The Integrated Postsecondary Education Data System  2k19_20 IPEDS Help Desk
(877) 225-2568 or ipedshelp@rti.org
NCES National Center for Education Statistics
Finance
Click one of the following questions to view the answer.
General
1) Who is required to complete this survey?
2) Where do I get the data to fill out this survey?
3) My institution does not award degrees. Do we still need to complete the Finance component?
4) What period should the finance survey cover?
5) We haven’t been audited yet and won’t have an audited financial statement until May. Do I still have to fill this out?
6) What is combined ("parent/child") reporting and how does it work?
7) When does a system office need to report data?
8) Can a system office report combined data?
9) How do I know what reporting standards are used to prepare the financial statements?
11) What is the difference between “business-type” activities and “governmental” activities?
12) My institution is part of a system and the system was audited as a unit, so we don’t have an opinion just on this school. How do I answer the question about the audit opinion?
14) How are revenues per full-time equivalent (FTE) student and expenses per FTE student calculated, and why were they added to the screens?
Public Institutions Using GASB Standards
1) Can public institutions report using FASB?
2) What happens if I respond incorrectly to the reporting standards screening question?
3) I see the term CV on several lines of the finance survey. What is this referring to?
4) Where did component units go?
6) We do not capitalize our library. Do I report it on Part A page 2?
7) If my institution is a GASB-reporter, where should my institution report the gain or loss on the sale or disposal of a plant asset?
8) What are discounts and allowances (Part E)? (We don’t discount our tuition.)
9) What are operating versus nonoperating revenues?
10) We reported federal appropriations in operating revenues rather than non-operating revenues in our financial statements. How should I report them on IPEDS?
11) My institution received funds from the American Recovery and Reinvestment Act (ARRA). Where should they be reported?
12) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
13) What are some examples of independent operations?
14) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
15) How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M), and interest expenses to the other functional expense categories in Part C?
16)
Operation and maintenance (O&M) of plant used to appear as both a functional and natural expense category in Part C (expenses and other deductions). Beginning with the 2016-17 collection, it only appears as a natural expense category. How do I report the O&M that was allocated as a function (e.g., salaries and wages on O&M, benefits on O&M, depreciation on O&M, interest on O&M)? 
17) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
18) What are the impacts of GASB Statement 68 on IPEDS finance reporting? Are all institutions affected?
19) Should the figures reported in Part M reflect adjustments made after the measurement period (according to GASB Statement 71)?
20) How are institutions in a partial parent/child relationships to report in Part M: Pension and Postemployment Benefits Other than Pension (OPEB)? 
21) What are the impacts of GASB Statement 75 on IPEDS finance reporting? Are all institutions affected?
22) Parts JKL: Why can't institutions report negative numbers in the census data sections?
23) Part J: Where should ARRA grants be counted?
24) Part J: Should endowment funds held by component units be reported here?
Private Not-for-Profit and Public Institutions Using FASB
1) I see the term CV on several lines of the finance survey. What is this referring to?
2) What value do I use to report plant, property, and equipment on the second page of Part A?
3) What are allowances in Part C (Scholarships and Fellowships)?
4) What is the difference between funded and unfunded institutional grants as reported on the Scholarships and Fellowships part of the survey?
5) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
6) My institution is primarily a hospital with a small instruction program. How should I report the hospital part of my institution?
7) What are some examples of independent operations?
8) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
9) How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M), and interest expenses to the other functional expense categories in Part E?
10) Operation and maintenance (O&M) of plant used to appear as both a functional and natural expense category in Part E (expenses). Beginning with the 2016-17 collection, it only appears as a natural expense category. How do I report the O&M that was allocated as a function (e.g., salaries and wages on O&M, benefits on O&M, depreciation on O&M, interest on O&M)?
11) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
Private for-profit institutions
1) I see the term CV on several lines of the finance survey. What is this referring to?
2.) How should LLC’s reporting as partnerships for tax purposes to the IRS report in IPEDS?
