Expenses and Other Deductions

This part is intended to report expenses by function. All expenses recognized in the GPFS should be reported

using the expense functions provided on lines 01–19. These functional categories are consistent with NACUBO

Advisory Report 2000-8, Recommended Disclosure of Alternative Expense Classification Information for Public

Higher Education Institutions.

The total for expenses on line 19 should agree with the total expenses reported in your GPFS

including interest expense and any other nonoperating expenses.
Include all operating expenses and nonoperating expenses and deductions. See GASB Statement

No. 9, paragraphs 16-19, for an explanation of operating activities. Included are the costs incurred

for salaries and wages, goods, and other services used in the conduct of the institution’s

operations. Not included is the acquisition cost of capital assets, such as equipment and library

books, to the extent the assets are capitalized under the institution’s capitalization policy. 

Do not include losses or other unusual or nonrecurring items in Part C. (Special items including

gains and losses should be accounted for in Part D.)

Operation and maintenance of plant, depreciation, and interest expenses are no longer reported as

separate expense categories. Instead these expenses are to be distributed among the other

functional expense categories. NACUBO has prepared guidance to assist GASB reporters make

these allocations in Advisory Report 2010-1, Public Institutions: Methodologies for Allocating

Depreciation, Operation and Maintenance of Plant, and Interest Expenses to Functional Expense

Categories available at:

http://www.nacubo.org/Business_and_Policy_Areas/Accounting/Advisory_Reports/Advisory_Report

_2010-

1_Public_Institution_Methodologies_for_Allocation_Depreciation_Operation_and_Maintenance_of_P

lant_and_Interest_Expense-x11205-ml.html.

The advisory report also has detailed definitions for the expense categories available in Appendix B for

institutions that do not have access to the NACUBO FARM referenced in the instructions below.

Functional and Natural Expenses

Column 1, Total amount - Enter the total expense for each applicable functional category listed

on lines 01–13. No amount may be entered on line 8 for total operations and maintenance

expenses. This line is provided to assist in the allocation of operation and maintenance expenses.

Total expenses, line 19, should agree with the total expenses reported in your GPFS. 

Column 2, Salaries & 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 01-13 and 19. 

Column 3, Benefits - Enter in this column the amount of benefits expenses incurred in each

functional category identified on lines 01-13 and 19. 

Column 4, Operation and Maintenance of Plant - This column, in conjunction with Line 8, 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 01-13. The total operation and maintenance of plant

expenses should be entered as a negative amount on line 8 of this column, so that the net total of

the column as well as the net total of line 8 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 01-13 and 19. (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 01-13 and 19. (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. 

Refer to these specific instructions for more information about reporting expenses.

01 – 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 should be included in this classification. Include expenses for both credit and

noncredit activities. Exclude expenses for academic administration where the primary function is

administration (e.g., academic deans); such expenses should be reported on line 05. The

instruction category includes academic instruction, occupational and vocational instruction,

community education, preparatory and adult basic education, and remedial and tutorial instruction

conducted by the teaching faculty for the institution’s students. (FARM para. 703.4)

02 – Research - This category includes all 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. Do not report nonresearch sponsored

programs (e.g., training programs). (FARM para. 703.5)
03 – Public service - Report expenses for all activities budgeted 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 particular sectors of the

community. Include expenditures for community services and cooperative extension

services. (FARM para. 703.6)

05 – Academic support - This category includes expenses for the support services that are an

integral part of the institution’s primary missions of instruction, research, and public service.

Include expenses for museums, libraries, galleries, audio/visual services, ancillary support,

academic administration, personnel development, and course and curriculum development. Include

expenses for veterinary and dental clinics if their primary purpose is to support the institutional

program. (FARM para. 703.7)

06 – Student services - Report 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, and financial aid administration. This category

also includes intercollegiate athletics and student health services, except when operated as selfsupporting auxiliary enterprises. (FARM para. 703.8)

07 – Institutional support - Report 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, and public relations/development. (FARM para. 703.9)

08 – Operation & 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.

Report all expenses for operations established to provide service and maintenance related to

grounds and facilities used for educational and general purposes. Also include expenses for

utilities, fire protection, property insurance, and similar items. 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)

10 – Scholarships and fellowships expenses, excluding discounts & allowances - This

amount is carried forward from Part E: Scholarships and Fellowships, line 11. Scholarships

and fellowships expenses in the form of outright grants to students selected and awarded by the

institution. This is the amount that exceeds fees and charges assessed to students by the

institution and that would not have been recorded as discounts & allowances. This classification will

include the excess of awards over fees and charges from Pell grants and other resources, including

funds originally restricted for student assistance. Do not include loans to students or amounts

where the institution is given custody of the funds but is not allowed to select the recipients; these

are transactions recorded in balance sheet accounts and not revenues and expenses. (FARM para.

703.10)

11 – Auxiliary enterprises - Report 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, college unions,

college stores, and barber shops when the activities are operated as auxiliary enterprises. (FARM

para. 703.11)

12 – Hospital services - Report all expenses associated with the operation of a hospital,

including nursing expenses, other professional services, general services, administrative services,

fiscal services, and charges for physical plant operations. (FARM para. 703.12)

13 – Independent operations - Include all expenses for 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)

14 - Other expenses and deductions - This amount is generated by taking the total of line 19 and

deducting the total of lines 01 through 13.

19 – Total Expenses & Deductions - Enter on this line totals that agree with the institution’s

GPFS.
20 – 12-month Student FTE from E12 – This number for full-time equivalent (FTE) student enrollment

is carried over from the 12-month enrollment survey.

21 – Total Expenses & Deductions per Student FTE - This amount is generated by dividing

line 19 by line 20. 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.

Part D - 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 Net Assets (Part A), Revenues and Other Additions

(Part B), and Expenses and Other Deductions (Part B) are in agreement. 

01 – Total revenues & other additions – The amount on this line is brought forward from Part

B, line 25. 

02 – Total expenses & other deductions – The amount on this line is brought forward from

Part C, line 19. 

03 – Change in net assets during year – This amount is generated by subtracting line 02 from

line 01. 

04 – Net assets beginning of year – Enter the amount of total net assets at the beginning of

the year. 

05 – Adjustments to beginning net assets and other gains or losses – This amount is

generated by subtracting lines 03 and 04 from line 06. In addition to adjustments to beginning net

assets, it may also reflect other gains or losses such as those associated with the sale of plant

assets or other extraordinary transactions.

06 – Net assets end of year – This amount is brought forward from Part A, line 18. 

Part H – Details 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.

General Instructions for Parts J, K and L

Report data for the same fiscal year as reported in parts A through E. Report gross amounts but

exclude interfund transfers. Include the transactions of all funds of your institution. 
These instructions conform to the U. S. Census Bureau’s Government Finance and Employment

Classification Manual. This manual can be viewed on the Internet at

http://www.census.gov/govs/www/06classificationmanual/06_gfe_classmanual_toc.html

Do not delay reporting to await audited figures if substantially accurate figures can be supplied on

a preliminary basis. The amounts reported for the Census Bureau part of the form are used for

statistical purposes only. They are not audited, used for any indicators of compliance and have no

implications for policy. They are not released to the public at the institutional level, but rather are

aggregated to the parent government level and included with the transactions of the parent

government.

Part J - Revenues

Report only in the unshaded blocks. Information for shaded blocks is obtained from other Parts of

this form, or is not applicable to your institution. 

Line

1. All amounts will be obtained from Parts B and E. The Census Bureau includes tuition and

fees from part B plus discounts and allowances (applied to tuition) from Part E).

2. Sales and services -- Report separately only sales and service attributable to activities

indicated for column 2 and column 4. All other amounts will be obtained from Parts B and E,

or will be calculated.

3. Exclude Pell and other student grants and any Federal loans received on behalf of the

students. Include all other direct Federal grants, including research grants, in the

appropriate column.

4. Include state appropriations in the proper column. Include all operating and non-operating

appropriations, as well as all current and capital appropriations.

5. Include state grants and contracts in the proper column. Do not include state student grant

aid here.

6. Include local government appropriations in the appropriate column, regardless of whether

appropriations were for current or capital. This generally applies only to local institutions of

higher education.

7. Include local grants and contracts in the appropriate column.

8. This item applies only to local institutions of higher education. Include in column 1 any

revenue from locally imposed property taxes or other taxes levied by the local higher

education district. Include all funds – current, restricted, unrestricted and debt service.

Exclude taxes levied by another government and transferred to the local higher education

district by the levying government.

9. Include gifts for both current and capital uses. Include grants from private organizations

and individuals here. Include additions to permanent endowments if they are gifts. Exclude

gifts to component units.

10. Report the total interest earned in column 1. Include all funds and endowments.

11. Dividends should be reported separately if available. Report only the total, in column 1,

from all funds including endowments but excluding dividends of any component units. Note:

if dividends are not separately available, please report include with Interest earnings in J10,

column 1.

12. Report only the total earnings. The Census Bureau does not treat unrealized gains as

revenues. Use column 1 only.

Part K - Expenditures

Report only in the unshaded blocks. Information for shaded blocks is obtained from other Parts of

this form, or is not applicable to your institution. 

Line

1. Report only the salaries & wages for Education and General and for Agricultural

extension/experiment services, if applicable. The Census Bureau will obtain all other detail

from Part C.

2. Report only the employee benefits for staff associated with Education and General and for

Agricultural extension/experiment services, if applicable. The Census Bureau will obtain all

other detail from Part C.

3. Applies to state institutions only. Include amounts paid to retirement systems operated by

your state government only. Include employer contributions only. Exclude employee

contributions withheld.
4. Includes supplies, materials, contracts and professional services, utilities, travel, and

insurance. Excludes both employer and employee contributions to retirement, scholarships

and fellowships (see line 09), capital outlay, and salaries.

5. Construction from all funds (plant, capital, or bond funds) includes expenditure for the

construction of new structures and other permanent improvements, additions

replacements, and major alterations. Report in proper column according to function.

6. Equipment purchases from all funds (plant, capital, or bond funds).

7. From all funds (plant, capital, or bond funds), include the cost of land and existing

structures, as well as the purchase of rights-of-way.

8. Interest paid on revenue debt only. Includes interest on debt issued by the institution, such

as that which is repayable from pledged earnings, charges or gees (e.g. dormitory,

stadium, or student union revenue bonds). Report only the total, in column 1. Excludes

interest expenditure of the parent state or local government on debt issued on behalf of the

institution and backed by that parent government. Also excludes interest on debt issued by

a state dormitory or housing finance agency on behalf of the institution.

9. Do not report. The Census Bureau will obtain all amounts from Part E.

Part L - Debt and Assets

Report only in the unshaded blocks. Information for shaded blocks is obtained from other Parts of

this form, or is not applicable to your institution. 

Lines 01 through 06 – Include revenue debt only. Includes debt issued by the institution, such as

that which is repayable from pledged earnings, charges or fees (e.g. dormitory, stadium, or

student union revenue bonds). Excludes debt of the parent state or local government issued on

behalf of the institution and backed by that parent government. Also excludes debt issued by a

state dormitory or housing finance agency on behalf of the institution. Report the appropriate

category. Long-term debt and short-term debt are distinguished by length of term for repayment,

with one year being the boundary. Short-term debt must be interest bearing. 

Lines 07, 08, and 09 – Report the total amount of cash and security assets held in each category.

Report assets at book value to the extent possible. Includes ash on hand in each type of fund.

Sinking funds are those used exclusively to service debt. Bond funds are those established by your

institution to disburse revenue bond proceeds. (Exclude bond funds established by your parent

state or local government to disburse the proceeds of debt they guarantee.) All other funds might

include current, plant, or endowment funds. Exclude the value of fixed assets and exclude any

student loan funds established by the Federal government. 

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 Parent Institution Child Institution

Part A – Statement of Net Assets Reports sum of Parent and

Child data

Does not report

Part B – Revenues and Other

Additions

Reports parent data only Reports child data only

Part C – Expenses and Other

Deductions

Reports parent data only Reports child data only

Part D – Summary of Changes In Net

Assets

Reports sum of Parent and

Child data

Does not report

Part E – Scholarships and Fellowships Reports parent data only Reports child data only

Part H - Details of Endowment Assets Reports parent data only Reports child data only

Part J - Revenue Data for Bureau of

Census

Reports parent data only Reports child data only

Part K - Expenditure Data for Bureau

of Census

Reports parent data only Reports child data only

Part L - Debt and Assets Reports parent data only Reports child data only
Parent institutions should report the sum of Parent and Child data for Parts A and D, and should

report Parent data only in parts B, C, E, H, J, K and L. This is done so that revenues and other

additions, expenses and other deductions, details of endowment assets, revenue data for Bureau

of Census, Expenditure data for Bureau of Census, and debt and assets are not double counted by

Parent and Child institutions.
Glossary date: 12/4/2012

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.

Additions to permanent

endowments

Gifts or grants received by a GASB institution that are restricted to a permanent endowment

(institutions often have endowment funds that are classified as permanent endowments). Funds

must be held in perpetuity with only the income generally available for use.

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.

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.

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 appropriations Nonoperating revenues appropriated to a GASB institution by a government with the requirement

that the funds be used primarily to acquire, construct, or improve capital assets, including buildings,

land, equipment, and similar capital assets.

Capital assets Tangible or intangible assets that are capitalized under an institution's capitalization policy; some of

these assets are subject to depreciation and some are not. These assets consist of land and land

improvements, buildings, building improvements, machinery, equipment, infrastructure, and all

other assets that are used in operations and that have initial useful lives extending beyond one year.

Capital assets also include collections of works of art and historical treasure and library collections;

however under certain conditions such collections may not be capitalized. They also include property

acquired under capital leases and intangible assets such as patents, copyrights, trademarks,

goodwill, and software. Excluded are assets that are part of endowment funds or other capital fund

investments in real estate.

Capital grants and gifts Revenues of a GASB institution, other than capital appropriations, where a funding source external

to the institution specifies that they be used primarily to acquire, construct, or improve capital

assets. Includes gifts designated for a capital project.

Construction in progress Capital assets under construction or development that have not yet been placed into service, such as

a building or parking lot. Capital assets are not subject to depreciation while in a construction in

progress status.

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.

Current assets Assets that are reasonably expected to be realized in cash or sold or consumed during the next

normal operating cycle (normally one year) of the institution. Liquidity or nearness to cash is not the

basis for classifying assets as current or non-current; thus cash or investments intended for

liquidation of liabilities due beyond the one-year period would not be current assets.

Current liabilities
Liabilities whose liquidation is reasonably expected to require the use of resources classified as

current assets or the creation of other current liabilities within the next year. May include accounts

payable, accrued salaries and wages, deferred revenues, and long term debt current portion, among

others.

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.

Dividend earnings Distribution of earnings to shareholders that may be in the form of cash, stock, or property.

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.

Equipment Moveable tangible property such as research equipment, vehicles, machinery, and office equipment

that meets the institution's capitalization policy for capital assets.

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.

Gifts Revenues received from gift or contribution nonexchange transactions. 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.

FASB and GASB standards differ somewhat on when to recognize contributions or nonexchange

revenues, with FASB standards generally causing revenues to be recognized earlier in certain

circumstances.

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.

Grants by state

government

These are state monies awarded to the institution under student financial aid programs , including

the state portion of State Student Incentive Grants (SSIG).

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.

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.

Infrastructure Capital assets consisting of roads, bridges, drainage systems , water and sewer systems, and other

similar assets. Infrastructure assets usually have longer useful lives than other capital assets such as

buildings.

Institutional grants from

restricted resources

Institutional grants to students funded from restricted-expendable resources for student aid, such as

scholarships and fellowships. (Used for reporting under GASB Standards.)

Institutional grants from

unrestricted resources

Institutional grants to students that are funded from resources that are not restricted to any

particular purpose. (Used for reporting under GASB 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.

Invested in capital assets,

net of related debt

Net assets of GASB institutions that consist of capital assets net of accumulated depreciation,

reduced by the outstanding indebtedness on capital assets. FASB institutions do not use this

classification; most of the equivalent net assets are considered unrestricted net assets.

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.

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 collections Books, films, tapes, and other materials maintained in library collections intended for use by patrons.

Local appropriations,

education district taxes,

and similar support

Local appropriations are government appropriations made by a governmental entity below the state

level. Education district taxes include all tax revenues assessed directly by an institution or on behalf

of an institution when the institution will receive the exact amount collected. These revenues also

include similar revenues that result from actions of local governments or citizens (such as through a

referendum) that result in receipt by the institution of revenues based on collections of other taxes

or resources (sales taxes, gambling taxes, etc.).

Local grants Local monies awarded to the institution under local government student aid programs .

Long-term debt Debt of the institution in the form of bonds, notes, capital leases, and other forms of debt that are

repayable over a period greater than one year.

Long-term debt - current

portion

The amount of long-term debt that the institution is expected to pay or liquidate during the next

year using current 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. GASB institutions classify net assets into three categories: invested in

capital, net of related debt; restricted (with separate displays of restricted-expendable and restricted

-nonexpendable net assets); and unrestricted. Although the terms are similar, the composition of the

categories of net assets between FASB and GASB institutions can differ significantly.

Noncurrent assets Assets that are not reasonably expected to be realized in cash or sold or consumed during the next

normal operating cycle (normally one year) of the institution. Liquidity or nearness to cash is not the

basis for determining classification as current or noncurrent. Thus cash investments intended for

liquidation of liabilities due beyond the one-year period are noncurrent assets, as would assets

segregated for the liquidation of long-term debts (including amounts due within the next operating

cycle). Assets designated to be used to acquire, construct, or improve capital assets would be

noncurrent.

Noncurrent liabilities Liabilities whose liquidation is not reasonably expected to require the use of resources classified as

current assets or the creation of other current liabilities within the next year. This includes the

noncurrent portion of long-term debt and long-term accrued liabilities (such as for compensated

absences, claims & judgments, and post-employment/post-retirement benefits); liability for

refundable advances to the federal government for the Perkins Loan Program and similar loan

programs; and debt due within the next operating cycle, if payment will be made from segregated

assets classified as noncurrent assets.

Nonoperating GASB requires that revenues and expenses be separated between operating and nonoperating.

Operating revenues and expenses result from providing goods and services. Nonoperating activities

are those outside the activities that are part of the operating activities of the institution. Most

government appropriations are nonoperating because they are not generated by the operations of

the institution. Investment income is nonoperating in most instances because institutions are not

engaged in investing as an operating activity. Gifts are defined as nonoperating. Nonexchange

transactions generate nonoperating revenues.

Operating GASB requires that revenues and expenses be separated between operating and nonoperating.

Operating revenues and expenses result from providing goods and services. Operating transactions

are incurred in the course of the operating activities of the institution.

Operation and

maintenance of plant

(expenses -- FASB and

GASB aligned form

reporters)

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. FASB institutions do not use this function. Instead

these expenses are charged to or allocated to other functions.
Other federal grants Federal monies awarded to the institution under federal government student aid programs, such as

Supplemental Educational Opportunity Grants (SEOG), DHHS training grants (aid portion only), State

Student Incentive Grants (SSIG), 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 & 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 & allowances or scholarships and fellowships expenses.

Patient contractual

allowances

Contractual allowances provided to insurers or other group health providers which are deducted from

fees for services provided by hospitals (thus not included in hospital revenues).

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.

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.

Realized capital gains A capital gain on securities held in a portfolio that has become actual by the sale or other type of

surrender of one or many securities.

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 & maintenance of plant, interest, and depreciation.

Restricted-expendable

(net assets)

Net assets of GASB institutions that are expendable but subject to imposed restrictions. Restrictions

exist when constraints placed on use are either (a) externally imposed by creditors, grantors,

contributors, or laws and regulations of other governments, or (b) imposed by law through

constitutional provisions or enabling legislation.

Restricted-nonexpendable

(net assets)

Net assets of GASB institutions subject to restrictions that prohibit the expenditure of the net assets

in perpetuity. Restrictions exist when constraints placed on use are either (a) externally imposed by

creditors, grantors, contributors, or laws and regulations of other governments, or (b) imposed by

law through constitutional provisions or enabling legislation. Permanent endowments are the most

common example.

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.

Sales and services of

hospitals (revenues)

Revenues (net of discounts, allowances, and provisions for uncollectible accounts receivable)

generated by hospitals from daily patient, special and other services. Revenues of health clinics that

are part of a hospital should be included in this category, unless such clinics are part of the student

health services program.

Scholarships and

fellowships (expenses)

That portion of scholarships and fellowships granted that exceeds the amount applied to institutional

charges such as tuition and fees or room and board. The amount reported as expense excludes

allowances and discounts. The FASB survey uses the term "net grants in aid to students" rather than

"scholarships and fellowships."

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.

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 fulltime 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.
2012-13 Survey Materials > F.A.Q. date: 12/4/2012

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 received funds from the American Recovery and Reinvestment Act (ARRA). Where should they be reported?

4) We haven’t been audited yet and won’t have an audited financial statement until May. Do I still have to fill this out?

5) What period should the finance survey cover?

7) How do I know what reporting standards are used to prepare the financial statements?

8) What happens if I respond incorrectly to the reporting standards screening question?

9) What is the difference between “business-type” activities and “governmental” activities?

10) What is combined ("parent/child") reporting and how does it work?

11) Can a system office report combined data?

12) When does a system office need to report data?

13) 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?

14) My institution does not award degrees. Do we still need to complete the Finance component?

15) 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?

16) 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) I see the term CV on several lines of the finance survey. What is this referring to?

3) What are operating versus nonoperating revenues?

4) We reported federal appropriations in operating revenues rather than non-operating revenues in our financial statements. How

should I report them on IPEDS?

5) What are some examples of independent operations?

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) What are discounts and allowances (Part E)? (We don’t discount our tuition.)

8) We do not capitalize our library. Do I report it on Part A page 2?

9) Why does operation and maintenance of plant appear as both a row and column in Part C (expenses and other deductions)?

10) 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?

11) If my institution is a GASB-reporter, where should my institution report the gain or loss on the sale of a plant asset?

12) Where did component units go?

Private Not-for-Profit and Public Institutions Using FASB

1) My institution is primarily a hospital with a small instruction program. How should I report the hospital part of my institution?

2) What are some examples of independent operations?

3) What value do I use to report plant, property, and equipment on the second page of Part A?

4) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?

5) I see the term CV on several lines of the finance survey. What is this referring to?

6) What is the difference between funded and unfunded institutional grants as reported on the Student Grants part of the survey?

7) What are allowances in Part C (Scholarships and Fellowships)?

8) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?

Private for-profit institutions

1) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?

2) I see the term CV on several lines of the finance survey. What is this referring to?

3) What are allowances in Part C (Student Grants)?

4) 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?

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 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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4) 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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5) 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, 2012. 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, 2012. If your institution’s fiscal year ends on December 31, your financial

statements for the year ending December 31, 2011 would be used.

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7) 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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8) 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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9) 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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10) 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_03072007_2.asp for more information on parent/child

relationships.

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11) 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_03072007_2.asp. If a system will be reporting this

way, they must contact the Help Desk before reporting combined data.

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12) 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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13) 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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14) 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. A more detailed description can be found at

http://nces.ed.gov/ipeds/submit_data/changes0910.asp

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15) 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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16) 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 winter 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) 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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3) 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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4) 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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5) 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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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. Nonoperating expenses, such as

interest on debt, should be reported on Part C.

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7) 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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8) 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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9) 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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10) 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/Business_and_Policy_Areas/Accounting/Advisory_Reports/Advisory_Report_2010-

1_Public_Institution_Methodologies_for_Allocation_Depreciation_Operation_and_Maintenance_of_Plant_and_

Interest_Expense-x11205-ml.html. to assist public institutions to develop 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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11) 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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12) Where did component units go?

Separate reporting was eliminated when institutions moved to the new aligned reporting that was

mandatory starting in 2010-11.

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Private Not-for-Profit and Public Institutions Using FASB

1) 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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2) 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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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) 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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5) 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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6) What is the difference between funded and unfunded institutional grants as reported on the Student Grants 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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7) 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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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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Private for-profit institutions

1) 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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2) 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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3) What are allowances in Part C (Student Grants)?

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) 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 functional categories listed for expenses are recommended by the National Association of College and

University Business Officers (NACUBO). You should do your best to determine which of these functional

categories are most fitting for your institutions. If you need further assistance classifying your expenses,

please call the Help Desk.

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2012-13 Survey Materials > Narrative Edits date: 12/4/2012

Finance for degree granting public institutions using GASB Reporting Standards

Edit specifications for the 2012-13 IPEDS Web-Based Data Collection

Finance Component

Applicable to Public GASB-reporting institutions

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: Assets and Property

Part E: Scholarships and Fellowships

Part B: Revenues and Other Additions

Part C: Expenses and Other Deductions

Part D: Summary of Changes in Net Assets

Part H: Details of Endowment Assets

Part J: Census Revenue Data

Part K: Census Expenditure Data

Part L: Debt and Assets

Screening Questions

Reporting Method

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 FASB for the question above, then you are not referencing the correct narrative edit document. Please

refer to the document for Public FASB-reporting institutions.

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, 2012.

• 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, 2012.

• 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.)

• Applicable to degree-granting institutions

Indicate which of the following three alternative reporting models available for special-purpose governments (from

GASB Statement No. 34) is used by your institution:

◦ Business Type Activities

◦ Governmental Activities

◦ Governmental Activities with Business Type Activities

• Applicable to degree-granting institutions

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 provide an explanation in the context box at the bottom of

the screen.)

• Applicable to degree-granting institutions

Does your institution or any of its foundations or other affiliated organizations own endowment assets? Choose

Yes or No.

◦ If Yes is selected, an additional screen will be provided to report these assets in Part H.

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 2010 or 2011.

• The Year entered for the Ending date of the fiscal year should be either 2011 or 2012.

• The fiscal year Beginning date cannot be earlier than September 2010.

• The fiscal year Ending date cannot be later than October 2012.

• 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: Assets and Property

Applicable to institutions that are NOT children

For Part A, you must report your institution’s assets, liabilities, net assets, and capital assets for the most recent 12-month

fiscal year.

Statement of Net Assets, Page 1

Enter the Current year amount for each of the following:

• Total current assets (line 01)

• Depreciable capital assets, net of depreciation (line 31)

• Total noncurrent assets (line 05)

• Long-term debt, current portion (line 07)

• Total current liabilities (line 09)

• Long-term debt, noncurrent portion (line 10)

• Total noncurrent liabilities (line 12)

• Invested in capital assets, net of related debt (line 14)

• Restricted net assets-expendable (line 15)

• Restricted net assets-nonexpendable (line 16)

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 current assets (line 01).

• The value reported for Total current assets must be greater than 0.

• The calculated value for Total assets (line 06) 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 or equal to 0, then the current year value may NOT be

equal to that amount.

• The calculated value for Other current liabilities (line 08) cannot be negative.

• The value reported for Total current liabilities (line 09) is expected to be greater than 0.

• The calculated value for Other noncurrent liabilities (line 11) cannot be negative.

• The calculated value for Total liabilities (line 13) 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 or equal to 0, then the current year value may NOT

be equal to that amount.

• A value is expected to be entered for Invested in capital assets, net of related debt (line 14).

• The value reported for Invested in capital assets, net of related debt cannot be negative.

• The calculated value for Unrestricted net assets (line 17) is expected to be greater than 0.

• The calculated value for Total net assets (line 18) cannot be negative.

Statement of Net Assets, Page 2

On this screen, enter the Ending balance for each of the following:

• Land and land improvements (line 21)

• Infrastructure (line 22)

• Buildings (line 23)

• Equipment, including art and library collections (line 32)

• Construction in progress (line 27)

• Accumulated depreciation (line 28)

• Intangible assets, net of accumulated amortization (line 33)

• Other capital assets (line 34)

Upon saving the screen, the system uses the first five items above to calculate a Total for Plant, Property and Equipment

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:

• The value reported for Accumulated Depreciation (line 28) is expected to be greater than 0.

• The calculated Total for Plant, Property and Equipment is expected to be greater than 0.

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Part E: Scholarships and Fellowships

On this screen, you must report details about your institution’s scholarship and fellowship expenses for the most recent 12-

month fiscal year.

Enter the Current year amount for each of the following:

• Pell grants, federal (line 01)

• Other federal grants (line 02)
• Grants by state government (line 03)

• Grants by local government (line 04)

• Institutional grants from restricted resources (line 05) 

• Total gross scholarships and fellowships (line 07)

• Discounts and allowances applied to tuition and fees (line 08)

• Discounts and allowances applied to sales and services of auxiliary enerprises (line 09)

Upon saving the screen, the system uses the above values to calculate additional information such as Institutional grants from

unrestricted resources (line 06), Total discounts and allowances (line 10 = Line 08 +line 09), and Net scholarships and

fellowships expenses after deducting discounts and allowances (line 11 = line 07 - line 10) 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 your institution is NOT an administrative office, 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 Grants by state government (line 03).

• The calculated value for Institutional grants from unrestricted sources (line 06) cannot be negative.

• If the Prior year amount of Total gross scholarships and fellowships is greater than or equal to 0, then the

current year value may NOT be equal to that amount.

• If the Prior year amount of Total gross scholarships and fellowships is greater than 0, then the current

year value is expected to be within a 50% range of that amount.

• If your institution is NOT an administrative office, then a value must be entered for Discounts and allowances

applied to tuition and fees (line 08).

