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UB strives to deliver centralized financial information and key reports to the campus community.
Annually, the University at Buffalo issues financial statements for the fiscal year ending June 30. These unaudited financial statements are compiled based on State University of New York (SUNY) campus level financial reports representing the operations for state and research foundation activities. Such reports are made available to the university between January and February. Financial Statement preparation occurs in the February/March time frame.
Financial statement schedules include a component unit presentation. Component Units include the campus related Foundation and the auxiliary service entity, Faculty-Student Association (dba Campus Dining and Shops).
As part of the State University of New York (SUNY), the university's financial information is also included in the complete SUNY financial statement which is part of SUNY's Annual Report.
As a premier research institute, the research portion of the university's financial information is also included in the complete Research Foundation (RF) financial statement which is part of RF's Annual Report.
The Foundation is a nonprofit organization responsible for the fiscal administration of revenues and support received for the promotion, development and advancement of the welfare of the university, and its students, faculty, staff and alumni. The Foundation receives the majority of its support and revenues through contributions, gifts and grants and provides benefits to its campus, students, faculty staff and alumni.
Campus Dining and Shops is a campus-based, legally separate, nonprofit organization that as an independent contractor operates, manages and promotes educationally related services for the benefit of the campus community.
Integrated Postsecondary Education Data System (IPEDS) is a system built around a series of interrelated surveys that collect institution-level data in areas including enrollments, program completions, graduation rates, faculty, staff, finances, institutional prices, and student financial aid.
The university’s financial IPEDS data is compiled by the State University of New York (SUNY) Controllers Office based on a timeline.
| Date | Task |
|---|---|
| June 30 | SUNY fiscal year end |
| October | SUNY financial statement audit completed |
| November-January | SUNY Controller’s office prepare campus level financial reports |
| February-March | SUNY Controller’s office compile/submit June 30th campus financial IPEDS data and distribute campus level reports. |
| April | Deadline for SUNY to submit campus Financial IPEDS data. |
The objective of the annual Overview of Financial Activities of the State University of New York at Buffalo (UB) is to provide UB’s leadership with a comprehensive high-level summary of financial information for the campus to assist with decision-making.
The Overview of Financial Activities report comprises two distinct sections: Core Operating Activities and Other Financial Highlights.
This section examines UB’s core financial operating activities, as defined by the university for the fiscal year ended June 30, 2021. Information is reported on a cash basis and represents the combination of activity occurring in the funding sources noted below.
Operating revenues received in 2020-21 totaled $810 million.
Figure 1
Figure 1 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
|---|---|---|---|---|---|
| Net Tuition | $286,089,364 | $290,099,416 | $302,914,608 | $306,505,752 | $302,901,043 |
| Student Fees | $79,791,032 | $81,701,985 | $90,692,962 | $93,499,630 | $102,104,546 |
| State Tax Dollar Support | $149,154,900 | $149,154,900 | $149,154,900 | $149,154,900 | $142,707,400 |
| Uwide support | $6,691,061 | $6,583,251 | $ - | $ - | $ - |
| Salary Recovery | $15,654,999 | $16,900,131 | $18,416,435 | $17,449,281 | $19,218,721 |
| Federal Indirect Cost Recovery | $35,683,439 | $33,209,044 | $45,920,501 | $48,007,035 | $42,059,840 |
| State Grants and Contracts | $61,118 | $89,957 | $814,096 | $51 | $19,095 |
| Private Sources and Gifts | $22,613,224 | $21,689,823 | $18,680,450 | $13,362,506 | $11,637,512 |
| Investment Income | $28,699,951 | $30,023,945 | $50,738,332 | $67,328,208 | $38,228,991 |
| Other Income | $46,311,734 | $65,441,160 | $107,195,681 | $71,893,683 | $91,823,916 |
| Auxiliary Income | $57,347,891 | $42,651,890 | $49,390,174 | $41,802,908 | $40,848,354 |
| Hospital and Clinical Revenue | $14,955,603 | $14,476,660 | $15,398,626 | $16,757,575 | $18,680,053 |
Operating expenses of $731 million for 2020-21 are displayed according to functional classification.
