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Finance 2010-11 Institution: Valencia Community College (138187)
User ID: P1381871
Overview Finance Overview Purpose The purpose of the IPEDS Finance component is to collect basic financial information from items associated with the institution's General Purpose Financial Statements.
Resources: To download the survey materials for this component: Survey Materials To access your prior year data submission for this component: Reported Data If you have questions about completing this survey, please contact the IPEDS Help Desk at 1-877-225-2568.
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Institution: Valencia Community College (138187)
User ID: P1381871
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.
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Institution: Valencia Community College (138187)
User ID: P1381871
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, 2010.) Beginning: month/year (MMYYYY)
Month:
7
Year: 2009
And ending: month/year (MMYYYY)
Month:
6
Year: 2010
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.
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Institution: Valencia Community College (138187)
User ID: P1381871
Part A - Statement of Net Assets Fiscal Year: July 1, 2009 - June 30, 2010 Line no.
Current year amount
Prior year amount
Current Assets 01
Total current assets
62,465,497
74,215,547
156,172,080
131,160,973
Noncurrent Assets 31
Depreciable capital assets, net of depreciation
04
Other noncurrent assets CV=[A05-A31]
05
Total noncurrent assets
203,270,244
184,562,150
06
Total assets CV=(A01+A05)
265,735,741
258,777,697
07
Long-term debt, current portion
08
Other current liabilities CV=(A09-A07)
8,705,028
12,443,573
09
Total current liabilities
9,030,028
12,748,573
47,098,164
53,401,177
Current Liabilities 325,000
305,000
Noncurrent Liabilities 10
Long-term debt
2,925,000
3,290,000
11
Other noncurrent liabilities CV=(A12-A10)
6,863,476
5,850,011
12
Total noncurrent liabilities
9,788,476
9,140,011
13
Total liabilities CV=(A09+A12)
14
Invested in capital assets, net of related debt
18,818,504
21,888,584
Net Assets
15
Restricted-expendable
16
Restricted-nonexpendable
17
Unrestricted CV=[A18-(A14+A15+A16)]
18
Total net assets CV=(A06-A13)
182,317,473
172,527,233
39,268,510
49,011,523
0
0
25,331,254
15,350,357
246,917,237
236,889,113
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Institution: Valencia Community College (138187)
User ID: P1381871
Part A - Statement of Net Assets (Page 2) Fiscal Year: July 1, 2009 - June 30, 2010
Line No.
Description
Prior year Ending balance
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
29,144,857
18,597,912
0
0
221,731,794
176,299,421
15,061,270
28,274,323
250,536
26,363,348
266,188,457
249,535,004
80,620,984
73,412,771 0 0
33
Intangible assets, net of accumulated amortization
0
34
Other capital assets
0
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Institution: Valencia Community College (138187)
User ID: P1381871
Part B - Revenues and Other Additions Fiscal Year: July 1, 2009 - June 30, 2010 Report in whole dollars only Line No. Source of Funds
Current year amount
Prior year amount
Operating Revenues 01
Tuition & fees, after deducting discounts & allowances
02
Federal operating grants and contracts
45,649,251
44,366,673
736,047
819,360
Grants and contracts - operating
03
State operating grants and contracts
04
Local government/private operating grants and contracts 04a Local government operating grants and contracts
0
1,871,499
0 2,348,804
0
0
1,871,499
2,348,804
05
Sales & services of auxiliary enterprises, after deducting discounts & allowances
14,008,737
14,312,290
26
Sales & services of educational activities
82,669
182,773
08
Other sources - operating (CV) CV=[B09-(B01+ ....+B07)]
09
Total operating revenues
04b Private operating grants and contracts
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1,171,953 63,520,156
933,059 62,962,959
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Institution: Valencia Community College (138187)
User ID: P1381871
Part B - Revenues and Other Additions Fiscal Year: July 1, 2009 - June 30, 2010 Line No.