• The value reported for Discounts and allowances applied to tuition and fees (line 08) is expected to be

greater than 0.

• If the Prior year amount of Discounts and allowances applied to tuition and fees is greater than 0, then

the current year value is expected to be within a 50% range of that amount.

• Applicable to degree-granting institutions

If your institution reported a value greater than 0 for Sales and services of auxiliary enterprises on the

Operating Revenues screen in Part B of this survey, then you are also expected to report Discounts and

allowances applied to sales and services of auxiliary enterprises on this screen.

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Part B: Revenues and Other Additions

For Part B, you must report your institution’s operating revenues, nonoperating revenues, and other revenues using the

screens provided.

Operating Revenues, Part 1

On this screen, you must report your institution’s operating revenues for the most recent 12-month fiscal year.

Applicable to 4-year degree-granting institutions

Enter the Current year amount for each of the following:

• Tuition and fees (line 01)

• Federal operating grants and contracts (line 02)

• State operating grants and contracts (line 03)

• Local government operating grants and contracts (line 04a)

• Private operating grants and contracts (line 04b)

• Sales and services of auxiliary enterprises (line 05)

• Sales and services of hospitals (line 06)

• Sales and services of educational activities (line 26)

• Independent operations (line 07)

• Total operating 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:

• 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

amount.

• The value reported for Sales and services of hospitals (line 06) cannot be negative.

• The value reported for Sales and services of hospitals is expected to account for less than 75% of the Total all

revenues and other additions value calculated on the Other Revenues screen outlined in Part 3 below.

• The value reported for Independent operations (line 07) cannot be negative.

• The calculated value for Other operating sources (line 08) cannot be negative.

• A value must be entered for Total operating revenues (line 09).

• The value reported for Total operating revenues is expected to be greater than 0.

• The value reported for Total operating revenues is expected to be within a 50% range of the corresponding

Prior year amount.

• If the Prior year amount of Total operating revenues is greater than or equal to 0, then the current year

value may NOT be equal to that amount.

Applicable to 2-year degree-granting institutions, and all administrative offices

Enter the Current year amount for each of the following:

• Tuition and fees (line 01)
• Federal operating grants and contracts (line 02)

• State operating grants and contracts (line 03)

• Local government operating grants and contracts (line 04a)

• Private operating grants and contracts (Line 04b)

• Sales and services of auxiliary enterprises (line 05)

• Sales and services of educational activities (line 26)

• Total operating 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 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

amount.

• The calculated value for Other operating sources (line 08) cannot be negative.

• A value must be entered for Total operating revenues (line 09).

• The value reported for Total operating revenues is expected to be greater than 0.

• The value reported for Total operating revenues is expected to be within a 50% range of the corresponding

Prior year amount.

• If the Prior year amount of Total operating revenues is greater than or equal to 0, then the current year

value may NOT be equal to that amount.

Applicable to non-degree-granting institutions

Enter the Current year amount for each of the following:

• Tuition and fees (line 01)

• Federal operating grants and contracts (line 02)

• State operating grants and contracts (line 03)

• Local government operating grants and contracts (line 04a)

• Private operating grants and contracts (line 04b)

• Sales and services of educational activities (line 26)

• Total operating 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:

• 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

amount.

• The calculated value for Other operating sources (line 08) cannot be negative.

• A value must be entered for Total operating revenues (line 09).

• The value reported for Total operating revenues is expected to be greater than 0.

• The value reported for Total operating revenues is expected to be within a 50% range of the corresponding

Prior year amount.

• If the Prior year amount of Total operating revenues is greater than or equal to 0, then the current year

value may NOT be equal to that amount.

Nonoperating Revenues, Part 2

On this screen, you must report your institution’s nonoperating revenues for the most recent 12-month fiscal year.

Enter the Current year amount for each of the following:

• Federal appropriations (line 10)

• State appropriations (line 11)

• Local appropriations, education district taxes and similar support (line 12)

• Federal nonoperating grants (line 13)

• State nonoperating grants (line 14)

• Local government nonoperating grants (line 15)

• Gifts, including contributions from affiliated organizations (line 16)

• Investment income (line 17)

• Total nonoperating revenues (line 19)

Upon saving the screen, the system uses the above values and other values entered throughout Part B to calculate additional

information which may be used throughout this survey. Prior year amounts are displayed for your reference.

Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 28).. These

values are used in combination with the reported data to calculate the Total operating and nonoperating revenues per

student FTE (line 29).

The system will perform the following edits on the data entered:

• A value must be entered for State appropriations (line 11).

• A value is expected to be entered for Federal nonoperating grants (line 13).

• If your institution is NOT an administrative office, then the value reported for Federal nonoperating grants (line

13) is expected to be greater than 0.

• The value reported for Federal nonoperating grants is expected to be greater than or equal to the amount

reported for Pell grants in Part E of this survey.

• If your institution is NOT an administrative office, then a value is expected to be entered for Gifts (line 16).
• The value reported for Other nonoperating revenues (line 18) cannot be negative.

• A value must be entered for Total nonoperating revenues (line 19).

• The value reported for Total nonoperating revenues is expected to be greater than 0.

• If the Prior year amount of Total nonoperating revenues is greater than or equal to 0, then the current year

value may NOT be equal to that amount.

• If your institution is a 4-year institution and a value greater than 0 is preloaded for the 12-month Student FTE

from E12 (line 28), then the calculated Total operating and nonoperating revenues per student FTE (line

29) value is expected to be between 75,000 and 100,000.

• If your institution is a 4-year institution and a value greater than 0 is preloaded for the 12-month Student FTE

from E12 (line 28), then the calculated Total operating and nonoperating revenues (line 27) value minus

Sales and Services of hospitals divided by the 12-month Student FTE from E12(line 28) is expected to be

between 8,000 and 500,000.

• 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 28), then the calculated Total operating and nonoperating revenues per student FTE (line

29) value is expected to be between 6,000 and 45,000.

Other Revenues, Part 3

On this screen, you must report your institution’s other revenues and additions for the most recent 12-month fiscal year.

Applicable to degree granting institutions

Enter the Current year amount for each of the following:

• Capital appropriations (line 20)

• Capital grants and gifts (line 21)

• Additions to permanent endowments (line 22)

• Total other revenues and additions (line 24)

Upon saving the screen, the system uses the above values and other values entered throughout Part B to calculate additional

information (including the Total all revenues and other additions (line 25) 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:

• The value reported for Additions to permanent endowments (line 22) cannot be negative.

• The calculated value for Other revenues and additions (line 23) cannot be negative.

• A value must be entered for Total other revenues and additions (line 24).

• The value reported for Total other revenues and additions cannot be negative.

• If your institution is NOT an administrative office, then the calculated value for Total all revenues and other

additions cannot be negative.

• The calculated value for Total all revenues and other additions is expected to be within a 50% range of the

corresponding Prior year amount.

• If the Prior year amount of Total all revenues and other additions is greater than or equal to 0, then the

current year value may NOT be equal to that amount.

• The value entered for Total all revenues and other additions (line 25) is expected to be greater than 0.

• If your institution is NOT an administrative office, and the calculated value for Total all revenues and other

additions (line 25) is greater than 100 million, then the value entered for Additions to permanent

endowments (line 22) should not be greater than 0.

• If your institution is NOT an administrative office, and the calculated value for Total all revenues and other

additions (line 25) is greater than 100 million, then the value entered for Total other revenues and additions

(line 24) should not be equal to 0.

Applicable to non-degree granting institutions

Enter the Current year amount for Total other revenues and additions (line 24).

Upon saving the screen, the system uses this value and other values entered throughout Part B to calculate the Total all

revenues and other additions (line 25) for use 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 other revenues and additions (line 24).

• The value reported for Total other revenues and additions cannot be negative.

• The calculated value for Total all revenues and other additions (line 25) should be greater than 0.

• The calculated value for Total all revenues and other additions cannot be negative.

• The calculated value for Total all revenues and other additions is expected to be within a 50% range of the

corresponding Prior year amount.

• If the Prior year amount of Total all revenues and other additions is greater than or equal to 0, then the

current year value may NOT be equal to that amount.

• If your institution is NOT an administrative office, then the value entered for Total all revenues and other

additions (line 25) is not expected to be negative.

• If your institution is NOT an administrative office, and the calculated value for Total all revenues and other

additions (line 25) is greater than 100 million, then the value entered for Total other revenues and additions

(line 24) should not be equal to 0.

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Part C: Expenses and Other Deductions

For Part C, you must report your institution’s expenses by function for the most recent 12-month fiscal year.

Applicable to 4-year degree-granting institutions

For each applicable expense type (Total amount, Salaries and wages, Employee fringe benefits, Operation and

maintenance of plant, Depreciation, and Interest), enter the amount of expenses incurred in each of the following functional

categories:
• Instruction (line 01)

• Research (line 02)

• Public service (line 03)

• Academic support (line 05)

• Student services (line 06)

• Institutional support (line 07)

• Operation and maintenance of plant (line 08)

• Scholarships and fellowships expenses (line 10)

• Auxiliary enterprises (line 11)

• Hospital services (line 12)

• Independent operations (line 13)

• Total expenses and deductions (line 19)

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 and deductions (line 14) incurred by expense type. For your

reference, the PY Total Amount for each functional category is displayed, along with the Prior year amount of Total

expenses and deductions by expense type.

Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 20). These

values are used in combination with the reported data to calculate the Total expenses and deductions per student FTE

(line 21).

The system will perform the following edits on the data entered:

• For all applicable functional categories, the values reported for each expense type must be less than or equal to

the Total amount (column 1) reported for that category.

• For lines 01 through 11, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1)

◦ Salaries and wages (column 2)

◦ Employee fringe benefits (column 3)

◦ Depreciation (column 5)

◦ All other (column 7)

• The Total amount reported for Instruction (line 01) is expected to be greater than 0.

• If the PY Total Amount displayed for Instruction is greater than 0, then the current year Total amount is

expected to be within a 50% range of that amount.

• If your institution is NOT and administrative office, the amount reported for the Operation and maintenance of

plant expense type (column 4) in the Operation and maintenance of plant category (line 08) is less than -1

million, and that value is not equal to 0, then the negative of the amount allocated to Instruction (line 01)

divided by column 4 line 8 should be between 10% and 70%.

• If the Total expenses and deductions entered 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 your institution is NOT an administrative office and the Total expenses and deductions entered 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.

• The Total amount entered for Research (line 02) is expected to be within a 50% range of the PY Total

Amount.

• A Total amount must be entered for Academic support (line 05).

• The Total amount reported for Academic support is expected to be greater than 0.

• A Total amount must be entered for Student services (line 06).

• The Total amount reported for Student services is expected to be greater than 0.

• A Total amount must be entered for Institutional support (line 07).

• The Total amount reported for Institutional support is expected to be greater than 0.

• 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 amount reported on this screen for the Operation and

maintenance of plant expense type (column 4) in the Operation and maintenance of plant category (line

08) must be negative.

• 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 in this column for the Operation and maintenance of plant category (line

08) must be less than or equal to 0.

• 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 reported for Auxiliary enterprises (line 11) on this

screen is also expected to be equal to 0.

• 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 reported for Hospital services (line 12) 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 reported for Independent operations (line 13) on this screen is also

expected to be equal to 0.

• The calculated amount of Other expenses and deductions (line 14) cannot be negative for any expense type.

• If the Total expenses and deductions entered for Depreciation (column 5) is greater than 1 million, then the

amount calculated for Other expenses (line 14) must be less than 50% of the total amount.

• If the Total expenses and deductions entered for Interest (column 5) is greater than 1 million, then the

amount calculated for Other expenses (line 14) must be less than 50% of the total amount.

• An amount must be entered for each expense type for Total expenses and deductions (line 19).
• For Total expenses and deductions, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1)

◦ Salaries and wages (column 2)

◦ Employee fringe benefits (column 3)

◦ All other (column 7)

• The Total amount reported for Total expenses and deductions cannot be equal to the corresponding Prior

year amount.

• If the Total for Plant Property and Equipment reported in Part A of this survey is greater than 10 million,

then the Total expenses and deductions reported for Depreciation must be greater than 0.

• If your institution is NOT an administrative office and the Long term debt reported in Part A of this survey is

greater than 10 million, then the Total expenses and deductions reported for Interest must be greater than 0.

• The amount reported for each expense type for Total expenses and deductions is expected to be within a 50%

range of the corresponding Prior year amount.

• The sum of Total operating revenues and Total nonoperating revenues reported in Part B of this survey is

expected to be within a 25% range of the Total amount reported for Total expenses and deductions on this

screen.

• If the 12-month Student FTE from E12 is greater than 0, then the Total amount reported for Total expenses

and deductions minus the Total amount reported for Hospital services (line 12) is expected to be within a

range of 8,000 to 500,000 times the value of the 12-month Student FTE from E12.

Applicable to 2-year degree-granting institutions

For each applicable expense type (Total amount, Salaries and wages, Employee fringe benefits, Operation and

maintenance of plant, Depreciation, and Interest), enter the amount of expenses incurred in each of the following functional

categories:

• Instruction (line 01)

• Research (line 02)

• Public service (line 03)

• Academic support (line 05)

• Student services (line 06)

• Institutional support (line 07)

• Operation and maintenance of plant (line 08)

• Scholarships and fellowships expenses (line 10)

• Auxiliary enterprises (line 11)

• Total expenses and deductions (line 19)

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 and deductions (line 14) incurred by expense type. For your

reference, the PY Total Amount for each functional category is displayed, along with the Prior year amount of Total

expenses and deductions by expense type.

Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 20). These

values are used in combination with the reported data to calculate the Total expenses and deductions per student FTE

(line 21).

The system will perform the following edits on the data entered:

• For all applicable functional categories, the values reported for each expense type must be less than or equal to

the Total amount (column 1) reported for that category.

• For lines 01 through 11 the values reported for the following expense types cannot be negative:

◦ Total amount (column 1)

◦ Salaries and wages (column 2)

◦ Employee fringe benefits (column 3)

◦ Depreciation (column 5)

◦ All other (column 7)

• The Total amount reported for Instruction (line 01) is expected to be greater than 0.

• If the PY Total Amount displayed for Instruction is greater than 0, then the current year Total amount is

expected to be within a 50% range of that amount.

• If your institution is NOT and administrative office, the amount reported for the Operation and maintenance of

plant expense type (column 4) in the Operation and maintenance of plant category (line 08) is less than -1

million, and that value is not equal to 0, then the negative of the amount allocated to Instruction (line 01)

divided by column 4 line 8 should be between 10% and 70%.

• If the Total expenses and deductions entered 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 your institution is NOT an administrative office and the Total expenses and deductions entered 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.

• The Total amount entered for Research (line 2) is expected to be within a 50% range of the PY Total Amount.

• A Total amount must be entered for Academic support (line 05).

• The Total amount reported for Academic support is expected to be greater than 0.

• A Total amount must be entered for Student services (line 06).

• The Total amount reported for Student services is expected to be greater than 0.

• A Total amount must be entered for Institutional support (line 07).

• The Total amount reported for Institutional support is expected to be greater than 0.
• 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 amount reported on this screen for the Operation and

maintenance of plant expense type (column 4) in the Operation and maintenance of plant category (line

08) must be negative.

• 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 in this column for the Operation and maintenance of plant category (line

08) must be less than or equal to 0.

• 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 reported for Auxiliary enterprises (line 11) on this

screen is also expected to be equal to 0.

• The calculated amount of Other expenses and deductions (line 14) cannot be negative for any expense type.

• If the Total expenses and deductions entered for Depreciation (column 5) is greater than 1 million, then the

amount calculated for Other expenses (line 14) must be less than 50% of the total amount.

• If the Total expenses and deductions entered for Interest (column 5) is greater than 1 million, then the

amount calculated for Other expenses (line 14) must be less than 50% of the total amount.

• An amount must be entered for each expense type for Total expenses and deductions (line 19).

• For Total expenses and deductions, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1)

◦ Salaries and wages (column 2)

◦ Employee fringe benefits (column 3)

◦ All other (column 7)

• The Total amount reported for Total expenses and deductions cannot be equal to the corresponding Prior

year amount.

• If the Total for Plant Property and Equipment reported in Part A of this survey is greater than 10 million,

then the Total expenses and deductions reported for Depreciation must be greater than 0.

• If your institution is NOT an administrative office and the Long term debt reported in Part A of this survey is

greater than 10 million, then the Total expenses and deductions reported for Interest must be greater than 0.

• The amount reported each expense type for Total expenses and deductions is expected to be within a 50%

range of the corresponding Prior year amount.

• The sum of Total operating revenues and Total nonoperating revenues reported in Part B of this survey is

expected to be within a 25% range of the Total amount reported for Total expenses and deductions on this

screen.

Applicable to all administrative offices

For each applicable expense type (Total amount, Salaries and wages, Employee fringe benefits, Operation and

maintenance of plant, Depreciation, and Interest), enter the amount of expenses incurred in each of the following functional

categories:

• Instruction (line 01)

• Research (line 02)

• Public service (line 03)

• Academic support (line 05)

• Student services (line 06)

• Institutional support (line 07)

• Operation and maintenance of plant (line 08)

• Scholarships and fellowships expenses (line 10)

• Auxiliary enterprises (line 11)

• Total expenses and deductions (line 19)

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 and deductions (line 14) incurred by expense type. For your

reference, the PY Total Amount for each functional category is displayed, along with the Prior year amount of Total

expenses and deductions by expense type.

Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 20). These

values are used in combination with the reported data to calculate the Total expenses and deductions per student FTE

(line 21).

The system will perform the following edits on the data entered:

• For all applicable functional categories, the values reported for each expense type must be less than or equal to

the Total amount (column 1) reported for that functional category.

• For lines 01 through 11 the values reported for the following expense types cannot be negative:

◦ Total amount (column 1)

◦ All other (column 7)

• For lines 07 and 11 the values reported for the following expense types cannot be negative:

◦ Salaries and wages (column 2)

◦ Employee fringe benefits (column 3; as well as for line 02)

◦ Depreciation (column 5)

• If the amount of Tuition and fees reported on the Operating Revenues screen 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

◦ Salaries and wages

◦ Employee fringe benefits

◦ Depreciation

• If the amount of Tuition and fees reported on the Operating Revenues screen in Part B of this survey is equal

to 0, then the values reported for Public service (line 03) on this screen are also expected to be equal to 0 for

the following expense types:

◦ Total amount

◦ Salaries and wages

◦ Employee fringe benefits

◦ Depreciation

• 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 in this column for the Operation and maintenance of plant category (line

08) must be less than or equal to 0.

• 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 reported for Auxiliary enterprises (line 11) on this

screen is also expected to be equal to 0.

• The calculated amount of Other expenses and deductions (line 14) cannot be negative for any expense type.

• If the Total expenses and deductions entered for Depreciation (column 5) is greater than 1 million, then the

amount calculated for Other expenses (line 14) must be less than 50% of the total amount.

• If the Total expenses and deductions entered for Interest (column 5) is greater than 1 million, then the

amount calculated for Other expenses (line 14) must be less than 50% of the total amount.

• An amount must be entered for each expense type for Total expenses and deductions (line 19).

• For Total expenses and deductions, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1)

◦ Salaries and wages (column 2)

◦ Employee fringe benefits (column 3)

◦ All other (column 7)

• The amount reported for each expense type for Total expenses and deductions cannot be equal to the

corresponding Prior year amount.

• If the Total for Plant Property and Equipment reported in Part A of this survey is greater than 10 million,

then the Total expenses and deductions reported for Depreciation must be greater than 0.

• The Total amount reported for Total expenses and deductions is expected to be within a 50% range of the

corresponding Prior year amount.

Applicable to non-degree-granting institutions

For each applicable expense type (Total amount, Salaries and wages, Employee fringe benefits, Operation and

maintenance of plant, Depreciation, and Interest), enter the amount of expenses incurred in each of the following functional

categories:

• Instruction (line 01)

• Research (line 02)

• Public service (line 03)

• Academic support (line 05)

• Student services (line 06)

• Institutional support (line 07)

• Operation and maintenance of plant (line 08)

• Scholarships and fellowships expenses (line 10)

• Total expenses and deductions (line 19)

Upon saving the screen, the system will use the above values to calculate the amount of All other expenses (column 7)

incurred within each functional category, and the amount of Other expenses and deductions (line 14) by expense type. For

your reference, the PY Total Amount for each functional category is displayed, along with the Prior year amount of Total

expenses and deductions by expense type.

Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 20). These

values are used in combination with the reported data to calculate the Total expenses and deductions per student FTE

(line 21).

The system will perform the following edits on the data entered:

• For all applicable functional categories, the values reported for each expense type must be less than or equal to

the Total amount (column 1) reported for that category.

• For lines 01 through 11, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1)

◦ Salaries and wages (column 2)

◦ Employee fringe benefits (column 3)

◦ Depreciation (column 5)

◦ All other (column 7)

• The Total amount reported for Instruction (line 01) is expected to be greater than 0.

• If the PY Total Amount displayed for Instruction is greater than 0, then the current year Total amount is

expected to be within a 50% range of that amount.
• If your institution is NOT and administrative office, the amount reported for the Operation and maintenance of

plant expense type (column 4) in the Operation and maintenance of plant category (line 08) is less than -1

million, and that value is not equal to 0, then the negative of the amount allocated to Instruction (line 01)

divided by column 4 line 8 should be between 10% and 70%.

• If the Total expenses and deductions entered 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 your institution is NOT an administrative office and the Total expenses and deductions entered 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.

• The Total amount entered for Research (line 2) is expected to be within a 50% range of the PY Total Amount.

• A Total amount must be entered for Academic support (line 05).

• The Total amount reported for Academic support is expected to be greater than 0.

• A Total amount must be entered for Student services (line 06).

• The Total amount reported for Student services is expected to be greater than 0.

• A Total amount must be entered for Institutional support (line 07).

• The Total amount reported for Institutional support is expected to be greater than 0.

• If the Total for Plant, Property and Equipment calculated on the Statement of Net Assets, Page 2 screen in

Part A is greater than 10 million, then the amount reported on this screen for the Operation and maintenance

of plant expense type (column 4) in the Operation and maintenance of plant category (line 08) must be

negative.

• 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 in this column for the Operation and maintenance of plant category (line

08) must be less than or equal to 0.

• The calculated amount of Other expenses and deductions (line 14) cannot be negative for any expense type.

• If the Total expenses and deductions entered for Depreciation (column 5) is greater than 1 million, then the

amount calculated for Other expenses (line 14) must be less than 50% of the total amount.

• If the Total expenses and deductions entered for Interest (column 5) is greater than 1 million, then the

amount calculated for Other expenses (line 14) must be less than 50% of the total amount.

• An amount must be entered for each expense type for Total expenses and deductions (line 19).

• For Total expenses and deductions, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1)

◦ Salaries and wages (column 2)

◦ Employee fringe benefits (column 3)

◦ All other (column 7)

• The Total amount reported for Total expenses and deductions cannot be equal to the corresponding Prior

year amount.

• If the Total for Plant Property and Equipment reported in Part A of this survey is greater than 10 million,

then the Total expenses and deductions reported for Depreciation must be greater than 0.

• If your institution is NOT an administrative office and the Long term debt reported in Part A of this survey is

greater than 10 million, then the Total expenses and deductions reported for Interest must be greater than 0.

• The amount reported for each expense type for Total expenses and deductions is expected to be within a 50%

range of the corresponding Prior year amount.

• The sum of Total operating revenues and Total nonoperating revenues reported in Part B of this survey is

expected to be within a 25% range of the Total amount reported for Total expenses and deductions on this

screen.

• If your institution is a 4-year institution, and the 12-month Student FTE from E12 (line 20) is greater than 0,

then the Total amount reported for Total expenses and deductions (line 19) is expected to be within a range

of 8,000 to 500,000 times the value of the 12-month Student FTE from E12.

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Part D: Summary of Changes in Net Assets

Applicable to institutions that are NOT children or partial parents

On this screen, you must report details about your institution’s changes in net assets for the most recent 12-month fiscal year.

Enter the Current year amount for Net assets beginning of year (line 04).

The values for Total Revenues and other additions (from Part B),Total expenses and deductions (from Part C), and Net

assets end of year (from Part A) are preloaded for your reference. 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 calculated value for Change in net assets during year (line 03) is expected to be greater than 0.

• The calculated value for Adjustments to beginning net assets (line 05) is expected to be between -10 million

and 10 million.

• The Prior year amount of Net assets end of year (line 06) is expected to be equal to Net Assets beginning

of year (line 04).

Applicable to institutions that are partial parents

On this screen, you must report details about changes in net assets for your institution and all of its children for the most

recent 12-month fiscal year.

Enter the Current year amount for each of the following:

• Total revenues and other additions (line 01)

• Total expenses and deductions (line 02)

• Net assets beginning of year (line 04)
The value for Net assets end of year (from Part A) is displayed for your reference. Upon saving the screen, the system uses

the above values to calculate additional information which may be used throughout this survey.

The system will perform the following edits on the data entered:

• The value reported for Total revenues and other additions (line 01) on this screen must be greater than the

calculated Total all revenues and other additions on the Other Revenues screen in Part B of this survey.

• The value reported for Total expenses and deductions (line 02) on this screen must be greater than the Total

amount reported for Total expenses and deductions in Part C of this survey.

• The calculated value for Adjustments to beginning net assets (line 05) is expected to be between -10 million

and 10 million.

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Part H: 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.

• A value greater than 0 must be entered for Endowment assets at the end of the fiscal year (line 02).

• 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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Part J: Census Revenue Data

On this screen, you must report your institution’s revenue data for the U.S. Census Bureau for the most recent 12-month fiscal

year.

For each applicable expense type (Total for all funds and operations, Education and general/independent operations,

Auxiliary enterprises, Hospitals, and Agriculture extension/experiment services), enter an amount for each of the

following source types:

• Sales and Services (line 02)

• Federal grant and contracts, excludes Pell grants (line 03)

• State appropriations, current and capital (line 04)

• State grants and contracts (line 05)

• Local appropriation, current and capital (line 06)

• Local government grants and contracts (line 07)

• Receipts from property and non-property taxes (line 08)

• Gifts and private grants, including capital grants (line 09)

• Interest earnings (line 10)

• Dividend earnings (line 11)

• Realized capital gains (line 12)

No edits are performed on the data entered on this screen.

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Part K: Census Expenditure Data

On this screen, you must report your institution’s expenditure data for the U.S Census Bureau for the most recent 12-month

fiscal year.

For each applicable type of revenue (Total for all funds and operations, Education and general/independent operations

, Auxiliary enterprises, Hospitals, and Agriculture extension/experiment services), enter an amount for each of the

following source types:

• Salaries and wages (line 01)

• Employee benefits, total (line 02)

• Payment to state retirement funds, may be included in employee benefits (line 03)

• Current expenditures other than salaries (line 04)

• Construction (line 05)

• Equipment purchases (line 06)

• Land purchases (line 07)

• Interest on debt outstanding, all funds and activities (line 08)

No edits are performed on the data entered on this screen.

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Part L: Debt and Assets

For Part L, you must report your institution’s debt and assets for the U.S Census Bureau for the most recent 12-month fiscal

year.

Debt

Enter an amount for each of the following categories related to your institution’s debt:

• Long-term debt outstanding at beginning of fiscal year (line 01)

• Long-term debt issued during fiscal year (line 02)
• Long-term debt retired during fiscal year (line 03)

• Long-term debt outstanding at end of fiscal year (line 04)

• Short-term debt outstanding at beginning of fiscal year (line 05)

• Short-term debt outstanding at end of fiscal year (line 06)

No edits are performed on the data entered on this screen.

Assets

Enter an amount for each of the following categories related to your institution’s assets:

• Total cash and security assets held at end of fiscal year in sinking or debt service funds (line 07)

• Total cash and security assets held at end of fiscal year in bond funds (line 08)

• Total cash and security assets held at end of fiscal year in all other funds (line 09)

No edits are performed on the data entered on this screen.

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2012-13 Survey Materials > Form date: 12/4/2012

Finance for degree granting private, not-for-profit institutions and public

institutions using FASB Reporting Standards

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, 2012.)

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 Qualified (Explain in box

below)

Don't know (Explain in box below) 

3. Does this institution or any of its foundations or other affiliated organizations own endowment assets ?

 Yes (report endowment assets) 

No

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?

 Pass through (agency) Federal grant revenue Does not award Pell grants 

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 2012

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 Property, plant, and equipment, net of accumulated

depreciation

 

20 Intangible assets, net of accumulated amortization 

02 Total assets 

Liabilities

03 Total liabilities 

03a Debt related to Property, Plant, and Equipment 

Net assets

04 Unrestricted net assets 

05 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 2012

Line

No.

Plant, Property and Equipment

Ending

balance

Prior year Ending

balance

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)]

 

18 Accumulated depreciation 

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.
Part B - Summary of Changes in Net Assets 

Most recent fiscal year ending before October 2012

Line No. Revenues, Expenses, Gains and Losses Current year amount Prior year amount

01 Total revenues and investment return 

02 Total expenses 

03 Other specific changes in net assets

CV=[B04-(B01-B02)]

 

04 Change in net assets 

05 Net assets, beginning of year 

06 Adjustments to beginning of year net

assets

CV=[B07-(B04+B05)]

 

07 Net assets, end of year (from A06) 

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 2012

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 Total scholarships and fellowships

CV=[C01+...+C06]

 

08 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 2012

Line

No. Source of Funds Total

Amount

Unrestricted Temporarily

restricted

Permanently

restricted

Prior Year

Total

Amount

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.
Part E - Expenses by Functional and Natural Classification 

Most recent fiscal year ending before October 2012

Report Total Operating AND Non-Operating Expenses in this section

(1) (2) (3) (4) (5) (6) (7) (8)

Line

No.