Figure 2
Figure 2 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
|---|---|---|---|---|---|
| Instruction | $292,502,243 | $294,963,737 | $319,868,517 | $295,185,367 | $282,941,209 |
| Research | $39,537,605 | $42,975,067 | $46,233,204 | $46,670,377 | $52,770,474 |
| Public Service | $2,982,851 | $3,099,781 | $2,511,371 | $3,177,241 | $1,396,023 |
| Academic Support | $86,469,673 | $75,308,101 | $76,115,576 | $86,862,039 | $76,386,375 |
| Student Services | $38,316,567 | $35,870,963 | $37,284,141 | $36,013,388 | $46,469,991 |
| Institutional Support | $72,295,259 | $88,055,327 | $66,284,084 | $75,372,442 | $48,512,130 |
| Operation and Maintenance of Plant | $62,927,155 | $65,810,403 | $70,036,684 | $68,936,886 | $70,654,963 |
| Scholarships and Fellowships | $40,814,461 | $43,947,412 | $58,560,223 | $58,770,468 | $60,285,556 |
| Hospitals and Clinics | $8,152,591 | $7,148,910 | $8,949,562 | $12,817,269 | $14,533,990 |
| Residence Halls | $53,389,142 | $43,651,487 | $43,074,824 | $41,183,234 | $39,375,702 |
| Intercollegiate Athletics | $21,909,382 | $21,928,568 | $25,604,144 | $22,751,092 | $19,112,111 |
| Other Auxiliaries | $17,013,477 | $16,607,284 | $21,069,663 | $20,937,635 | $19,033,469 |
UB receives state appropriation to support its core operating budget from a combination of state tax dollar support and revenues from tuition and certain other sources (campus-retained revenues). The university needs to receive both appropriation and cash to support the total state appropriation budget.
State tax dollar support is categorized as support for the base budget, salary and utilities funding. This analysis excludes appropriation provided by the state for employee fringe benefit costs and debt service (as applicable), which are funded and paid directly by the state.
Campus-retained revenues collected by UB are required to be transmitted to the state in return for state appropriation. These revenues include tuition, college fees and interest collections.
Figure 3
Figure 3 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
|---|---|---|---|---|---|
| Campus Revenue: Tuition Revenue | $282,804 | $293,582 | $295,570 | $317,223 | $277,088 |
| Campus Revenue: Interest | $225 | $750 | $1,700 | $4,000 | $3,750 |
| Campus Revenue: College Fee | $3,100 | $3,200 | $3,300 | $3,500 | $2,700 |
| State Support: Base Budget | $123,935 | $123,935 | $124,490 | $124,490 | $118,043 |
| State Support: Utilities Funding | $25,220 | $25,220 | $24,665 | $24,665 | $24,665 |
Figure 4
Figure 4 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
|---|---|---|---|---|---|
| State Support | $149,155 | $149,155 | $149,155 | $149,155 | $142,708* |
| Campus Revenue | $286,129 | $297,532 | $300,570 | $324,726 | $283,538 |
*State tax support of $6,447,500 was not received due to state support reduction.
In addition to state appropriations received to support UB’s core operating budget, UB receives appropriations earmarked for specific purposes. Prior to 2018-19, a portion of the university-wide appropriation received was included in the UB cost center. Beginning with 2018-19, all university-wide program resources are provided to UB via sub-allocation in the university-wide program’s cost center.
Figure 5
Figure 5 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21*** | |
|---|---|---|---|---|---|
| Graduate Tuition Support* | $9,927 | $9,927 | $0 | $0 | $0 |
| Educational Opportunity Center (EOC) | $5,136 | $5,026 | $5,134 | $6,113 | $5,266 |
| Educational Opportunity Program (EOP) | $3,460 | $3,111 | $3,156 | $2,711 | $2,042 |
| Miscellaneous** | $1,437 | $4,110 | $10,594 | $4,789 | $3,490 |
| Banking Services | $2,950 | $3,200 | $3,200 | $3,500 | $3,500 |
| Underrepresented Graduate Fellowships | $1,453 | $1,461 | $1,430 | $1,430 | $1,359 |
| Academic Equipment Replacement | $626 | $626 | $626 | $626 | $594 |
| Strategic Partnership for Industrial Resurgence (SPIR) | $621 | $621 | $621 | $621 | $367 |
* Starting in 2018-19, Graduate Tuition Support became an adjustment to revenue offset, part of our overall revenue projections.
