Finance 2013-14
Institution: Gordon State College (139968)
User ID: P1399681
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.
There have been no changes to the 2013-14 Finance data collection from the 2012-13 collection.
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.
Institution: Gordon State College (139968)
User ID: P1399681
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.
Institution: Gordon State College (139968)
User ID: P1399681
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, 2013.)
Beginning: month/year
Month:
Year:
7
2012
(MMYYYY)
And ending: month/year
Month:
Year:
6
2013
(MMYYYY)
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
Don't know
(Explain in
(Explain in
box below)
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.
Institution: Gordon State College (139968)
User ID: P1399681
Part A - Statement of Financial Position
Fiscal Year: July 1, 2012 - June 30, 2013
If your institution is a parent institution then the amounts reported in Parts A and D should include ALL of your
child institutions
Line no.
Current year amount
01
Current Assets
Total current assets
31
Noncurrent Assets
Depreciable capital assets, net of depreciation
04
05
06
07
08
Other noncurrent assets
CV=[A05-A31]
Total noncurrent assets
09
Other current liabilities
CV=(A09-A07)
Total current liabilities
10
Noncurrent Liabilities
Long-term debt
11
12
13
Other noncurrent liabilities
CV=(A12-A10)
Total noncurrent liabilities
14,087,426
10,104,402
75,721,371
77,125,684
0
87,230,086
89,808,797
538,707
594,885
2,773,996
2,829,894
3,368,601
3,368,881
32,446,935
31,852,050
177,010
175,445
32,622,380
32,029,060
35,397,941
Total liabilities
CV=(A09+A12)
0
75,721,371
77,125,684
Total assets
CV=(A01+A05)
Current Liabilities
Long-term debt, current portion
Prior year amount
35,990,981
14
Net Assets
Invested in capital assets, net of related debt
15
Restricted-expendable
0
16
Restricted-nonexpendable
0
17
Unrestricted
CV=[A18-(A14+A15+A16)]
Total net assets
CV=(A06-A13)
18
42,735,729
44,678,749
7,153,396
11,082,087
51,832,145
53,817,816
You may use the space below to provide context for the data you've reported above.
Institution: Gordon State College (139968)
User ID: P1399681
Part A - Statement of Financial Position (Page 2)
Fiscal Year: July 1, 2012 - June 30, 2013
Line No. Description
Ending balance
Prior year
Ending balance
Capital Assets
21
Land and land improvements
22
Infrastructure
23
Buildings
32
Equipment, including art and library collections
27
Construction in progress
28
Total for Plant, Property and Equipment
CV = (A21+ .. A27)
Accumulated depreciation
33
Intangible assets, net of accumulated amortization
34
Other capital assets
2,281,843
2,281,843
2,656,305
2,656,305
54,981,274
58,270,212
8,082,964
8,892,512
0
431,357
72,532,229
30,684,048
68,002,386
27,558,518
0
35,277,503
You may use the space below to provide context for the data you've reported above.
35,277,503
Institution: Gordon State College (139968)
User ID: P1399681
Part E - Scholarships and Fellowships
Fiscal Year: July 1, 2012 - June 30, 2013
DO NOT REPORT FEDERAL DIRECT STUDENT LOANS (FDSL) ANYWHERE IN THIS SECTION
Line
No.
01
Source
02
Other federal grants (Do NOT include FDSL amounts)
03
Grants by state government
04
Grants by local government
05
Institutional grants from restricted resources
06
07
Institutional grants from unrestricted resources
CV=[E07-(E01+...+E05)]
Total gross scholarships and fellowships
08
Discounts and Allowances
Discounts and allowances applied to tuition and fees
09
10
11
Pell grants (federal)
Discounts and allowances applied to sales and services of
auxiliary enterprises
Total discounts and allowances
CV=(E08+E09)
Current year amount
Prior year
amount
11,892,086
9,781,761
119,647
115,739
1,805,380
1,790,504
0
0
162,312
0
13,817,113
11,850,316
6,725,977
5,736,937
1,614,326
1,793,453
Net scholarships and fellowships expenses after deducting
discounts and allowances
CV= (E07-E10) This amount will be carried forward to C10 of the
expense section.