Source of funds
Current year amount
Prior year amount
Nonoperating Revenues 10
Federal appropriations
0
0
57,656,855
62,468,187
0
0
11
State appropriations
12
Local appropriations, education district taxes, & similar support
13
Federal nonoperating grants
66,743,615
36,848,739
14
State nonoperating grants
12,448,893
12,539,321
15
Local government nonoperating grants
0
0
Grants-nonoperating
16
Gifts, including contributions from affiliated organizations
371,155
17
Investment income
408,129
812,542
18
Other nonoperating revenues CV=[B19-(B10+...+B17)]
5,134,737
448,378
19
Total nonoperating revenues
142,763,384
113,192,713
27
Total operating and nonoperating revenues CV=[B19+B09]
206,283,540
176,155,672
28
12-month Student FTE from E12 CV=[B28a+B28b]
29
28a
Undergraduates
28b
Graduates
Total operating and nonoperating revenues per student FTE CV= [B27/B28]
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75,546
29,872 29,872
6,906
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Institution: Valencia Community College (138187)
User ID: P1381871
Part B - Revenues and Other Additions Fiscal Year: July 1, 2009 - June 30, 2010 Line No.
Source of funds
Current year amount
Prior year amount
Other Revenues and Additions Capital appropriations
2,291,135
41,811,060
21
Capital grants & gifts
11,722,079
16,657,891
22
Additions to permanent endowments
0
0
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]
20
0 14,013,214
220,296,754
0 58,468,951
234,624,623
You may use the space below to provide context for the data you've reported above.
The college has no permanent endowments at this time.
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Institution: Valencia Community College (138187)
User ID: P1381871
Part C - Expenses and Other Deductions Fiscal Year: July 1, 2009 - June 30, 2010 Report in whole dollars only 1 Line Description No.
2
Total amount
Salaries & wages
3
4
5
6
7
8
Employee fringe benefits
Operation and maintenance of plant
Depreciation
Interest
All other
PY Total Amount
Expenses and Deductions 01
Instruction
78,178,470
49,081,388
8,508,864
12,149,895
3,377,846
74,415
0
0
0
0
0
0
0
0
0
0
0
0
0
0
02
Research
0
03
Public service
0
4,986,062 76,296,848
05
Academic support
15,823,346
8,649,270
2,581,299
2,459,143
683,677
15,062
1,434,895 15,392,606
06
Student services
24,968,804
13,137,177
3,335,343
3,880,459
1,078,824
23,767
3,513,234 23,547,320
07
Institutional support
35,184,647
13,839,558
3,919,119
5,468,127
1,520,218
33,491
10,404,134 42,824,749
08
Operation & maintenance of plant (see instructions)
6,764,458
2,220,946
-27,948,940
0
0
10
Scholarships and fellowships expenses, excluding discounts & allowances
30,431,248
11
Auxiliary enterprises
25,682,115
14
Other expenses & deductions CV=[C19(C01+...+C13)]
19
Total expenses & deductions
210,268,630
92,537,029
20,942,012
Prior year amount
199,148,116
85,858,572
19,142,365
20
12-month Student FTE from E12 CV=[C20a+C20b]
29,872
20a Undergraduates
29,872
0
0
18,963,536
30,431,248 19,001,829
1,065,178
0
376,441
3,991,316
0
0
0
1,109,644
0
24,446
0
19,115,090 22,084,764 0
0
7,770,209
171,181
88,848,199 199,148,116
6,661,246
191,994
87,293,939
20b Graduates 21
Total expenses and deductions per student FTE CV= [C19/C20]
7,039
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Institution: Valencia Community College (138187)
User ID: P1381871
Part D - Summary of Changes In Net Assets Fiscal Year: July 1, 2009 - June 30, 2010 Line No. Description
Current year amount
Prior year amount
01
Total revenues & other additions (from B25)
220,296,754
234,624,623
02
Total expenses & deductions (from C19)
210,268,630
199,148,116
03
Change in net assets during year CV=(D01-D02)
10,028,124
35,476,507
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)
236,889,113
201,412,606
0
0
246,917,237
236,889,113
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Institution: Valencia Community College (138187)
User ID: P1381871
Part E - Scholarships and Fellowships Fiscal Year: July 1, 2009 - June 30, 2010
Line No. Source 01
Pell grants (federal)
02
Other federal grants
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
Current year amount 61,699,264
Prior year amount 32,988,415
3,107,212
1,593,180
11,943,685
11,799,145
17,322
22,551
4,849,652
4,915,744
73,226
237,394
81,690,361
51,556,429
41,882,882
26,968,978
Discounts and Allowances 08
Discounts & allowances applied to tuition & fees
09
Discounts & allowances applied to sales & services of auxiliary enterprises CV= (E10-E08)
10
11
9,376,231
5,585,622
Total discounts & allowances CV=(E07-E11)
51,259,113
32,554,600
Net scholarships and fellowships expenses after deducting discount & allowances (from C10)
30,431,248
19,001,829
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Institution: Valencia Community College (138187)
User ID: P1381871
Part H - Details of Endowment Assets Fiscal Year: July 1, 2009 - June 30, 2010 Line Value of Endowment Assets No.