** The increase in 2018-19 Miscellaneous U-Wide Programs Appropriations was due to increases in the Foster Youth – Educational Opportunity Program, Foster Youth – Non-Educational Opportunity Program and Empire Innovation Program.
*** Due to COVID-19, spending was restricted and budgets were cut for 2020-21.
In addition to the $334.7 million in tuition revenue for undergraduate, graduate and professional programs, UB collects tuition revenues from overseas academic programs (OAP), summer session, winter session and contract courses that are excluded from this tuition analysis. As mandated by SUNY, tuition revenues for OAP, summer and winter sessions, and contract courses are reported separately from regular academic-year tuition.
Figure 6
Figure 6 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
|---|---|---|---|---|---|
| Domestic In-State | $209,118,258 | $220,419,734 | $231,595,125 | $243,460,878 | $249,798,250 |
| International | $89,253,792 | $83,849,241 | $85,054,426 | $82,033,225 | $67,266,554 |
| Domestic Out-of-State | $14,641,837 | $13,917,417 | $14,619,925 | $14,609,981 | $17,679,437 |
Figure 7
Figure 7 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
|---|---|---|---|---|---|
| Domestic In-State | 23,107 | 23,650 | 24,488 | 25,246 | 26,206 |
| International | 6,322 | 6,291 | 6,235 | 5,900 | 5,202 |
| Domestic Out-of-State | 754 | 707 | 780 | 777 | 939 |
Figure 8
Figure 8 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
|---|---|---|---|---|---|
| Undergraduate | $6,470 | $6,670 | $6,870 | $7,070 | $7,070 |
| Graduate | $10,870 | $10,870 | $11,090 | $11,310 | $11,310 |
| Medical | $40,160 | $41,770 | $43,020 | $43,670 | $43,670 |
| Dental | $34,440 | $35,130 | $35,830 | $36,900 | $36,900 |
| Law | $25,410 | $25,410 | $25,410 | $25,410 | $25,410 |
| Pharmacy | $25,140 | $25,840 | $26,450 | $26,450 | $26,450 |
| MBA | $14,410 | $14,700 | $14,850 | $15,000 | $15,000 |
| Physical Therapy | $24,390 | $24,390 | $24,390 | $24,390 | $24,390 |
Figure 9
Figure 9 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
|---|---|---|---|---|---|
| Undergraduate | $23,710 | $24,180 | $24,540 | $24,740 | $24,740 |
| Graduate | $22,210 | $22,210 | $22,650 | $23,100 | $23,100 |
| Medical | $65,160 | $65,160 | $65,160 | $65,160 | $65,160 |
| Dental | $62,950 | $62,950 | $62,950 | $62,950 | $62,950 |
| Law | $42,680 | $29,500 | $29,500 | $29,500 | $29,500 |
| Pharmacy | $46,730 | $36,450 | $37,140 | $37,140 | $37,140 |
| MBA | $24,390 | $24,390 | $24,390 | $24,390 | $24,390 |
| Physical Therapy | $40,930 | $30,700 | $30,700 | $30,700 | $30,700 |
The comprehensive fee is a consolidation of campus-required fees paid by students attending UB unless they meet waiver requirements. The components of the comprehensive fee are: athletics (undergraduate day students only), campus life, college, recreation (was included in athletics fee prior to 2016-17), student health, technology, transcript and transportation. The college fee component is excluded from the Comprehensive Fee Revenue chart because funding collected is transferred to the state and provided to the university as state appropriation. Additional information on the comprehensive fee can be found on UB’s Student Accounts Webpage – Comprehensive Fee.