You may use the space below to provide context for the data you've reported above.
0
7,530,390
8,340,303
4,319,926
5,476,810
Institution: Gordon State College (139968)
User ID: P1399681
Part B - Revenues and Other Additions
Fiscal Year: July 1, 2012 - June 30, 2013
Line No. Source of Funds
Operating Revenues
01
Tuition and fees, after deducting discounts & allowances
02
Grants and contracts - operating
Federal operating grants and contracts
03
State operating grants and contracts
04
Local government/private operating grants and contracts
04a Local government operating grants and contracts
Current year amount
Prior year amount
7,302,266
6,326,468
4,792
1,987
5,500
35,350
0
04b Private operating grants and contracts
05
26
Sales and services of auxiliary enterprises,
after deducting discounts and allowances
Sales and services of hospitals,
after deducting patient contractual allowances
Sales and services of educational activities
07
Independent operations
08
Other sources - operating
CV=[B09-(B01+ ....+B07)]
Total operating revenues
06
09
0
0
0
10,793,828
10,108,639
0
0
0
278,132
16,750,576
220,855
18,327,241
Institution: Gordon State College (139968)
User ID: P1399681
Part B - Revenues and Other Additions
Fiscal Year: July 1, 2012 - June 30, 2013
Line
No.
Source of funds
10
Nonoperating Revenues
Federal appropriations
11
State appropriations
12
Local appropriations, education district taxes, and similar support
14
Grants-nonoperating
Federal nonoperating grants Do NOT include Federal Direct
Student Loans
State nonoperating grants
15
Local government nonoperating grants
16
Gifts, including contributions from affiliated organizations
17
Investment income
18
Other nonoperating revenues
CV=[B19-(B10+...+B17)]
Total nonoperating revenues
13
19
27
28
29
Total operating and nonoperating revenues CV=[B19+B09]
12-month Student FTE from E12
Total operating and nonoperating revenues per student FTE
CV=[B27/B28]
Current year amount
Prior year
amount
306,985
10,130,649
11,367,744
0
12,126,751
10,034,231
0
0
246,947
382,077
146,007
67,877
1,238
430
22,957,769
21,853,167
38,603,743
3,336
11,572
41,285,010
3,761
10,977
Institution: Gordon State College (139968)
User ID: P1399681
Part B - Revenues and Other Additions
Fiscal Year: July 1, 2012 - June 30, 2013
Line No.
20
Source of funds
Other Revenues and Additions
Capital appropriations
21
Capital grants and gifts
22
Additions to permanent endowments
23
Other revenues and additions
CV=[B24-(B20+...+B22)]
Total other revenues and additions
24
25
Total all revenues and other additions
CV=[B09+B19+B24]
Current year amount
Prior year amount
0
1,427,130
277,284
0
0
0
1,427,130
277,284
38,881,027
You may use the space below to provide context for the data you've reported above.
42,712,140
Institution: Gordon State College (139968)
User ID: P1399681
Part C - Expenses and Other Deductions
Line Description
No.
Expenses and
Deductions
01 Instruction
Fiscal Year: July 1, 2012 - June 30, 2013
Report Total Operating AND Nonoperating Expenses in this section
2
3
4
5
Salaries and wages
Employee fringe benefits Operation and
Depreciation
maintenance of plant
1
Total amount
13,859,514
9,048,207
2,379,863
1,284,125
6
Interest
7
All
other
8
PY Total
Amount
984,920 13,784,528
162,399
02
Research
0
0
03
Public service
0
0
05
Academic support
292,540
1,770,837
06
Student services
465,502
2,306,104
07
Institutional support
1,091,828
4,391,334
08
0
0
4,319,926
5,476,810
11
Operation and
maintenance
of plant (see
instructions)
Scholarships and
fellowships
expenses, excluding
discounts and
allowances (from E11)
Auxiliary enterprises
12
Hospital services
0
0
13
Independent operations
0
0
14
2,773,735
0
Other expenses
and deductions
CV=[C19-(C01+...+C13)]
Total expenses and
40,866,698
15,384,309
4,606,003
deductions
Prior year amount
41,018,272
15,546,755
3,336
12-month Student FTE
from E12
12,250
Total expenses and
deductions per student
FTE CV=[C19/C20]
2,773,735
2,621,882
10
19
20
21
1,799,901
976,897
254,932
160,516
115,016
2,404,644
1,315,520
402,311
214,021
7,290
4,416,518
1,551,925
718,084
240,773
813,908
1,498,139
571,428
-2,675,261
605,694
0
4,319,926
11,292,460
993,621
279,385
You may use the space below to provide context for the data you've reported above.