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
44,670,430
36,632,225
02
Value of endowment assets at the end of the fiscal year
47,872,670
44,670,430
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Institution: Valencia Community College (138187)
User ID: P1381871
Part J - Revenue Data for Bureau of Census Fiscal Year: July 1, 2009 - June 30, 2010 Amount
Source and type
Tuition and 01 fees
Total for all funds and operations (includes Education and endowment general/independent funds, operations but excludes component units) (1)
(2)
87,532,133
87,532,133
Auxiliary enterprises
Hospitals
Agriculture extension/experiment services
(3)
(4)
(5)
02
Sales and services
23,467,637
82,669
03
Federal grants/contracts (excludes Pell Grants)
10,703,422
10,703,422
0
0
0
59,953,793
59,953,793
0
0
0
12,448,893
12,448,893
0
0
0
0
23,384,968
Revenue from the state government: State appropriations, 04 current & capital 05
State grants and contracts
Revenue from local governments: Local appropriation, 06 current & capital
0
0
0
0
0
Local 07 government grants/contracts
0
0
0
0
0
08
Receipts from property and non-property taxes
0
09
Gifts and private grants, including capital grants
7,294,629
10
Interest earnings
432,590
11
Dividend earnings
0
12
Realized capital gains
909
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Institution: Valencia Community College (138187)
User ID: P1381871
Part K - Expenditure Data for Bureau of Census Fiscal Year: July 1, 2009 - June 30, 2010 Amount
Category
Total for all funds and operations (includes endowment funds, but excludes component units) (1)
Education and general/ independent operations
Auxiliary enterprises
Hospitals
Agriculture extension/ experiment services
(2)
(3)
(4)
(5)
01 Salaries and wages
92,537,029
91,471,851
1,065,178
0
02 Employee benefits, total
20,942,012
20,565,571
376,441
0
Payment to state retirement funds (maybe 03 included in line 02 above)
4,777,637
4,669,598
108,039
0
0
Current expenditures other than salaries
44,058,882
25,062,889
18,995,993
0
0
04
Capital outlay: 13,433,855
13,425,610
8,245
0
0
06 Equipment purchases
6,639,378
6,504,977
134,401
0
0
07 Land purchases
5,482,840
5,482,840
0
0
0
05 Construction
Interest on debt 08 outstanding, all funds & activities 09 Scholarships/fellowships
0
81,690,361
81,690,361
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Institution: Valencia Community College (138187)
User ID: P1381871
Part L - Debt and Assets, page 1 Fiscal Year: July 1, 2009 - June 30, 2010 Debt Category
Amount
01
Long-term debt outstanding at beginning of fiscal year
0
02
Long-term debt issued during fiscal year
0
03
Long-term debt retired during fiscal year
0
04
Long-term debt outstanding at end of fiscal year
0
05
Short-term debt outstanding at beginning of fiscal year
0
06
Short-term debt outstanding at end of fiscal year
0
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Institution: Valencia Community College (138187)
User ID: P1381871
Part L - Debt and Assets, page 2 Fiscal Year: July 1, 2009 - June 30, 2010 Assets Category
Amount
07 Total cash and security assets held at end of fiscal year in sinking or debt service funds
0
08 Total cash and security assets held at end of fiscal year in bond funds
0
09 Total cash and security assets held at end of fiscal year in all other funds
0
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Institution: Valencia Community College (138187)
User ID: P1381871
Summary
Finance Survey Summary IPEDS collects important information regarding your institution. All data reported in IPEDS survey components become available in the IPEDS Data Center and appear as aggregated data in various Department of Education reports. Additionally, some of the reported data appears specifically for your institution through the College Navigator website and is included in your institution’s Data Feedback Report (DFR). The purpose of this summary is to provide you an opportunity to view some of the data that, when accepted through the IPEDS quality control process, will appear on the College Navigator website and/or your DFR. College Navigator is updated approximately three months after the data collection period closes and Data Feedback Reports will be available through the ExPT and sent to your institution’s CEO in November 2011. Please review your data for accuracy. If you have questions about the data displayed below after reviewing the data reported on the survey screens, please contact the IPEDS Help Desk at: 1-877-225-2568 or ipedshelp@rti.org. Core Revenues Revenue Source