Figure 10
Figure 10 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
|---|---|---|---|---|---|
| Technology | $781 | $797 | $812 | $836 | $860 |
| Athletics | $501 | $511 | $521 | $532 | $479 |
| Student Health | $368 | $375 | $399 | $413 | $439 |
| Transportation | $456 | $465 | $475 | $485 | $424 |
| Campus Life | $234 | $239 | $250 | $257 | $265 |
| College | $125 | $125 | $125 | $125 | $125 |
| Career Services | $0 | $0 | $0 | $0 | $50 |
| Recreation | $44 | $52 | $54 | $54 | $54 |
| Transcript | $10 | $10 | $10 | $10 | $10 |
Figure 11
Figure 11 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
|---|---|---|---|---|---|
| Technology | $20,672,111 | $21,269,564 | $22,632,994 | $23,811,266 | $24,365,399 |
| Athletics | $8,981,925 | $9,233,325 | $9,835,073 | $9,290,959 | $9,148,721 |
| Student Health | $9,450,545 | $9,566,429 | $10,396,051 | $10,785,112 | $11,614,348 |
| Transportation | $11,237,367 | $11,449,652 | $11,957,609 | $9,458,283 | $10,900,390 |
| Campus Life | $6,018,899 | $6,103,696 | $6,527,476 | $5,574,505 | $6,967,052 |
| College | $0 | $0 | $0 | $0 | $0 |
| Recreation | $785,256 | $943,016 | $1,001,539 | $795,285 | $1,029,048 |
| Career Services | $0 | $0 | $0 | $0 | $1,044,646 |
| Transcript | $299,923 | $303,708 | $317,878 | $324,867 | $325,204 |
Comprehensive fee revenue for prior years was updated due to change in GUSF reporting.
Combined revenue from residence halls and apartments is the largest component of auxiliary enterprises operating revenue. Other activity reported in auxiliary enterprises revenue includes sales and services, campus store operations, intercollegiate athletics and transportation.
Revenue from residence halls is accounted for in Dormitory Income Fund Reimbursable (DIFR) state accounts, along with interest and investment income. Revenue from on-campus apartment rentals is administered through the University at Buffalo Foundation Faculty-Student Housing Corporation. Residence hall and apartment revenue must be spent on dorm operations. UB offers a wide variety of on-campus housing options at various costs that are designed around the needs of the students.
Figure 12
Figure 12 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21** | |
|---|---|---|---|---|---|
| Average Residence Hall Rates (DIFR) | $7,349 | $7,570 | $7,797 | $8,031 | $8,459 |
| Average Apartment Rates (UBF)* | $8,962 | $9,107 | $10,150 | $10,436 | $10,208 |
Figure 13
Figure 13 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
|---|---|---|---|---|---|
| Residence Hall Revenue (DIFR) | $42,152,612 | $43,242,301 | $44,830,129 | $36,265,559 | $38,701,077 |
| Apartment Revenue (UBF)* | $24,404,000 | $25,390,000 | $27,026,000 | $23,687,000 | $20,416,709 |
* Apartment Revenue (UBF) and Average Apartment Rates (UBF) contain revenue and rates for Greiner Hall, which is a UBF-owned residence hall.
** 2020-21 Rates were adjusted to reflect actual occupancy nights due to COVID-19.
Various activities conducted at UB produce revenues that are used to enhance UB’s operations. The revenues are accounted for in Income Fund Reimbursable (IFR) accounts, State University Tuition Reimbursable accounts (SUTRA), UB Foundation (UBF) and Research Foundation (RF) through June 30, 2021.
These activities are grouped into five categories:
Sales and services revenue generating activities include rentals (excluding housing), continuing education, dental clinics, student health insurance, student orientation, inventions and licenses.
Activity revenues received by campus units in 2020-21 totaled $436.3 million. Investment income growth during this reporting period is attributed to favorable market fluctuations that occurred as a result of investment market volatility during the global pandemic.
Figure 14
Figure 14 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
|---|---|---|---|---|---|
| Sales and Services | $68,572,704 | $77,889,722 | $70,516,022 | $69,215,816 | $65,144,828 |
| Other Student Fees | $23,277,425 | $23,777,929 | $24,871,617 | $29,708,864 | $30,351,712 |
| RF Salary Recovery | $15,654,999 | $16,900,131 | $18,416,435 | $17,449,281 | $19,218,721 |
| Investment Income | $16,731,406 | $20,802,772 | $10,838,841 | $11,830,059 | $318,217,306 |
| Other Misc. Revenue | $2,145,988 | $3,407,379 | $4,403,873 | $2,288,402 | $3,416,142 |
Sponsored research programs generate two types of costs: direct costs and F&A costs (indirect costs). The indirect cost rate is calculated and assessed according to federal cost accounting standards. The calculated amount is recovered by UB and is used to support decanal units, several administrative units, research incentive programs and various other financial commitments, and to cover an annual administrative assessment by the Research Foundation (RF).