775,826
1,431,440
0
0
0
4,271,376
6,470,445 10,666,777
1,341,743
0
3,135,747
0
16,398,896 41,018,272
1,341,743
2,620,131
1,582,933
16,997,077
3,761
10,906
Institution: Gordon State College (139968)
User ID: P1399681
Part D - Summary of Changes In Net Position
Fiscal Year: July 1, 2012 - June 30, 2013
Line No. Description
01
Total revenues and other additions (from B25)
Current year amount
Prior year amount
38,881,027
42,712,140
02
Total expenses and deductions (from C19)
40,866,698
41,018,272
03
Change in net position during year
CV=(D01-D02)
Net position beginning of year
-1,985,671
1,693,868
04
05
06
Adjustments to beginning net position and other gains or losses
CV=[D06-(D03+D04)]
Net position end of year (from A18)
52,082,608
53,817,816
0
41,340
51,832,145
53,817,816
You may use the space below to provide context for the data you've reported above.
Operating revenues decreased by ($1,576,665) in fiscal year 2013. This
decrease is attributable to the decrease in student enrollment of
approximately 12% leading to decreases in Tuition and Fees and Auxiliary
operating revenues.
Institution: Gordon State College (139968)
User ID: P1399681
Part H - Details of Endowment Assets
Fiscal Year: July 1, 2012 - June 30, 2013
Line Value of Endowment Assets
Market Value
No.
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
2,253,970
02
Value of endowment assets at the end of the fiscal year
2,344,661
You may use the space below to provide context for the data you've reported above.
Prior Year
Amounts
2,178,484
2,253,970
Institution: Gordon State College (139968)
User ID: P1399681
Part J - Revenue Data for Bureau of Census
Source and type
Total for all funds
and operations
(includes
endowment funds,
but excludes component
units)
(1)
12,063,405
01 Tuition and fees
12,006,412
02 Sales and
services
254,457
03 Federal
grants/contracts
(excludes Pell
Grants)
Revenue from the state government:
11,367,744
04 State
appropriations,
current &
capital
35,350
05 State grants
and contracts
Revenue from local governments:
0
06 Local
appropriation,
current &
capital
0
07 Local
government
grants/contracts
08 Receipts from
property and
non-property
taxes
09 Gifts and
private grants, 659,361
including capital
grants
10 Interest
67,877
earnings
11 Dividend
earnings
12 Realized capital
gains
Fiscal Year: July 1, 2012 - June 30, 2013
Amount
Education and
Auxiliary enterprises
general/independent
operations
(2)
(3)
12,063,405
11,902,092
104,320
254,457
11,367,744
35,350
You may use the space below to provide context for the data you've reported above.
Hospitals
Agriculture
extension/experiment
services
(4)
(5)
Institution: Gordon State College (139968)
User ID: P1399681
Part K - Expenditure Data for Bureau of Census
Category
01 Salaries and wages
Total for all funds and
operations (includes
endowment funds, but
excludes component units)
(1)
15,383,381
4,606,003
03 Payment to state
retirement funds (maybe
included in line 02
above)
04 Current expenditures
other than salaries
Capital outlay:
05 Construction
0
07 Land purchases
08 Interest on debt
1,341,743
outstanding, all funds
and activities
09 Scholarships/fellowships
(2)
(3)
993,621
14,389,760
02 Employee benefits, total
06 Equipment purchases
Fiscal Year: July 1, 2012 - June 30, 2013
Amount
Education and general/
Auxiliary enterprises
independent operations
279,385
4,326,618
19,534,643
11,632,758
7,901,885
791,206
2,929,090
3,720,296
819,765
819,765
0
11,850,316
11,850,316
You may use the space below to provide context for the data you've reported above.
