FY 2023 ACTUALS VS. FY 2023 OPERATING BUDGET
Â
REVENUE
FY 2023 Actuals vs. FY 2023 Operating Budget
Stony Brook University is a large and complex organization with many budgets to manage, each with their governing policies and procedures. This graph is a simplified view to provide clarity to various aspects of our finances, which can be difficult to understand. Unlike consolidated financial reporting, this operating budget to actuals view reflects 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.Â
Please note, 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). Debt service and fringe benefits that are assessed locally and funded by the University are included in the chart.
Â
Â
SOURCE OF FUNDS
FY 2023 Actuals vs. Operating Budget
These charts compare actual funding and budgeted funding across the institution during the 2022/23 financial year (FY 2023).
FY 2023 actuals were $13.6M less than budgeted. The most notable area where this difference can be seen is in the Total Hospital Revenue, which generated $89.4M less than planned. This shortfall was partially offset by areas that exceeded their planned revenue, such as Self-Sustaining Operations ($18.0M), State Tax Support ($14.3M), and Total Clinical Practice ($11.3M). In totality, the Healthcare Enterprise fell short of its revenue budget by $67.9M and the Academic & Research Enterprise exceeded their revenue budget by $54.3M.
Â
Â
ACADEMIC & RESEARCH ENTERPRISE SOURCE OF FUNDS
FY 2023 Actuals vs. Operating Budget
Actual funding for Academic & Research Enterprise operations totaled $1.3B, which was more than the budgeted amount by $54.3M.Â
For the first time in more than a decade State operating aid increased to $162.1M, exceeding the historical budget of $147.7M. Of this $14.3M increase, all of the components are one-time in nature except for $4.2M for new funding for full-time faculty which SUNY subsequently shifted to the General IFR fund. Â
Additionally, the University received an unanticipated $9.7M in CARES Act funding for FY 2023. There were also increases in SBF Agency and Research funding over the budgeted amount. Â
Â
HEALTHCARE ENTERPRISE SOURCE OF FUNDS
FY 2023 Actuals vs. Operating Budget
COVID-19 residual impacts continue to affect the Healthcare Enterprise, with a shortfall of $67.9M below their budgeted revenue for FY 2023. The largest contributor to this shortfall was in SBU Hospital.
Note: This reflects the operating budget as of September 2022 and actuals as of June 2023. This website has been updated as of January, 2024.
EXPENSES
FY 2023 Actuals vs. FY2023 Operating Budget
Stony Brook University is a large and complex organization with many budgets to manage, each with their governing policies and procedures. This graph is a simplified view to provide clarity to various aspects of our finances, which can be difficult to understand. Unlike consolidated financial reporting, this operating budget to actuals view reflects each fund in its entirety. For example, sponsored research direct expenses are used to fund salary offset to reimburse for PI salaries; both of these activities are shown in their respective funds.Â
Please note, 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). Debt service and fringe benefits that are assessed locally and funded by the University are included in the chart.
COSTS BY DIVISION
FY 2023 Actuals vs. Operating Budget
These charts compare budgeted and actual costs by division across the entire institution in FY 2023. In the previous segment, the actual FY 2023 revenue fell short of the FY 2023 budgeted figures. In this segment, the actual FY 2023 costs were lower than FY 2023 budgeted costs by $113.2M. $70.8M of this reduction in actual costs is in the Healthcare Enterprise, and $42.4M in reductions are within the Academic & Research Enterprise.Â
COSTS BY EXPENSE TYPE
FY 2023 Actuals vs. Operating Budget
These charts show FY 2023 costs by type of expense across the organization, comparing the actual and budgeted costs. Actual Salary & Wages account for 61.1% of institution-wide costs. The second largest component was Other at 12.3%. Other includes, but is not limited to, license fees, mail and messenger services, printing and graphics, advertising and promotional expenses, general and administrative expenses, telephone expenses and depreciation for full accrual, external health care entities (Southampton and Eastern Long Island Hospitals). This is followed by Contractual Services which represents 9.8% of the total costs.
