Page 46 - RFCUNY-2010AnnualReport

Administrative fees:

Administrative fees—standard & CAB $ 21,676,400 20,576,640 Administrative fees—non-standard 1,827,092 1,587,526 ARRA 616,903 — Direct fees 719,223 735,699 PSC-CUNY 362,296 362,296 Accrual of administrative fee revenue 184,704 530,580 Administrative fee income from RF Affiliates—230 W 41st Street, LLC 1,500,000 1,500,000 Administrative fee income from RF Affiliates—GrantPlus 97,000 52,000 Total administrative fees 26,983,618 25,344,741 Interest income 498,899 1,442,787 Net (depreciation) appreciation in fair value of investments (42,157) 863,450 Miscellaneous income 190,968 182,846 Total income 27,631,328 27,833,824

Initial allocations:

RFCO expenses (19,995,769) (18,831,029) ARRA expenses (44,824) — Central allocation budget reserve (2,166,112) (2,300,000) Contingency fund reserve (100,000) (100,000) Employee termination reserve (100,000) (100,000) Legal reserve (350,000) (350,000) Foundation working capital reserve (750,000) (750,000) Support for University-wide sponsored program insurance (688,720) (999,135) Off-site recovery reserve (25,000) (50,000) Reserve for pre-employment background checks (200,000) (200,000) Pre-Award initiative reserve (100,000) — HR/Payroll application replacement (100,000) (100,000) Interest distributed to colleges (100,000) — Interest reserved to offset administrative fee deficit (422,439) (558,646) (Gain) loss on investments 42,157 (863,450) RFCO internal funds (16,053) (5,946) Mid-year allocations:

Pre-Award initiative reserve fund — (74,920) Transfer from unrestricted to fund administrative fee deficit 333 1,243,168 Funding for loss on lease termination (196,444) (189,281) Total deductions to administrative fee reserve (25,312,871) (24,229,239) Increase to administrative fee reserve 2,318,457 3,604,585 Administrative fee reserve at beginning of year 1,479,424 (2,125,161)