Expenses by

Functional

Classification

Total

amount

Salaries

and wages

Benefits Operation

and

maintenance

of plant

DepreciationInterest All

other

PY

Total

Amount

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

maintenance of plant

(see instructions)

0 

12 Other expenses

CV=[E13-(E01+...+E11)]

 

13 Total expenses

(from B02)

 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.
Part H - Value of Endowment Assets 

Most recent fiscal year ending before October 2012

Line

No.

Value of Endowment Assets Market

Value

Prior Year

Amounts

 Include not only endowment assets held by the institution, but any assets held

by private foundations affiliated with the institution.

01 Value of endowment assets at the beginning of the fiscal year 

02 Value of endowment assets at the end of the fiscal year 

You may use the space below to provide context for the data you've reported above.
Prepared by 

This survey component was prepared by:

 

Keyholder

 

SFA Contact

 

HR Contact

 

Finance Contact

 

Other

Name:

Email:

How long did it take to prepare this survey component? hours minutes

The name of the preparer is being collected so that we can follow up with the appropriate person in the event that there

are questions concerning the data. The Keyholder will be copied on all email correspondence to other preparers.

The time it took to prepare this component is being collected so that we can continue to improve our estimate of the

reporting burden associated with IPEDS. Please include in your estimate the time it took for you to review instructions,

query and search data sources, complete and review the component, and submit the data through the Data Collection

System.

Thank you for your assistance.
2012-13 Survey Materials > Instructions date: 12/4/2012

Finance Not-for-Profit (FASB)

Purpose of component

Changes in Reporting

General Information and Instructions

Context boxes

Coverage

GetHelp

Where to get additional help for reporting finance

Where data appears

Detailed Instructions

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 Endowment Assets

Parent Child Instructions

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

Changes in Reporting

There are no changes in reporting for the 2012-13 finance data collection.
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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, 2012. For institutions with fiscal years ending on

December 31, this would be the calendar year 2011.

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 Universities' Business

Officers (NACUBO). To provide additional help, accounting terms are underlined and colored blue.

These terms are linked to definitions found in the on-line 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.

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.

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 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.

Where to Get Help

IPEDS Data Collection Help Desk

Phone: 1-877-225-2568

Email: ipedshelp@rti.org

AIR Website

You can also consult the AIR website that contains several tutorials on IPEDS data collection, a self-paced

overview of IPEDS tools and other valuable resources.

IPEDS Resources Page

In addition, the IPEDS Resources Page contains frequently asked questions, a link to the glossary, data tip

sheets, an archive of survey instruments, information on the new race/ethnicity categories and other relevant

information.
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Where to Get Additional Get 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.

Where the 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

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

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.

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. This question

is optional for the fiscal year 2005 collection.

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.

OR

• 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.

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.

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 long-term 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, postretirement healthcare benefit obligations, severance obligations, and similar post-retirement and postemployment 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. 

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.

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. 

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 undergraduate 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." 

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 Supplemental Education Opportunity Grants (SEOG), DHHS training grants

(aid portion only), DOD grants, Department of Veterans Affairs grants, and the federal protion 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 Work Study amounts.

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 07 equals gross auxiliary enterprise revenue. (FARM 460)

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 donorimposed 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 donor-imposed 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 federally-funded 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.

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 online at:

http://www.nacubo.org/Business_and_Policy_Areas/Accounting/Advisory_Reports/Advisory_Report

_2010-

1_Public_Institution_Methodologies_for_Allocation_Depreciation_Operation_and_Maintenance_of_P

lant_and_Interest_Expense-x11205-ml.html.

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.

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.

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 Parent Institution Child Institution

Part A – Statement of Financial Position Reports sum of Parent and Child

data

Does not report
Part B – Summary of Changes in Net

Assets

Reports sum of Parent and Child

data

Does not report

Part C – Scholarships and Fellowships Reports parent data only Reports child data only

Part D – Revenues and Investment ReturnReports parent data only Reports child data only

Part E – Expenses by Functional and

Natural Classification

Reports parent data only Reports child data only

Part H - Value of Endowment Assets Reports parent 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.
Glossary date: 12/4/2012

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.

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.

Benefits Payments made to or on behalf of an individual over and above that received in the form of a salary

or wage. Frequently this is associated with an insurance payment.

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.

Construction in progress Capital assets under construction or development that have not yet been placed into service, such as

a building or parking lot. Capital assets are not subject to depreciation while in a construction in

progress status.

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.

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.

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 grants

(grants/educational

assistance funds)
Grants provided by federal agencies such as the U.S. Department of Education, including Title IV Pell

Grants and Supplemental Educational Opportunity Grants (SEOG). Also includes need-based and

merit-based educational assistance funds and training vouchers provided from other federal agencies

and/or federally-sponsored educational benefits programs. (Used for reporting on the Student

Financial Aid component)

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.

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 grants Local monies awarded to the institution under local government student aid programs .

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. GASB institutions classify net assets into three categories: invested in

capital, net of related debt; restricted (with separate displays of restricted-expendable and restrictednonexpendable net assets); and unrestricted. Although the terms are similar, the composition of the

categories of net assets between FASB and GASB institutions can differ significantly.

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

(expenses -- FASB and

GASB aligned form

reporters)

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. FASB institutions do not use this function. Instead these expenses are

charged to or allocated to other functions.

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.

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.

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 & 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.

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)

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.

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.
2012-13 Survey Materials > F.A.Q. date: 12/4/2012

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 received funds from the American Recovery and Reinvestment Act (ARRA). Where should they be reported?

4) We haven’t been audited yet and won’t have an audited financial statement until May. Do I still have to fill this out?

5) What period should the finance survey cover?

7) How do I know what reporting standards are used to prepare the financial statements?

8) What happens if I respond incorrectly to the reporting standards screening question?

9) What is the difference between “business-type” activities and “governmental” activities?

10) What is combined ("parent/child") reporting and how does it work?

11) Can a system office report combined data?

12) When does a system office need to report data?

13) 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?

14) My institution does not award degrees. Do we still need to complete the Finance component?

15) 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?

16) 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) I see the term CV on several lines of the finance survey. What is this referring to?

3) What are operating versus nonoperating revenues?

4) We reported federal appropriations in operating revenues rather than non-operating revenues in our financial statements. How

should I report them on IPEDS?

5) What are some examples of independent operations?

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) What are discounts and allowances (Part E)? (We don’t discount our tuition.)

8) We do not capitalize our library. Do I report it on Part A page 2?

9) Why does operation and maintenance of plant appear as both a row and column in Part C (expenses and other deductions)?

10) 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?

11) If my institution is a GASB-reporter, where should my institution report the gain or loss on the sale of a plant asset?

12) Where did component units go?

Private Not-for-Profit and Public Institutions Using FASB

1) My institution is primarily a hospital with a small instruction program. How should I report the hospital part of my institution?

2) What are some examples of independent operations?

3) What value do I use to report plant, property, and equipment on the second page of Part A?

4) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?

5) I see the term CV on several lines of the finance survey. What is this referring to?

6) What is the difference between funded and unfunded institutional grants as reported on the Student Grants part of the survey?

7) What are allowances in Part C (Scholarships and Fellowships)?

8) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?

Private for-profit institutions

1) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?

2) I see the term CV on several lines of the finance survey. What is this referring to?

3) What are allowances in Part C (Student Grants)?

4) 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?

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 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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4) 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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5) 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, 2012. 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, 2012. If your institution’s fiscal year ends on December 31, your financial

statements for the year ending December 31, 2011 would be used.

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7) 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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8) 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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9) 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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10) 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_03072007_2.asp for more information on parent/child

relationships.

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11) 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_03072007_2.asp. If a system will be reporting this

way, they must contact the Help Desk before reporting combined data.

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12) 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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13) 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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14) 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. A more detailed description can be found at

http://nces.ed.gov/ipeds/submit_data/changes0910.asp

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15) 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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16) 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 winter 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) 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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3) 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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4) 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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5) 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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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. Nonoperating expenses, such as

interest on debt, should be reported on Part C.

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7) 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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8) 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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9) 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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10) 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/Business_and_Policy_Areas/Accounting/Advisory_Reports/Advisory_Report_2010-

1_Public_Institution_Methodologies_for_Allocation_Depreciation_Operation_and_Maintenance_of_Plant_and_

Interest_Expense-x11205-ml.html. to assist public institutions to develop 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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11) 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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12) Where did component units go?

Separate reporting was eliminated when institutions moved to the new aligned reporting that was

mandatory starting in 2010-11.

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Private Not-for-Profit and Public Institutions Using FASB

1) 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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2) 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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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) 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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5) 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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6) What is the difference between funded and unfunded institutional grants as reported on the Student Grants 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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7) 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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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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Private for-profit institutions

1) 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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2) 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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3) What are allowances in Part C (Student Grants)?

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) 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 functional categories listed for expenses are recommended by the National Association of College and

University Business Officers (NACUBO). You should do your best to determine which of these functional

categories are most fitting for your institutions. If you need further assistance classifying your expenses,

please call the Help Desk.

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2012-13 Survey Materials > Narrative Edits date: 12/4/2012

Finance for degree granting private, not-for-profit institutions and public institutions using

FASB Reporting Standards

Edit specifications for the 2012-13 IPEDS Web-Based Data Collection

Finance Component

Applicable to Public and Private not-for-profit FASB-reporting institutions

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

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 GASB-reporting institutions.

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, 2012.

• 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, 2012.

• 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.)

• Applicable to degree-granting institutions

Does your institution or any of its foundations or other affiliated organizations own endowment assets? Choose

Yes or No.

◦ If Yes is selected, an additional screen will be provided to report these assets in Part H.

• Applicable to degree-granting institutions

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 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 2010 or 2011.
• The Year entered for the Ending date of the fiscal year should be either 2011 or 2012.

• The fiscal year Beginning date cannot be earlier than September 2010

• The fiscal year Ending date cannot be later than October 2012.

• 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 children

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.

• The amount reported for Total assets cannot be equal to the corresponding Prior year amount.

• A value must be entered for Total liabilities (line 03).

• The amount reported for Total liabilities cannot be equal to 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 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 is expected to be less than or equal to the value reported for

Total assets (line 02).

• The calculated amount of 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 Permanently restricted net assets (line 05a) is expected to be less than the calculated

value of Total restricted net assets (line 05).

• The value reported for Temporarily restricted net assets (line 05b) cannot be negative.

• A valu must be entered for Total net assets (line 06).

• The calculated amount of Total net assets is expected to be greater than 0.

• If the Prior year amount of Total net assets is greater than 0, then the current year value is expected to be

within a 50% range of that amount.

• The calculated amount of Total net assets 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 value reported for Total Plant, Property, and Equipment(line 17) is expected to be greater than 0.
• The Property, Plant, and Equipment, net of accumulated depreciation value (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

Applicable to institutions that are NOT children or partial parents

On this screen, you must report details about your institution’s changes in net assets for the most recent 12-month fiscal year.

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:

• 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 or equal to 0, then the

current year value is expected to be within a 50% range of that amount.

• A value must be entered for Total expenses (line 02).

• The value reported for Total expenses must be greater than 0.

• The amount reported for Total expenses cannot be equal to the corresponding Prior year amount.

• If the Prior year amount of Total expenses is greater than or equal to 0, then the current year value is

expected to be within a 50% range of 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 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.

• The calculated amount of Adjustments to beginning of year net assets (line 06) is expected to be between -

10 million and 10 million.

• 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.

Applicable to institutions that are partial parents

On this screen, you must report details about changes in net assets for your institution and all of its children for the most

recent 12-month fiscal year.

Enter the Current year amount for each of the following:

• Total revenues and investment return (line 01)

• Total expenses (line 02)

• Changes 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. The value for Net assets, end of year (from Part A) is displayed for your reference.

The system will perform the following edits on the data entered:

• The value reported for Total revenues and investment return (line 01) on this screen must be greater than

the Total Amount reported for Total revenues and investment return in Part D of this survey.

• The value reported for Total expenses (line 02) on this screen must be greater than the Total amount reported

for Total expenses in Part E of this survey.

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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 12-

month 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:

• The value reported for Pell grants (line 01) is expected to be greater than 0.

• If the Prior year amount of Pell grants is greater than 0, then the current year value is expected to be within a

50% range of that amount.

• A value must be entered for Institutional grants, funded (line 05).

• The calculated amount of Total scholarships and fellowships (line 07) is expected to be greater than 0.
• The amount reported for Total scholarships and fellowships cannot be equal to the corresponding Prior year

amount.

• If the Prior year amount of Total scholarships and fellowships is greater than 0, then the current year value

is expected to be within a 50% range of that amount.

• If the calculated amount of Total scholarships and fellowships (line 07) is greater than 0, then Allowances

(scholarships) applied to tuition and fees (line 08) is expected to be greater than 0.

• The value reported for Allowances (scholarships) applied to tuition and fees must be less than or equal to

the calculated amount of Total scholarships and fellowships (line 07).

• The calculated amount of 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).

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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 degree-granting 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:

• 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)

• 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 by the system.

Upon saving the screen, the system will use the above values to calculate a Total Amount for all other sources 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). These

values are 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.

• If the Prior Year Total Amount of Tuition and fees is greater than 0, then the current year value is expected

to be within a 50% range of that amount.

• For Federal grants and contracts (line 05), a value must be entered for each restriction type.

• If 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 on this screen is expected to be greater than or equal to that amount.

• The Total Amount calculated for Private gifts, grants and contracts (line 08) cannot be negative.

• For Private gifts (line 08a), a value must be entered for each restriction type.

• The Total Amount calculated for Private gifts cannot be negative.

• For Private grants and contracts (line 08b), a value must be entered for each restriction type.

• The Total Amount calculated for Private grants and contracts cannot be negative.

• The Total Amount calculated for Investment Return (line 10) cannot 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, and the Prior Year Total Amount of Total revenues and

investment return is greater than or equal to 0, then the current year value is expected to be within a 50%

range of that amount.

• If the Total Amount of Total revenues and investment return (line 16) is greater than 100 million, then the

Total Amount calculated for Sales and services of educational activities (line 11) is expected to be greater

than 0.

• The Total Amount calculated for Hospital Revenue (line 13) is expected to be less than 75% of the Total

Amount of 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 is expected to be less than 75% of the Total Amount of Total

revenues and investment return (line 16).
• The Total Amount of 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 value reported under Permanently restricted revenue for Net assets released from restriction (line 17)

must be equal to 0.

• If the 12-month student FTE from E12 (line 19) amount displayed is greater than 0, then the Total Amount of

Total revenues and investment return (line 16) is expected to be between -100,000 and 500,000.

Applicable to 2-year degree-granting 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:

• 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 by the system.

Upon saving the screen, the system will use the above values to calculate a Total Amount for all other sources 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). These

values are 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.

• If the Prior Year Total Amount of Tuition and fees is greater than 0, then the current year value is expected

to be within a 50% range of that amount.

• For Federal grants and contracts (line 05), a value must be entered for each restriction type.

• If 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 on this screen is expected to be greater than or equal to that amount.

• The Total Amount calculated for Private gifts, grants and contracts (line 08) cannot be negative.

• For Private gifts (line 08a), a value must be entered for each restriction type.

• The Total Amount calculated for Private gifts cannot be negative.

• For Private grants and contracts (line 08b), a value must be entered for each restriction type.

• The Total Amount calculated for Private grants and contracts cannot be negative.

• The Total Amount calculated for Investment Return (line 10) cannot 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, and the Prior Year Total Amount of Total revenues and

investment return is greater than or equal to 0, then the current year value is expected to be within a 50%

range of that amount.

• 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 75% of the Total

Amount of Total revenues and investment return (line 16).

• The Total Amount reported for Total revenues and investment return must be equal to the sum of the values

reported on this line for each restriction type.

• The value reported under Permanently restricted revenue for Net assets released from restriction (line 17)

must be equal to 0.

• If your institution is not an administrative office and the 12-month student FTE from E12 (line 19) amount

displayed is greater than 0, then the Total Amount of Total revenues and investment return (line 16) is

expected to be less than 60,000.

Applicable to non-degree-granting 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:

• 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 all other sources 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), along with

the corresponding values for Undergraduates and Graduates. These values are 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.

• If the Prior Year Total Amount of Tuition and fees is greater than 0, then the current year value is expected

to be within a 50% range of that amount.

• For Federal grants and contracts (line 05), a value must be entered for each restriction type.

• If 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 on this screen is expected to be greater than or equal to that amount.

• The Total Amount calculated for Private gifts, grants and contracts (line 08) cannot be negative.

• For Private gifts (line 08a), a value must be entered for each restriction type.

• The Total Amount calculated for Private gifts cannot be negative.

• For Private grants and contracts (line 08b), a value must be entered for each restriction type.

• The Total Amount calculated for Private grants and contracts cannot be negative.

• The Total Amount calculated for Investment Return (line 10) cannot be negative.

• The Total Amount reported for Total revenues and investment return (line 16) must be greater than 0.

• If the Prior Year Total Amount of Total revenues and investment return is greater than or equal to 0, then

the current year value is expected to be within a 50% range of that amount.

• 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 75% of the Total

Amount of Total revenues and investment return (line 16).

• The Total Amount reported for Total revenues and investment return must be equal to the sum of the values

reported on this line for each restriction type.

• The value reported under Permanently restricted revenue for Net assets released from restriction (line 17)

must be equal to 0.

• If your institution is a 4-year institution and the 12-month student FTE from E12 (line 19) amount displayed is

greater than 0, then the Total Amount of Total revenues and investment return (line 16) is expected to be

between -100,000 and 500,000.

• If your institution is a less-than-4-year institution and the 12-month student FTE from E12 (line 19) amount

displayed is greater than 0, then the Total Amount of Total revenues and investment return (line 16) is

expected to be less than 60,000.

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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 degree-granting institutions

For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,

Depreciation, and Interest), enter the amount of 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)

• Hospital services (line 09)

• Independent operations (line 10)

• Operation and maintenance of plant (line 11)

• Total expenses (line 13)

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 by the system.

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), along with

the corresponding values for Undergraduates and Graduates. These values are 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:

• For all applicable functional categories, the values reported for each expense type must be less than or equal to

the Total amount (column 1) reported for that category.

• For lines 01 through 10, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1; with the exception of lines 02 and 03)

◦ Salaries and wages (column 2)

◦ Benefits (column 3)

◦ Operation and maintenance of plant (column 4)

◦ Depreciation (column 5)

◦ Interest (column 6)

• For the All other (column 7) expense type, the reported value cannot be negative for any functional category.

• A Total amount must be entered for Instruction (line 01).

• The Total amount reported for Instruction is expected to be greater than 0.

• If the PY Total Amount displayed for Instruction is greater than 0, then the current year Total amount is

expected to be within a 50% range of that value.

• A value must be entered for the amount of Salaries and wages (column 2) allocated to Instruction.

• The amount of Salaries and wages allocated to Instruction is expected to 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 in this column for

Instruction (line 01) must be within a range of -10% to -70% of the absolute value of that amount.

• If the amount of Depreciation (column 5) reported in the Total expenses category (line 13) is greater than 1

million, then the amount of Depreciation allocated to Instruction (line 01) must be within a range of 10% to

70% of that value.

• If the amount of Interest (column 6) reported in the Total expenses category is greater than 1 million, then the

amount of Interest allocated to Instruction (line 01) must be within a range of 10% to 70% of that value.

• For lines 04 through 06, the following expense types are not expected to be blank:

◦ Total amount

◦ Salaries and wages

• The Total amount reported for Student services (line 05) is expected to be greater than 0.

• The Total amount reported for Institutional support (line 06) is expected to be greater than 0.

• If the value reported for Sales and services of auxiliary enterprises in Part D of this survey is equal to 0,

then the Total amount 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 must be less than or equal to the difference between

Total scholarships and fellowships and Allowances (scholarships) applied to tuition and fees and

auxiliary enterprises reported in Part C of this survey.

• If the value reported for Hospital revenue in Part D of this survey is equal to 0, then the Total amount

reported for Hospital services (line 09) on this screen is also expected to be equal to 0.

• If the value reported for Independent operations revenue in Part D of this survey is equal to 0, then the

Total amount reported for Independent operations (line 10) on this screen is also expected to be equal to 0.

• If the Total Plant, Property, and Equipment value calculated on the Statement of Financial Position, Page

2 screen in Part A of this survey is greater than 10 million, then the amount reported on this screen 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 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 in this column for the Operation and maintenance of plant category (line

11) must be less than or equal to 0.

• For lines 12 and 13, the reported value cannot be negative for any expense type.

• The calculated Total amount of Other expenses (line 12) is expected to be no more than 75% of the Total

amount of Total expenses (line 13).

• If the amount of Depreciation (column 5) reported for Total expenses (line 13) is greater than 1 million, then

the calculated amount of Depreciation in the Other expenses category (line 12) must be less than 50% of that

value.

• If the amount of Interest (column 6) reported for Total expenses is greater than 1 million, then the calculated

amount of Interest in the Other expenses category must be less than 50% of that value.

• For Total expenses (line 13), a value must be entered for each expense type.

• For Total expenses, the value reported for each expense type is expected to be within a 50% range of the

corresponding Prior year total expenses amount.

• If your institution is a partial child or partial parent, then the Total amount reported for Total expenses must

be greater than 0.

• If your institution is a partial child or partial parent, then the Total amount reported for Total expenses cannot

be equal to the corresponding Prior year amount.

• If your institution is a partial child or partial parent, and the Total amount reported for Total expenses 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 Plant, Property, and Equipment value calculated on the Statement of Financial Position, Page

2 screen in Part A of this survey is greater than 10 million, then the amount reported on this screen for

Depreciation (column 5) in the Total expenses category (line 13) must be greater than 0.

• If the value reported for Debt related to Property, Plant, and Equipment on the Statement of Financial

Position, Page 1 screen in Part A of this survey is greater than 10 million, then the amount reported on this

screen for Interest (column 6) in the Total expenses category (line 13) must be greater than 0.

• If the 12-month Student FTE from E12 is greater than 0, then the Total amount of Total expenses minus

the Total amount reported for Hospital services (line 09) is expected to be within a range of 6,000 to 500,000

times the value of the 12-month Student FTE from E12.

Applicable to 2-year degree-granting institutions

For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,

Depreciation, and Interest), enter the amount of 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)

• Total expenses (line 13)

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 by the system.

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). These

values are 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:

• For all applicable functional categories, the values reported for each expense type must be less than or equal to

the Total amount (column 1) reported for that category.

• For lines 01 through 08, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1; with the exception of lines 02 and 03)

◦ Salaries and wages (column 2)

◦ Benefits (column 3)

◦ Operation and maintenance of plant (column 4)

◦ Depreciation (column 5)

◦ Interest (column 6)

• For the All other (column 7) expense type, the reported value cannot be negative for any functional category.

• A Total amount must be entered for Instruction (line 01).

• The Total amount reported for Instruction is expected to be greater than 0.

• If the PY Total Amount displayed for Instruction is greater than 0, then the current year Total amount is

expected to be within a 50% range of that value.

• A value must be entered for the amount of Salaries and wages (column 2) allocated to Instruction.

• The amount of Salaries and wages allocated to Instruction is expected to 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 in this column for

Instruction (line 01) must be within a range of -10% to -70% of the absolute value of that amount.

• If the amount of Depreciation (column 5) reported in the Total expenses category (line 13) is greater than 1

million, then the amount of Depreciation allocated to Instruction (line 01) must be within a range of 10% to

70% of that value.

• If the amount of Interest (column 6) reported in the Total expenses category is greater than 1 million, then the

amount of Interest allocated to Instruction (line 01) must be within a range of 10% to 70% of that value.

• For lines 04 through 06, the following expense types are not expected to be blank:

◦ Total amount

◦ Salaries and wages

• The Total amount reported for Student services (line 05) is expected to be greater than 0.

• The Total amount reported for Institutional support (line 06) is expected to be greater than 0.

• If the value reported for Sales and services of auxiliary enterprises in Part D of this survey is equal to 0,

then the Total amount 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 must be less than or equal to the difference between

Total scholarships and fellowships and Allowances (scholarships) applied to tuition and fees reported in

Part C of this survey.

• If the Total Plant, Property, and Equipment value calculated on the Statement of Financial Position, Page

2 screen in Part A of this survey is greater than 10 million, then the amount reported on this screen 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 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 in this column for the Operation and maintenance of plant category (line

11) must be less than or equal to 0.

• For lines 12 and 13, the reported value cannot be negative for any expense type.

• The calculated Total amount of Other expenses (line 12) is expected to be no more than 75% of the Total

amount of Total expenses (line 13).

• If the amount of Depreciation (column 5) reported for Total expenses (line 13) is greater than 1 million, then

the calculated amount of Depreciation in the Other expenses category (line 12) must be less than 50% of that

value.

• If the amount of Interest (column 6) reported for Total expenses is greater than 1 million, then the calculated

amount of Interest in the Other expenses category must be less than 50% of that value.

• For Total expenses (line 13), a value must be entered for each expense type.

• For Total expenses, the value reported for each expense type is expected to be within a 50% range of the

corresponding Prior year total expenses amount.

• If your institution is a partial child or partial parent, then the Total amount reported for Total expenses must

be greater than 0.

• If your institution is a partial child or partial parent, then the Total amount reported for Total expenses cannot

be equal to the corresponding Prior year amount.

• If your institution is a partial child or partial parent, and the Total amount reported for Total expenses 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 Plant, Property, and Equipment value calculated on the Statement of Financial Position, Page

2 screen in Part A of this survey is greater than 10 million, then the amount reported on this screen for

Depreciation (column 5) in the Total expenses category (line 13) must be greater than 0.

• If the value reported for Debt related to Property, Plant, and Equipment on the Statement of Financial

Position, Page 1 screen in Part A of this survey is greater than 10 million, then the amount reported on this

screen for Interest (column 6) in the Total expenses category (line 13) must be greater than 0.

• If the 12-month Student FTE from E12 is greater than 0, then the Total amount of Total expenses is

expected to be within a range of 6,000 to 45,000 times the value of the 12-month Student FTE from E12.

Applicable to all administrative offices

For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,

Depreciation, and Interest), enter the amount of 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)

• Total expenses (line 13)

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 by the system.

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), along with

the corresponding values for Undergraduates and Graduates. These values are 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:

• For all applicable functional categories, the values reported for each expense type must be less than or equal to

the Total amount (column 1) reported for that category.

• For lines 01 through 08, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1; with the exception of lines 02 and 03)

◦ Salaries and wages (column 2)

◦ Benefits (column 3)

◦ Operation and maintenance of plant (column 4)

◦ Depreciation (column 5)

◦ Interest (column 6)

• For the All other (column 7) expense type, the reported value cannot be negative for any functional category.

• If the PY Total Amount displayed for Instruction is greater than 0, then the current year Total amount is

expected to be within a 50% range of that value.

• If the Total Amount of revenues calculated for Tuition and fees in Part D of this survey is equal to 0, then the

amounts reported here for Instruction (line 01) are expected to be 0 or blank for all expense types.

• For lines 04 through 06, the following expense types are not expected to be blank:

◦ Total amount

◦ Salaries and wages

• The Total amount reported for Student services (line 05) is expected to be greater than 0.
• The Total amount reported for Institutional support (line 06) is expected to be greater than 0.

• If the value reported for Sales and services of auxiliary enterprises in Part D of this survey is equal to 0,

then the Total amount reported for Auxiliary enterprises (line 07) on this screen is also expected to be equal

to 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 in this column for the Operation and maintenance of plant category (line

11) must be less than or equal to 0.

• For lines 12 and 13, the reported value cannot be negative for any expense type.

• The calculated Total amount of Other expenses (line 12) is expected to be no more than 75% of the Total

amount of Total expenses (line 13).

• For Total expenses (line 13), a value must be entered for each expense type.

• For Total expenses, the value reported for each expense type is expected to be within a 50% range of the

corresponding Prior year total expenses amount.

• If your institution is a partial child or partial parent, then the Total amount reported for Total expenses must

be greater than 0.

• If your institution is a partial child or partial parent, then the Total amount reported for Total expenses cannot

be equal to the corresponding Prior year amount.

• If your institution is a 4-year institution, and the 12-month Student FTE from E12 is greater than 0, then the

Total amount of Total expenses is expected to be within a range of 6,000 to 500,000 times the value of the 12

-month Student FTE from E12.

• If your institution is a less-than-4-year institution, and the 12-month Student FTE from E12 is greater than 0,

then theTotal amount of Total expenses is expected to be within a range of 6,000 to 45,000 times the value of

the 12-month Student FTE from E12.

Applicable to non-degree-granting institutions

For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,

Depreciation, and Interest), enter the amount of 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)

• Total expenses (line 13)

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). These

values are 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:

• For all applicable functional categories, the values reported for each expense type must be less than or equal to

the Total amount (column 1) reported for that category.