3) What income tax expenses should my institution report if I belong to both a multi-institution/multi-campus organization and an IPEDS parent/child relationship?
4) What value do I use to report plant, property, and equipment on the second page of Part A?
5) What are allowances in Part C (Scholarship and Fellowships)?
6) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
7) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
8) The financial records of my institution do not break down expenses the way they are listed on Part E. How do I report expenses for my institution?
9) Operation and maintenance (O&M) of plant used to appear as both a functional and natural expense category in Part E (expenses and other deductions). Beginning with the 2016-17 collection, it only appears as a natural expense category. How do I report the O&M that was allocated as a function (e.g., salaries and wages on O&M, benefits on O&M, depreciation on O&M, interest on O&M)?
10) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
Answers:
General
1) Who is required to complete this survey?
  All Title IV postsecondary institutions are required to respond to the Finance survey. Institutions that have a Program Participation Agreement (PPA) with the Department of Education are required to respond. HOWEVER, if your institution is a branch campus of another institution and you SHARE a PPA, then you may make arrangements with the Help Desk to submit one finance survey that covers all of your campuses. Because data provided for institutions are most useful if reported individually, campuses are encouraged to report separately if possible, but reporting together is allowed if the campuses share a PPA.
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2) Where do I get the data to fill out this survey?
  Each institution should have annual financial statements that are audited by an outside auditor. These financial statements are referred to as general purpose financial statements (GPFS). The finance survey is designed to follow the format of the financial statements suggested by the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB). Some of the data necessary to complete the IPEDS Finance Survey may require institutions to adjust the amounts reported in their GPFS; typically these adjustments pull in information included in the notes to the financial statements.
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3) My institution does not award degrees. Do we still need to complete the Finance component?
  Yes. However, the finance survey forms for non degree-granting institutions requires less information to be provided than for degree-granting institutions.
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4) What period should the finance survey cover?
  The finance survey data should come from the last fiscal year that ended before October 1, 2019. For example, if your institution’s fiscal year ends on June 30, it would come from the financial statements covering the year ending June 30, 2019. If your institution’s fiscal year ends on December 31, your financial statements for the year ending December 31, 2018 would be used.
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5) We haven’t been audited yet and won’t have an audited financial statement until May. Do I still have to fill this out?
  YES, you must complete the finance component. Base your response on the information you have at this point. Answer the audit question as “don’t know” and make a note in the context section that the financial statements have not yet been audited.
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6) What is combined ("parent/child") reporting and how does it work?
  Institutional keyholders MUST call the Help Desk before reporting combined data. A Help Desk representative will set up a combined reporting situation for you. We call this a “parent/child” relationship. In this case, one institution reports data for the entire unit, which includes the main campus (parent) and all branch campuses (children). All institutions in the combined report MUST share the same Program Participation Agreement (PPA). Multiple institutions MUST NOT report identical combined data for the same audit. Please refer to Updated Finance Reporting Solutions for Jointly Audited Institutions for more information on parent/child relationships.
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7) When does a system office need to report data?
  A system office needs to report data when reporting combined data or when it has its own separate budget. If a system office’s budget is integrated into an institution such as a flagship university, it may be included in that institution’s finance survey.
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8) Can a system office report combined data?
  A system office may report combined data for institutions that are included in its system- wide audit if they are included in the same PPA. For institutions that are not included in the same PPA, the system may report Part A data (Statement of Net Assets, Statement of Financial Position, or Balance Sheet) for the institutions included in the system-wide audit, but each institution must report its own revenues, expenses, and scholarships. A more detailed description may be found at Updated Finance Reporting Solutions for Jointly Audited Institutions. If a system will be reporting this way, they must contact the Help Desk before reporting combined data.
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9) How do I know what reporting standards are used to prepare the financial statements?
  Ask your finance officer. This person should be aware of any changes in accounting standards. Typically, public institutions report using GASB report standards whereas private institutions report using FASB standards.
