REVENUE

FY 2024 Actuals vs. FY 2024 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 2024 Actuals vs. FY 2024 Operating Budget

These charts compare actual funding and budgeted funding across the institution during FY 2024, showing total actuals of $4.2B versus a $4.4B operating budget. The most notable variance appears in Total Hospital Revenue, which at $1,978.7M is approximately $206.6M less than the budgeted $2,185.3M. Self-Sustaining Operations also showed a difference, coming in at $550.6M versus the budgeted $548.9M, representing a positive variance of $1.7M. 

Total Clinical Practice revenue exceeded budget by $11.2M ($799.8M actual vs $788.6M budgeted), while State Tax Support came in higher at $199.1M compared to the budgeted $171.8M, a positive variance of $27.3M due to one-time state support for mandatory contractual salary increases. Research funding slightly underperformed with actuals of $343.5M versus $349.3M budgeted, a negative variance of $5.8M. Tuition revenue was slightly higher than planned at $293.0M versus $292.8M budgeted. The Veterans Home Revenue showed a positive variance of $2.7M ($69.6M actual vs $66.9M budgeted). In total, the institution's actual revenue fell short of the operating budget by approximately $200M, primarily driven by the shortfall in Hospital Revenue, though partially offset by positive variances in other areas.

ACADEMIC & RESEARCH ENTERPRISE SOURCE OF FUNDS

FY 2024 Actuals vs. FY 2024 Operating Budget

Actual funding for Academic & Research Enterprise operations totaled $1.4B, which exceeded the operating budget by $22.7M. State Tax Support reached $199.1M, surpassing the budgeted amount of $171.8M by $27.3M. The budget figure of $171.8 reflects a  historic boost in State operating aid of $24.1M, the first base increase SBU has received in over a decade. The additional $27.3M in actual State Tax Support funding consists mostly of one-time aid for contractual salary increases.  The all-funds costs were approximately $60M. SBF Agency Funds exceeded budget projections by $26.2M, primarily due to unanticipated New York Climate Exchange funding and additional cancer center agency funds that were not known during budget planning. Research funding actuals of $343.5M, came in close to the budgeted $349.3M. The positive variance in revenue was partially offset by variations in other funding sources, including IFR & SUTRA  activities which came in $23.9M below budget, while Dormitory revenue exceeded budget by $5.8M.

HOSPITAL AND CLINIC PRACTICES SOURCE OF FUNDS

FY 2024 Actuals vs. FY 2024 Operating Budget

These charts compare actual funding and budgeted funding across the healthcare enterprise during FY 2024, with total actuals of $2.8B versus a $3.0B operating budget. The most significant component in both charts is Hospital Net Patient Revenue, representing $1,587.1M (55.7%) in actuals versus $1,843.4M (60.6%) in the budget - reflecting some variations in projected versus realized patient service volume. Clinical Practice Revenue shows actuals of $799.8M (28.5%) compared to a budget of $788.6M (25.9%), indicating a slight overperformance in this area. Hospital Government Payments were $331.7M (11.6%) in actuals versus $341.2M (11.2%) budgeted, while Hospital Other Revenue came in at $59.9M (2.1%) compared to a minimal budget allocation of $0.6M. The Veterans Home segment shows actual revenue and government payments totaling $69.6M (2.5%) versus $66.9M (2.2%) in the budget. Overall, these figures suggest that while some areas exceeded expectations, particularly Clinical Practice Revenue and Hospital Other Revenue, the enterprise experienced lower-than-projected total revenue primarily due to differences in Hospital Net Patient Revenue realization.  The Hospital offsets this revenue gap with lower than expected costs; this is illustrated in the Expenses section. 

Note: The figures in this report reflect the operating budget as of September 2023 and Actuals as of  September 2024. This website has been updated as of March 2025. 

EXPENSES

FY 2024 Actuals vs. FY 2024 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 expenses do not include the portions of our state support costs 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.

COSTS BY DIVISION

FY 2024 Actuals vs. FY 2024 Operating Budget

These charts compare actual expenditures and budgeted costs across the institution during the FY 2024. The total actual spending of $4.0B was $400M less than the budgeted $4.4B. The most significant variance is observed in the Hospital, which spent $1,804M against a budget of $2,059M, representing a $255M decrease. These savings more than offset the gap between budgeted and actual revenue. Clinical Practice and Academic & Support divisions showed relatively minor variances, with actuals closely matching their budgeted amounts.

The lower-than-budgeted spending can be attributed to several key factors, including infrastructure and equipment cost reductions, specifically, networking services savings of $2.7M due to deferred purchases and including equipment cost reductions. Additionally, there were utility cost savings with significant reductions from the implementation of strategic contract negotiations. 

