MSCHE Self Study April 2021

uncertain to what extent the State and SUNY system will support the campuses. Therefore, we are operating under similar fiscal constraints as the last quarter of 2019 ‐ 20 by curtailing equipment purchasing and travel, continuing a hiring freeze and overall spending reductions until such time as we get a better sense of the magnitude of the State’s fiscal crisis and what that means in terms of State support to the campuses, potentially in the 20% range. Furthermore, System and the NYS Division of Budget have informed campuses to only encumber for a six ‐ month period. They have also deferred negotiated contractual salary increases The State University of New York State College of Optometry operates in an efficient and financially sound ( Financial Statements and Ratios ) manner, enabling it to make continued progress in achieving the goals and objectives set forth in its strategic plan. Its all ‐ funds financial condition, as evidenced by IPEDS Budgetary Data for the period FY 2012 ‐ 13 through FY 2018 ‐ 19 indicates steady growth in Total All Revenues & Other Additions. These data also indicate that Total Expenses & Deductions track revenues appropriately; spending is kept to within the institution’s available resources. As indicated in the following graph, the College’s Composite Score compares favorably to other SUNY campuses. For 2018 ‐ 19, the College’s composite score was 2.8, the highest of any SUNY campus.

A further indication of the College’s fiscal strength is its fund balances, which are reserve funds that can be used to support its priorities. Until the COVID pandemic, and over the last several years, the College has been able not only to maintain but also to grow its fund balances to over $19M as of 6/30/19. Because of the State withholding payments for FY 2020 to all its campuses, our reserve as of 6/30/20 was just a bit over $9M. As of December 31, 2020 it is back to $13.4M.

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