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Reconciliation of Administrative Fee Expenditures
Years ended June 30, 2011 and 2010
(unaudited)
2011
2010
Total RFCO expenditures from operating budget
$20,979,279
19,995,769
Total ARRA expenses
—
44,824
Less income used to offset expenditures:
PSC-CUNY
(282,422)
(362,296)
Direct fees
(605,394)
(719,223)
Summer salary and fringe benefit reimbursement to UAO
(1,150,752)
—
Administrative fee from RF affiliates
(1,752,000)
(1,597,000)
Other
(458)
(2,750)
Add: Other administrative fee not included in RFCO funding
(3,791,026)
(2,681,269)
LLC payment of personnel costs—building manager
(154,517)
(148,624)
17,033,736
17,210,700
Total RF central office expenditures funded from administrative fees plus reserve fund allocations:
Central allocation budget reserve
2,128,000
2,166,112
University-wide insurance
772,708
688,720
Contingency fund reserve
100,000
100,000
Employee termination reserve
100,000
100,000
Reserve for pre-employment background checks
300,710
200,000
Off-site recovery reserve
25,000
25,000
HR/Payroll application replacement
400,000
100,000
Foundation working capital reserve
750,000
750,000
Pre-Award initiative reserve
100,000
100,000
Legal reserve
300,000
350,000
Field union settlement
75,573
—
5,051,991
4,579,832
Computed amount of administrative fee expenditures
22,085,727
21,790,532
Amount reported as administrative fee expenditures
22,085,727
21,790,532
Variance
$
0
0
The Research Foundation of the City University of New York
The Research Foundation of The City University of New York