• For lines 01 through 08, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1; with the exception of lines 02 and 03)

◦ Salaries and wages (column 2)

◦ Benefits (column 3)

◦ Operation and maintenance of plant (column 4)

◦ Depreciation (column 5)

◦ Interest (column 6)

• For the All other (column 7) expense type, the reported value cannot be negative for any functional category.

• A Total amount must be entered for Instruction (line 01).

• The Total amount reported for Instruction is expected to be greater than 0.

• If the PY Total Amount displayed for Instruction is greater than 0, then the current year Total amount is

expected to be within a 50% range of that value.

• A value must be entered for the amount of Salaries and wages (column 2) allocated to Instruction.

• The amount of Salaries and wages allocated to Instruction is expected to 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 in this column for

Instruction (line 01) must be within a range of -10% to -70% of the absolute value of that amount.

• If the amount of Depreciation reported in the Total expenses category (line 13) is greater than 1 million, then

the amount of Depreciation allocated to Instruction (line 01) must be within a range of 10% to 70% of that

value.

• If the amount of Interest reported in the Total expenses category is greater than 1 million, then the amount of

Interest allocated to Instruction (line 01) must be within a range of 10% to 70% of that value.

• For lines 04 through 06, a value is expected to be entered for the following expense types:
◦ Total amount

◦ Salaries and wages

• The Total amount reported for Student services (line 05) is expected to be greater than 0.

• The Total amount reported for Institutional support (line 06) is expected to be greater than 0.

• The Total amount reported for Net grant aid to students must be less than or equal to the difference between

Total scholarships and fellowships and Allowances (scholarships) applied to tuition and fees reported in

Part C of this survey.

• If the Total Plant, Property, and Equipment value calculated on the Statement of Financial Position, Page

2 screen in Part A of this survey is greater than 10 million, then the amount reported on this screen 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 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 in this column for the Operation and maintenance of plant category (line

11) must be less than or equal to 0.

• For lines 12 and 13, the reported value cannot be negative for any expense type.

• The calculated Total amount of Other expenses (line 12) is expected to be no more than 75% of the Total

amount of Total expenses (line 13).

• If the amount of Depreciation (column 5) reported for Total expenses (line 13) is greater than 1 million, then

the calculated amount of Depreciation in the Other expenses category (line 12) must be less than 50% of that

value.

• If the amount of Interest (column 6) reported for Total expenses is greater than 1 million, then the calculated

amount of Interest in the Other expenses category must be less than 50% of that value.

• For Total expenses (line 13), a value must be entered for each expense type.

• The Total amount reported for Total expenses must be greater than 0.

• The Total amount reported for Total expenses cannot be equal to the corresponding Prior year amount.

• For Total expenses, the value entered for each expense type is expected to be within a 50% range of the

corresponding Prior year total expenses amount.

• If the Total amount reported for Total expenses 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 Plant, Property, and Equipment value calculated on the Statement of Financial Position, Page

2 screen in Part A of this survey is greater than 10 million, then the amount reported on this screen for

Depreciation (column 5) in the Total expenses category (line 13) must be greater than 0.

• If the value reported for Debt related to Property, Plant, and Equipment on the Statement of Financial

Position, Page 1 screen in Part A of this survey is greater than 10 million, then the amount reported on this

screen for Interest (column 6) in the Total expenses category (line 13) must be greater than 0.

• If your institution is a 4-year institution, and the 12-month Student FTE from E12 is greater than 0, then

theTotal amount of Total expenses minus the Total amount reported for Hospital services (line 09) is

expected to be within a range of 6,000 to 500,000 times the value of the 12-month Student FTE from E12.

• If your institution is a less-than-4-year institution, and the 12-month Student FTE from E12 is greater than 0,

then the Total amount of Total expenses is expected to be within a range of 6,000 to 45,000 times the value of

the 12-month Student FTE from E12.

Top

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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2012-13 Survey Materials > Form date: 12/4/2012

Finance for degree granting private, for-profit institutions

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, 2012.)

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 Qualified (Explain in box

below)

Don't know (Explain in box

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?

 Pass through

(agency)

Federal grant revenue Does not award Pell grants 

You may use the space below to provide context for the data you've reported above.
Part A - Balance Sheet Information 

Most recent fiscal year ending before October 2012

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 Equity Current year amount Prior year amount

Assets

01 Total assets 

Liabilities

02 Total liabilities 

Equity

03 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.
Part B - Summary of Changes in Equity 

Most recent fiscal year ending before October 2012

Line No. Revenues, Expenses, Gains, and Losses Current year amount Prior year amount

01 Total revenues and investment return 

02 Total expenses 

03 Sum of specific changes in equity

CV=[B04-(B01-B02)]

 

04 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.
Part C - Scholarships and Fellowships 

Most recent fiscal year ending before October 2012

DO NOT REPORT FEDERAL DIRECT STUDENT LOANS (FDSL) ANYWHERE IN THIS SECTION

Line No. Student Grants Current year amount Prior year amount

01 Pell grants (federal) 

02 Other federal grants (Do NOT include FDSL amounts) 

03 State and local grants (government) 

04 Institutional grants 

05 Total student grants

CV=[C01+...+C04]

 

06 Allowances applied to tuition and fees 

07 Allowances 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 2012

Line No.

Source of Funds

Current year amount Prior year amount

01 Tuition and fees (net of amount reported in Part C, line 06) 

Government Appropriations, Grants and Contracts

02 Federal appropriations, grants and contracts (Do NOT include

FDSL amounts)

 

03 State and local government appropriations, grants and contracts 

Private Grants and Contracts

04 Private grants and contracts 

Other Revenue

05 Investment income and investment gains (losses) included in net

income

 

06 Sales and services of educational activities 

07 Sales and services of auxiliary enterprises

(net of amount reported in Part C, line 07)

 

08 Other revenue

CV=[D09-(D01+...+D07)]

 

09 Total revenues and investment return (from B01) 

10 12-month Student FTE from E12 

11 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 2012

Report Total Operating AND Non-Operating Expenses in this section

Line No.

Expenses by Functional Category Amounts

Prior Year Amounts

01 Instruction 

02 Research and Public service 

03 Academic support, Student services and Institutional support 

04 Auxiliary enterprises 

05 Net grant aid to students (net of allowances for tuition & fees and auxiliary

enterprises)

 

06 All other expenses

CV=[E07-(E01+...+E05)]

 

07 Total expenses (from B02) 

08 12-month Student FTE from E12 

09 Total expenses per student FTE

CV=[E07/E08]

 

Provide an explanation below if values cannot be reported separately.
Prepared by 

This survey component was prepared by:

 

Keyholder

 

SFA Contact

 

HR Contact

 

Finance Contact

 

Other

Name:

Email:

How long did it take to prepare this survey component? hours minutes

The name of the preparer is being collected so that we can follow up with the appropriate person in the event that there

are questions concerning the data. The Keyholder will be copied on all email correspondence to other preparers.

The time it took to prepare this component is being collected so that we can continue to improve our estimate of the

reporting burden associated with IPEDS. Please include in your estimate the time it took for you to review instructions,

query and search data sources, complete and review the component, and submit the data through the Data Collection

System.

Thank you for your assistance.
2012-13 Survey Materials > Instructions date: 12/4/2012

FASB-Reporting Institutions, For-Profit, Degree Granting

Purpose of component

Changes in Reporting

General Information and Instructions

Context boxes

Coverage

GetHelp

Where to get additional help for reporting finance

Where data appears

Detailed Instructions Header

Screening questions

Part A Balance Sheet Information

Part B Summary of Changes in Equity

Part C Student Grants

DG Part D Revenues and Investment Return

Part E Expenses by Function

Parent child instructions

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:

• Balance Sheet Information

• Summary of Changes in Equity

• Student Grants

• Revenues and Investment Return

• Expenses by Function

Changes in Reporting

There are no reporting changes for the 2012-13 finance data collection for for-profit institutions.

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, 2012. For institutions with fiscal years ending on December 31, this

would be the calendar year 2011.

About the Data
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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 Universities' Business Officers

(NACUBO). To provide additional help, accounting terms are underlined and colored blue. These terms are linked to definitions found in the on-line 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.

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.

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 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.

Where to Get Help

IPEDS Data Collection Help Desk

Phone: 1-877-225-2568

Email: ipedshelp@rti.org

AIR Website

You can also consult the AIR website that contains several tutorials on IPEDS data collection, a self-paced overview of IPEDS tools and other valuable resources.

IPEDS Resources Page

In addition, the IPEDS Resources Page contains frequently asked questions, a link to the glossary, data tip sheets, an archive of survey instruments, information on the new race/ethnicity categories and other relevant

information.

Where to Get Additional Get 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.

Where the 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

At the aggregate-level, data will appear in:
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• IPEDS First Looks

• IPEDS Table Library

• IPEDS Data Feedback Reports

• The Digest of Education Statistics

• The Condition of Education

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 and Audit

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.

OR

• 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.

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.

Part A – Balance Sheet Information

This part is intended to report the assets, liabilities, and equity. 

Data should be consistent 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 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.

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. 

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. 

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. 

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. 

g) Other assets – Include all other assets not reported elsewhere.
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 – 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. 

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 your 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. 

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 stockholders’

equity from all sources other than from 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.

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.

Part C - Student Grants

This part is intended to report details about student grants.

For each source on lines 01–04, enter the amount of resources received that are used for student financial aid purposes. Student grants include: grants-in-aid, trainee stipends, tuition and fee waivers, and

prizes to undergraduate students. Student grants do not include amounts provided to students as payments for 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 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." 

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 Supplemental Education Opportunity Grants (SEOG), DHHS training

grants (aid portion only), DOD grants, Department of Veterans Affairs grants, and the federal portion of State Student Incentive Grants (SSIG). Report institutional matching funds separately under

institutional grants. Do not include Federal Work Study amounts.

03 – State and local grants (government) – Enter the amount awarded to the institution under state and local student aid programs, including the state portion of State Student Incentive Grants

(SSIG). 

04 – Institutional grants – Enter the amount awarded to students from institutional resources. 

05 – Total student grants – 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 provider is advised to check the other amounts provided on this screen for data entry errors. 

06 – Allowances 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 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)

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 charges and credits. Internal charges and credits include charges between a parent and a 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

02 – Federal appropriations, grants and contracts – Enter all amounts received from the Federal Government including a direct appropriation of Congress, and any grants or contracts. Federal

appropriations received through state channels should be included on line 02. Include 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. 

03 – State and local government appropriations, grants and contracts – Enter all amounts received from a state or local government through a direct appropriation of its legislative body, and any

grants or contracts. An example of a state or local appropriation that should be entered on line 03 is an annual state or local appropriation for operating expenses of the institution. 

Include all revenues from state and local government agencies that are for specific undertakings such as research projects, training projects, and similar activities, including contributions from state and

local agencies. If state and local grants for student aid are treated as agency transactions in your GPFS, they are excluded from this amount. If state and 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. 

Private Grants and Contracts

04 – Private 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. 

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.

Part E – Expenses by Function

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. These functional categories are consistent with Chapter 5

(Accounting for Private Colleges and Universities) of the NACUBO FARM.

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 at:http://www.nacubo.org/Business_and_Policy_Areas/Accounting/Advisory_Reports/Advisory_Report_2010-

1_Public_Institution_Methodologies_for_Allocation_Depreciation_Operation_and_Maintenance_of_Plant_and_Interest_Expense-x11205-ml.html.

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, depreciation, and interest expenses are to be distributed among the other functional expense categories. 

Refer to these specific instructions for more information about reporting expenses. 

Expenses by Function

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 non-credit activities. Exclude expenses for

academic administration if the primary function is administration (e.g., academic deans). Such expenses should be entered on line 03. 

02 – Research and Public Service – Enter the sum of expenses for research and public service. Each term is described below. 

Research – Includes all 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). 

Public service – Includes all 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. 

03 – Academic support, Student services and Institutional support – Enter the sum of expenses for academic support, student services, and institutional support.

Each term is described below. 

Academic support – Includes 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. 

Student services – 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 are career guidance, counseling, financial aid administration, student records, athletics, and student

health services, except when operated as a self-supporting auxiliary enterprise. 

Institutional support – Includes all 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. 

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. 

05 – Net grant aid to students (net of tuition and fee allowances and agency transactions) – Enter on this line ONLY student aid recognized as expenses in your GPFS. Whereas in the past, most

student awards were recorded as expenses under this classification, most student awards will now be 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 and should

not be treated as an expense. 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. Student aid 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. Student aid 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. 

According to NACUBO Advisory Report 97-1 (January 17, 1997), grant aid to students 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. 
06 – All other expenses – This calculated value is generated using this formula:

E06 = E07 – (E01 + ... + E05)

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 - This amount is automatically carried forward from Part B, line 02. The amount should be the same as the amount for total expenses found in your GPFS.

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.

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 Parent Institution Child Institution

Part A – Balance Sheet Reports sum of Parent and Child

data

Does not report

Part B – Summary of Change in Equity Reports sum of Parent and Child

data

Does not report

Part C – Student Grants Reports parent data only Reports child data only

Part D – Revenues and Investment Return Reports parent data only Reports child data only

Part E – Expenses by Function Reports parent 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.
Glossary date: 12/4/2012

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.

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.

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.

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.

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.

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.

Other federal grants Federal monies awarded to the institution under federal government student aid programs, such as

Supplemental Educational Opportunity Grants (SEOG), DHHS training grants (aid portion only), State

Student Incentive Grants (SSIG), 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 & 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 & 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, 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.

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 & 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.

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.

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)

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.

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.
2012-13 Survey Materials > F.A.Q. date: 12/4/2012

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 received funds from the American Recovery and Reinvestment Act (ARRA). Where should they be reported?

4) We haven’t been audited yet and won’t have an audited financial statement until May. Do I still have to fill this out?

5) What period should the finance survey cover?

7) How do I know what reporting standards are used to prepare the financial statements?

8) What happens if I respond incorrectly to the reporting standards screening question?

9) What is the difference between “business-type” activities and “governmental” activities?

10) What is combined ("parent/child") reporting and how does it work?

11) Can a system office report combined data?

12) When does a system office need to report data?

13) 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?

14) My institution does not award degrees. Do we still need to complete the Finance component?

15) 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?

16) 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) I see the term CV on several lines of the finance survey. What is this referring to?

3) What are operating versus nonoperating revenues?

4) We reported federal appropriations in operating revenues rather than non-operating revenues in our financial statements. How

should I report them on IPEDS?

5) What are some examples of independent operations?

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) What are discounts and allowances (Part E)? (We don’t discount our tuition.)

8) We do not capitalize our library. Do I report it on Part A page 2?

9) Why does operation and maintenance of plant appear as both a row and column in Part C (expenses and other deductions)?

10) 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?

11) If my institution is a GASB-reporter, where should my institution report the gain or loss on the sale of a plant asset?

12) Where did component units go?

Private Not-for-Profit and Public Institutions Using FASB

1) My institution is primarily a hospital with a small instruction program. How should I report the hospital part of my institution?

2) What are some examples of independent operations?

3) What value do I use to report plant, property, and equipment on the second page of Part A?

4) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?

5) I see the term CV on several lines of the finance survey. What is this referring to?

6) What is the difference between funded and unfunded institutional grants as reported on the Student Grants part of the survey?

7) What are allowances in Part C (Scholarships and Fellowships)?

8) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?

Private for-profit institutions

1) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?

2) I see the term CV on several lines of the finance survey. What is this referring to?

3) What are allowances in Part C (Student Grants)?

4) 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?

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 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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4) 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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5) 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, 2012. 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, 2012. If your institution’s fiscal year ends on December 31, your financial

statements for the year ending December 31, 2011 would be used.

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7) 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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8) 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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9) 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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10) 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_03072007_2.asp for more information on parent/child

relationships.

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11) 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_03072007_2.asp. If a system will be reporting this

way, they must contact the Help Desk before reporting combined data.

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12) 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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13) 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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14) 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. A more detailed description can be found at

http://nces.ed.gov/ipeds/submit_data/changes0910.asp

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15) 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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16) 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 winter 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) 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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3) 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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4) 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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5) 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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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. Nonoperating expenses, such as

interest on debt, should be reported on Part C.

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7) 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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8) 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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9) 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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10) 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/Business_and_Policy_Areas/Accounting/Advisory_Reports/Advisory_Report_2010-

1_Public_Institution_Methodologies_for_Allocation_Depreciation_Operation_and_Maintenance_of_Plant_and_

Interest_Expense-x11205-ml.html. to assist public institutions to develop 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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11) 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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12) Where did component units go?

Separate reporting was eliminated when institutions moved to the new aligned reporting that was

mandatory starting in 2010-11.

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Private Not-for-Profit and Public Institutions Using FASB

1) 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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2) 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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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) 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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5) 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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6) What is the difference between funded and unfunded institutional grants as reported on the Student Grants 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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7) 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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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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Private for-profit institutions

1) 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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2) 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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3) What are allowances in Part C (Student Grants)?

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) 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 functional categories listed for expenses are recommended by the National Association of College and

University Business Officers (NACUBO). You should do your best to determine which of these functional

categories are most fitting for your institutions. If you need further assistance classifying your expenses,

please call the Help Desk.

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2012-13 Survey Materials > Narrative Edits date: 12/4/2012

Finance for degree granting private, for-profit institutions

Edit specifications for the 2012-13 IPEDS Web-Based Data Collection

Finance Component

Applicable to Private-for-profit FASB-reporting institutions

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: Statements

Part B: Summary of Changes in Equity

Part C: Student Grants

Part D: Revenues and Investment Return

Part E: Expenses by Function

Screening Questions

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, 2012.

• 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, 2012.

• 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

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 2010 or 2011.

• The Year entered for the Ending date of the fiscal year should be either 2011 or 2012.

• The fiscal year Beginning date cannot be earlier than September 2010.

• The fiscal year Ending date cannot be later than October 2012.

• 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: Balance Sheet Information

On this screen, you must report your institution’s assets and liabilities for the most recent 12-month fiscal year.

Enter the Current year amount for each of the following:

• Total assets (line 01)

• Total liabilities (line 02)

Upon saving the screen, the system uses the above values to calculate additional equity 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 value reported for Total assets cannot be negative.

• If the Prior year amount of Total assets is greater than 0, then the current year value may NOT be equal to

that amount.

• A value must be entered for Total liabilities (line 02).

• 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.

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Part B: Summary of Changes in Equity

Applicable to institutions that are NOT partial parents

On this screen, you must report details about your institution’s changes in equity for the most recent 12-month fiscal year.

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 (line 01) must be greater than 0.

• If the Prior year amount of Total revenues is greater than or equal to 0, then the current year value is

expected to be within a 50% range of that 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 or equal to 0, then the current year value is

expected to be within a 50% range of that 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 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.

Applicable to institutions that are partial parents

On this screen, you must report details about changes in equity for your institution and all of its children for the most recent 12

-month fiscal year .

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. The Equity, end of year value from Part A of this survey is displayed for your reference.

The system will perform the following edits on the data entered:

• The value reported for Total revenues and investment return (line 01) on this screen must be greater than

the Total Amount of Revenues and investment return in Part D of this survey.

• The value reported for Total expenses (line 02) on this screen must be greater than the Total amount of Total

expenses in Part E of this survey.

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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 12-

month fiscal year.

Enter the Current year amount for each of the following:

• Pell grants, federal (line 01)

• Other federal grants (line 02)

• State and local grants, government (line 03)

• 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 student grants (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:

• The value reported for Pell grants (line 01) is expected to be greater than 0.

• If Federal appropriations, grants, and contracts was selected for Screeening Question 3, then the calculated

amount of Total student grants (line 05) cannot be negative.

• The calculated value of Total student grants is expected to be greater than 0.

• If the Prior year amount of Total student grants is greater than 0, then the current year value is expected to

be within a 50% range of that amount.

• If the Prior year amount of Total student grants is greater than 0, then the current year value may NOT be

equal to that amount.

• The calculated Total student grants 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).
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Part D: Revenues and Investment Return

For Part D, you must report your institution’s revenues and investment returns for the most recent 12-month fiscal year.

On this screen, enter the Current year amount for each of the following:

• Tuition and fees (line 01)

• Federal appropriations, grants and contracts (line 02)

• State and local government appropriations, grants and contracts (line 03)

• Private grants and contracts (line 04)

• Investment income and investment gains (losses) included in net income (line 05)

• Sales and services of educational activities (line 06)

• Sales and services of auxiliary enterprises (line 07) (For degree-granting institutions only)

If your institution is a partial child or partial parent, then you must also report the amount of Total revenues and investment

return (line 09). Otherwise, this information is preloaded by the system.

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.

Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 10). These

values are 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 the 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.

• If the Prior year amount of Tuition and fees is greater than 0, then the current year value is expected to be

within a 50% range of that amount.

• If the value reported for Tuition and fees is greater than 0, then that value cannot be equal to the value

reported for Allowances applied to tuition and fees in Part C of this survey.

• If your institution is NOT an administrative office and Federal appropriations was selected for Screeening

Question 3, then the value reported for Federal appropriations, grants and contracts (line 02) should be

greater than or equal to the amount of Pell grants reported in Part C< i>.

• If your institution is degree-granting, then 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 must also be greater than 0.

• The calculated amount of Other revenue (line 08) is not expected to be negative.

• The calculated amount of Other revenue is expected to be no more than 75% of Total revenues and

investment return (line 09).

• If your institution is a partial child or partial parent, then the value reported for Total revenues and investment

return (line 09) must be greater than 0.

• If your institution is a partial child or partial parent, and the Prior year amount of Total revenues and

investment return is greater than or equal to 0, then the current year value is expected to be within a 50%

range of that amount.

• If your institution is a partial child or partial parent, and the Prior year amount of Total revenues in Part B of

this survey is greater than or equal to 0, then the value reported for Total revenues and investment return on

this screen is expected to be within a 50% range of that amount.

• If your institution is a 4-year institution, and a value greater than 0 is preloaded for the 12-month Student FTE

from E12 (line 10), then the calculated Total revenues and investment return per student FTE (line 11)

value is expected to be between 5,000 and 100,000.

• 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 10), then the calculated Total revenues and investment return per student FTE (line 11)

value is expected to be between 4,000 and 100,000.

• 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 10), then the calculated Total revenues and investment return per student

FTE (line 11) value is expected to be between 2,500 and 75,000.

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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.

On this screen, enter an amount for each of the following:

• Instruction (line 01)

• Research and Public service (line 02)

• Academic support, Student services and Institutional support (line 03)

• Auxiliary enterprises (line 04) (For degree-granting institutions only)

• Net grant aid to students (line 05)

If your institution is a partial child or partial parent, then you must also report the amount of Total expenses (line 07).

Otherwise, this information is preloaded by the system.

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.

Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 08). These

values are 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:
• If your institution is NOT an administrative office, then a value must be entered for Instruction (line 01).

• The value reported for Instruction cannot be negative.

• The value reported for Instruction is expected to be greater than 0.

• If the Prior year amount of Instruction is greater than 0, then the current year value is expected to be within a

50% range of that amount.

• The value reported for Research and Public service (line 02) cannot be negative.

• A value must be entered for Academic support, Student services and Institutional support (line 03).

• The value reported for Academic support, Student services and Institutional support cannot be negative.

• If your institution is degree-granting, then the value reported for Auxiliary enterprises (line 04) cannot be

negative.

• If your institution is degree-granting and the value reported for Sales and services of auxiliary enterprises in

Part D of this survey is greater than 0, then the value reported for Auxiliary enterprises on this screen must

also be greater than 0.

• The value reported for Net grant aid to students (line 05) cannot be negative.

• The value reported for Net grant aid to students must be less than or equal to the difference between Total

student grants and Allowances reported in Part C of this survey.

• The calculated amount of All other expenses (line 06) cannot be negative.

• The calculated amount of All other expenses is expected to be no more than 75% of Total expenses (line 07).

• If your institution is a partial child or partial parent, then the value reported for Total expenses must be greater

than 0.

• If your institution is a partial child or partial parent, and the Prior year amount of Total expenses is greater

than or equal to 0, then the current year value is expected to be within a 50% range of that amount.

• If your institution is a partial child or partial parent, and the Prior year amount of Total expenses in Part B of

this survey is greater than or equal to 0, then the value reported for Total expenses on this screen is expected

to be within a 50% range of that amount.

• If your institution is a partial child or partial parent, then the value reported for Total expenses cannot be equal

to the corresponding Prior year amount.

• If your institution is a partial child or partial parent, NOT an administrative office, and the value reported for Total

expenses 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 your institution is a 4-year institution, then the calculated amount of Total expenses per student FTE (line

09) is expected to be between 5,000 and 75,000.

• If your institution is a 2-year institution, then the calculated amount of Total expenses per student FTE is

expected to be between 4,000 and 75,000.

• If your institution is a less-than-2-year institution, then the calculated amount of Total expenses per student

FTE is expected to be between 2,500 and 75,000.
2012-13 Survey Materials > Form date: 12/4/2012

Finance for non-degree granting public institutions using GASB Reporting Standards

Finance - Public institutions 

Reporting Standard

Please indicate which reporting standards are used to prepare your financial statements:

       GASB (Governmental Accounting Standards Board), using standards of GASB 34 & 35

FASB (Financial Accounting Standards Board)

Please consult your business officer for the correct response before saving this screen. Your response to this

question will determine the forms you will receive for reporting finance data.
Finance - Public institutions 

General Information

GASB-Reporting Institutions (aligned form)

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, 2012.)

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 Qualified

(Explain in

box below)

Don't know

(Explain in

box below)               

You may use the space below to provide context for the data you've reported above.
Part E - Scholarships and Fellowships 

Most recent fiscal year ending before October 2012

DO NOT REPORT FEDERAL DIRECT STUDENT LOANS (FDSL) ANYWHERE IN THIS SECTION

Line

No.

Source Current year

amount

Prior year

amount

01 Pell grants (federal) 

02 Other federal grants (Do NOT include FDSL amounts) 

03 Grants by state government 

04 Grants by local government 

05 Institutional grants from restricted resources 

06 Institutional grants from unrestricted resources

CV=[E07-(E01+...+E05)]

   

07 Total gross scholarships and fellowships 

Discounts and Allowances

08 Discounts & allowances applied to tuition & fees 

09 Discounts & allowances applied to sales & services of

auxiliary enterprises

 

10 Total discounts & allowances

CV=(E08+E09)

   

11 Net scholarships and fellowships expenses after deducting

discounts & allowances

CV= (E07-E10) This amount will be carried forward to C10 of the

expense section.

   

You may use the space below to provide context for the data you've reported above.
Part B - Revenues and Other Additions 

Most recent fiscal year ending before October 2012

Line No. Source of Funds Current year amount Prior year amount

Operating Revenues

01 Tuition & fees, after deducting discounts & allowances 

Grants and contracts - operating

02 Federal operating grants and contracts 

03 State operating grants and contracts 

04 Local government/private operating grants and contracts    

04a Local government operating grants and contracts 

04b Private operating grants and contracts 

26 Sales & services of educational activities 

08 Other sources - operating

CV=[B09-(B01+ ....+B26)]

   

09 Total operating revenues 
Part B - Revenues and Other Additions 

Most recent fiscal year ending before October 2012

Line

No.

Source of funds Current year

amount

Prior year

amount

Nonoperating Revenues

10 Federal appropriations 

11 State appropriations 

12 Local appropriations, education district taxes, & similar support 

Grants-nonoperating

13 Federal nonoperating grants Do NOT include Federal Direct Student

Loans

 

14 State nonoperating grants 

15 Local government nonoperating grants 

16 Gifts, including contributions from affiliated organizations 

17 Investment income 

18 Other nonoperating revenues

CV=[B19-(B10+...+B17)]

   

19 Total nonoperating revenues 

27 Total operating and nonoperating revenues CV=[B19+B09]    

28 12-month Student FTE from E12    

29 Total operating and nonoperating revenues per student FTE

CV=[B27/B28]

   
Part B - Revenues and Other Additions 

Most recent fiscal year ending before October 2012

Line No. Source of funds Current year amount Prior year amount

Other Revenues and Additions

24 Total other revenues and additions 

25 Total all revenues and other additions

CV=[B09+B19+B24]

   

You may use the space below to provide context for the data you've reported above.
Part C - Expenses and Other Deductions 

Most recent fiscal year ending before October 2012

Report Total Operating AND Non-Operating Expenses in this section

1 2 3 4 5 6 7 8

Line

No.