Net F&A cost recovery collected in 2020-21 was $40.2 million, which was $7.3 million or 22% higher than the $32.9 million earned in 2016-17. Reasons for the considerable increase in indirect costs from 2016-17 were:
The F&A cost recovery represents the amount earned rather than received as reported in Federal Grants and Contracts in UB’s Operating Revenues. In 2020-21, RF advanced UB $29.6 million for 2020-21 for 80% of initial estimated indirect earnings, along with $12.4 million which included investment funding of $5.7 million for the remaining 2019-20 balance. RF will pay the 2020-21 balance of $10.6 million plus earned investment income to UB in 2021-22.
Figure 15
Figure 15 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
|---|---|---|---|---|---|
| RF Assessment | $5,547,536 | $5,235,043 | $4,734,960 | $4,927,568 | $4,562,616 |
| Net | $32,878,837 | $35,178,692 | $37,661,856 | $37,516,089 | $40,231,469 |
| Gross | $38,426,373 | $40,413,735 | $42,396,816 | $42,443,657 | $44,794,085 |
This section reports on other financial activities within and outside of UB’s core operating activities. Analysis includes:
UB Foundation’s (UBF’s) endowment consists of 1,437 individual funds established for a variety of purposes, including both donor-restricted endowment funds and funds designated by UBF’s board of trustees to function as endowments. The endowment is managed as part of UBF’s long-term portfolio (‘LTP’) under the supervision of the UBF board’s investment committee. The primary investment objectives are to preserve the inflation-adjusted purchasing power of the LTP, including the endowment, and maintain spending support of UB’s educational initiatives. A professional, independent investment advisor assists in the administration of the LTP, with performance monitored by the investment committee. UBF targets a diversified asset allocation that offers a high probability of achieving the investment objectives commensurate with acceptable risk parameters.
| Year | Beginning Market Value | Contributions | Investment Return | Spending | Other Adjustments | Ending Market Value |
|---|---|---|---|---|---|---|
2020-21 | $788,910 | $14,013 | $243,427 | ($37,902) | $11,605 | $1,020,053 |
2019-20 | $797,895 | $10,767 | $9,708 | ($33,756) | $4,296 | $788,910 |
2018-19 | $725,000 | $9,326 | $40,197 | ($31,747) | $55,125 | $797,895 |
2017-18 | $659,156 | $21,133 | $62,925 | ($30,300) | $12,085 | $725,000 |
2016-17 | $600,961 | $9,820 | $77,368 | ($29,563) | $570 | $659,156 |
Figure 16
Figure 16 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
|---|---|---|---|---|---|
| Investment Return | 13.10% | 9.10% | 5.90% | 0.30% | 25.00% |
Figure 17
Figure 17 is a pie chart that can be shown in the following table.
| Endowment Asset Allocation | |
|---|---|
| Alternative Investments | 45.40% |
| Cash | 0.80% |
| Fixed Income | 11.40% |
| International Equity | 17.80% |
| Domestic Equity | 24.60% |
Figure 18
Figure 18 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
|---|---|---|---|---|---|
| Alternative Investments | $284,755 | $315,375 | $379,798 | $340,809 | $463,104 |
| Cash | $1,978 | $3,625 | $3,192 | $24,456 | $8,160 |
| Fixed Income | $69,871 | $94,250 | $76,598 | $103,347 | $116,286 |
| International Equity | $165,448 | $172,550 | $153,196 | $150,682 | $181,569 |
| Domestic Equity | $137,104 | $139,200 | $185,112 | $169,616 | $250,933 |
As part of their service to UB, the University at Buffalo Foundation (UBF) administers salary and fringe benefit payments for non-UBF employees utilizing UBF funding sources. For the fiscal year ending June 30, 2021, approximately 1,200 individuals received through UBF University-related non-employee salary of $19.7 million and fringe benefits of $6.3 million for a total cost of $26 million. These costs represent 80% of the non-employee salary and fringe expenses reported on the UB Foundation 990. Payments funded with UB Foundation restricted (e.g., donor imposed restricted gifts and endowments, practice plan dean’s tax, etc.) and unrestricted resources (e.g., unrestricted departmental or decanal gifts, department program revenue and other unrestricted UBF sources) are primarily related to the following expense categories:
| Expense Categories | Salary Cost | Percentage of Total Salary Costs |
|---|---|---|
| Practice Plan Salary Support | $5.3 | 27% |
| Medical and Dental Clinical Staffing | ||
| Program Revenue | ||
| Research, Development and Summer Support | $4.8 | 24% |
| Advancement and Communications | $4.7 | 24% |
| Educational, Non-credit Bearing Courses, Workshops and Support | $2.0 | 10% |
| Salary Supplement to State Appointment | $1.6 | 8% |
| Academic Staff Support | $1.0 | 5% |
| Other (student and resident education, training and support services; non-academic unit support; legal counsel and compliance; technical support services; award, reimbursement and cell phone stipend) | $0.3 | 2% |
| Total | $19.7 | 100% |
Research, Development and Summer Support represented the largest count of individuals receiving payment at 327 for an average payment per individual of $14,700.
