REVENUE

FY 2023 Actuals vs. FY 2024 Operating Budget

Stony Brook University (SBU) is a large and complex organization, each entity with its own governing policies and procedures. SBU is made up of two groups of activities: the Healthcare Enterprise (which includes three Hospitals, Clinical Practice & the Veterans Home) and the Academic & Research Enterprise (which includes Academic & Support, Research funds and Stony Brook Foundation funds). 

This graph is a simplified view to provide clarity to various aspects of our finances. Unlike consolidated financial reporting, this budget to actuals view reflects our operating budget, with each fund in its entirety. For example, Sponsored Research direct expenses are used to fund salary offset to reimburse for Principal Investigator (PI) salaries; both of these activities are shown in their respective funds. 

The total operating revenue does not include the portions of our state support paid directly by New York State on our behalf, such as payments for State debt service and State fringe benefits (e.g., healthcare and retirement for faculty and staff). 

SOURCE OF FUNDS

FY 2023 Actuals vs. FY 2024 Operating Budget

These charts show sources of funding across the organization, comparing actual funding (FY 2023) and budgeted funding (FY 2024).

We anticipate increased funding and costs in FY 2024.

The FY 2024 funding budget is 11.1% (or $443.0M) more than the prior year (PY) actuals. $389.5M of this planned increase in funding is for the Healthcare Enterprise and $53.5M is for the Academic & Research Enterprise. The planned growth in the Healthcare Enterprise is primarily from patient revenue and the Medicaid Disproportionate Share Hospital program (DSH).  For the Academic & Research Enterprise, the planned increase in funding is from self-generated IFR & SUTRA activities, state operating aid and SBF Support.  

It is important to note that in FY 2024, SBU received a historic $24.1M increase in State operating aid.  $5.5M of this funding was restricted for specific activities, such as supporting students with disabilities, mental health support, support for internship opportunities, support for research, and food insecurity support.  Prior to this, there had not been a base increase in State operating aid for SBU in over a decade.  This full $24.1M increase is understated in the delta because the FY 2023 actual funding included one-time funding that will not recur in FY 2024.  This additional funding will support increased investments in faculty and staff, advising and tutoring, critical IT and capital infrastructure, as well as post-research award support. 

ACADEMIC & RESEARCH ENTERPRISE SOURCE OF FUNDS

FY 2023 Actuals vs. FY 2024 Operating Budget

The total Academic & Research Enterprise funding budget is $53.5M more than PY actuals, and comprises planned increases of $31.4M in IFR & SUTRA, $20.4M in Stony Brook Foundation support, $9.8M in State tax support, and a net decrease of $8.2M in the remaining categories. It should also be noted that the majority of philanthropic activity captured in the SBF support is restricted by donor intent, and therefore non-fungible. 

HOSPITAL AND CLINIC PRACTICES SOURCE OF FUNDS

FY 2023 Actuals vs. FY 2024 Operating Budget

The Healthcare Enterprise revenue is planning to increase by $389.5M (or 15%) from prior year actuals. This is made up of $217.8M in planned increases in Stony Brook Hospital patient revenue, $155.5M increase in DSH (which is paid in arrears)  and $16.2M in the remaining categories (Eastern Long Island, Southampton, Veterans Home, etc.).  

Note: The figures in this report reflect the operating budget as of September 2023 and Actuals as of June 2023. This website has been updated as of January 2024. 

EXPENSES

FY 2023 Actuals vs. FY 2024 Operating Budget

This geographic chart shows Stony Brook University’s cost in terms of actuals versus operating budget. It compares FY 2023 actuals with budgeted costs for FY 2024.

 

 

 

 

 

 

 

 

COSTS BY DIVISION

FY 2023 Actuals vs. FY 2024 Operating Budget

These charts compare Stony Brook University’s actual costs by division during FY 2023 with budgeted expenses for FY 2024. Budgeted expenses are planned to be $570M more than the prior year actuals—$358.6M of this planned increase in costs is in the Healthcare Enterprise due to mandatory salary increases, as well as rising costs for equipment, and supplies to sustain operations. The Academic & Research Enterprise has planned increased expenditures of $211.5M due to increases in strategic investments (to support critical activities across the University, including hiring of faculty and staff, student support services, and information technology), as well as inflationary costs, and contractual salary increases (including retroactive payments).