Description Current year

total

Salaries &

wages

Employee

fringe

benefits

Operation

and

maintenance

of plant

Depreciation Interest All

other                    

PY

Total

Amount

Expenses and

Deductions

01 Instruction    

02 Research    

03 Public service    

05 Academic support    

06 Student services    

07 Institutional support    

08 Operation &

maintenance

of plant (see

instructions)

0    0

10 Scholarships and

fellowships

expenses, excluding

discounts & allowances

(from E11)

      

14 Other expenses

& deductions

CV=[C19-(C01+...+C10)]

                     

19 Total expenses &

deductions

0    

Prior year amount 

20 12-month Student FTE

from E12

   

21 Total expenses and

deductions per student

FTE CV=[C19/C20]

   

You may use the space below to provide context for the data you've reported above.
Part J - Revenue Data for Bureau of Census 

Most recent fiscal year ending before October 2012

Source and type Amount

Total for all

funds

and operations

(includes

endowment

funds,

but excludes

component

units)

Education and

general/independent

operations

Auxiliary

enterprises

Hospitals Agriculture

extension/experiment

services

(1)   (2) (3) (4) (5)

01Tuition and fees      

02Sales and services         

03Federal

grants/contracts

(excludes Pell Grants)

  

Revenue from the state government:

04State appropriations,

current & capital

  

05State grants and

contracts

  

Revenue from local governments:

06 Local appropriation,

current & capital

  

07 Local government

grants/contracts

  

08Receipts from

property and nonproperty taxes

09Gifts and private

grants, including

capital grants

10 Interest earnings

11Dividend earnings

12Realized capital gains

You may use the space below to provide context for the data you've reported above.
Part K - Expenditure Data for Bureau of Census 

Most recent fiscal year ending before October 2012

Category Amount

Total for all funds and

operations (includes

endowment funds, but

excludes component units)

Education and

general/

independent

operations

Auxiliary

enterprises

Hospitals Agriculture

extension/

experiment

services

(1) (2) (3) (4) (5)

01Salaries and wages         

02Employee benefits, total         

03Payment to state retirement

funds (maybe included in line 02

above)

  

04Current expenditures other than

salaries

  

Capital outlay:

05Construction   

06Equipment purchases   

07 Land purchases   

08 Interest on debt outstanding, all

funds & activities

09Scholarships/fellowships      

You may use the space below to provide context for the data you've reported above.
Part L - Debt and Assets, page 1 

Most recent fiscal year ending before October 2012

Debt

Category Amount

01 Long-term debt outstanding at beginning of fiscal year

02 Long-term debt issued during fiscal year

03 Long-term debt retired during fiscal year

04 Long-term debt outstanding at end of fiscal year

05 Short-term debt outstanding at beginning of fiscal year

06 Short-term debt outstanding at end of fiscal year

You may use the space below to provide context for the data you've reported above.
Part L - Debt and Assets, page 2 

Most recent fiscal year ending before October 2012

Assets

Category Amount

07 Total cash and security assets held at end of fiscal year in sinking or debt service funds

08 Total cash and security assets held at end of fiscal year in bond funds

09 Total cash and security assets held at end of fiscal year in all other funds

You may use the space below to provide context for the data you've reported above.
Prepared by 

This survey component was prepared by:

   

Keyholder

   

SFA Contact

   

HR Contact

   

Finance Contact

   

Other

Name:

Email:

How long did it take to prepare this survey component? hours minutes

The name of the preparer is being collected so that we can follow up with the appropriate person in the event that there

are questions concerning the data. The Keyholder will be copied on all email correspondence to other preparers.

The time it took to prepare this component is being collected so that we can continue to improve our estimate of the

reporting burden associated with IPEDS. Please include in your estimate the time it took for you to review instructions,

query and search data sources, complete and review the component, and submit the data through the Data Collection

System.

Thank you for your assistance.
2012-13 Survey Materials > Instructions date: 12/4/2012

Finance Public GASB non degree

Purpose of component

Changes in Reporting

Coverage

General Information and Instructions

Where to Get Help

Where data appears

Detailed Instructions Header

Screening questions

Part E Scholarships and Fellowships

Part B Revenues and Other Additions

Part C Expenses and Other Deductions

Part J

Part K

Part L

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:

• Revenues and Other Additions

• Expenses and Other Deductions

• Scholarships and Fellowships

• Census Information

Changes in Reporting

Changes in Reporting

For the 2012-13 finance data collection we have made changes to the Scholarships and Fellowships section,

Part E. These changes include:

• The Scholarships and Fellowships section of the finance survey has been moved up to come after

assets and before revenues and expenses. 

• The amount for discounts and allowances to auxiliary enterprises (line 8) will now be reported by the

institution, not calculated from other variables as in previous years.

• The amount for total discounts and allowances (line 10) will be calculated as the sum of discounts and

allowances to tuition & fees and auxiliary enterprises (lines 8 and 9). In previous years this amount

was calculated as the difference between net scholarship and fellowship expenses and gross

scholarships and fellowships.
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• The amount for net scholarships and fellowships (line 11) will be calculated as the difference between

total (gross) scholarship and fellowships (line 7) and total discounts and allowances (line 10). In

previous years, this amount was reported in the expense section of the survey.

Moving the Scholarships and Fellowships section before the Expenses section means that the amount for net

scholarships and fellowships expenses in Part E, line 11 will now be carried forward to the Expenses section

(Part C) to populate the net scholarships and fellowships amount for line 10. 

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 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.

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, 2012. For institutions with fiscal years ending on December 31, this would be

the calendar year 2011.

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 Universities' Business Officers (NACUBO). To

provide additional help, accounting terms are underlined and colored blue. These terms are linked to

definitions found in the on-line 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.

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.

Where to Get Help

IPEDS Data Collection Help Desk

Phone: 1-877-225-2568

Email: ipedshelp@rti.org

AIR Website

You can also consult the AIR website that contains several tutorials on IPEDS data collection, a self-paced

overview of IPEDS tools and other valuable resources.

IPEDS Resources Page
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In addition, the IPEDS Resources Page contains frequently asked questions, a link to the glossary, data tip

sheets, an archive of survey instruments, information on the new race/ethnicity categories and other relevant

information.

Where to Get Additional Get 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.

Where the 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

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

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.

Context: Enter in this space any explanations specified in other instructions or any other information critical

to financial statement users. 

Part E - 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 undergraduate 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 Discounts and Allowances to Tuition and Other Fee Revenues by

Public Institutions of Higher Education (AR 2000-05, September 1, 2000), which is available at the NACUBO

website (www.nacubo.org). AR 2000-05 states: 

"A scholarship allowance is the difference between the stated charge for goods and services provided by the

institution and the amount that is paid by students and/or third parties making payments on behalf of

students. In considering what is or is not revenue (for Part D), the following rule applies: amounts received to

satisfy student tuition and fees will be reported as revenue only once (e.g., student fees, gifts, federal grants

and contracts such as Pell Grants, and 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." 

Refer to these specific instructions for more information about reporting student scholarships and

fellowships. 

01 – Pell grants (federal) — Report the gross amount of Pell grants disbursed or otherwise made available

to recipients by your institution. 

02 – Other federal grants — Enter the amount awarded to the institution under federal student aid

programs other than Pell, such as Supplemental Education Opportunity Grants (SEOG), DHHS training grants

(aid portion only), DOD grants, Department of Veterans Affairs grants, and State Student Incentive Grants

(SSIG). Report institutional matching funds for SEOGs under institutional grants from unrestricted sources.

Include the federal support portion of State Student Incentive Grants (SSIGs). Do not include Federal

Direct Student Loans or Federal Work Study. 

03 – Grants by state government — Report expenditures for scholarships and fellowships that were funded

by your state such as the state share of State Student Incentive Grants (SSIGs). Report portable student aid

from another state as a state source. 

04 – Grants by local government — Report expenditures for scholarships and fellowships that were funded

by local governments. 

05 – Institutional grants from restricted sources — Report expenditures for scholarships and fellowships

received from private sources (e.g., businesses, foundations, individuals, foreign governments) that used

restricted-expendable net assets of the institution. 

06 – Institutional grants from unrestricted sources — This line is generated by taking the total on line

07 and subtracting the total of lines 01-05. This amount should include expenditures for scholarships and

fellowships from unrestricted net assets of your institution. The institutional matching portion of federal, state

or local grants should be reported here. Include athletic scholarships if appropriate. 

07 – Total gross scholarships and fellowships — Enter total scholarship & fellowship amounts. 

Discounts & Allowances – Report the amount of the gross scholarships and fellowships entered above that

were recorded as discounts & allowances. (FARM para. 360.41)

08 – Discounts & allowances applied to tuition & fees – Report the amount of discounts & allowances

that were recorded as an offset (reduction) to student tuition & fees. 

09 – Discounts & allowances applied to sales & services of auxiliary enterprises – Report the amount

of discounts & allowances that were recorded as an offset (reduction) to revenues of auxiliary enterprises

(room and board, books, meals, etc.). 

10 – Total discounts & allowances – This line is generated by summing the discounts and allowances

reported to both tuition & fees and auxiliary enterprises entered in lines 9 and 10. 

11 – Net scholarships and fellowships after deducting discounts & allowances – This amount is

generated by taking the difference between total gross scholarships and fellowships (line 7) and subtracting

the total discounts and allowances (line 10). This amount should reflect scholarships and fellowships expenses

in the form of outright grants to students selected and awarded by the institution and should not include

monies treated as discounts and allowances. This amount will be carried forward to Part C Line 10 for Net

scholarship and fellowships expenses.
Part B - Revenues and Other Additions

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. 

Includes all operating revenues, nonoperating revenues, and other

additions for the reporting period. This includes unrestricted and

restricted revenues and additions, whether expendable or

nonexpendable.

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.

Operating revenues result from providing services and producing and delivering goods (see GASB

Statement No. 9, paragraphs 16-19).

Nonoperating revenues are those generated from non-exchange transactions, such as appropriations, gifts,

and investment earnings. They are often used to support the operations of the institution. The term

nonoperating does not preclude use for operating expenses.

In some cases an institution may report certain revenues in an operating or nonoperating category different

from that shown on the IPEDS forms. This IPEDS component is not intended to dictate how an institution

reports such revenues in its own GPFS. However, for consistency of reporting it is requested that information

from the GPFS be reported to IPEDS as requested below.

For institutions receiving American Recovery and Reinvestment Act (ARRA) revenues during the reporting

period, report these amounts as part of line 19, Total nonoperating revenues. If the GPFS shows a separate

amount for ARRA revenues in another revenue category (e.g., Federal operating 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. 

Operating Revenues

01 – Tuition & fees, after deducting discounts & allowances — Report all tuition & fees (including

student activity fees) assessed against students for education purposes. Include revenues for tuition and fees

net of discounts & allowances from institutional or governmental scholarships, waivers, etc. (report gross

revenues minus discounts and allowances). Include here those tuition and fees that are remitted to the state

as an offset to state appropriations. (Charges for room, board, and other services rendered by auxiliary

enterprises are not reported here; see line 05.) 

02 – Federal operating grants and contracts — Report revenues from federal governmental agencies that

are for specific research projects or other types of programs and that are classified as operating revenues.

Examples are research projects and similar activities for which amounts are received or expenditures are

reimbursable under the terms of a grant or contract. Include federal land grant appropriations if considered

operating revenue. Do not include Pell grants or other federal student aid here (see line 13 in this

part). Do not include any ARRA revenues on this line (see line 19 in this part).

03 – State operating grants and contracts — Report revenues from state governmental agencies that are

for specific research projects or other types of programs and that are classified as operating revenues.

Examples are research projects and similar activities for which amounts are received or expenditures are

reimbursable under the terms of a grant or contract. Do not include any ARRA revenues on this line (see

line 19 in this part).

04a – Local government operating grants and contracts — Report revenues from local governmental

agencies that are for specific research projects or other types of programs and that are classified as operating

revenues. Examples are research projects and similar activities for which amounts are received or

expenditures are reimbursable under the terms of a grant or contract.

04b – Private operating grants and contracts — Report revenues from nongovernmental

agencies and organizations that are for specific research projects or other types of programs and

that are classified as operating revenues. Examples are research projects and similar activities for

which amounts are received or expenditures are reimbursable under the terms of a grant or

contract. 
26 – Sales & services of educational activities – Include all operating 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 sources-operating — This amount is generated by taking the amount on line 09 and

subtracting the total of lines 01-26. This amount should include all operating revenues not included

on lines 01-26.

09 – Total Operating Revenues — Report total operating revenues from your GPFS. 

Nonoperating Revenues

10 – Federal appropriations – Report all amounts received by the institution through acts of a

federal legislative body, except grants and contracts. Funds reported in this category are for

meeting current operating expenses, not for specific projects or programs. An example is federal

land-grant appropriations. If your institution accounts for land grant appropriations as operating

revenue, include the amount received on line 02. Do not include any ARRA revenues on this

line (see line 19 in this part).

11 – State appropriations — Report all amounts received by the institution through acts of a

state legislative body, except grants and contracts. Funds reported in this category are for meeting

current operating expenses, not for specific projects or programs. Do not include capital

appropriations (see line 24). Do not include any ARRA revenues on this line (see line 19 in

this part).

12 – Local appropriations, education district taxes & similar support – Report all amounts

received from property or other taxes assessed directly by or for an institution below the state

level. Include any other similar general support provided to the institution from governments

below the state level, including local government appropriations. Do not

include capital appropriations (see line 24). 

13 – Federal nonoperating grants – Report all amounts reported as nonoperating revenues

from federal governmental agencies that are provided on a nonexchange basis. Include Pell

Grants and other Federal student grant aid, including Veterans Education Benefits here.

Do not include revenues from the Federal Direct Student Loan (FDSL) Program. Do not include

capital grants & gifts reported on line 21. Do not include any ARRA revenues on this line (see

line 19 in this part).

14 – State nonoperating grants – Report all amounts reported as nonoperating revenues from

state governmental agencies that are provided on a nonexchange basis. Do not include capital

grants & gifts (see line 24). Do not include any ARRA revenues on this line (see line 19 in

this part).

15 – Local government nonoperating grants – Report all amounts reported as nonoperating

revenues from local governmental agencies and organizations that are provided on a nonexchange

basis. Do not include capital grants & gifts (see line 24). 

16 – Gifts, including contributions from affiliated organizations – Report revenues from

private donors for which no legal consideration is provided; these would be nonexchange

transactions as defined in GASB Statement No. 33 Accounting and Financial Reporting for

Nonexchange Transactions. Include all gifts or contributions to the institution except those

classified as additions to permanent endowments or capital grants & gifts. Include gifts from

affiliated organizations. Include the amount of contributed services recognized by the institution.

17 – Investment income – Report on this line all investment income not reported on other lines.

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)

(collectively referred to as "investment income"). Changes in the value of interest rate swaps

should be included in this amount. 

18 – Other nonoperating revenues – This amount is generated by taking the total entered on

line 19 and deducting the total of lines 10 through 17. A negative number may signify an error.

Please check for keying errors and recheck totals. 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 19.
19 – Total nonoperating revenues – Report the total of all nonoperating revenues from your

GPFS. This amount should include ARRA revenues received by the institution, if any.

27 – Total operating and nonoperating revenues – This amount is generated by adding lines 09 and 19.

28 – 12-month Student FTE from E12 – This number for full-time equivalent (FTE) student

enrollment is carried over from the 12-month enrollment survey. 

29 – Total operating and nonoperating revenues per Student FTE – This amount is

generated by dividing line 27 by line 28. 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.

Other Revenues and Additions 

24 – Total other revenues and additions – This should be the total of all revenue and additions

included in the GPFS below the line on the Statement of Revenues, Expenses, and Changes in Net

Assets for “income before other revenues, expenses, gains, and losses.” There may be more than

one figure in your own GPFS and thus it may be necessary to combine the revenues and additions

reported in this category such as capital appropriations, grants or contracts. 

25 – Total all revenues and other additions – This amount is automatically generated by

adding the amounts from lines 09, 19, and 24.

Part C - Expenses and Other Deductions

This part is intended to report expenses by function. All expenses recognized in the GPFS should

be reported using the expense functions provided on lines 01–19. These functional categories are

consistent with NACUBO Advisory Report 2000-8, Recommended Disclosure of Alternative Expense

Classification Information for Public Higher Education Institutions.

The total for expenses on line 19 should agree with the total expenses reported in your

GPFS including interest expense and any other nonoperating expenses. 

Include all operating expenses and nonoperating expenses and deductions. See GASB Statement

No. 9, paragraphs 16-19, for an explanation of operating activities. Included are the costs incurred

for salaries and wages, goods, and other services used in the conduct of the institution’s

operations. Not included is the acquisition cost of capital assets, such as equipment and library

books, to the extent the assets are capitalized under the institution’s capitalization policy. 

Do not include losses or other unusual or nonrecurring items in Part C. (Special items including

gains and losses should be accounted for in Part D.)

Operation and maintenance of plant, depreciation, and interest expenses are no longer reported as

separate expense categories. Instead these expenses are to be distributed among the other

functional expense categories. NACUBO has prepared guidance to assist GASB reporters make

these allocations in Advisory Report 2010-1, Public Institutions: Methodologies for Allocating

Depreciation, Operation and Maintenance of Plant, and Interest Expenses to Functional Expense

Categories available at:

http://www.nacubo.org/Business_and_Policy_Areas/Accounting/Advisory_Reports/Advisory_Report

_2010-

1_Public_Institution_Methodologies_for_Allocation_Depreciation_Operation_and_Maintenance_of_P

lant_and_Interest_Expense-x11205-ml.html.

The advisory report also has detailed definitions for the expense categories available in Appendix B

for institutions that do not have access to the NACUBO FARM referenced in the instructions below.

Functional and Natural Expenses

Column 1, Total amount - Enter the total expense for each applicable functional category listed

on lines 01–13. No amount may be entered on line 8 for total operations and maintenance

expenses. This line is provided to assist in the allocation of operation and maintenance expenses.

Total expenses, line 19, should agree with the total expenses reported in your GPFS. 

Column 2, Salaries & 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 01-13 and 19. 

Column 3, Benefits - Enter in this column the amount of benefits expenses incurred in each

functional category identified on lines 01-13 and 19. 
Column 4, Operation and Maintenance of Plant - This column, in conjunction with Line 8, 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 01-13. The total operation and maintenance of plant

expenses should be entered as a negative amount on line 8 of this column, so that the net total of

the column as well as the net total of line 8 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 01-13 and 19. (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 01-13 and 19. (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. 

Refer to these specific instructions for more information about reporting expenses.

01 – 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 should be included in this classification. Include expenses for both credit and

noncredit activities. Exclude expenses for academic administration where the primary function is

administration (e.g., academic deans); such expenses should be reported on line 05. The

instruction category includes academic instruction, occupational and vocational instruction,

community education, preparatory and adult basic education, and remedial and tutorial instruction

conducted by the teaching faculty for the institution’s students. (FARM para. 703.4)

02 – Research - This category includes all 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. Do not report nonresearch sponsored

programs (e.g., training programs). (FARM para. 703.5)

03 – Public service - Report expenses for all activities budgeted 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 particular sectors of the

community. Include expenditures for community services and cooperative extension

services. (FARM para. 703.6)

05 – Academic support - This category includes expenses for the support services that are an

integral part of the institution’s primary missions of instruction, research, and public service.

Include expenses for museums, libraries, galleries, audio/visual services, ancillary support,

academic administration, personnel development, and course and curriculum development. Include

expenses for veterinary and dental clinics if their primary purpose is to support the institutional

program. (FARM para. 703.7)

06 – Student services - Report 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, and financial aid administration. This category

also includes intercollegiate athletics and student health services, except when operated as selfsupporting auxiliary enterprises. (FARM para. 703.8)

07 – Institutional support - Report 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, and public relations/development. (FARM para. 703.9)

08 – Operation & 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.

Report all expenses for operations established to provide service and maintenance related to

grounds and facilities used for educational and general purposes. Also include expenses for

utilities, fire protection, property insurance, and similar items. 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)
10 – Scholarships and fellowships expenses, excluding discounts & allowances - This

amount is carried forward from Part E: Scholarships and Fellowships, line 11. Scholarships

and fellowships expenses in the form of outright grants to students selected and awarded by the

institution. This is the amount that exceeds fees and charges assessed to students by the

institution and that would not have been recorded as discounts & allowances. This classification will

include the excess of awards over fees and charges from Pell grants and other resources, including

funds originally restricted for student assistance. Do not include loans to students or amounts

where the institution is given custody of the funds but is not allowed to select the recipients; these

are transactions recorded in balance sheet accounts and not revenues and expenses. (FARM para.

703.10)

 

14 - Other expenses and deductions - This amount is generated by taking the total on line 19

and deducting the total of lines 01 through 10.

19 – Total Expenses & Deductions - Enter on this line totals that agree with the institution’s

GPFS.

20 – 12-month Student FTE from E12 – This number for full-time equivalent (FTE) student

enrollment is carried over from the 12-month enrollment survey.

21 – Total Expenses & Deductions per Student FTE - This amount is generated by dividing

line 19 by line 20. 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.

General Instructions for Parts J, K and L

Report data for the same fiscal year as reported in parts A through E. Report gross amounts but

exclude interfund transfers. Include the transactions of all funds of your institution. 

These instructions conform to the U. S. Census Bureau’s Government Finance and Employment

Classification Manual. This manual can be viewed on the Internet at

http://www.census.gov/govs/www/06classificationmanual/06_gfe_classmanual_toc.html

Do not delay reporting to await audited figures if substantially accurate figures can be supplied on

a preliminary basis. The amounts reported for the Census Bureau part of the form are used for

statistical purposes only. They are not audited, used for any indicators of compliance and have no

implications for policy. They are not released to the public at the institutional level, but rather are

aggregated to the parent government level and included with the transactions of the parent

government.

Part J - Revenues

Report only in the unshaded blocks. Information for shaded blocks is obtained from other Parts of

this form, or is not applicable to your institution. 

Line

1. All amounts will be obtained from Parts B and E. The Census Bureau includes tuition and

fees from part B plus discounts and allowances (applied to tuition) from Part E).

2. Sales and services -- Report separately only sales and service attributable to activities

indicated for column 2 and column 4. All other amounts will be obtained from Parts B and E,

or will be calculated.

3. Exclude Pell and other student grants and any Federal loans received on behalf of the

students. Include all other direct Federal grants, including research grants, in the

appropriate column.

4. Include state appropriations in the proper column. Include all operating and non-operating

appropriations, as well as all current and capital appropriations.

5. Include state grants and contracts in the proper column. Do not include state student grant

aid.

6. Include local government appropriations in the appropriate column, regardless of whether

appropriations were for current or capital. This generally applies only to local institutions of

higher education.

7. Include local grants and contracts in the appropriate column.
8. This item applies only to local institutions of higher education. Include in column 1 any

revenue from locally imposed property taxes or other taxes levied by the local higher

education district. Include all funds – current, restricted, unrestricted and debt service.

Exclude taxes levied by another government and transferred to the local higher education

district by the levying government.

9. Include gifts for both current and capital uses. Include grants from private organizations

and individuals here. Include additions to permanent endowments if they are gifts. Exclude

gifts to component units.

10. Report the total interest earned in column 1. Include all funds and endowments.

11. Dividends should be reported separately if available. Report only the total, in column 1,

from all funds including endowments but excluding dividends of any component units. Note:

if dividends are not separately available, please report include with Interest earnings in J10,

column 1.

12. Report only the total earnings. The Census Bureau does not treat unrealized gains as

revenues. Use column 1 only.

Part K - Expenditures

Report only in the unshaded blocks. Information for shaded blocks is obtained from other Parts of

this form, or is not applicable to your institution. 

Line

1. Report only the salaries & wages for Education and General and for Agricultural

extension/experiment services, if applicable. The Census Bureau will obtain all other detail

from Part C.

2. Report only the employee benefits for staff associated with Education and General and for

Agricultural extension/experiment services, if applicable. The Census Bureau will obtain all

other detail from Part C.

3. Applies to state institutions only. Include amounts paid to retirement systems operated by

your state government only. Include employer contributions only. Exclude employee

contributions withheld.

4. Includes supplies, materials, contracts and professional services, utilities, travel, and

insurance. Excludes both employer and employee contributions to retirement, scholarships

and fellowships (see line 09), capital outlay, and salaries.

5. Construction from all funds (plant, capital, or bond funds) includes expenditure for the

construction of new structures and other permanent improvements, additions

replacements, and major alterations. Report in proper column according to function.

6. Equipment purchases from all funds (plant, capital, or bond funds).

7. From all funds (plant, capital, or bond funds), include the cost of land and existing

structures, as well as the purchase of rights-of-way.

8. Interest paid on revenue debt only. Includes interest on debt issued by the institution, such

as that which is repayable from pledged earnings, charges or gees (e.g. dormitory,

stadium, or student union revenue bonds). Report only the total, in column 1. Excludes

interest expenditure of the parent state or local government on debt issued on behalf of the

institution and backed by that parent government. Also excludes interest on debt issued by

a state dormitory or housing finance agency on behalf of the institution.

9. Do not report. The Census Bureau will obtain all amounts from Part E.

Part L - Debt and Assets

Report only in the unshaded blocks. Information for shaded blocks is obtained from other Parts of

this form, or is not applicable to your institution. 

Lines 01 through 06 – Include revenue debt only. Includes debt issued by the institution, such as

that which is repayable from pledged earnings, charges or fees (e.g. dormitory, stadium, or

student union revenue bonds). Excludes debt of the parent state or local government issued on

behalf of the institution and backed by that parent government. Also excludes debt issued by a

state dormitory or housing finance agency on behalf of the institution. Report the appropriate

category. Long-term debt and short-term debt are distinguished by length of term for repayment,

with one year being the boundary. Short-term debt must be interest bearing. 
Lines 07, 08, and 09 – Report the total amount of cash and security assets held in each category.

Report assets at book value to the extent possible. Includes ash on hand in each type of fund.

Sinking funds are those used exclusively to service debt. Bond funds are those established by your

institution to disburse revenue bond proceeds. (Exclude bond funds established by your parent

state or local government to disburse the proceeds of debt they guarantee.) All other funds might

include current, plant, or endowment funds. Exclude the value of fixed assets and exclude any

student loan funds established by the Federal government. 
Glossary date: 12/4/2012

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.

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.

Dividend earnings Distribution of earnings to shareholders that may be in the form of cash, stock, or property.

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.

Gifts Revenues received from gift or contribution nonexchange transactions. 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.

FASB and GASB standards differ somewhat on when to recognize contributions or nonexchange

revenues, with FASB standards generally causing revenues to be recognized earlier in certain

circumstances.

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.

Grants by state

government

These are state monies awarded to the institution under student financial aid programs , including the

state portion of State Student Incentive Grants (SSIG).

Institutional grants from

restricted resources

Institutional grants to students funded from restricted-expendable resources for student aid, such as

scholarships and fellowships. (Used for reporting under GASB Standards.)

Institutional grants from

unrestricted resources

Institutional grants to students that are funded from resources that are not restricted to any

particular purpose. (Used for reporting under GASB 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.

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.

Local appropriations,

education district taxes,

and similar support

Local appropriations are government appropriations made by a governmental entity below the state

level. Education district taxes include all tax revenues assessed directly by an institution or on behalf

of an institution when the institution will receive the exact amount collected. These revenues also

include similar revenues that result from actions of local governments or citizens (such as through a

referendum) that result in receipt by the institution of revenues based on collections of other taxes or

resources (sales taxes, gambling taxes, etc.).

Local grants Local monies awarded to the institution under local government student aid programs .

Nonoperating GASB requires that revenues and expenses be separated between operating and nonoperating.

Operating revenues and expenses result from providing goods and services. Nonoperating activities

are those outside the activities that are part of the operating activities of the institution. Most

government appropriations are nonoperating because they are not generated by the operations of the

institution. Investment income is nonoperating in most instances because institutions are not

engaged in investing as an operating activity. Gifts are defined as nonoperating. Nonexchange

transactions generate nonoperating revenues.

Operating GASB requires that revenues and expenses be separated between operating and nonoperating.

Operating revenues and expenses result from providing goods and services. Operating transactions

are incurred in the course of the operating activities of the institution.

Operation and

maintenance of plant

(expenses -- FASB and

GASB aligned form

reporters)

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. FASB institutions do not use this function. Instead these expenses are

charged to or allocated to other functions.

Other federal grants Federal monies awarded to the institution under federal government student aid programs, such as

Supplemental Educational Opportunity Grants (SEOG), DHHS training grants (aid portion only), State

Student Incentive Grants (SSIG), 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 & 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 & 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.

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.

Realized capital gains A capital gain on securities held in a portfolio that has become actual by the sale or other type of

surrender of one or many securities.

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 & 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 (expenses)

That portion of scholarships and fellowships granted that exceeds the amount applied to institutional

charges such as tuition and fees or room and board. The amount reported as expense excludes

allowances and discounts. The FASB survey uses the term "net grants in aid to students" rather than

"scholarships and fellowships."

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.

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.
2012-13 Survey Materials > F.A.Q. date: 12/4/2012

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 received funds from the American Recovery and Reinvestment Act (ARRA). Where should they be reported?

4) We haven’t been audited yet and won’t have an audited financial statement until May. Do I still have to fill this out?

5) What period should the finance survey cover?

7) How do I know what reporting standards are used to prepare the financial statements?

8) What happens if I respond incorrectly to the reporting standards screening question?

9) What is the difference between “business-type” activities and “governmental” activities?

10) What is combined ("parent/child") reporting and how does it work?

11) Can a system office report combined data?

12) When does a system office need to report data?

13) 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?

14) My institution does not award degrees. Do we still need to complete the Finance component?

15) 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?

16) 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) I see the term CV on several lines of the finance survey. What is this referring to?

3) What are operating versus nonoperating revenues?

4) We reported federal appropriations in operating revenues rather than non-operating revenues in our financial statements. How

should I report them on IPEDS?

5) What are some examples of independent operations?

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) What are discounts and allowances (Part E)? (We don’t discount our tuition.)

8) We do not capitalize our library. Do I report it on Part A page 2?

9) Why does operation and maintenance of plant appear as both a row and column in Part C (expenses and other deductions)?