COSTS BY EXPENSE TYPE

FY 2024 Actuals vs. FY 2024 Operating Budget

These charts compare actual versus budgeted expenses across different cost categories for FY 2024, with total actuals of $4.0B against a budget of $4.4B. The most significant expense category remains Salary & Wages at $2,492.5M in actuals versus $2,631M budgeted, representing 61.6% of total actual expenses compared to the budgeted 60.2%.

Notable variances between actuals and budget include Utilities, which showed significant savings, with actuals of $47.1M compared to the budgeted $87.2M (a $40.1M decrease). This variance was primarily driven by two factors: (1) the implementation of a new strategic cost-reduction contract initiated in April 2023, which resulted in reduced electricity and steam costs, (2) the original FY23/24 utility budget was based on higher mid-year trends from FY 22/23 before the new contract took effect.

Additionally, Contractual Services came in at $383.6M versus a budget of $428.6M, showing a $45M decrease. Overall in the non-personnel categories there were cost savings, with the exception of Supplies - Other and Lease Expenses. 

ACADEMIC & RESEARCH ENTERPRISE COSTS BY DIVISION

FY 2024 Actuals vs. FY 2024 Operating Budget

The Academic & Research Enterprise shows total actual costs of $1.3B compared to the budgeted $1.4B. Notable variances can be observed across several key divisions. Research expenditures of $340.1M were $23.5M below budget ($363.6M), primarily due to payment timing differences and budget over projection.

University Administration showed a variance, spending $217.8M against a budget of $234.7M. This $16.9M difference is primarily due to the timing of contractual payments related to the Oracle business systems implementation.

Information Technology spent $40.8M compared to the budgeted $50.7M, with the variance largely influenced by delayed SUNY incremental funding for FY 2023/24 (allocated in February). Additionally, Student Affairs experienced delays in several capital projects ranging from $1M to $4M due to postponements. Personnel changes in Student Affairs, where vacant positions were filled at lower salary rates, also contributed to the cost variance.

UNIVERSITY ADMINISTRATION COSTS

FY 2024 Actuals vs. FY 2024 Operating Budget

The University Administration's total actual expenses were $218M, coming in $17M below the budgeted $235M. Student Aid is the largest category, but has the smallest variance [$0.5M], with actual spending of $69.6M compared to $69.1M budgeted. Most of the remaining categories reflect savings between what was budgeted versus the actual spend.  Some of this is due to the timing between strategic university-wide commitment approvals and their spend.  This includes fiscal savings from the timing of new hires.

STONY BROOK FOUNDATION COSTS

FY 2024 Actuals vs. FY 2024  Operating Budget

The Stony Brook Foundation (SBF)  support reflected in these charts includes external philanthropic support as well as the investment returns from the endowment fund. SBF Agency Funds (not included in this visual) represent pass-through funds owned by the University and invested by SBF on the University’s behalf. Stony Brook Foundation's total actual expenditures were $71.3M, representing an $8.3M decrease from the $79.6M operating budget. The most significant variance appears in the Renaissance School of Medicine (SOM); their planned spend was $20.4M, but their actual spend was $7.5M, which was $12.9M less - primarily due to timing of an expansion project.

ACADEMIC & RESEARCH ENTERPRISE COSTS BY EXPENSE

FY 2024 Actuals vs. FY 2024 Operating Budget

These charts show Academic & Research Enterprise costs categorized by expense type, with total actuals of $1.3B versus the $1.4B budget. Salary & Wages continue to be the dominant expense category at $787.5M (58.6% of total costs), in line with the $787.6M budget (54.4%). The second largest category is Other expenses at $224.1M (16.7%) compared to the budgeted $246.3M (17.0%), which encompasses various subcategories including indirect costs of practice, expense transfers, and subawards. 

Total actual costs were approximately $105.1M less than budgeted, due to various timing and implementation factors. The variance is primarily driven by three key factors: operational savings from University Administration and SBF Agency Funds, conservative budgeting practices in Research Foundation and Stony Brook Foundation, and disbursement timing related to the Oracle business systems implementation, and strategic hires.

HEALTHCARE ENTERPRISE BY EXPENSE

FY 2024 Actuals vs. FY 2024 Operating Budget

These charts show the Healthcare Enterprise expenses broken down by category, with total actuals of $2.7B compared to the $2.9B budget. Salary & Wages remain the largest expense category at $1,705.0M (63.1% of total costs), showing a significant decrease from the budgeted $1,843.3M. The Healthcare Enterprise overall spent $216.4M less than budgeted across all categories. 

Note: This reflects the operating budget as of September 2023, revenue costs as of June 2024 and expenses as of September 2024. This website has been updated as of  March 2025.