COSTS BY EXPENSE TYPE

FY 2023 Actuals vs. FY 2024 Operating Budget

These charts show the breakdown of costs across the entire organization by type of expense.

Salary & Wages is the largest expense category, making up 60.2% ($2.6B) of the planned spend for FY 2024 and is  $308M (13.3%) higher than FY 2023 actuals.

The utilities expense category is projected to increase by 44% from FY 2023 actuals ($60.5M in FY 2023 actuals vs. $87.2M in FY 2024 projected costs).  The FY 2024 projections may be overinflated, as Q1 utilities forecast indicates lower projected costs.  

The Other expense category is projected to increase by  29% or $137.3M from the FY 2023 actuals. This increase is primarily being driven by software license fees, mail and messenger services, printing and graphics, advertising and promotional expenses, general administrative expense, telephone expenses, travel and depreciation for full accrual reporting for the external hospitals (Southampton Hospital and Eastern Long Island Hospital). SBU Hospital depreciation is excluded from this reporting. 

Equipment expenses are expected to increase by 23% or $15.2M from the FY 2023 actuals. This is primarily due to inflationary costs. Conversely, the Supplies-Other category is expected to decrease by 20% or $14.3M for FY 2024. This category includes over 40 natural classifications including classroom, lab and research supplies.  

ACADEMIC & RESEARCH ENTERPRISE COSTS BY DIVISION

FY 2023 Actuals vs. FY 2024 Operating Budget

There is a planned increase in costs of $211.5M from FY 2023 actual costs to FY 2024 budget for the Academic & Research Enterprise.  The most significant increase is anticipated in SBF Agency Funds ($34.5M in FY 2023 to $77.2M in FY 2024 projected expenses) related to increased cancer research investments, School of Medicine personnel commitments, increased research awards as well as funding for HSC Facilities. 

UNIVERSITY ADMINISTRATION COSTS

FY 2023 Actuals vs. FY 2024 Operating Budget

The University Administration category comprises much of the general operating costs for the University. This segment is expected to have $34M more in budgeted costs when compared to the prior year actuals. The areas with the largest planned increase in expenses are Utilities ($17M) and Facilities, Operations & Safety ($10M)—primarily for critical infrastructure investments, including the new Enterprise Resource Planning (ERP) initiative, WolfieONE.

STONY BROOK FOUNDATION COSTS

FY 2023 Actuals vs. FY 2024  Operating Budget

The Stony Brook Foundation (SBF)is a nonprofit organization that exists to support and advance excellence at Stony Brook University by raising and managing private funds on the University’s behalf. There is a $20.4M increase in planned expenses over FY 2023 actuals. More than half of this is committed for School of Medicine.

SBF support reflected in these charts include external philanthropic support, but does not include the $77M categorized as SBF Agency funds elsewhere. SBF Agency Funds (not reflected in this visual) represent pass-through funds owned by the University but restricted for use in the Renaissance School of Medicine (SOM), and invested by the Stony Brook Foundation on behalf of the University.

ACADEMIC & RESEARCH ENTERPRISE COSTS BY EXPENSE

FY 2023 Actuals vs. FY 2024 Operating Budget

These charts show Academic & Research Enterprise operations by type of expense. Salary & Wages account for the largest cost category of the FY 2024 budget, followed by Other, Contractual Services and Student Aid. Other is a mix of other subcategories which includes, but is not limited to, sponsored research indirect costs, expense transfers and Subawards.

The Academic & Research Enterprise FY 2024 budget is $211.5 more than the FY 2023 actuals—$56.4M of this is for salary and wages.  Of this $56.4M, 46% is related to contractual salary increases and 54% reflects leadership investments in faculty and staff through the budget planning process.  There is also $21.3M in planned increases to utilities costs and $11.1M in planned increases in student aid costs. The remainder of the planned increased OTPS costs are spread evenly across the categories.

HEALTHCARE ENTERPRISE BY EXPENSE

FY 2023 Actuals vs. FY 2024 Operating Budget

These charts show the Healthcare Enterprise operations by type of expense, which is anticipated to increase by $358.6M for FY 2024. Salary & Wages account for the largest portion of the FY 2024 budget at 63.1%, followed by Clinical Practice Supplies at 12.8%, and Contractual Services at 11.4%. 

Note: This reflects the operating budget as of September 2023 and Actuals as of June 2023. This website has been updated as of January 2024.