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11) What is the difference between “business-type” activities and “governmental” activities?
  These activity types refer to how the institution reports, or will report, its financial activities in their general purpose financial statements (GPFS), as defined in GASB Statement 34. Governmental activities generally are financed through taxes, intergovernmental revenues, and other nonexchange revenues. Business-type activities are financed in whole or in part by fees charged to external parties for goods or services.
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12) My institution is part of a system and the system was audited as a unit, so we don’t have an opinion just on this school. How do I answer the question about the audit opinion?
  You should base your answer on the audit for the system since that audit includes your institution.
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14) How are revenues per full-time equivalent (FTE) student and expenses per FTE student calculated, and why were they added to the screens?
  The calculation of these values takes the amounts reported for revenues and expenditures from the finance survey form and divides those amounts by the 12-month FTE student enrollment from the 12-month Enrollment survey that was completed in the fall data collection. These calculated values are used by the system to compare the data reported by the institution to the data of institutions that are in the same sector (e.g., public/private, 4-year/2-year) to see if the calculated value is an extreme value that is too high or low. While it is not anticipated that your institution would have the same overall revenue or expenses, this comparison may be useful for ensuring that all appropriate amounts have been included in the finance survey component, or excluded when appropriate.
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Public Institutions Using GASB Standards
1) Can public institutions report using FASB?
  Yes, but only in very rare instances. Your finance/business officer will know which version of the finance component should be completed.
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2) What happens if I respond incorrectly to the reporting standards screening question?
  You will get the wrong finance forms. If you find you have responded incorrectly, go back to the screening question and change your response. When you save the screen the old data will disappear and the new correct forms will be available.
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3) I see the term CV on several lines of the finance survey. What is this referring to?
  CV is an abbreviation for Calculated Value. You do not need to enter an amount on this line. Once you click on Verify and Save, the system will calculate the amount based on other data you have entered. A formula may be found in the same block where you find the abbreviation CV.
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4) Where did component units go?
  Separate reporting was eliminated when institutions moved to the new aligned reporting that was mandatory starting in 2010-11. Because the reporting of component units is unique to institutions using GASB standards (mostly used by public institutions) and not required by those using FASB standards (mostly private institutions), alignment would be better achieved if these units were not included. However, component unit information should still be included when reporting endowment assets in Part H. 
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6) We do not capitalize our library. Do I report it on Part A page 2?
  If you do not capitalize it, do not report it in property, plant, and equipment.
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7) If my institution is a GASB-reporter, where should my institution report the gain or loss on the sale or disposal of a plant asset?
  Such components in the changes in the net assets of the institution should be reflected in Line 05 in Part D - Summary of Changes in Net Position. Although this line is a calculated value that is entitled, Adjustments to beginning net position, this is the most appropriate place for these values to be captured (instead of as Other revenue or Other expenses in Part B or C). Although this type of transaction is NOT an adjustment to beginning net position, this is the best place for it to be captured in the IPEDS finance component for comparability with FASB-reporters. Additionally, institutions having such type of transactions should explain that in the context box available in Part D. Do not include this amount in the reporting of Revenues or Expenses. 
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8) What are discounts and allowances (Part E)? (We don’t discount our tuition.)
  Discounts and allowances are simply the part of scholarships used to pay institutional charges such as tuition and fees or room and board. The difference between total scholarships (reported in the top part of Part E) and net scholarships expenses (reported on Part C) is total discounts and allowances.
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9) What are operating versus nonoperating revenues?
  Operating revenues are received in exchange for goods or services provided, such as sales or tuition. The payer must also be the one who receives the services. Nonoperating revenues result from “nonexchange transactions” such as donations, state appropriations, tax revenues, and certain grants.
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10) We reported federal appropriations in operating revenues rather than non-operating revenues in our financial statements. How should I report them on IPEDS?
