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. 

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.

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.

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. 

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.  

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.  

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.

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. 

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.