10) 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?

11) If my institution is a GASB-reporter, where should my institution report the gain or loss on the sale of a plant asset?

12) Where did component units go?

Private Not-for-Profit and Public Institutions Using FASB

1) My institution is primarily a hospital with a small instruction program. How should I report the hospital part of my institution?

2) What are some examples of independent operations?

3) What value do I use to report plant, property, and equipment on the second page of Part A?

4) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?

5) I see the term CV on several lines of the finance survey. What is this referring to?

6) What is the difference between funded and unfunded institutional grants as reported on the Student Grants part of the survey?

7) What are allowances in Part C (Scholarships and Fellowships)?

8) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?

Private for-profit institutions

1) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?

2) I see the term CV on several lines of the finance survey. What is this referring to?

3) What are allowances in Part C (Student Grants)?

4) 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?

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 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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4) 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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5) 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, 2012. 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, 2012. If your institution’s fiscal year ends on December 31, your financial

statements for the year ending December 31, 2011 would be used.

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7) 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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8) 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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9) 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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10) 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_03072007_2.asp for more information on parent/child

relationships.

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11) 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_03072007_2.asp. If a system will be reporting this

way, they must contact the Help Desk before reporting combined data.

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12) 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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13) 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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14) 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. A more detailed description can be found at

http://nces.ed.gov/ipeds/submit_data/changes0910.asp

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15) 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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16) 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 winter 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) 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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3) 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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4) 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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5) 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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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. Nonoperating expenses, such as

interest on debt, should be reported on Part C.

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7) 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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8) 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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9) 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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10) 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/Business_and_Policy_Areas/Accounting/Advisory_Reports/Advisory_Report_2010-

1_Public_Institution_Methodologies_for_Allocation_Depreciation_Operation_and_Maintenance_of_Plant_and_

Interest_Expense-x11205-ml.html. to assist public institutions to develop 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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11) 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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12) Where did component units go?

Separate reporting was eliminated when institutions moved to the new aligned reporting that was

mandatory starting in 2010-11.

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Private Not-for-Profit and Public Institutions Using FASB

1) 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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2) 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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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) 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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5) 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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6) What is the difference between funded and unfunded institutional grants as reported on the Student Grants 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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7) 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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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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Private for-profit institutions

1) 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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2) 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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3) What are allowances in Part C (Student Grants)?

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) 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 functional categories listed for expenses are recommended by the National Association of College and

University Business Officers (NACUBO). You should do your best to determine which of these functional

categories are most fitting for your institutions. If you need further assistance classifying your expenses,

please call the Help Desk.

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2012-13 Survey Materials > Narrative Edits date: 12/4/2012

Finance for non-degree granting public institutions using GASB Reporting Standards

Edit specifications for the 2012-13 IPEDS Web-Based Data Collection

Finance Component

Applicable to Public GASB-reporting institutions

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: Assets and Property

Part E: Scholarships and Fellowships

Part B: Revenues and Other Additions

Part C: Expenses and Other Deductions

Part D: Summary of Changes in Net Assets

Part H: Details of Endowment Assets

Part J: Census Revenue Data

Part K: Census Expenditure Data

Part L: Debt and Assets

Screening Questions

Reporting Method

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 FASB for the question above, then you are not referencing the correct narrative edit document. Please

refer to the document for Public FASB-reporting institutions.

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, 2012.

• 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, 2012.

• 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.)

• Applicable to degree-granting institutions

Indicate which of the following three alternative reporting models available for special-purpose governments (from

GASB Statement No. 34) is used by your institution:

◦ Business Type Activities

◦ Governmental Activities

◦ Governmental Activities with Business Type Activities

• Applicable to degree-granting institutions

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 provide an explanation in the context box at the bottom of

the screen.)

• Applicable to degree-granting institutions

Does your institution or any of its foundations or other affiliated organizations own endowment assets? Choose

Yes or No.

◦ If Yes is selected, an additional screen will be provided to report these assets in Part H.

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 2010 or 2011.

• The Year entered for the Ending date of the fiscal year should be either 2011 or 2012.

• The fiscal year Beginning date cannot be earlier than September 2010.

• The fiscal year Ending date cannot be later than October 2012.

• 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: Assets and Property

Applicable to institutions that are NOT children

For Part A, you must report your institution’s assets, liabilities, net assets, and capital assets for the most recent 12-month

fiscal year.

Statement of Net Assets, Page 1

Enter the Current year amount for each of the following:

• Total current assets (line 01)

• Depreciable capital assets, net of depreciation (line 31)

• Total noncurrent assets (line 05)

• Long-term debt, current portion (line 07)

• Total current liabilities (line 09)

• Long-term debt, noncurrent portion (line 10)

• Total noncurrent liabilities (line 12)

• Invested in capital assets, net of related debt (line 14)

• Restricted net assets-expendable (line 15)

• Restricted net assets-nonexpendable (line 16)

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 current assets (line 01).

• The value reported for Total current assets must be greater than 0.

• The calculated value for Total assets (line 06) 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 or equal to 0, then the current year value may NOT be

equal to that amount.

• The calculated value for Other current liabilities (line 08) cannot be negative.

• The value reported for Total current liabilities (line 09) is expected to be greater than 0.

• The calculated value for Other noncurrent liabilities (line 11) cannot be negative.

• The calculated value for Total liabilities (line 13) 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 or equal to 0, then the current year value may NOT

be equal to that amount.

• A value is expected to be entered for Invested in capital assets, net of related debt (line 14).

• The value reported for Invested in capital assets, net of related debt cannot be negative.

• The calculated value for Unrestricted net assets (line 17) is expected to be greater than 0.

• The calculated value for Total net assets (line 18) cannot be negative.

Statement of Net Assets, Page 2

On this screen, enter the Ending balance for each of the following:

• Land and land improvements (line 21)

• Infrastructure (line 22)

• Buildings (line 23)

• Equipment, including art and library collections (line 32)

• Construction in progress (line 27)

• Accumulated depreciation (line 28)

• Intangible assets, net of accumulated amortization (line 33)

• Other capital assets (line 34)

Upon saving the screen, the system uses the first five items above to calculate a Total for Plant, Property and Equipment

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:

• The value reported for Accumulated Depreciation (line 28) is expected to be greater than 0.

• The calculated Total for Plant, Property and Equipment is expected to be greater than 0.

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Part E: Scholarships and Fellowships

On this screen, you must report details about your institution’s scholarship and fellowship expenses for the most recent 12-

month fiscal year.

Enter the Current year amount for each of the following:

• Pell grants, federal (line 01)

• Other federal grants (line 02)
• Grants by state government (line 03)

• Grants by local government (line 04)

• Institutional grants from restricted resources (line 05)

• Total gross scholarships and fellowships (line 07)

• Discounts and allowances applied to tuition and fees (line 08)

Upon saving the screen, the system uses the above values to calculate additional information such as Institutional grants from

unrestricted resources (line 06), Total discounts and allowances (line 10 = Line 08 +line 09), and Net scholarships and

fellowships expenses after deducting discounts and allowances (line 11 = line 07 - line 10) 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 your institution is NOT an administrative office, 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 Grants by state government (line 03).

• The calculated value for Institutional grants from unrestricted sources (line 06) cannot be negative.

• If the Prior year amount of Total gross scholarships and fellowships is greater than or equal to 0, then the

current year value may NOT be equal to that amount.

• If the Prior year amount of Total gross scholarships and fellowships is greater than 0, then the current

year value is expected to be within a 50% range of that amount.

• If your institution is NOT an administrative office, then a value must be entered for Discounts and allowances

applied to tuition and fees (line 08).

• The value reported for Discounts and allowances applied to tuition and fees (line 08) is expected to be

greater than 0.

• If the Prior year amount of Discounts and allowances applied to tuition and fees is greater than 0, then

the current year value is expected to be within a 50% range of that amount.

• Applicable to degree-granting institutions

If your institution reported a value greater than 0 for Sales and services of auxiliary enterprises on the

Operating Revenues screen in Part B of this survey, then you are also expected to report Discounts and

allowances applied to sales and services of auxiliary enterprises on this screen.

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Part B: Revenues and Other Additions

For Part B, you must report your institution’s operating revenues, nonoperating revenues, and other revenues using the

screens provided.

Operating Revenues, Part 1

On this screen, you must report your institution’s operating revenues for the most recent 12-month fiscal year.

Applicable to 4-year degree-granting institutions

Enter the Current year amount for each of the following:

• Tuition and fees (line 01)

• Federal operating grants and contracts (line 02)

• State operating grants and contracts (line 03)

• Local government operating grants and contracts (line 04a)

• Private operating grants and contracts (line 04b)

• Sales and services of auxiliary enterprises (line 05)

• Sales and services of hospitals (line 06)

• Sales and services of educational activities (line 26)

• Independent operations (line 07)

• Total operating 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:

• 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

amount.

• The value reported for Sales and services of hospitals (line 06) cannot be negative.

• The value reported for Sales and services of hospitals is expected to account for less than 75% of the Total all

revenues and other additions value calculated on the Other Revenues screen outlined in Part 3 below.

• The value reported for Independent operations (line 07) cannot be negative.

• The calculated value for Other operating sources (line 08) cannot be negative.

• A value must be entered for Total operating revenues (line 09).

• The value reported for Total operating revenues is expected to be greater than 0.

• The value reported for Total operating revenues is expected to be within a 50% range of the corresponding

Prior year amount.

• If the Prior year amount of Total operating revenues is greater than or equal to 0, then the current year

value may NOT be equal to that amount.

Applicable to 2-year degree-granting institutions, and all administrative offices

Enter the Current year amount for each of the following:

• Tuition and fees (line 01)

• Federal operating grants and contracts (line 02)
• State operating grants and contracts (line 03)

• Local government operating grants and contracts (line 04a)

• Private operating grants and contracts (Line 04b)

• Sales and services of auxiliary enterprises (line 05)

• Sales and services of educational activities (line 26)

• Total operating 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 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

amount.

• The calculated value for Other operating sources (line 08) cannot be negative.

• A value must be entered for Total operating revenues (line 09).

• The value reported for Total operating revenues is expected to be greater than 0.

• The value reported for Total operating revenues is expected to be within a 50% range of the corresponding

Prior year amount.

• If the Prior year amount of Total operating revenues is greater than or equal to 0, then the current year

value may NOT be equal to that amount.

Applicable to non-degree-granting institutions

Enter the Current year amount for each of the following:

• Tuition and fees (line 01)

• Federal operating grants and contracts (line 02)

• State operating grants and contracts (line 03)

• Local government operating grants and contracts (line 04a)

• Private operating grants and contracts (line 04b)

• Sales and services of educational activities (line 26)

• Total operating 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:

• 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

amount.

• The calculated value for Other operating sources (line 08) cannot be negative.

• A value must be entered for Total operating revenues (line 09).

• The value reported for Total operating revenues is expected to be greater than 0.

• The value reported for Total operating revenues is expected to be within a 50% range of the corresponding

Prior year amount.

• If the Prior year amount of Total operating revenues is greater than or equal to 0, then the current year

value may NOT be equal to that amount.

Nonoperating Revenues, Part 2

On this screen, you must report your institution’s nonoperating revenues for the most recent 12-month fiscal year.

Enter the Current year amount for each of the following:

• Federal appropriations (line 10)

• State appropriations (line 11)

• Local appropriations, education district taxes and similar support (line 12)

• Federal nonoperating grants (line 13)

• State nonoperating grants (line 14)

• Local government nonoperating grants (line 15)

• Gifts, including contributions from affiliated organizations (line 16)

• Investment income (line 17)

• Total nonoperating revenues (line 19)

Upon saving the screen, the system uses the above values and other values entered throughout Part B to calculate additional

information which may be used throughout this survey. Prior year amounts are displayed for your reference.

Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 28). These

values are used in combination with the reported data to calculate the Total operating and nonoperating revenues per

student FTE (line 29).

The system will perform the following edits on the data entered:

• A value must be entered for State appropriations (line 11).

• A value is expected to be entered for Federal nonoperating grants (line 13).

• If your institution is NOT an administrative office, then the value reported for Federal nonoperating grants (line

13) is expected to be greater than 0.

• The value reported for Federal nonoperating grants is expected to be greater than or equal to the amount

reported for Pell grants in Part E of this survey.

• If your institution is NOT an administrative office, then a value is expected to be entered for Gifts (line 16).

• The value reported for Other nonoperating revenues (line 18) cannot be negative.
• A value must be entered for Total nonoperating revenues (line 19).

• The value reported for Total nonoperating revenues is expected to be greater than 0.

• If the Prior year amount of Total nonoperating revenues is greater than or equal to 0, then the current year

value may NOT be equal to that amount.

• If your institution is a 4-year institution and a value greater than 0 is preloaded for the 12-month Student FTE

from E12 (line 28), then the calculated Total operating and nonoperating revenues per student FTE (line

29) value is expected to be between 75,000 and 100,000.

• If your institution is a 4-year institution and a value greater than 0 is preloaded for the 12-month Student FTE

from E12 (line 28), then the calculated Total operating and nonoperating revenues (line 27) value minus

Sales and Services of hospitals divided by the 12-month Student FTE from E12(line 28) is expected to be

between 8,000 and 500,000.

• 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 28), then the calculated Total operating and nonoperating revenues per student FTE (line

29) value is expected to be between 6,000 and 45,000.

Other Revenues, Part 3

On this screen, you must report your institution’s other revenues and additions for the most recent 12-month fiscal year.

Applicable to degree granting institutions

Enter the Current year amount for each of the following:

• Capital appropriations (line 20)

• Capital grants and gifts (line 21)

• Additions to permanent endowments (line 22)

• Total other revenues and additions (line 24)

Upon saving the screen, the system uses the above values and other values entered throughout Part B to calculate additional

information (including the Total all revenues and other additions (line 25) 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:

• The value reported for Additions to permanent endowments (line 22) cannot be negative.

• The calculated value for Other revenues and additions (line 23) cannot be negative.

• A value must be entered for Total other revenues and additions (line 24).

• The value reported for Total other revenues and additions cannot be negative.

• If your institution is NOT an administrative office, then the calculated value for Total all revenues and other

additions cannot be negative.

• The calculated value for Total all revenues and other additions is expected to be within a 50% range of the

corresponding Prior year amount.

• If the Prior year amount of Total all revenues and other additions is greater than or equal to 0, then the

current year value may NOT be equal to that amount.

• The value entered for Total all revenues and other additions (line 25) is expected to be greater than 0.

• If your institution is NOT an administrative office, and the calculated value for Total all revenues and other

additions (line 25) is greater than 100 million, then the value entered for Additions to permanent

endowments (line 22) should not be greater than 0.

• If your institution is NOT an administrative office, and the calculated value for Total all revenues and other

additions (line 25) is greater than 100 million, then the value entered for Total other revenues and additions

(line 24) should not be equal to 0.

Applicable to non-degree granting institutions

Enter the Current year amount for Total other revenues and additions (line 24).

Upon saving the screen, the system uses this value and other values entered throughout Part B to calculate the Total all

revenues and other additions (line 25) for use 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 other revenues and additions (line 24).

• The value reported for Total other revenues and additions cannot be negative.

• The calculated value for Total all revenues and other additions (line 25) should be greater than 0.

• The calculated value for Total all revenues and other additions cannot be negative.

• The calculated value for Total all revenues and other additions is expected to be within a 50% range of the

corresponding Prior year amount.

• If the Prior year amount of Total all revenues and other additions is greater than or equal to 0, then the

current year value may NOT be equal to that amount.

• If your institution is NOT an administrative office, then the value entered for Total all revenues and other

additions (line 25) is not expected to be negative.

• If your institution is NOT an administrative office, and the calculated value for Total all revenues and other

additions (line 25) is greater than 100 million, then the value entered for Total other revenues and additions

(line 24) should not be equal to 0.

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Part C: Expenses and Other Deductions

For Part C, you must report your institution’s expenses by function for the most recent 12-month fiscal year.

Applicable to 4-year degree-granting institutions

For each applicable expense type (Total amount, Salaries and wages, Employee fringe benefits, Operation and

maintenance of plant, Depreciation, and Interest), enter the amount of expenses incurred in each of the following functional

categories:

• Instruction (line 01)
• Research (line 02)

• Public service (line 03)

• Academic support (line 05)

• Student services (line 06)

• Institutional support (line 07)

• Operation and maintenance of plant (line 08)

• Scholarships and fellowships expenses (line 10)

• Auxiliary enterprises (line 11)

• Hospital services (line 12)

• Independent operations (line 13)

• Total expenses and deductions (line 19)

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 and deductions (line 14) incurred by expense type. For your

reference, the PY Total Amount for each functional category is displayed, along with the Prior year amount of Total

expenses and deductions by expense type.

Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 20). These

values are used in combination with the reported data to calculate the Total expenses and deductions per student FTE

(line 21).

The system will perform the following edits on the data entered:

• For all applicable functional categories, the values reported for each expense type must be less than or equal to

the Total amount (column 1) reported for that category.

• For lines 01 through 11, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1)

◦ Salaries and wages (column 2)

◦ Employee fringe benefits (column 3)

◦ Depreciation (column 5)

◦ All other (column 7)

• The Total amount reported for Instruction (line 01) is expected to be greater than 0.

• If the PY Total Amount displayed for Instruction is greater than 0, then the current year Total amount is

expected to be within a 50% range of that amount.

• If your institution is NOT and administrative office, the amount reported for the Operation and maintenance of

plant expense type (column 4) in the Operation and maintenance of plant category (line 08) is less than -1

million, and that value is not equal to 0, then the negative of the amount allocated to Instruction (line 01)

divided by column 4 line 8 should be between 10% and 70%.

• If the Total expenses and deductions entered 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 your institution is NOT an administrative office and the Total expenses and deductions entered 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.

• The Total amount entered for Research (line 02) is expected to be within a 50% range of the PY Total

Amount.

• A Total amount must be entered for Academic support (line 05).

• The Total amount reported for Academic support is expected to be greater than 0.

• A Total amount must be entered for Student services (line 06).

• The Total amount reported for Student services is expected to be greater than 0.

• A Total amount must be entered for Institutional support (line 07).

• The Total amount reported for Institutional support is expected to be greater than 0.

• 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 amount reported on this screen for the Operation and

maintenance of plant expense type (column 4) in the Operation and maintenance of plant category (line

08) must be negative.

• 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 in this column for the Operation and maintenance of plant category (line

08) must be less than or equal to 0.

• 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 reported for Auxiliary enterprises (line 11) on this

screen is also expected to be equal to 0.

• 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 reported for Hospital services (line 12) 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 reported for Independent operations (line 13) on this screen is also

expected to be equal to 0.

• The calculated amount of Other expenses and deductions (line 14) cannot be negative for any expense type.

• If the Total expenses and deductions entered for Depreciation (column 5) is greater than 1 million, then the

amount calculated for Other expenses (line 14) must be less than 50% of the total amount.

• If the Total expenses and deductions entered for Interest (column 5) is greater than 1 million, then the

amount calculated for Other expenses (line 14) must be less than 50% of the total amount.

• An amount must be entered for each expense type for Total expenses and deductions (line 19).

• For Total expenses and deductions, the values reported for the following expense types cannot be negative:
◦ Total amount (column 1)

◦ Salaries and wages (column 2)

◦ Employee fringe benefits (column 3)

◦ All other (column 7)

• The Total amount reported for Total expenses and deductions cannot be equal to the corresponding Prior

year amount.

• If the Total for Plant Property and Equipment reported in Part A of this survey is greater than 10 million,

then the Total expenses and deductions reported for Depreciation must be greater than 0.

• If your institution is NOT an administrative office and the Long term debt reported in Part A of this survey is

greater than 10 million, then the Total expenses and deductions reported for Interest must be greater than 0.

• The amount reported for each expense type for Total expenses and deductions is expected to be within a 50%

range of the corresponding Prior year amount.

• The sum of Total operating revenues and Total nonoperating revenues reported in Part B of this survey is

expected to be within a 25% range of the Total amount reported for Total expenses and deductions on this

screen.

• If the 12-month Student FTE from E12 is greater than 0, then the Total amount reported for Total expenses

and deductions minus the Total amount reported for Hospital services (line 12) is expected to be within a

range of 8,000 to 500,000 times the value of the 12-month Student FTE from E12.

Applicable to 2-year degree-granting institutions

For each applicable expense type (Total amount, Salaries and wages, Employee fringe benefits, Operation and

maintenance of plant, Depreciation, and Interest), enter the amount of expenses incurred in each of the following functional

categories:

• Instruction (line 01)

• Research (line 02)

• Public service (line 03)

• Academic support (line 05)

• Student services (line 06)

• Institutional support (line 07)

• Operation and maintenance of plant (line 08)

• Scholarships and fellowships expenses (line 10)

• Auxiliary enterprises (line 11)

• Total expenses and deductions (line 19)

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 and deductions (line 14) incurred by expense type. For your

reference, the PY Total Amount for each functional category is displayed, along with the Prior year amount of Total

expenses and deductions by expense type.

Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 20). These

values are used in combination with the reported data to calculate the Total expenses and deductions per student FTE

(line 21).

The system will perform the following edits on the data entered:

• For all applicable functional categories, the values reported for each expense type must be less than or equal to

the Total amount (column 1) reported for that category.

• For lines 01 through 11 the values reported for the following expense types cannot be negative:

◦ Total amount (column 1)

◦ Salaries and wages (column 2)

◦ Employee fringe benefits (column 3)

◦ Depreciation (column 5)

◦ All other (column 7)

• The Total amount reported for Instruction (line 01) is expected to be greater than 0.

• If the PY Total Amount displayed for Instruction is greater than 0, then the current year Total amount is

expected to be within a 50% range of that amount.

• If your institution is NOT and administrative office, the amount reported for the Operation and maintenance of

plant expense type (column 4) in the Operation and maintenance of plant category (line 08) is less than -1

million, and that value is not equal to 0, then the negative of the amount allocated to Instruction (line 01)

divided by column 4 line 8 should be between 10% and 70%.

• If the Total expenses and deductions entered 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 your institution is NOT an administrative office and the Total expenses and deductions entered 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.

• The Total amount entered for Research (line 2) is expected to be within a 50% range of the PY Total Amount.

• A Total amount must be entered for Academic support (line 05).

• The Total amount reported for Academic support is expected to be greater than 0.

• A Total amount must be entered for Student services (line 06).

• The Total amount reported for Student services is expected to be greater than 0.

• A Total amount must be entered for Institutional support (line 07).

• The Total amount reported for Institutional support is expected to be greater than 0.
• 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 amount reported on this screen for the Operation and

maintenance of plant expense type (column 4) in the Operation and maintenance of plant category (line

08) must be negative.

• 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 in this column for the Operation and maintenance of plant category (line

08) must be less than or equal to 0.

• 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 reported for Auxiliary enterprises (line 11) on this

screen is also expected to be equal to 0.

• The calculated amount of Other expenses and deductions (line 14) cannot be negative for any expense type.

• If the Total expenses and deductions entered for Depreciation (column 5) is greater than 1 million, then the

amount calculated for Other expenses (line 14) must be less than 50% of the total amount.

• If the Total expenses and deductions entered for Interest (column 5) is greater than 1 million, then the

amount calculated for Other expenses (line 14) must be less than 50% of the total amount.

• An amount must be entered for each expense type for Total expenses and deductions (line 19).

• For Total expenses and deductions, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1)

◦ Salaries and wages (column 2)

◦ Employee fringe benefits (column 3)

◦ All other (column 7)

• The Total amount reported for Total expenses and deductions cannot be equal to the corresponding Prior

year amount.

• If the Total for Plant Property and Equipment reported in Part A of this survey is greater than 10 million,

then the Total expenses and deductions reported for Depreciation must be greater than 0.

• If your institution is NOT an administrative office and the Long term debt reported in Part A of this survey is

greater than 10 million, then the Total expenses and deductions reported for Interest must be greater than 0.

• The amount reported each expense type for Total expenses and deductions is expected to be within a 50%

range of the corresponding Prior year amount.

• The sum of Total operating revenues and Total nonoperating revenues reported in Part B of this survey is

expected to be within a 25% range of the Total amount reported for Total expenses and deductions on this

screen.

Applicable to all administrative offices

For each applicable expense type (Total amount, Salaries and wages, Employee fringe benefits, Operation and

maintenance of plant, Depreciation, and Interest), enter the amount of expenses incurred in each of the following functional

categories:

• Instruction (line 01)

• Research (line 02)

• Public service (line 03)

• Academic support (line 05)

• Student services (line 06)

• Institutional support (line 07)

• Operation and maintenance of plant (line 08)

• Scholarships and fellowships expenses (line 10)

• Auxiliary enterprises (line 11)

• Total expenses and deductions (line 19)

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 and deductions (line 14) incurred by expense type. For your

reference, the PY Total Amount for each functional category is displayed, along with the Prior year amount of Total

expenses and deductions by expense type.

Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 20). These

values are used in combination with the reported data to calculate the Total expenses and deductions per student FTE

(line 21).

The system will perform the following edits on the data entered:

• For all applicable functional categories, the values reported for each expense type must be less than or equal to

the Total amount (column 1) reported for that functional category.

• For lines 01 through 11 the values reported for the following expense types cannot be negative:

◦ Total amount (column 1)

◦ All other (column 7)

• For lines 07 and 11 the values reported for the following expense types cannot be negative:

◦ Salaries and wages (column 2)

◦ Employee fringe benefits (column 3; as well as for line 02)

◦ Depreciation (column 5)

• If the amount of Tuition and fees reported on the Operating Revenues screen 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

◦ Salaries and wages

◦ Employee fringe benefits

◦ Depreciation

• If the amount of Tuition and fees reported on the Operating Revenues screen in Part B of this survey is equal

to 0, then the values reported for Public service (line 03) on this screen are also expected to be equal to 0 for

the following expense types:

◦ Total amount

◦ Salaries and wages

◦ Employee fringe benefits

◦ Depreciation

• 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 in this column for the Operation and maintenance of plant category (line

08) must be less than or equal to 0.

• 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 reported for Auxiliary enterprises (line 11) on this

screen is also expected to be equal to 0.

• The calculated amount of Other expenses and deductions (line 14) cannot be negative for any expense type.

• If the Total expenses and deductions entered for Depreciation (column 5) is greater than 1 million, then the

amount calculated for Other expenses (line 14) must be less than 50% of the total amount.

• If the Total expenses and deductions entered for Interest (column 5) is greater than 1 million, then the

amount calculated for Other expenses (line 14) must be less than 50% of the total amount.

• An amount must be entered for each expense type for Total expenses and deductions (line 19).

• For Total expenses and deductions, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1)

◦ Salaries and wages (column 2)

◦ Employee fringe benefits (column 3)

◦ All other (column 7)

• The amount reported for each expense type for Total expenses and deductions cannot be equal to the

corresponding Prior year amount.

• If the Total for Plant Property and Equipment reported in Part A of this survey is greater than 10 million,

then the Total expenses and deductions reported for Depreciation must be greater than 0.

• The Total amount reported for Total expenses and deductions is expected to be within a 50% range of the

corresponding Prior year amount.

Applicable to non-degree-granting institutions

For each applicable expense type (Total amount, Salaries and wages, Employee fringe benefits, Operation and

maintenance of plant, Depreciation, and Interest), enter the amount of expenses incurred in each of the following functional

categories:

• Instruction (line 01)

• Research (line 02)

• Public service (line 03)

• Academic support (line 05)

• Student services (line 06)

• Institutional support (line 07)

• Operation and maintenance of plant (line 08)

• Scholarships and fellowships expenses (line 10)

• Total expenses and deductions (line 19)

Upon saving the screen, the system will use the above values to calculate the amount of All other expenses (column 7)

incurred within each functional category, and the amount of Other expenses and deductions (line 14) by expense type. For

your reference, the PY Total Amount for each functional category is displayed, along with the Prior year amount of Total

expenses and deductions by expense type.

Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 20). These

values are used in combination with the reported data to calculate the Total expenses and deductions per student FTE

(line 21).

The system will perform the following edits on the data entered:

• For all applicable functional categories, the values reported for each expense type must be less than or equal to

the Total amount (column 1) reported for that category.

• For lines 01 through 11, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1)

◦ Salaries and wages (column 2)

◦ Employee fringe benefits (column 3)

◦ Depreciation (column 5)

◦ All other (column 7)

• The Total amount reported for Instruction (line 01) is expected to be greater than 0.

• If the PY Total Amount displayed for Instruction is greater than 0, then the current year Total amount is

expected to be within a 50% range of that amount.
• If your institution is NOT and administrative office, the amount reported for the Operation and maintenance of

plant expense type (column 4) in the Operation and maintenance of plant category (line 08) is less than -1

million, and that value is not equal to 0, then the negative of the amount allocated to Instruction (line 01)

divided by column 4 line 8 should be between 10% and 70%.

• If the Total expenses and deductions entered 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 your institution is NOT an administrative office and the Total expenses and deductions entered 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.

• The Total amount entered for Research (line 2) is expected to be within a 50% range of the PY Total Amount.

• A Total amount must be entered for Academic support (line 05).

• The Total amount reported for Academic support is expected to be greater than 0.

• A Total amount must be entered for Student services (line 06).

• The Total amount reported for Student services is expected to be greater than 0.

• A Total amount must be entered for Institutional support (line 07).