  Federal appropriations are usually accounted for as non-operating revenues, similarly to state appropriations. Amounts reported as federal appropriations are intended to meet current operating expenses, and not generally intended for a specific purpose as operating revenues are. If, however, the institution included the revenue in operating revenue, report it there for purposes of IPEDS as well.
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11) My institution received funds from the American Recovery and Reinvestment Act (ARRA). Where should they be reported?
  GASB-reporting institutions should report ARRA revenues into the total included in Part B, line 19 (Total nonoperating revenues).
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12) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
  No, these VA education benefits should not be included as “federal grant” in the Finance revenue section or as “other federal student grant aid” in the scholarship/fellowship section. They should be reported as "tuition and fees" revenue received from the student. VA education benefits should also be excluded from discounts/allowances. 
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13) What are some examples of independent operations?
  Independent operations include federally funded labs such as Argonne at the University of Chicago, the Livermore Labs in the UC system, and the Jet Propulsion Lab at Cal Tech. These are major ancillary operations that are related to the primary missions of instruction, research, and public service but they are so significant as to warrant separate classification.
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14) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
  This amount is a calculated value. It is derived by subtracting the sum of the detail items above this amount from the total below it. Negative amounts in these fields are caused when the total entered is less that the sum of the detail items entered. Check for keying errors and recheck totals. Nonoperating expenses, such as interest on debt, should be reported on Part C.
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15) How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M), and interest expenses to the other functional expense categories in Part C?
 

The National Association of College and University Business Officers (NACUBO) has prepared an advisory report (AR 2010-1), entitled, Public Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest Expenses to Functional Expense Categories to assist public institutions in developing an approach to allocating these expenses among the functional expense categories. The advisory report steps through a cost allocation approach. Because independent institutions have been allocating such costs for more than a decade, the report focuses on methods currently used by independent institutions.

While O&M, depreciation, and interest have been allocated among the functional expense categories, institutions are still required to report their totals as natural expense categories.

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16)
Operation and maintenance (O&M) of plant used to appear as both a functional and natural expense category in Part C (expenses and other deductions). Beginning with the 2016-17 collection, it only appears as a natural expense category. How do I report the O&M that was allocated as a function (e.g., salaries and wages on O&M, benefits on O&M, depreciation on O&M, interest on O&M)? 
  O&M is no longer reported as a functional expense category. As such, any previously reported figure for the Total O&M functional expense figure should be allocated to the other functions (e.g., Total O&M as a function should be distributed among instruction, research, public service, etc.) in part C-1. NACUBO guidance provides methods for allocating O&M among the other functions. 

O&M in salaries and wages, benefits, depreciation, interest, and other natural classifications should be excluded from totals of those categories and reported in the O&M natural expense category found in part C-2. For example, benefits spent on O&M should be reported in line 19-4 (not 19-3) of Part C-2. O&M as a natural classification category (line 19-4) should include the total amount of operation and maintenance of plant expenses allocated to all the functions listed on lines 01-14 in Part C-1.

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17) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
  The $5 million dollars in expense should be reported in the Total amount of the Employee fringe benefits or Benefits (rather than being allocated across the other functions such as Instruction, Research, or Institutional support). By doing so, the $5 million dollar expense will appear as an Other expenses & deductions within the benefits column. The consequence of this reporting is that the one-time early retirement buyout will not affect the historical nature of total or benefits costs by function. An explanation may also be added to the context box to explain this early retirement buyout. The Financial Accounting and Reporting Manual (FARM) from the National Association of College and University Business Officers offers little guidance on this topic. However, the FARM contains useful language from GASB (Statement 47) and FASB (Concept Statement 2) indicating that such expenses should be treated as benefits: “In financial statements based on accrual accounting, employers should recognize a liability and expense for voluntary termination benefits (for example, early-retirement incentives) when the offer has been accepted and the amount can be estimated.”
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18) What are the impacts of GASB Statement 68 on IPEDS finance reporting? Are all institutions affected?