Salary supplement to state appointment is a payment received in addition to an individual’s base salary appointment. Salary supplements or market rate adjustments are the result of an individual job or specific group of jobs where market pressures would otherwise prevent the University from being able to recruit or retain staff of a particular skill or group of skills. For the fiscal year ending June 30, 2021, the following individuals received a salary supplement to their state appointment:
| Name | Payroll Amount | Funding VP/Decanal Unit | Funding Department | Fund Name |
|---|---|---|---|---|
| BANGS, JAMES D | $19,615 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | ELLIS - JACOBS SCHOOL OF MEDICINE FUND |
| BEAKMAN, KATHERINE EARL | $2,508 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | CHARLES GORDON HEYD MEDICAL RESOURCE FUND |
| CAIN, MICHAEL E | $223,631 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | DEAN'S FUND (PRACTICE PLAN) II |
| CAIN, MICHAEL E | $84,177 | Health Sciences | Health Sciences | VICE PRESIDENT HEALTH SCIENCES FUND |
| CHANG, YU-PING | $9,808 | School of Nursing | SON Dean's Office | PATRICIA H. AND RICHARD E. GARMAN PROFESSORSHIP |
| CHAUDHURI, AJAY | $10,581 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | DEAN'S FUND (PRACTICE PLAN) II |
| CHAUDHURI, AJAY | $25,093 | Jacobs School of Medicine and Biomedical Sciences | Medicine Department | CHARLES D. BAUER, M.D. AND MARY A. BAUER CHAIR IN MEDICINE |
| CHEVLI, K. KENT | $49,039 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | DEAN'S FUND (PRACTICE PLAN) II |
| CURTIS, ANNE B | $14,000 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | DEAN'S FUND (PRACTICE PLAN) II |
| CURTIS, ANNE B | $24,462 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | SCHAEFER FUND IN CARDIOVASCULAR DISEASE |
| ELKIN, PETER L | $66,692 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | DEAN'S FUND (PRACTICE PLAN) II |
| KAUFFMAN, ANNE KATHRYN MARIE | $21,577 | School of Dental Medicine | SDM Oral Biology | ORAL BIOLOGY FACULTY FUND |
| KWIATKOWSKI, ALYSIA VICTORIA | $23,558 | Jacobs School of Medicine and Biomedical Sciences | Medicine Department | CHARLES D. BAUER, M.D. AND MARY A. BAUER CHAIR IN MEDICINE |
| LEVY, ELAD I | $49,038 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | DEAN'S FUND (PRACTICE PLAN) II |
| LIPSHULTZ, STEVEN E | $76,991 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | DEAN'S FUND (PRACTICE PLAN) II |
| MAYNARD, JAMES L | $2,082 | Provost | Distinctive Collections | ROBERT J. BERTHOLF ENDOWMENT FUND - CURATOR'S SALARY |
| MCCORMACK, ROBERT F | $49,039 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | DEAN'S FUND (PRACTICE PLAN) II |
| MEKA, JENNIFER A | $58,846 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | GEORGE M. ELLIS, JR., M.D. ENDOWMENT FUND FOR MEDICINE |
| METCALFE, ELIZABETH ANNE MARSHALL | $9,808 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | BEVERLY PETTERSON BISHOP & CHARLES W. BISHOP NEUROSCIENCE |