Hospitals
Agriculture extension/
experiment services
(4)
(5)
Institution: Gordon State College (139968)
User ID: P1399681
Part L - Debt and Assets, page 1
Fiscal Year: July 1, 2012 - June 30, 2013
Debt
Category
Amount
01 Long-term debt outstanding at beginning of fiscal year
32,446,935
02 Long-term debt issued during fiscal year
03 Long-term debt retired during fiscal year
04 Long-term debt outstanding at end of fiscal year
05 Short-term debt outstanding at beginning of fiscal year
06 Short-term debt outstanding at end of fiscal year
You may use the space below to provide context for the data you've reported above.
Note 9 - Lease Obligations: Gordon State College (GSC) had two capital
leases with related entities in FY13. Two dorms, Gordon Commons and
Gordon Village with leases of $16,387,313 at 4.83 percent for 25 years
(Aug. 2005) and $18,890,190 at 4.708 percent for 30 years (Aug. 2009),
respectively. These capital leases have outstanding balances of
$13,421,233 and $19,025,702 at 6/30/2013, respectively.
31,852,050
538,707
594,885
Institution: Gordon State College (139968)
User ID: P1399681
Part L - Debt and Assets, page 2
Fiscal Year: July 1, 2012 - June 30, 2013
Assets
Category
07 Total cash and security assets held at end of fiscal year in sinking or debt service funds
Amount
08 Total cash and security assets held at end of fiscal year in bond funds
09 Total cash and security assets held at end of fiscal year in all other funds
You may use the space below to provide context for the data you've reported above.
8,845,730
Institution: Gordon State College (139968)
Summary
User ID: P1399681
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 Data Center and sent to your institution’s CEO in
November 2014.
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
Tuition and fees
Reported values
Percent of total core
revenues
Core revenues per FTE
enrollment
$6,326,468
22%
$1,896
Government appropriations
$11,367,744
40%
$3,408
Government grants and contracts
$10,071,568
35%
$3,019
$382,077
1%
$115
$67,877
0%
$20
Private gifts, grants, and contracts
Investment income
Other core revenues
$556,654
2%
$167
Total core revenues
$28,772,388
100%
$8,625
Total revenues
$38,881,027
$11,655
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
Instruction
Research
Public service
Reported values
Percent of total core
expenses
Core expenses per FTE
enrollment
$13,859,514
47%
$4,155
$0
0%
$0
$0
0%
$0
Academic support
$1,799,901
6%
$540
Institutional support
$4,416,518
15%
$1,324
Core Expenses
Student services
$2,404,644
8%
$721
Other core expenses
$7,093,661
24%
$2,126
Total core expenses
$29,574,238
100%
$8,865
Total expenses
$40,866,698
$12,250
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
3,336
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.
Institution: Gordon State College (139968)
Edit Report
Finance
User ID: P1399681
Gordon State College (139968)
Source
Screen: Expenses
Screen
Entry
Description
Severity
Resolved
The amount of depreciation expenses allocated to
Fatal
instruction on line 01 is outside the expected range of
between 313,575 and 2,195,022 compared to the total
depreciation expenditures reported across all functional
expense categories. Please correct your data or contact
the IPEDS Help Desk for assistance. (Error #5176)
Yes
Reason: Overridden by administrator. All interest is associated with student housing projects. ALB
Screen
Entry
The amount of interest expenses allocated to instruction Fatal
on line 01 is outside the expected range of between
134,175 and 939,220 compared to the total interest
expenditures reported across all functional expense
categories. Please correct your data or contact the
IPEDS Help Desk for assistance. (Error #5178)
Yes
Reason: Overridden by administrator. All interest is associated with student housing projects. ALB
Screen: Net Position
Perform
Edits
The calculated amount of change in net position during
the year in Part D (line 03) is expected to be greater
than zero. Please confirm that the data reported are
correct. (Error #5202)
Related Net Position
Screens:
Confirmation
Yes
Options