ACADEMIC & RESEARCH ENTERPRISE COSTS BY DIVISION
FY 2023 Actuals vs. Operating Budget
The FY 2023 actual costs were $42.4M less than what was budgeted in the Academic & Research Enterprise. The most notable areas which spent less than budgeted are Provost/Academic Affairs at $24.8M and Health Sciences & School of Medicine at $23.2M. Conversely, SBF Agency Funds had $9.3M more actual costs than budgeted, but as noted in the Revenue section, this area also had $11.5M more in actual revenue than budgeted for FY 2023. Â
UNIVERSITY ADMINISTRATION COSTS
FY 2023 Actuals vs. Operating Budget
The University Administration category comprises much of the non-academic general operating costs for the University, including Utilities, Facilities, Operations & Safety. Overall, there was less than a 1% variance between the FY 2023 actuals and budget costs for University Administration. Areas with the most significant reductions in actual expenses versus budget are Student Aid at $6.1M and Utilities at $5.9M. The reduction in Student Aid actuals versus budget is consistent with the reduction in actual gross tuition revenue. Also, much of the Utilities costs savings is related to timing. Conversely, the areas with the largest increase in actual costs versus their budget are Enterprise Risk Management at $3.5M, Finance, HR & Procurement at $3.2M, and Facilities, Operations and Safety at $1.8M.Â
STONY BROOK FOUNDATION COSTS
FY 2023 Actuals vs. Operating Budget
The Stony Brook Foundation (SBF) support reflected in these charts includes external philanthropic support as well as the investment returns from the endowment fund. Overall, there was $2.9M more actual costs than budgeted costs in FY 2023. Most of that increase is in the Advancement VP area. SBF Agency Funds (not included in this visual) represent pass-through funds owned by the University and invested by SBF on the University’s behalf.Â
ACADEMIC & RESEARCH ENTERPRISE COSTS
FY 2023 Actuals vs. Operating Budget
These charts show Academic & Research Enterprise operations costs by type of expense. Salary & Wages represent the most substantial cost category, followed by Other and Student Aid. The category entitled Other includes many sub-categories including, but not limited to indirect costs of practice, expense transfers and subawards.
Overall, FY 2023 actual costs were $42.4M less than budget or within 3.3% of the forecast. The categories with the most cost reduction were Other at $28.2M, Utilities at $13.5M, Student Aid at $12.3M, Contractual Services at $11.8M and Supplies at $8.3M. In addition to the costs savings, the Academic & Research Enterprise also generated $54.3M more in actual revenue over budget for FY 2023.
HEALTHCARE ENTERPRISE BY EXPENSE
FY 2023 Actuals vs. Operating Budget
These charts show the Healthcare Enterprise by type of expense.
Salary & Wages represent the most substantial actual cost, followed by Clinical Practice Supplies, Contractual Services and Other. In total, the Hospital & Clinics underspent their budget by $70.8M—most of which was in Salary & Wages and Contractual Services. Â
Note: This reflects the operating budget as of September 2022, revenue costs as of June 2023 and expenses as of September 2023. This website has been updated as of January 2024.
FY 2023 HEALTHCARE ENTERPRISE
FY 2023 Healthcare Enterprise Actuals Funding vs. Costs
Although the actual revenue for the Healthcare Enterprise was less than budgeted,
combined with cost savings, the actual funding was $89M more than the actual costs.
SBU Hospital, Clinical Practice and Eastern Long Island Hospital all ended with an
operating surplus. With the addition of Cares Act funding, Veterans Home was also
able to end in a positive balance.
Â
Healthcare Enterprise | Funding | Costs | Surplus (Deficit) |
---|---|---|---|
SBU Hospital | $1,549 M | $1,482 M | $67 M |
Southampton Hospital | $216M | $223 M | ($7 M) |
Eastern Long Island Hospital | $63 M | $62 M | $1 M |
Clinical Practices | $755 M | $729 M | $26 M |
Veteran's Home | $66 M | $67 M | ($0 M) |
CARES Act Funding | $1 M | - | $1 M |
Total Hospital and Clinic | $2,651 M | $2,562 M | $89 M |
FY 2023 ACADEMIC & RESEARCH ENTERPRISE
FY 2023 Academic &Â Research Enterprise Actuals Funding vs. Costs
Between increases in revenue over budget and reductions to costs from budget, all segments within the Academic & Research Enterprise ended the year either in balance or with a net surplus. The total surplus for the year was $86M. University leadership, through the budget planning process has made plans to invest these resources in the outyears.
Academic & Research Enterprise | Funding | Costs | Surplus (Deficit) |
---|---|---|---|
Academic & Support | $808M | $775 M | $33 M |
Sponsored Research | $254 M | $254 M | - |
Other Research Activities | $98 M | $79 M | $19 M |
Research Investment Income | - | - | - |
Stony Brook Foundation | $59 M | $59 M | - |
SBF Agency Funds | $59 M | $35 M | $24 M |
Faculty Student Association | $36 M | $36 M | ($0 M) |
CARES Act Funding | $10 M | - | $10 M |
Total Academic and Research | $1,324 M | $1,238 M | $86 M |
FY 2023 OPERATING
FY 2023 Operating Actuals Funding vs. Costs
Overall, FY 2023 ended in a net $175M surplus. Roughly half of this surplus came
from the Healthcare Enterprise (Hospitals & Clinics) and the other half was from the
Academic & Research Enterprise.
 | Funding | Costs | Surplus (Deficit) |
---|---|---|---|
Healthcare Enterprise | $2,651 M | $2,562 M | $89 M |
Academic & Research Enterprise | $1,324 M | $1,238 M | $86 M |
Total Operating Budget | $3,975 M | $3,800 M | $175 M |