| MURPHY, TIMOTHY F. | $29,423 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | ELLIS - JACOBS SCHOOL OF MEDICINE FUND |
| NOYES, EKATERINA IVANOVNA | $19,616 | Jacobs School of Medicine and Biomedical Sciences | Surgery | SURGICAL OUTCOMES RESEARCH CENTER |
| PILI, ROBERTO | $64,296 | Jacobs School of Medicine and Biomedical Sciences | Medicine Department | RICHARD E. WAHLE RESEARCH FUND |
| PRESCOTT, GINA M | $2,942 | School of Pharmacy and Pharmaceutical Sciences | SPPS Dean's Office | PARTICIPATING FUND FOR PHARMACEUTICAL EDUCATION |
| PUGLIESE, MARTIN C | $5,615 | Jacobs School of Medicine and Biomedical Sciences | Physiology and Biophysics Department | PHYSIOLOGY & BIOPHYSICS RESOURCE FUND |
| QUIGG, RICHARD J | $9,808 | Jacobs School of Medicine and Biomedical Sciences | Biomedical Informatics Department | CLINICAL INFORMATICS FELLOWS SUPPORT FUND |
| SAJJAD, MUNAWWAR | $45,277 | Jacobs School of Medicine and Biomedical Sciences | Nuclear Medicine Department | NUCLEAR MEDICINE EDUCATION AND RESEARCH SUPPORT FUND |
| SCHWAITZBERG, STEVEN DAVID | $19,615 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | DEAN'S FUND (PRACTICE PLAN) II |
| SCHWESER, FERDINAND | $64,976 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | ELLIS - JACOBS SCHOOL OF MEDICINE FUND |
| SHIBLY, OTHMAN | $31,679 | School of Dental Medicine | SDM Periodontics and Endodontics | INTERNATIONAL SCHOLARS - COORDINATORS FUND |
| SHISLER, ELIZABETH M | $6,868 | Jacobs School of Medicine and Biomedical Sciences | Neurosurgery Department | NEUROSURGERY RESEARCH FUND |
| SIM, FRASER J | $9,808 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | ELLIS - JACOBS SCHOOL OF MEDICINE FUND |
| TAYLOR, RACHEL MARIE | $3,923 | Jacobs School of Medicine and Biomedical Sciences | Radiology Department | ALFRED H. DOBRAK, M.D. RADIOLOGY LECTURE FUND |
| TOMASZEWSKI, JOHN E | $29,423 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | DEAN'S FUND (PRACTICE PLAN) II |
| TRAVAGLIATO, CHARLES SEBASTIAN | $5,102 | School of Dental Medicine | SDM Restorative Dentistry Department | INTERNATIONAL SCHOLARS - AEGD |
| TRIPATHI, SATISH | $291,500 | President | OTP Administrative Operations | UNIVERSITY SUPPORT PROGRAMS - OTHER |
| ULLMAN, LORI E | $32,750 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | DEAN'S FUND (PRACTICE PLAN) II |
| WILKINS, DIANA G | $14,712 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | PRIMARY CARE EDUCATIONAL SUPPORT FUND |
| WOLFE, GIL I MD | $78,461 | Jacobs School of Medicine and Biomedical Sciences | JSMBS Dean's Office | DEAN'S FUND (PRACTICE PLAN) II |
| YAO, RUTAO | $31,924 | Jacobs School of Medicine and Biomedical Sciences | Nuclear Medicine Department | NUCLEAR MEDICINE EDUCATION AND RESEARCH SUPPORT FUND |
| Total | $1,618,263 |
*The remaining 20% of non-employee salary and fringe expenses reported on the UB Foundation 990 represent fringe benefits costs, UDSMR activity and payroll accounting accruals.