• The Total amount reported for Institutional support is expected to be greater than 0.

• If the Total for Plant, Property and Equipment calculated on the Statement of Net Assets, Page 2 screen in

Part A is greater than 10 million, then the amount reported on this screen for the Operation and maintenance

of plant expense type (column 4) in the Operation and maintenance of plant category (line 08) must be

negative.

• 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 in this column for the Operation and maintenance of plant category (line

08) must be less than or equal to 0.

• The calculated amount of Other expenses and deductions (line 14) cannot be negative for any expense type.

• If the Total expenses and deductions entered for Depreciation (column 5) is greater than 1 million, then the

amount calculated for Other expenses (line 14) must be less than 50% of the total amount.

• If the Total expenses and deductions entered for Interest (column 5) is greater than 1 million, then the

amount calculated for Other expenses (line 14) must be less than 50% of the total amount.

• An amount must be entered for each expense type for Total expenses and deductions (line 19).

• For Total expenses and deductions, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1)

◦ Salaries and wages (column 2)

◦ Employee fringe benefits (column 3)

◦ All other (column 7)

• The Total amount reported for Total expenses and deductions cannot be equal to the corresponding Prior

year amount.

• If the Total for Plant Property and Equipment reported in Part A of this survey is greater than 10 million,

then the Total expenses and deductions reported for Depreciation must be greater than 0.

• If your institution is NOT an administrative office and the Long term debt reported in Part A of this survey is

greater than 10 million, then the Total expenses and deductions reported for Interest must be greater than 0.

• The amount reported for each expense type for Total expenses and deductions is expected to be within a 50%

range of the corresponding Prior year amount.

• The sum of Total operating revenues and Total nonoperating revenues reported in Part B of this survey is

expected to be within a 25% range of the Total amount reported for Total expenses and deductions on this

screen.

• If your institution is a 4-year institution, and the 12-month Student FTE from E12 (line 20) is greater than 0,

then the Total amount reported for Total expenses and deductions (line 19) is expected to be within a range

of 8,000 to 500,000 times the value of the 12-month Student FTE from E12.

Top

Part D: Summary of Changes in Net Assets

Applicable to institutions that are NOT children or partial parents

On this screen, you must report details about your institution’s changes in net assets for the most recent 12-month fiscal year.

Enter the Current year amount for Net assets beginning of year (line 04).

The values for Total Revenues and other additions (from Part B),Total expenses and deductions (from Part C), and Net

assets end of year (from Part A) are preloaded for your reference. 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 calculated value for Change in net assets during year (line 03) is expected to be greater than 0.

• The calculated value for Adjustments to beginning net assets (line 05) is expected to be between -10 million

and 10 million.

• The Prior year amount of Net assets end of year (line 06) is expected to be equal to Net Assets beginning

of year (line 04).

Applicable to institutions that are partial parents

On this screen, you must report details about changes in net assets for your institution and all of its children for the most

recent 12-month fiscal year.

Enter the Current year amount for each of the following:

• Total revenues and other additions (line 01)

• Total expenses and deductions (line 02)

• Net assets beginning of year (line 04)
The value for Net assets end of year (from Part A) is displayed for your reference. Upon saving the screen, the system uses

the above values to calculate additional information which may be used throughout this survey.

The system will perform the following edits on the data entered:

• The value reported for Total revenues and other additions (line 01) on this screen must be greater than the

calculated Total all revenues and other additions on the Other Revenues screen in Part B of this survey.

• The value reported for Total expenses and deductions (line 02) on this screen must be greater than the Total

amount reported for Total expenses and deductions in Part C of this survey.

• The calculated value for Adjustments to beginning net assets (line 05) is expected to be between -10 million

and 10 million.

Top

Part H: 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.

• A value greater than 0 must be entered for Endowment assets at the end of the fiscal year (line 02).

• 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.

Top

Part J: Census Revenue Data

On this screen, you must report your institution’s revenue data for the U.S. Census Bureau for the most recent 12-month fiscal

year.

For each applicable expense type (Total for all funds and operations, Education and general/independent operations,

Auxiliary enterprises, Hospitals, and Agriculture extension/experiment services), enter an amount for each of the

following source types:

• Sales and Services (line 02)

• Federal grant and contracts, excludes Pell grants (line 03)

• State appropriations, current and capital (line 04)

• State grants and contracts (line 05)

• Local appropriation, current and capital (line 06)

• Local government grants and contracts (line 07)

• Receipts from property and non-property taxes (line 08)

• Gifts and private grants, including capital grants (line 09)

• Interest earnings (line 10)

• Dividend earnings (line 11)

• Realized capital gains (line 12)

No edits are performed on the data entered on this screen.

Top

Part K: Census Expenditure Data

On this screen, you must report your institution’s expenditure data for the U.S Census Bureau for the most recent 12-month

fiscal year.

For each applicable type of revenue (Total for all funds and operations, Education and general/independent operations

, Auxiliary enterprises, Hospitals, and Agriculture extension/experiment services), enter an amount for each of the

following source types:

• Salaries and wages (line 01)

• Employee benefits, total (line 02)

• Payment to state retirement funds, may be included in employee benefits (line 03)

• Current expenditures other than salaries (line 04)

• Construction (line 05)

• Equipment purchases (line 06)

• Land purchases (line 07)

• Interest on debt outstanding, all funds and activities (line 08)

No edits are performed on the data entered on this screen.

Top

Part L: Debt and Assets

For Part L, you must report your institution’s debt and assets for the U.S Census Bureau for the most recent 12-month fiscal

year.

Debt

Enter an amount for each of the following categories related to your institution’s debt:

• Long-term debt outstanding at beginning of fiscal year (line 01)

• Long-term debt issued during fiscal year (line 02)
• Long-term debt retired during fiscal year (line 03)

• Long-term debt outstanding at end of fiscal year (line 04)

• Short-term debt outstanding at beginning of fiscal year (line 05)

• Short-term debt outstanding at end of fiscal year (line 06)

No edits are performed on the data entered on this screen.

Assets

Enter an amount for each of the following categories related to your institution’s assets:

• Total cash and security assets held at end of fiscal year in sinking or debt service funds (line 07)

• Total cash and security assets held at end of fiscal year in bond funds (line 08)

• Total cash and security assets held at end of fiscal year in all other funds (line 09)

No edits are performed on the data entered on this screen.

Top
2012-13 Survey Materials > Form date: 12/4/2012

Finance for non-degree granting private, not-for-profit institutions and public

institutions using FASB Reporting Standards

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, 2012.)

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 Qualified (Explain in box

below)

Don't know (Explain 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?

 Pass through

(agency)

Federal grant revenue Does not award Pell grants 

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 2012

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 Total scholarships and fellowships

CV=[C01+...+C06]

 

08 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 2012

Line

No. Source of Funds Total

Amount

Unrestricted Temporarily

restricted

Permanently

restricted

Prior Year

Total

Amount

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.
Part E - Expenses by Functional and Natural Classification 

Most recent fiscal year ending before October 2012

Report Total Operating AND Non-Operating Expenses in this section

(1) (2) (3) (4) (5) (6) (7) (8)

Line

No.

Expenses by

Functional

Classification

Total

amount

Salaries

and wages

Benefits Operation

and

maintenance

of plant

DepreciationInterest All

other

PY

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)

0 

12 Other expenses

CV=[E13-(E01+...+E11)]

 

13 Total expenses 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.
Prepared by 

This survey component was prepared by:

 

Keyholder

 

SFA Contact

 

HR Contact

 

Finance Contact

 

Other

Name:

Email:

How long did it take to prepare this survey component? hours minutes

The name of the preparer is being collected so that we can follow up with the appropriate person in the event that there

are questions concerning the data. The Keyholder will be copied on all email correspondence to other preparers.

The time it took to prepare this component is being collected so that we can continue to improve our estimate of the

reporting burden associated with IPEDS. Please include in your estimate the time it took for you to review instructions,

query and search data sources, complete and review the component, and submit the data through the Data Collection

System.

Thank you for your assistance.
2012-13 Survey Materials > Instructions date: 12/4/2012

Finance Not-for-Profit (FASB) non degree

Purpose of component

Changes in Reporting

General Information and Instructions

Coverage

Where data appears

Detailed Instructions Header

Screening questions

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

Changes in Reporting

There are no changes in reporting for the 2012-13 finance data collection.

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, 2012. For institutions with fiscal years ending on

December 31, this would be the calendar year 2011.

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 Universities' Business

Officers (NACUBO). To provide additional help, accounting terms are underlined and colored blue.

These terms are linked to definitions found in the on-line 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.
 Image description. Top of Page End of image description.

 Image description. Top of Page End of image description.

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.

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.

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 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.

Where to Get Help

IPEDS Data Collection Help Desk

Phone: 1-877-225-2568

Email: ipedshelp@rti.org

AIR Website

You can also consult the AIR website that contains several tutorials on IPEDS data collection, a self-paced

overview of IPEDS tools and other valuable resources.

IPEDS Resources Page

In addition, the IPEDS Resources Page contains frequently asked questions, a link to the glossary, data tip

sheets, an archive of survey instruments, information on the new race/ethnicity categories and other relevant

information.

Where to Get Additional Get 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 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

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

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.

OR

• 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.

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.

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 undergraduate 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." 

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 Supplemental Education Opportunity Grants (SEOG), DHHS training grants

(aid portion only), DOD grants, Department of Veterans Affairs grants, and the federal protion 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 Work Study amounts.

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 07 equals gross auxiliary enterprise revenue. (FARM 460)

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

donor-imposed 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.

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 at:

http://www.nacubo.org/Business_and_Policy_Areas/Accounting/Advisory_Reports/Advisory_Report

_2010-

1_Public_Institution_Methodologies_for_Allocation_Depreciation_Operation_and_Maintenance_of_P

lant_and_Interest_Expense-x11205-ml.html.

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.
Glossary date: 12/4/2012

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.

Benefits Payments made to or on behalf of an individual over and above that received in the form of a salary

or wage. Frequently this is associated with an insurance payment.

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.

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 grants

(grants/educational

assistance funds)

Grants provided by federal agencies such as the U.S. Department of Education, including Title IV Pell

Grants and Supplemental Educational Opportunity Grants (SEOG). Also includes need-based and

merit-based educational assistance funds and training vouchers provided from other federal agencies

and/or federally-sponsored educational benefits programs. (Used for reporting on the Student

Financial Aid component)

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.

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 grants Local monies awarded to the institution under local government student aid programs .

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

(expenses -- FASB and

GASB aligned form

reporters)

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. FASB institutions do not use this function. Instead these expenses are

charged to or allocated to other functions.

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 & 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.

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)

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.

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.
2012-13 Survey Materials > F.A.Q. date: 12/4/2012

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 received funds from the American Recovery and Reinvestment Act (ARRA). Where should they be reported?

4) We haven’t been audited yet and won’t have an audited financial statement until May. Do I still have to fill this out?

5) What period should the finance survey cover?

7) How do I know what reporting standards are used to prepare the financial statements?

8) What happens if I respond incorrectly to the reporting standards screening question?

9) What is the difference between “business-type” activities and “governmental” activities?

10) What is combined ("parent/child") reporting and how does it work?

11) Can a system office report combined data?

12) When does a system office need to report data?

13) 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?

14) My institution does not award degrees. Do we still need to complete the Finance component?

15) 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?

16) 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) I see the term CV on several lines of the finance survey. What is this referring to?

3) What are operating versus nonoperating revenues?

4) We reported federal appropriations in operating revenues rather than non-operating revenues in our financial statements. How

should I report them on IPEDS?

5) What are some examples of independent operations?

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) What are discounts and allowances (Part E)? (We don’t discount our tuition.)

8) We do not capitalize our library. Do I report it on Part A page 2?

9) Why does operation and maintenance of plant appear as both a row and column in Part C (expenses and other deductions)?

10) 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?

11) If my institution is a GASB-reporter, where should my institution report the gain or loss on the sale of a plant asset?

12) Where did component units go?

Private Not-for-Profit and Public Institutions Using FASB

1) My institution is primarily a hospital with a small instruction program. How should I report the hospital part of my institution?

2) What are some examples of independent operations?

3) What value do I use to report plant, property, and equipment on the second page of Part A?

4) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?

5) I see the term CV on several lines of the finance survey. What is this referring to?

6) What is the difference between funded and unfunded institutional grants as reported on the Student Grants part of the survey?

7) What are allowances in Part C (Scholarships and Fellowships)?

8) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?

Private for-profit institutions

1) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?

2) I see the term CV on several lines of the finance survey. What is this referring to?

3) What are allowances in Part C (Student Grants)?

4) 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?

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 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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4) 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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5) 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, 2012. 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, 2012. If your institution’s fiscal year ends on December 31, your financial

statements for the year ending December 31, 2011 would be used.

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7) 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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8) 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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9) 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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10) 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_03072007_2.asp for more information on parent/child

relationships.

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11) 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_03072007_2.asp. If a system will be reporting this

way, they must contact the Help Desk before reporting combined data.

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12) 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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13) 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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14) 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. A more detailed description can be found at

http://nces.ed.gov/ipeds/submit_data/changes0910.asp

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15) 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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16) 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 winter 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) 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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3) 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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4) 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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5) 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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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. Nonoperating expenses, such as

interest on debt, should be reported on Part C.

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7) 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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8) 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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9) 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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10) 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/Business_and_Policy_Areas/Accounting/Advisory_Reports/Advisory_Report_2010-

1_Public_Institution_Methodologies_for_Allocation_Depreciation_Operation_and_Maintenance_of_Plant_and_

Interest_Expense-x11205-ml.html. to assist public institutions to develop 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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11) 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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12) Where did component units go?

Separate reporting was eliminated when institutions moved to the new aligned reporting that was

mandatory starting in 2010-11.

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Private Not-for-Profit and Public Institutions Using FASB

1) 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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2) 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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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) 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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5) 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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6) What is the difference between funded and unfunded institutional grants as reported on the Student Grants 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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7) 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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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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Private for-profit institutions

1) 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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2) 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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3) What are allowances in Part C (Student Grants)?

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) 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 functional categories listed for expenses are recommended by the National Association of College and

University Business Officers (NACUBO). You should do your best to determine which of these functional

categories are most fitting for your institutions. If you need further assistance classifying your expenses,

please call the Help Desk.

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2012-13 Survey Materials > Narrative Edits date: 12/4/2012

Finance for non-degree granting private, not-for-profit institutions and public institutions

using FASB Reporting Standards

Edit specifications for the 2012-13 IPEDS Web-Based Data Collection

Finance Component

Applicable to Public and Private not-for-profit FASB-reporting institutions

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

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 GASB-reporting institutions.

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, 2012.

• 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, 2012.

• 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.)

• Applicable to degree-granting institutions

Does your institution or any of its foundations or other affiliated organizations own endowment assets? Choose

Yes or No.

◦ If Yes is selected, an additional screen will be provided to report these assets in Part H.

• Applicable to degree-granting institutions

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 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 2010 or 2011.
• The Year entered for the Ending date of the fiscal year should be either 2011 or 2012.

• The fiscal year Beginning date cannot be earlier than September 2010.

• The fiscal year Ending date cannot be later than October 2012.

• 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 children

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.

• The amount reported for Total assets cannot be equal to the corresponding Prior year amount.

• A value must be entered for Total liabilities (line 03).

• The amount reported for Total liabilities cannot be equal to 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 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 is expected to be less than or equal to the value reported for

Total assets (line 02).

• The calculated amount of 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 Permanently restricted net assets (line 05a) is expected to be less than the calculated

value of Total restricted net assets (line 05).

• The value reported for Temporarily restricted net assets (line 05b) cannot be negative.

• A valu must be entered for Total net assets (line 06).

• The calculated amount of Total net assets is expected to be greater than 0.

• If the Prior year amount of Total net assets is greater than 0, then the current year value is expected to be

within a 50% range of that amount.

• The calculated amount of Total net assets 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 value reported for Total Plant, Property, and Equipment(line 17) is expected to be greater than 0.
• The Property, Plant, and Equipment, net of accumulated depreciation value (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

Applicable to institutions that are NOT children or partial parents

On this screen, you must report details about your institution’s changes in net assets for the most recent 12-month fiscal year.

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:

• 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 or equal to 0, then the

current year value is expected to be within a 50% range of that amount.

• A value must be entered for Total expenses (line 02).

• The value reported for Total expenses must be greater than 0.

• The amount reported for Total expenses cannot be equal to the corresponding Prior year amount.

• If the Prior year amount of Total expenses is greater than or equal to 0, then the current year value is

expected to be within a 50% range of 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 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.

• The calculated amount of Adjustments to beginning of year net assets (line 06) is expected to be between -

10 million and 10 million.

• 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.

Applicable to institutions that are partial parents

On this screen, you must report details about changes in net assets for your institution and all of its children for the most

recent 12-month fiscal year.

Enter the Current year amount for each of the following:

• Total revenues and investment return (line 01)

• Total expenses (line 02)

• Changes 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. The value for Net assets, end of year (from Part A) is displayed for your reference.

The system will perform the following edits on the data entered:

• The value reported for Total revenues and investment return (line 01) on this screen must be greater than

the Total Amount reported for Total revenues and investment return in Part D of this survey.

• The value reported for Total expenses (line 02) on this screen must be greater than the Total amount reported

for Total expenses in Part E of this survey.

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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 12-

month 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:

• The value reported for Pell grants (line 01) is expected to be greater than 0.

• If the Prior year amount of Pell grants is greater than 0, then the current year value is expected to be within a

50% range of that amount.

• A value must be entered for Institutional grants, funded (line 05).

• The calculated amount of Total scholarships and fellowships (line 07) is expected to be greater than 0.
• The amount reported for Total scholarships and fellowships cannot be equal to the corresponding Prior year

amount.

• If the Prior year amount of Total scholarships and fellowships is greater than 0, then the current year value

is expected to be within a 50% range of that amount.

• If the calculated amount of Total scholarships and fellowships (line 07) is greater than 0, then Allowances

(scholarships) applied to tuition and fees (line 08) is expected to be greater than 0.

• The value reported for Allowances (scholarships) applied to tuition and fees must be less than or equal to

the calculated amount of Total scholarships and fellowships (line 07).

• The calculated amount of 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).

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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 degree-granting 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:

• 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)

• 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 by the system.

Upon saving the screen, the system will use the above values to calculate a Total Amount for all other sources 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), along with

the corresponding values for Undergraduates and Graduates. These values are 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.

• If the Prior Year Total Amount of Tuition and fees is greater than 0, then the current year value is expected

to be within a 50% range of that amount.

• For Federal grants and contracts (line 05), a value must be entered for each restriction type.

• If 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 on this screen is expected to be greater than or equal to that amount.

• The Total Amount calculated for Private gifts, grants and contracts (line 08) cannot be negative.

• For Private gifts (line 08a), a value must be entered for each restriction type.

• The Total Amount calculated for Private gifts cannot be negative.

• For Private grants and contracts (line 08b), a value must be entered for each restriction type.

• The Total Amount calculated for Private grants and contracts cannot be negative.

• The Total Amount calculated for Investment Return (line 10) cannot 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, and the Prior Year Total Amount of Total revenues and

investment return is greater than or equal to 0, then the current year value is expected to be within a 50%

range of that amount.

• If the Total Amount of Total revenues and investment return (line 16) is greater than 100 million, then the

Total Amount calculated for Sales and services of educational activities (line 11) is expected to be greater

than 0.

• The Total Amount calculated for Hospital Revenue (line 13) is expected to be less than 75% of the Total

Amount of 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 is expected to be less than 75% of the Total Amount of Total

revenues and investment return (line 16).
• The Total Amount of 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 value reported under Permanently restricted revenue for Net assets released from restriction (line 17)

must be equal to 0.

• If the 12-month student FTE from E12 (line 19) amount displayed is greater than 0, then the Total Amount of

Total revenues and investment return (line 16) is expected to be between -100,000 and 500,000.

Applicable to 2-year degree-granting 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:

• 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 by the system.

Upon saving the screen, the system will use the above values to calculate a Total Amount for all other sources 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). These

values are 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.

• If the Prior Year Total Amount of Tuition and fees is greater than 0, then the current year value is expected

to be within a 50% range of that amount.

• For Federal grants and contracts (line 05), a value must be entered for each restriction type.

• If 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 on this screen is expected to be greater than or equal to that amount.

• The Total Amount calculated for Private gifts, grants and contracts (line 08) cannot be negative.

• For Private gifts (line 08a), a value must be entered for each restriction type.

• The Total Amount calculated for Private gifts cannot be negative.

• For Private grants and contracts (line 08b), a value must be entered for each restriction type.

• The Total Amount calculated for Private grants and contracts cannot be negative.

• The Total Amount calculated for Investment Return (line 10) cannot 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, and the Prior Year Total Amount of Total revenues and

investment return is greater than or equal to 0, then the current year value is expected to be within a 50%

range of that amount.

• 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 75% of the Total

Amount of Total revenues and investment return (line 16).

• The Total Amount reported for Total revenues and investment return must be equal to the sum of the values

reported on this line for each restriction type.

• The value reported under Permanently restricted revenue for Net assets released from restriction (line 17)

must be equal to 0.

• If your institution is not an administrative office and the 12-month student FTE from E12 (line 19) amount

displayed is greater than 0, then the Total Amount of Total revenues and investment return (line 16) is

expected to be less than 60,000.

Applicable to non-degree-granting 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:

• 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 all other sources 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). These

values are 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.

• If the Prior Year Total Amount of Tuition and fees is greater than 0, then the current year value is expected

to be within a 50% range of that amount.

• For Federal grants and contracts (line 05), a value must be entered for each restriction type.

• If 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 on this screen is expected to be greater than or equal to that amount.

• The Total Amount calculated for Private gifts, grants and contracts (line 08) cannot be negative.

• For Private gifts (line 08a), a value must be entered for each restriction type.

• The Total Amount calculated for Private gifts cannot be negative.

• For Private grants and contracts (line 08b), a value must be entered for each restriction type.

• The Total Amount calculated for Private grants and contracts cannot be negative.

• The Total Amount calculated for Investment Return (line 10) cannot be negative.

• The Total Amount reported for Total revenues and investment return (line 16) must be greater than 0.

• If the Prior Year Total Amount of Total revenues and investment return is greater than or equal to 0, then

the current year value is expected to be within a 50% range of that amount.

• 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 75% of the Total

Amount of Total revenues and investment return (line 16).

• The Total Amount reported for Total revenues and investment return must be equal to the sum of the values

reported on this line for each restriction type.

• The value reported under Permanently restricted revenue for Net assets released from restriction (line 17)

must be equal to 0.

• If your institution is a 4-year institution and the 12-month student FTE from E12 (line 19) amount displayed is

greater than 0, then the Total Amount of Total revenues and investment return (line 16) is expected to be

between -100,000 and 500,000.

• If your institution is a less-than-4-year institution and the 12-month student FTE from E12 (line 19) amount

displayed is greater than 0, then the Total Amount of Total revenues and investment return (line 16) is

expected to be less than 60,000.

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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 degree-granting institutions

For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,

Depreciation, and Interest), enter the amount of 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)

• Hospital services (line 09)

• Independent operations (line 10)

• Operation and maintenance of plant (line 11)

• Total expenses (line 13)

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 by the system.

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). These

values are 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:

• For all applicable functional categories, the values reported for each expense type must be less than or equal to

the Total amount (column 1) reported for that category.

• For lines 01 through 10, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1; with the exception of lines 02 and 03)

◦ Salaries and wages (column 2)

◦ Benefits (column 3)

◦ Operation and maintenance of plant (column 4)

◦ Depreciation (column 5)

◦ Interest (column 6)

• For the All other (column 7) expense type, the reported value cannot be negative for any functional category.

• A Total amount must be entered for Instruction (line 01).

• The Total amount reported for Instruction is expected to be greater than 0.

• If the PY Total Amount displayed for Instruction is greater than 0, then the current year Total amount is

expected to be within a 50% range of that value.

• A value must be entered for the amount of Salaries and wages (column 2) allocated to Instruction.

• The amount of Salaries and wages allocated to Instruction is expected to 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 in this column for

Instruction (line 01) must be within a range of -10% to -70% of the absolute value of that amount.

• If the amount of Depreciation (column 5) reported in the Total expenses category (line 13) is greater than 1

million, then the amount of Depreciation allocated to Instruction (line 01) must be within a range of 10% to

70% of that value.

• If the amount of Interest (column 6) reported in the Total expenses category is greater than 1 million, then the

amount of Interest allocated to Instruction (line 01) must be within a range of 10% to 70% of that value.

• For lines 04 through 06, the following expense types are not expected to be blank:

◦ Total amount

◦ Salaries and wages

• The Total amount reported for Student services (line 05) is expected to be greater than 0.

• The Total amount reported for Institutional support (line 06) is expected to be greater than 0.

• If the value reported for Sales and services of auxiliary enterprises in Part D of this survey is equal to 0,

then the Total amount 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 must be less than or equal to the difference between

Total scholarships and fellowships and Allowances (scholarships) applied to tuition and fees

and auxiliary enterprises reported in Part C of this survey.

• If the value reported for Hospital revenue in Part D of this survey is equal to 0, then the Total amount

reported for Hospital services (line 09) on this screen is also expected to be equal to 0.

• If the value reported for Independent operations revenue in Part D of this survey is equal to 0, then the

Total amount reported for Independent operations (line 10) on this screen is also expected to be equal to 0.

• If the Total Plant, Property, and Equipment value calculated on the Statement of Financial Position, Page

2 screen in Part A of this survey is greater than 10 million, then the amount reported on this screen 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 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 in this column for the Operation and maintenance of plant category (line

11) must be less than or equal to 0.

• For lines 12 and 13, the reported value cannot be negative for any expense type.

• The calculated Total amount of Other expenses (line 12) is expected to be no more than 75% of the Total

amount of Total expenses (line 13).

• If the amount of Depreciation (column 5) reported for Total expenses (line 13) is greater than 1 million, then

the calculated amount of Depreciation in the Other expenses category (line 12) must be less than 50% of that

value.

• If the amount of Interest (column 6) reported for Total expenses is greater than 1 million, then the calculated

amount of Interest in the Other expenses category must be less than 50% of that value.

• For Total expenses (line 13), a value must be entered for each expense type.

• For Total expenses, the value reported for each expense type is expected to be within a 50% range of the

corresponding Prior year total expenses amount.

• If your institution is a partial child or partial parent, then the Total amount reported for Total expenses must

be greater than 0.

• If your institution is a partial child or partial parent, then the Total amount reported for Total expenses cannot

be equal to the corresponding Prior year amount.

• If your institution is a partial child or partial parent, and the Total amount reported for Total expenses 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 Plant, Property, and Equipment value calculated on the Statement of Financial Position, Page

2 screen in Part A of this survey is greater than 10 million, then the amount reported on this screen for

Depreciation (column 5) in the Total expenses category (line 13) must be greater than 0.

• If the value reported for Debt related to Property, Plant, and Equipment on the Statement of Financial

Position, Page 1 screen in Part A of this survey is greater than 10 million, then the amount reported on this

screen for Interest (column 6) in the Total expenses category (line 13) must be greater than 0.

• If the 12-month Student FTE from E12 is greater than 0, then the Total amount of Total expenses minus

the Total amount reported for Hospital services (line 09) is expected to be within a range of 6,000 to 500,000

times the value of the 12-month Student FTE from E12.

Applicable to 2-year degree-granting institutions

For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,

Depreciation, and Interest), enter the amount of 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)

• Total expenses (line 13)

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 by the system.

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). These

values are 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:

• For all applicable functional categories, the values reported for each expense type must be less than or equal to

the Total amount (column 1) reported for that category.

• For lines 01 through 08, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1; with the exception of lines 02 and 03)

◦ Salaries and wages (column 2)

◦ Benefits (column 3)

◦ Operation and maintenance of plant (column 4)

◦ Depreciation (column 5)

◦ Interest (column 6)

• For the All other (column 7) expense type, the reported value cannot be negative for any functional category.

• A Total amount must be entered for Instruction (line 01).

• The Total amount reported for Instruction is expected to be greater than 0.

• If the PY Total Amount displayed for Instruction is greater than 0, then the current year Total amount is

expected to be within a 50% range of that value.

• A value must be entered for the amount of Salaries and wages (column 2) allocated to Instruction.

• The amount of Salaries and wages allocated to Instruction is expected to 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 in this column for

Instruction (line 01) must be within a range of -10% to -70% of the absolute value of that amount.

• If the amount of Depreciation (column 5) reported in the Total expenses category (line 13) is greater than 1

million, then the amount of Depreciation allocated to Instruction (line 01) must be within a range of 10% to

70% of that value.

• If the amount of Interest (column 6) reported in the Total expenses category is greater than 1 million, then the

amount of Interest allocated to Instruction (line 01) must be within a range of 10% to 70% of that value.

• For lines 04 through 06, the following expense types are not expected to be blank:

◦ Total amount

◦ Salaries and wages

• The Total amount reported for Student services (line 05) is expected to be greater than 0.

• The Total amount reported for Institutional support (line 06) is expected to be greater than 0.

• If the value reported for Sales and services of auxiliary enterprises in Part D of this survey is equal to 0,

then the Total amount 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 must be less than or equal to the difference between

Total scholarships and fellowships and Allowances (scholarships) applied to tuition and fees reported in

Part C of this survey.

