University's Operating Expenses


Functional Areas: Finance Data
Owner: University Controller's Office
Contact: pwu24@ncsu.edu

NC State's Annual Financial Report provides information about the university's financial condition and results of operations each year, starting on July 1 and ending on June 30. Annual financial reports include financial data, statements, analysis, and trend data. This workbook only presents the operating expense part of the university's financial reports.

This dashboard provides a concise and comprehensive snapshot of the university's operating expenses over the past three years. Visualizing this expense data can provide senior leaders with valuable insights to inform strategic decisions regarding the university's financial health (this dashboard includes only expense data.).

Other Attributes
Data Sources: Financial Reporting System
Access Details: Faculty/Staff
Data Update Frequency: After each fiscal year-end.
Citation: N/A
Additional Information

Source Data Systems: NC State University Financial Reporting System 

Definitions

Opearting Expenses Sections

An operating expense is an expense that a business incurs through its normal business operations. The operating expenses at NC State University include Salaries, Benefits, Supplies and materials, Services, Scholarships and Fellowships, Utilities, Depreciation and Amortization. 

Natural Expense Classification

A functional expense classification is a method of grouping expenses according to the purpose for which the costs are incurred. The classifications tell why an expense was incurred rather than what was purchased. (NACUBO FARM, section 700)

Revenue Program Type

Revenue, or sales, is the income a business receives from business-related activities. For most businesses, the majority of its revenue is derived from sales.

Revenues are classified as operating revenues and non-operating revenues. Operating revenue is revenue you receive from your business’s main activities, like Student tuition and fees and federal appropriations. Non-operating revenue is money earned from a side activity that is unrelated to the business’s day-to-day activities, like State appropriations and Student financial aid at NC State University. 

In NC State University, the most common forms of revenue are from student tuition and fees, student financial aid, gifts, contributions, contracts and grants, government appropriations, and auxiliary operations.