UB has entered into agreements to finance various capital facilities or large equipment purchases. Long-term debt outstanding at June 30, 2021, along with the current principal due in 2021-22 that will be paid by operating dollars as follows:
| Long-term debt | Maturity Date | Interest Rate | Balance on 6/30/21 | Principal Due 2021-2 |
|---|---|---|---|---|
| State | ||||
NYPA Phase II – Loan #6860 payable from state funds in monthly installments of $30.50 including interest. | January 2022 | Variable | $182 | $182 |
NYPA Phase III – Loan #9455 payable from state funds in monthly installments of $40.30 including interest. | March 2025 | Variable | $1,702 | $449 |
Empire State Development Corporation bonds (Jacob School of Medicine and Biomedical Sciences building) payable from state funds in annual installments of $12,000 including interest. | April 2052 | Adjusted Annually 0.38%-5% | $203,927 | $3,655 |
Dorm Rehabilitation Projects through Dormitory Authority of the State of New York (DASNY) bond or revolving loans, payable from state Dormitory Income Funds Reimbursable funds | June 2031 | Variable | $28,616 | $4,176 |
| University at Buffalo Foundation | ||||
Village of Kenmore Housing Authority bonds payable in monthly installments of $47,516 through 2028, including interest at 4.95%, net of unamortized debt issuance costs of $99,657 in 2021 (Flickinger Bonds). | January 2028 | 4.95% | $3,191 | $420 |
Town of Amherst Development Corporation bonds payable in annual principal installments that escalate through maturity in October 2035 plus variable rate interest, net of amortized debt issuance costs of $555,971 in 2021 (South Lake Village Replacement Bonds). | October 2035 | Variable | $18,075 | $790 |
Town of Amherst Development Corporation bonds payable in monthly principal installments that escalate through maturity in August 2042 plus variable rate interest, net of unamortized debt issuance costs of $678,006 in 2021 (Flint Village and Creekside Village Refunding Bonds). | August 2042 | Variable | $25,430 | $900 |
Town of Amherst Development Corporation bonds payable in monthly principal installments that escalate through maturity in October 2045 plus variable interest ranging from 3.00% to 5.00% adjusted annually, net of amortized debt issuance costs of $1,393,161 and inclusive of unamortized premium of $4,199,207 in 2021 (Greiner Hall and Hadley Village Refunding Bonds). | October 2045 | Adjusted Annually 3%-5% | $58,420 | $2,425 |
Total Debt Obligations |
|
| $339,543 | $12,997 |
A General University Service Fee (GUSF) of 13% is charged on external revenues that are deposited into State Income Fund Reimbursable (IFR), University at Buffalo Foundation (UBF), Research Foundation (RF) and Campus Dining & Shops (CDS) accounts (CDS balances transferred to IFR in 2016-17). GUSF revenue is a component of the university’s Financial Plan. Funds are committed through the Annual Resource Planning Process (ARPP).
Certain external revenue is subject to other fees. GUSF is not assessed on the following types of revenue as this could result in a fee that is assessed twice:
Figure 19
Figure 19 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
|---|---|---|---|---|---|
| State IFR | $15,997 | $15,995 | $17,017 | $16,926 | $17,327 |
| Component Units* | $3,825 | $4,212 | $3,360 | $3,359 | $2,830 |
| RF | $144 | $111 | $225 | $105 | $189 |
* Component Units include UB Foundation and Auxiliary (CDS).
UB is a research-intensive public university that administers its sponsored research grants and contracts through the SUNY Research Foundation. Grants and contracts are funded through both public and private organizations.
Each year the National Science Foundation (NSF) conducts a survey of research and development expenditures at colleges and universities across the country. Expenditures reported in this survey include not only externally funded research, but also research supported by various institutional funds and research conducted by UB faculty at affiliated institutions (CUBRC, Inc., Hauptman-Woodward Medical Research Institute, Kaleida Health and Roswell Park Comprehensive Cancer Center). The total expenditures for 2020-21 reported to NSF were $425.3 million.
Expenditure activity for the university in 2020-21 was $188.6 million.
Figure 20
Figure 20 is a bar graph that can be shown in the following table.
| 2016-17 | 2017-18 | 2018-19 | 2019-20 | 2020-21 | |
|---|---|---|---|---|---|
| Federal | $98,673 | $105,137 | $109,838 | $111,969 | $115,465 |
| State and Local | $22,856 | $19,073 | $16,459 | $18,631 | $22,919 |
| Industry | $9,756 | $12,755 | $12,695 | $11,297 | $10,984 |
| Other | $32,968 | $33,440 | $39,472 | $36,431 | $39,226 |