• If the Total Plant, Property, and Equipment value calculated on the Statement of Financial Position, Page

2 screen in Part A of this survey is greater than 10 million, then the amount reported on this screen 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 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 in this column for the Operation and maintenance of plant category (line

11) must be less than or equal to 0.

• For lines 12 and 13, the reported value cannot be negative for any expense type.

• The calculated Total amount of Other expenses (line 12) is expected to be no more than 75% of the Total

amount of Total expenses (line 13).

• If the amount of Depreciation (column 5) reported for Total expenses (line 13) is greater than 1 million, then

the calculated amount of Depreciation in the Other expenses category (line 12) must be less than 50% of that

value.

• If the amount of Interest (column 6) reported for Total expenses is greater than 1 million, then the calculated

amount of Interest in the Other expenses category must be less than 50% of that value.

• For Total expenses (line 13), a value must be entered for each expense type.

• For Total expenses, the value reported for each expense type is expected to be within a 50% range of the

corresponding Prior year total expenses amount.

• If your institution is a partial child or partial parent, then the Total amount reported for Total expenses must

be greater than 0.

• If your institution is a partial child or partial parent, then the Total amount reported for Total expenses cannot

be equal to the corresponding Prior year amount.

• If your institution is a partial child or partial parent, and the Total amount reported for Total expenses 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 Plant, Property, and Equipment value calculated on the Statement of Financial Position, Page

2 screen in Part A of this survey is greater than 10 million, then the amount reported on this screen for

Depreciation (column 5) in the Total expenses category (line 13) must be greater than 0.

• If the value reported for Debt related to Property, Plant, and Equipment on the Statement of Financial

Position, Page 1 screen in Part A of this survey is greater than 10 million, then the amount reported on this

screen for Interest (column 6) in the Total expenses category (line 13) must be greater than 0.

• If the 12-month Student FTE from E12 is greater than 0, then the Total amount of Total expenses is

expected to be within a range of 6,000 to 45,000 times the value of the 12-month Student FTE from E12.

Applicable to all administrative offices

For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,

Depreciation, and Interest), enter the amount of 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)

• Total expenses (line 13)

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 by the system.

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). These

values are 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:

• For all applicable functional categories, the values reported for each expense type must be less than or equal to

the Total amount (column 1) reported for that category.

• For lines 01 through 08, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1; with the exception of lines 02 and 03)

◦ Salaries and wages (column 2)

◦ Benefits (column 3)

◦ Operation and maintenance of plant (column 4)

◦ Depreciation (column 5)

◦ Interest (column 6)

• For the All other (column 7) expense type, the reported value cannot be negative for any functional category.

• If the PY Total Amount displayed for Instruction is greater than 0, then the current year Total amount is

expected to be within a 50% range of that value.

• If the Total Amount of revenues calculated for Tuition and fees in Part D of this survey is equal to 0, then the

amounts reported here for Instruction (line 01) are expected to be 0 or blank for all expense types.

• For lines 04 through 06, the following expense types are not expected to be blank:

◦ Total amount

◦ Salaries and wages

• The Total amount reported for Student services (line 05) is expected to be greater than 0.
• The Total amount reported for Institutional support (line 06) is expected to be greater than 0.

• If the value reported for Sales and services of auxiliary enterprises in Part D of this survey is equal to 0,

then the Total amount reported for Auxiliary enterprises (line 07) on this screen is also expected to be equal

to 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 in this column for the Operation and maintenance of plant category (line

11) must be less than or equal to 0.

• For lines 12 and 13, the reported value cannot be negative for any expense type.

• The calculated Total amount of Other expenses (line 12) is expected to be no more than 75% of the Total

amount of Total expenses (line 13).

• For Total expenses (line 13), a value must be entered for each expense type.

• For Total expenses, the value reported for each expense type is expected to be within a 50% range of the

corresponding Prior year total expenses amount.

• If your institution is a partial child or partial parent, then the Total amount reported for Total expenses must

be greater than 0.

• If your institution is a partial child or partial parent, then the Total amount reported for Total expenses cannot

be equal to the corresponding Prior year amount.

• If your institution is a 4-year institution, and the 12-month Student FTE from E12 is greater than 0, then the

Total amount of Total expenses is expected to be within a range of 6,000 to 500,000 times the value of the 12

-month Student FTE from E12.

• If your institution is a less-than-4-year institution, and the 12-month Student FTE from E12 is greater than 0,

then theTotal amount of Total expenses is expected to be within a range of 6,000 to 45,000 times the value of

the 12-month Student FTE from E12.

Applicable to non-degree-granting institutions

For each applicable expense type (Total amount, Salaries and wages, Benefits, Operation and maintenance of plant,

Depreciation, and Interest), enter the amount of 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)

• Total expenses (line 13)

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). These

values are 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:

• For all applicable functional categories, the values reported for each expense type must be less than or equal to

the Total amount (column 1) reported for that category.

• For lines 01 through 08, the values reported for the following expense types cannot be negative:

◦ Total amount (column 1; with the exception of lines 02 and 03)

◦ Salaries and wages (column 2)

◦ Benefits (column 3)

◦ Operation and maintenance of plant (column 4)

◦ Depreciation (column 5)

◦ Interest (column 6)

• For the All other (column 7) expense type, the reported value cannot be negative for any functional category.

• A Total amount must be entered for Instruction (line 01).

• The Total amount reported for Instruction is expected to be greater than 0.

• If the PY Total Amount displayed for Instruction is greater than 0, then the current year Total amount is

expected to be within a 50% range of that value.

• A value must be entered for the amount of Salaries and wages (column 2) allocated to Instruction.

• The amount of Salaries and wages allocated to Instruction is expected to 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 in this column for

Instruction (line 01) must be within a range of -10% to -70% of the absolute value of that amount.

• If the amount of Depreciation reported in the Total expenses category (line 13) is greater than 1 million, then

the amount of Depreciation allocated to Instruction (line 01) must be within a range of 10% to 70% of that

value.

• If the amount of Interest reported in the Total expenses category is greater than 1 million, then the amount of

Interest allocated to Instruction (line 01) must be within a range of 10% to 70% of that value.

• For lines 04 through 06, a value is expected to be entered for the following expense types:
◦ Total amount

◦ Salaries and wages

• The Total amount reported for Student services (line 05) is expected to be greater than 0.

• The Total amount reported for Institutional support (line 06) is expected to be greater than 0.

• The Total amount reported for Net grant aid to students must be less than or equal to the difference between

Total scholarships and fellowships and Allowances (scholarships) applied to tuition and fees reported in

Part C of this survey.

• If the Total Plant, Property, and Equipment value calculated on the Statement of Financial Position, Page

2 screen in Part A of this survey is greater than 10 million, then the amount reported on this screen 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 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 in this column for the Operation and maintenance of plant category (line

11) must be less than or equal to 0.

• For lines 12 and 13, the reported value cannot be negative for any expense type.

• The calculated Total amount of Other expenses (line 12) is expected to be no more than 75% of the Total

amount of Total expenses (line 13).

• If the amount of Depreciation (column 5) reported for Total expenses (line 13) is greater than 1 million, then

the calculated amount of Depreciation in the Other expenses category (line 12) must be less than 50% of that

value.

• If the amount of Interest (column 6) reported for Total expenses is greater than 1 million, then the calculated

amount of Interest in the Other expenses category must be less than 50% of that value.

• For Total expenses (line 13), a value must be entered for each expense type.

• The Total amount reported for Total expenses must be greater than 0.

• The Total amount reported for Total expenses cannot be equal to the corresponding Prior year amount.

• For Total expenses, the value entered for each expense type is expected to be within a 50% range of the

corresponding Prior year total expenses amount.

• If the Total amount reported for Total expenses 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 Plant, Property, and Equipment value calculated on the Statement of Financial Position, Page

2 screen in Part A of this survey is greater than 10 million, then the amount reported on this screen for

Depreciation (column 5) in the Total expenses category (line 13) must be greater than 0.

• If the value reported for Debt related to Property, Plant, and Equipment on the Statement of Financial

Position, Page 1 screen in Part A of this survey is greater than 10 million, then the amount reported on this

screen for Interest (column 6) in the Total expenses category (line 13) must be greater than 0.

• If your institution is a 4-year institution, and the 12-month Student FTE from E12 is greater than 0, then

theTotal amount of Total expenses minus the Total amount reported for Hospital services (line 09) is

expected to be within a range of 6,000 to 500,000 times the value of the 12-month Student FTE from E12.

• If your institution is a less-than-4-year institution, and the 12-month Student FTE from E12 is greater than 0,

then the Total amount of Total expenses is expected to be within a range of 6,000 to 45,000 times the value of

the 12-month Student FTE from E12.

Top

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.

Top
2012-13 Survey Materials > Form date: 12/4/2012

Finance for non-degree granting private, for-profit institutions

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, 2012.)

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 Qualified (Explain in box

below)

Don't know (Explain in box

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?

 Pass through

(agency)

Federal grant revenue Does not award Pell grants 

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 2012

DO NOT REPORT FEDERAL DIRECT STUDENT LOANS (FDSL) ANYWHERE IN THIS SECTION

Line No. Student Grants Current year amount Prior year amount

01 Pell grants (federal) 

02 Other federal grants (Do NOT include FDSL amounts) 

03 State and local grants (government) 

04 Institutional grants 

05 Total student grants

CV=[C01+...+C04]

 

06 Allowances applied to tuition and fees 

07 Allowances 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 2012

Line No.

Source of Funds

Current year amount Prior year amount

01 Tuition and fees (net of amount reported in Part C, line 06) 

Government Appropriations, Grants and Contracts

02 Federal appropriations, grants and contracts (Do NOT include

FDSL amounts)

 

03 State and local government appropriations, grants and contracts 

Private Grants and Contracts

04 Private grants and contracts 

Other Revenue

05 Investment income and investment gains (losses) included in net

income

 

06 Sales and services of educational activities 

08 Other revenue

CV=[D09-(D01+...+D06)]

 

09 Total revenues and investment return 

10 12-month Student FTE from E12 

11 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 2012

Report Total Operating AND Non-Operating Expenses in this section

Line No.

Expenses by Functional Category Amounts

Prior Year Amounts

01 Instruction 

02 Research and Public service 

03 Academic support, Student services and Institutional support 

05 Net grant aid to students (net of allowances for tuition & fees and auxiliary

enterprises)

 

06 All other expenses

CV=[E07-(E01+...+E05)]

 

07 Total expenses 

08 12-month Student FTE from E12 

09 Total expenses per student FTE

CV=[E07/E08]

 

Provide an explanation below if values cannot be reported separately.
Prepared by 

This survey component was prepared by:

 

Keyholder

 

SFA Contact

 

HR Contact

 

Finance Contact

 

Other

Name:

Email:

How long did it take to prepare this survey component? hours minutes

The name of the preparer is being collected so that we can follow up with the appropriate person in the event that there

are questions concerning the data. The Keyholder will be copied on all email correspondence to other preparers.

The time it took to prepare this component is being collected so that we can continue to improve our estimate of the

reporting burden associated with IPEDS. Please include in your estimate the time it took for you to review instructions,

query and search data sources, complete and review the component, and submit the data through the Data Collection

System.

Thank you for your assistance.
2012-13 Survey Materials > Instructions date: 12/4/2012

FASB-Reporting Institutions, For-Profit, non degree

Purpose of component

Changes in Reporting

General Information and Instructions

Coverage

Where to Get Help

Where data appears

Detailed Instructions Header

Screening questions

Part C Student Grants

Part D Revenues and Investment Return

Part E Expenses by Function

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

Changes in Reporting

There are no reporting changes for the 2012-13 finance data collection for for-profit institutions.

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, 2012. For institutions with fiscal years ending on

December 31, this would be the calendar year 2011.

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 Universities' Business

Officers (NACUBO). To provide additional help, accounting terms are underlined and colored blue.

These terms are linked to definitions found in the on-line 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.
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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.

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.

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 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.

Where to Get Help

IPEDS Data Collection Help Desk

Phone: 1-877-225-2568

Email: ipedshelp@rti.org

AIR Website

You can also consult the AIR website that contains several tutorials on IPEDS data collection, a self-paced

overview of IPEDS tools and other valuable resources.

IPEDS Resources Page

In addition, the IPEDS Resources Page contains frequently asked questions, a link to the glossary, data tip

sheets, an archive of survey instruments, information on the new race/ethnicity categories and other relevant

information.

Where to Get Additional Get 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 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

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

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 and Audit

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.

OR

• 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.

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.

Part C - Student Grants

This part is intended to report details about student grants.

For each source on lines 01–04, enter the amount of resources received that are used for student

financial aid purposes. Student grants include: grants-in-aid, trainee stipends, tuition and fee waivers,

and prizes to undergraduate students. Student grants do not include amounts provided to students as

payments for 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 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." 

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 Supplemental Education Opportunity Grants (SEOG), DHHS training

grants (aid portion only), DOD grants, Department of Veterans Affairs grants, and the federal portion of

State Student Incentive Grants (SSIG). Report institutional matching funds separately under

institutional grants. Do not include Federal Work Study amounts.

03 – State and local grants (government) – Enter the amount awarded to the institution under

state and local student aid programs, including the state portion of State Student Incentive Grants

(SSIG). 

04 – Institutional grants – Enter the amount awarded to students from institutional resources. 

05 – Total student grants – 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 provider is advised to

check the other amounts provided on this screen for data entry errors. 

06 – Allowances 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 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)

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 charges and credits. Internal charges and credits

include charges between a parent and a 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

02 – Federal appropriations, grants and contracts – Enter all amounts received from the

Federal Government including a direct appropriation of Congress, and any grants or contracts.

Federal appropriations received through state channels should be included on line 02. Include 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. 

03 – State and local government appropriations, grants and contracts – Enter all amounts

received from a state or local government through a direct appropriation of its legislative body,

and any grants or contracts. An example of a state or local appropriation that should be entered on

line 03 is an annual state or local appropriation for operating expenses of the institution. 

Include all revenues from state and local government agencies that are for specific undertakings

such as research projects, training projects, and similar activities, including contributions from

state and local agencies. If state and local grants for student aid are treated as agency

transactions in your GPFS, they are excluded from this amount. If state and 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.

Private Grants and Contracts

04 – Private 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 not be reported. 

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 + ... + D06)

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, 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 - Enter all revenues that agree with the revenues

recognized in the institution's 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.

Part E – Expenses by Function

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. 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 at:

http://www.nacubo.org/Business_and_Policy_Areas/Accounting/Advisory_Reports/Advisory_Report

_2010-

1_Public_Institution_Methodologies_for_Allocation_Depreciation_Operation_and_Maintenance_of_P

lant_and_Interest_Expense-x11205-ml.html.

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. Operation and

maintenance of plant, depreciation, and interest expenses are to be distributed among the other

functional expense categories. 

 

Refer to these specific instructions for more information about reporting expenses. 

Expenses by Function

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 03. 

02 – Research and Public Service – Enter the sum of expenses for research and public service.

Each term is described below. 

Research – Includes all 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). 

Public service – Includes all 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. 
03 – Academic support, Student services and Institutional support – Enter the sum of

expenses for academic support, student services, and institutional support.

Each term is described below. 

Academic support – Includes 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. 

Student services – 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 are career guidance, counseling, financial aid administration, student records,

athletics, and student health services, except when operated as a self-supporting auxiliary

enterprise. 

Institutional support – Includes all 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. 

05 – Net grant aid to students (net of tuition and fee allowances and agency

transactions) – Enter on this line ONLY student aid recognized as expenses in your GPFS.

Whereas in the past, most student awards were recorded as expenses under this classification,

most student awards will now be 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 and should not be treated as an expense. 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. Student aid 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. Student

aid 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. 

According to NACUBO Advisory Report 97-1 (January 17, 1997), grant aid to students 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. 

06 – All other expenses – This calculated value is generated using this formula:

E06 = E07 – (E01 + ... + E05)

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 - Enter all expenses that agree with the expenses recognized in the institution's GPFS.

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.
Glossary date: 12/4/2012

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.

Federal grants

(grants/educational

assistance funds)

Grants provided by federal agencies such as the U.S. Department of Education, including Title IV Pell

Grants and Supplemental Educational Opportunity Grants (SEOG). Also includes need-based and

merit-based educational assistance funds and training vouchers provided from other federal agencies

and/or federally-sponsored educational benefits programs. (Used for reporting on the Student

Financial Aid component)

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.

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.

In-district student A student who is a legal resident of the locality in which he/she attends school and thus is entitled to

reduced tuition charges if offered by the institution.

In-state student A student who is a legal resident of the state in which he/she attends school.

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.

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 privatelysponsored loans. Does not include PLUS and other loans made directly to parents.

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.

Off-campus (not with

family)

A living arrangement in which a student does not live with the student’s parents or legal guardians in

any housing facility that is not owned or controlled by the educational institution.

Off-campus (with family) A living arrangement in which a student lives with the student's parents or legal guardians in any

housing facility that is not owned or controlled by the educational institution.

On-campus housing Any residence hall or housing facility owned or controlled by an institution within the same

reasonably contiguous geographic area and used by the institution in direct support of or in a manner

related to, the institution's educational purposes.

Other federal grants Federal monies awarded to the institution under federal government student aid programs, such as

Supplemental Educational Opportunity Grants (SEOG), DHHS training grants (aid portion only), State

Student Incentive Grants (SSIG), 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 & 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 & 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.

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 & maintenance of plant, interest, and depreciation.

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.

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 and local grants Grant monies provided by the state such as Leveraging Educational Assistance Partnerships (LEAP)

(formerly SSIG's); merit scholarships provided by the state; and tuition and fee waivers for which the

institution was reimbursed by a state agency. Local government grants include scholarships or giftaid awarded directly to the student. (Used for reporting Finance data for private for-profit institutions

)

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.

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.
2012-13 Survey Materials > F.A.Q. date: 12/4/2012

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 received funds from the American Recovery and Reinvestment Act (ARRA). Where should they be reported?

4) We haven’t been audited yet and won’t have an audited financial statement until May. Do I still have to fill this out?

5) What period should the finance survey cover?

7) How do I know what reporting standards are used to prepare the financial statements?

8) What happens if I respond incorrectly to the reporting standards screening question?

9) What is the difference between “business-type” activities and “governmental” activities?

10) What is combined ("parent/child") reporting and how does it work?

11) Can a system office report combined data?

12) When does a system office need to report data?

13) 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?

14) My institution does not award degrees. Do we still need to complete the Finance component?

15) 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?

16) 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) I see the term CV on several lines of the finance survey. What is this referring to?

3) What are operating versus nonoperating revenues?

4) We reported federal appropriations in operating revenues rather than non-operating revenues in our financial statements. How

should I report them on IPEDS?

5) What are some examples of independent operations?

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) What are discounts and allowances (Part E)? (We don’t discount our tuition.)

8) We do not capitalize our library. Do I report it on Part A page 2?

9) Why does operation and maintenance of plant appear as both a row and column in Part C (expenses and other deductions)?

10) 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?

11) If my institution is a GASB-reporter, where should my institution report the gain or loss on the sale of a plant asset?

12) Where did component units go?

Private Not-for-Profit and Public Institutions Using FASB

1) My institution is primarily a hospital with a small instruction program. How should I report the hospital part of my institution?

2) What are some examples of independent operations?

3) What value do I use to report plant, property, and equipment on the second page of Part A?

4) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?

5) I see the term CV on several lines of the finance survey. What is this referring to?

6) What is the difference between funded and unfunded institutional grants as reported on the Student Grants part of the survey?

7) What are allowances in Part C (Scholarships and Fellowships)?

8) Why does operation and maintenance of plant appear as both a row and column in Part E (expenses)?

Private for-profit institutions

1) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?

2) I see the term CV on several lines of the finance survey. What is this referring to?

3) What are allowances in Part C (Student Grants)?

4) 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?

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 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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4) 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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5) 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, 2012. 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, 2012. If your institution’s fiscal year ends on December 31, your financial

statements for the year ending December 31, 2011 would be used.

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7) 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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8) 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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9) 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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10) 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_03072007_2.asp for more information on parent/child

relationships.

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11) 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_03072007_2.asp. If a system will be reporting this

way, they must contact the Help Desk before reporting combined data.

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12) 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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13) 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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14) 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. A more detailed description can be found at

http://nces.ed.gov/ipeds/submit_data/changes0910.asp

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15) 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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16) 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 winter 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) 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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3) 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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4) 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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5) 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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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. Nonoperating expenses, such as

interest on debt, should be reported on Part C.

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7) 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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8) 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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9) 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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10) 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/Business_and_Policy_Areas/Accounting/Advisory_Reports/Advisory_Report_2010-

1_Public_Institution_Methodologies_for_Allocation_Depreciation_Operation_and_Maintenance_of_Plant_and_

Interest_Expense-x11205-ml.html. to assist public institutions to develop 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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11) 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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12) Where did component units go?

Separate reporting was eliminated when institutions moved to the new aligned reporting that was

mandatory starting in 2010-11.

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Private Not-for-Profit and Public Institutions Using FASB

1) 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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2) 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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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) 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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5) 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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6) What is the difference between funded and unfunded institutional grants as reported on the Student Grants 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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7) 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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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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Private for-profit institutions

1) 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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2) 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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3) What are allowances in Part C (Student Grants)?

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) 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 functional categories listed for expenses are recommended by the National Association of College and

University Business Officers (NACUBO). You should do your best to determine which of these functional

categories are most fitting for your institutions. If you need further assistance classifying your expenses,

please call the Help Desk.

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2012-13 Survey Materials > Narrative Edits date: 12/4/2012

Finance for non-degree granting private, for-profit institutions

Edit specifications for the 2012-13 IPEDS Web-Based Data Collection

Finance Component

Applicable to Private-for-profit FASB-reporting institutions

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: Statements

Part B: Summary of Changes in Equity

Part C: Student Grants

Part D: Revenues and Investment Return

Part E: Expenses by Function

Screening Questions

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, 2012.

• 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, 2012.

• 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

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 2010 or 2011.

• The Year entered for the Ending date of the fiscal year should be either 2011 or 2012.

• The fiscal year Beginning date cannot be earlier than September 2010.

• The fiscal year Ending date cannot be later than October 2012.

• 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: Balance Sheet Information

On this screen, you must report your institution’s assets and liabilities for the most recent 12-month fiscal year.

Enter the Current year amount for each of the following:

• Total assets (line 01)

• Total liabilities (line 02)

Upon saving the screen, the system uses the above values to calculate additional equity 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 value reported for Total assets cannot be negative.

• If the Prior year amount of Total assets is greater than 0, then the current year value may NOT be equal to

that amount.

• A value must be entered for Total liabilities (line 02).

• 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.

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Part B: Summary of Changes in Equity

Applicable to institutions that are NOT partial parents

On this screen, you must report details about your institution’s changes in equity for the most recent 12-month fiscal year.

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 (line 01) must be greater than 0.

• If the Prior year amount of Total revenues is greater than or equal to 0, then the current year value is

expected to be within a 50% range of that 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 or equal to 0, then the current year value is

expected to be within a 50% range of that 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 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.

Applicable to institutions that are partial parents

On this screen, you must report details about changes in equity for your institution and all of its children for the most recent 12

-month fiscal year .

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. The Equity, end of year value from Part A of this survey is displayed for your reference.

The system will perform the following edits on the data entered:

• The value reported for Total revenues and investment return (line 01) on this screen must be greater than

the Total Amount of Revenues and investment return in Part D of this survey.

• The value reported for Total expenses (line 02) on this screen must be greater than the Total amount of Total

expenses in Part E of this survey.

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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 12-

month fiscal year.

Enter the Current year amount for each of the following:

• Pell grants, federal (line 01)

• Other federal grants (line 02)

• State and local grants, government (line 03)

• 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 student grants (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:

• The value reported for Pell grants (line 01) is expected to be greater than 0.

• If Federal appropriations was selected for Screeening Question 3, then the calculated amount of Total student

grants (line 05) cannot be negative.

• The calculated value of Total student grants is expected to be greater than 0.

• If the Prior year amount of Total student grants is greater than 0, then the current year value is expected to

be within a 50% range of that amount.

• If the Prior year amount of Total student grants is greater than 0, then the current year value may NOT be

equal to that amount.

• The calculated Total student grants 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).
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Part D: Revenues and Investment Return

For Part D, you must report your institution’s revenues and investment returns for the most recent 12-month fiscal year.

On this screen, enter the Current year amount for each of the following:

• Tuition and fees (line 01)

• Federal appropriations, grants and contracts (line 02)

• State and local government appropriations, grants and contracts (line 03)

• Private grants and contracts (line 04)

• Investment income and investment gains (losses) included in net income (line 05)

• Sales and services of educational activities (line 06)

• Sales and services of auxiliary enterprises (line 07) (For degree-granting institutions only)

If your institution is a partial child or partial parent, then you must also report the amount of Total revenues and investment

return (line 09). Otherwise, this information is preloaded by the system.

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.

Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 10). These

values are 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 the 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.

• If the Prior year amount of Tuition and fees is greater than 0, then the current year value is expected to be

within a 50% range of that amount.

• If the value reported for Tuition and fees is greater than 0, then that value cannot be equal to the value

reported for Allowances applied to tuition and fees in Part C of this survey.

• If your institution is NOT an administrative office and Federal appropriations was selected for Screeening

Question 3, then the value reported for Federal appropriations, grants and contracts (line 02) should be

greater than or equal to the amount of Pell grants reported in Part C.

• If your institution is degree-granting, then 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 must also be greater than 0.

• The calculated amount of Other revenue (line 08) is not expected to be negative.

• The calculated amount of Other revenue is expected to be no more than 75% of Total revenues and

investment return (line 09).

• If your institution is a partial child or partial parent, then the value reported for Total revenues and investment

return (line 09) must be greater than 0.

• If your institution is a partial child or partial parent, and the Prior year amount of Total revenues and

investment return is greater than or equal to 0, then the current year value is expected to be within a 50%

range of that amount.

• If your institution is a partial child or partial parent, and the Prior year amount of Total revenues in Part B of

this survey is greater than or equal to 0, then the value reported for Total revenues and investment return on

this screen is expected to be within a 50% range of that amount.

• If your institution is a 4-year institution, and a value greater than 0 is preloaded for the 12-month Student FTE

from E12 (line 10), then the calculated Total revenues and investment return per student FTE (line 11)

value is expected to be between 5,000 and 100,000.

• 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 10), then the calculated Total revenues and investment return per student FTE (line 11)

value is expected to be between 4,000 and 100,000.

• 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 10), then the calculated Total revenues and investment return per student

FTE (line 11) value is expected to be between 2,500 and 75,000.

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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.

On this screen, enter an amount for each of the following:

• Instruction (line 01)

• Research and Public service (line 02)

• Academic support, Student services and Institutional support (line 03)

• Auxiliary enterprises (line 04) (For degree-granting institutions only)

• Net grant aid to students (line 05)

If your institution is a partial child or partial parent, then you must also report the amount of Total expenses (line 07).

Otherwise, this information is preloaded by the system.

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.

Additionally, the 12-month Student FTE from the current year 12-month Enrollment survey is displayed (line 08). These

values are 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:
• If your institution is NOT an administrative office, then a value must be entered for Instruction (line 01).

• The value reported for Instruction cannot be negative.

• The value reported for Instruction is expected to be greater than 0.

• If the Prior year amount of Instruction is greater than 0, then the current year value is expected to be within a

50% range of that amount.

• The value reported for Research and Public service (line 02) cannot be negative.

• A value must be entered for Academic support, Student services and Institutional support (line 03).

• The value reported for Academic support, Student services and Institutional support cannot be negative.

• If your institution is degree-granting, then the value reported for Auxiliary enterprises (line 04) cannot be

negative.

• If your institution is degree-granting and the value reported for Sales and services of auxiliary enterprises in

Part D of this survey is greater than 0, then the value reported for Auxiliary enterprises on this screen must

also be greater than 0.

• The value reported for Net grant aid to students (line 05) cannot be negative.

• The value reported for Net grant aid to students must be less than or equal to the difference between Total

student grants and Allowances reported in Part C of this survey.

• The calculated amount of All other expenses (line 06) cannot be negative.

• The calculated amount of All other expenses is expected to be no more than 75% of Total expenses (line 07).

• If your institution is a partial child or partial parent, then the value reported for Total expenses must be greater

than 0.

• If your institution is a partial child or partial parent, and the Prior year amount of Total expenses is greater

than or equal to 0, then the current year value is expected to be within a 50% range of that amount.

• If your institution is a partial child or partial parent, and the Prior year amount of Total expenses in Part B of

this survey is greater than or equal to 0, then the value reported for Total expenses on this screen is expected

to be within a 50% range of that amount.

• If your institution is a partial child or partial parent, then the value reported for Total expenses cannot be equal

to the corresponding Prior year amount.

• If your institution is a partial child or partial parent, NOT an administrative office, and the value reported for Total

expenses 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 your institution is a 4-year institution, then the calculated amount of Total expenses per student FTE (line

09) is expected to be between 5,000 and 75,000.

• If your institution is a 2-year institution, then the calculated amount of Total expenses per student FTE is

expected to be between 4,000 and 75,000.

• If your institution is a less-than-2-year institution, then the calculated amount of Total expenses per student

FTE is expected to be between 2,500 and 75,000.