Reported values
Percent of total core revenues
Core revenues per FTE enrollment
Tuition and fees
$45,649,251
22%
$1,528
Government appropriations
$57,656,855
28%
$1,930
Government grants and contracts
$79,928,555
39%
$2,676
$2,242,654
1%
$75
$408,129
0%
$14
Private gifts, grants, and contracts Investment income Other core revenues
$20,402,573
10%
$683
Total core revenues
$206,288,017
100%
$6,906
Total revenues
$220,296,754
$7,375
Core revenues include tuition and fees; government appropriations (federal, state, and local); government grants and contracts; private gifts, grants, and contracts; investment income; other operating and nonoperating sources; and other revenues and additions. Core revenues exclude revenues from auxiliary enterprises (e.g., bookstores, dormitories), hospitals, and independent operations.
Core Expenses Expense function
Reported values
Instruction
Percent of total core expenses
Core expenses per FTE enrollment
$78,178,470
42%
Research
$0
0%
$2,617 $0
Public service
$0
0%
$0
Academic support
$15,823,346
9%
$530
Institutional support
$35,184,647
19%
$1,178
Student services
$24,968,804
14%
$836
Other core expenses
$30,431,248
16%
$1,019
Total core expenses
$184,586,515
100%
$6,179
Total expenses
$210,268,630
$7,039
Core expenses include expenses for instruction, research, public service, academic support, institutional support, student services, operation and maintenance of plant, depreciation, scholarships and fellowships expenses, other expenses, and nonoperating expenses.
Calculated value FTE enrollment
29,872
The full-time equivalent (FTE) enrollment used in this report is the sum of the institution’s FTE undergraduate enrollment and FTE graduate enrollment (as calculated from or reported on the 12-month Enrollment component). FTE is estimated using 12month instructional activity (credit and/or contact hours). All doctor’s degree students are reported as graduate students.
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Institution: Valencia Community College (138187)
User ID: P1381871
Explanation Report Number Source
Location
Description
Severity
Accepted
Screen: Part B - Revenues and Other Additions The revenue amount per student FTE in line 29 is smaller than expected for Explanation Yes your type of institution. Please explain this result. The revenue amount per student FTE is smaller than expected because the increase Reason: in enrollment growth was not matched by a corresponding increase in operating and nonoperating revenues. Row: 35 Screen 1 Col: 3 Entry
Screen: Part B - Revenues and Other Additions Row: 33 Perform This number should not be zero or Col: 3 Edits blank. Please explain. Reason: The college has no permanent endowments at this time. 2
Explanation
Yes
Screen: Part E - Scholarships and Fellowships The number entered, 81,690,361, has an expected range of between 25,778,215 and 77,334,643 based on Explanation Yes last year's amount. Please explain this difference. Total gross scholarships and fellowships is greater than expected as a result of Reason: enrollment growth, number of eligible participants qualifying for financial aid and year-round Pell awards. The number entered, 41,882,882, has an expected range of between Row: 16 Screen Yes 4 13,484,489 and 40,453,467 based on Explanation Col: 3 Entry last year's amount. Please explain this difference. Discounts and allowances is greater than expected as a result of enrollment growth, Reason: number of eligible participants qualifying for financial aid and year-round Pell awards. Row: 13 Screen 3 Col: 3 Entry
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