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Fiscal Year 2010 Audited Financial Statements

Independent Auditors’ Report...................................... 29 Consolidated Balance Sheets....................................... 30 Consolidated Statements of Activities......................... 31 Consolidated Statements of Cash Flows..................... 32 Notes to Consolidated Financial Statements............... 33

Supplemental Financial Schedules

(unaudited)

Grants and Contracts Expenses

 by Funding Source.................................................... 41 Distribution of Grants and Contracts Expenses........... 42 Budget Categories of Grants and

 Contracts Expenses.................................................. 43 Schedule of Operating Income. ................................... 44 Reconciliation of Administrative Fee Expenditures .... 45 Schedule of Changes in Deposits Held in Custody  for CUNY Colleges.................................................... 46

28

THE RESEARCH FOUNDATION OF THE CITY UNIVERSITY OF NEW YORK

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