2016_SUNY_Optometry_PRR

The College is financially sound. Its all ‐ funds financial condition, as evidenced in the attached IPEDS data trended over the period FY 2010 ‐ 11 through FY 2018 ‐ 19, indicates steady growth in Total All Revenues & Other Additions (see Appendix 4.2 for data and explanatory notes.) These data also indicate that Total Expenses & Deductions track revenues appropriately, and spending 3 is kept within available resources. Please note that since the College is a campus of the State University of New York system, it does not have its own audited financial statements or management letter. SUNY does have an annual, consolidated audit that is provided in Appendix 4.3 . Capital projects are funded through bond sales made by the Dormitory Authority of the State of New York, according to the State’s enacted budget, and administered on behalf of the Campus by the SUNY Construction Fund. Since FY 2010 ‐ 11, the College has benefitted from a capital budget that has enabled many significant projects to proceed to completion. These projects are in addition to a minor critical maintenance budget of $150,000 per year and salary/fringe for the College’s capital programs coordinator. Examples of recently completed projects with their respective budgets are:  Expansion of the Biological Research Facility and renovation of several office suites housing research faculty. Budget: $2.56M  Renovation of Lecture Halls 101 and 103, including all new audio/visual equipment. Budget: $2.47M  Creation of the Center for Student Life and Learning located on portions of floors 2, 3 and 3M. Budget: $9.9M

 Installation of new audio/visual equipment in Lecture Hall 206. Budget: $241K  Rehabilitation of the building’s primary electrical systems. Budget: $9.2M

The following additional projects are currently underway:  Renovation of the main lobby floor of the building. Budget: $5.95M

 Rehabilitation of the building’s primary mechanical (HVAC) systems. Budget: $5.5M  Design of the Lower Lobby Level to accommodate student teaching labs. Budget: $494K Projects anticipated for the next three fiscal years include:  Lower Lobby Level construction based on the design mentioned above. Budget: $4.9M  Continuation of the mechanical systems project mentioned above. Budget: $9.1M  Renovation of clinical/patient care spaces. Budget: Pending capital allocations in subsequent fiscal years. (Projects of this nature will require various infrastructure improvements prior to getting underway.)

3 The IPEDS data include expenses such as employee benefits, post ‐ employment retirement benefits, depreciation and interest that are dealt with at the SUNY System level and are not direct campus expenditures.

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