 
GASB Statement 68 will likely impact liabilities, expenses, resource deferrals, and ultimately net position for public institutions or higher education systems that participate in their state’s defined benefit plan (agent or cost sharing), or have their own plan. These institutions are advised:
  • In Part C-1, to allocate the OPEB-related expenses to the other functional expense category, line 14.
  • In Part C-2, to allocate the pension and related expenses to the benefits expense category, as reported on their GPFS.
  • In Part M, to report pension expenses, liabilities (or assets), and/or deferrals related to pension as was recognized as a result of implementation of Statement 68.
Note that if your institution fits any of the following criteria, there is no direct GASB 68 impact and you would NOT be required to report Part M:
  • If your public institution does not have a defined pension benefit plan
  • If your public institution is part of a higher education system and the system reflects the pension expense and liability (and does not allocate the expense and liability to the individual institutions)
  • If your institution is a branch campus that did not have pension expense and liabilities allocated to it
  • If your institution is part of a special funding situation and additional unfunded pension expense, liability, or deferral are reported elsewhere
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19) Should the figures reported in Part M reflect adjustments made after the measurement period (according to GASB Statement 71)?
  GASB Statement 71: Pension Transition for Contributions Made Subsequent to the Measurement Date amended GASB Statement 68. GASB 71 indicated that contributions made subsequent to the measurement date should be reported as deferred outflows. Thus, Line 04 should include these contributions. Do not apply the contributions to the expense reported in Line 01. 
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20) How are institutions in a partial parent/child relationships to report in Part M: Pension and Postemployment Benefits Other than Pension (OPEB)? 
  Note that Part M is only required from institutions impacted by the implementation of GASB Statement 68 and Statement 75. If a public institution does not have a defined pension benefit and OPEB plan, there is no GASB 68 or GASB 75 impact and Part M is non-applicable. Similarly, if a public institution is part of a higher education system and the system reflects the pension and OPEB expense and liability (and does not allocate the expense and liability to the individual institutions), then there is also no impact from Statement 68 and Statement 75 for the individual public institution and Part M is non-applicable. Institutions with branch campuses that are not required to allocate pension or OPEB expense and liabilities to each campus will also not be impacted by GASB 68 and/or GASB 75 and will not receive Part M.  

Whether you are a parent or child institution, please report the amount on line 01 and/or line 05 for your individual institution only. Partial child institutions can report on lines 02-04 and/or lines 06-08 amounts reported by the partial parent. 
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21) What are the impacts of GASB Statement 75 on IPEDS finance reporting? Are all institutions affected?
 
GASB Statement 75 will likely impact liabilities, expenses, resource deferrals, and ultimately net position for public institutions or higher education systems that participate in their state's postemployment benefit plan, or have their own plan. These institutions are advised:
  • In Part M, to report OPEB expenses that was recognized in your "Statement of Revenues, Expenses, and Changes in Net Position in line 05, report the net OPEB liability that was recognized in your "Statement of Net Position" in line 06. If your institution recognized additional OPEB assets, enter the assets as a negative value. In addition, report the deferred inflow of resources and deferred outflow of resources related to any OPEB plans recognized in your "Statement of Net Position" in lines 07 and 08, respectively.
  • In Part C-1, to allocate the OPEB-related expenses to the other functional expense category, line 14.
  • In Part C-2, to allocate the OPEB-related expenses to the benefits expense category.
  • In Part M, do not include any portion of the OPEB-related items with the pension-related items.
Note for institutions with jointly audited financial statements:
  • In the case where the system office absorbs all the OPEB liabilities/assets, expenses, and deferrals for the campuses, only the system office should include the OPEB liabilities/assets, expenses, and deferrals in its IPEDS reporting.
  • In the case where the institution shares an audited financial statement with another entity (e.g., with district, high school, hospital, etc.), the institution should report only its proportionate share of the OPEB expense, liability, and deferrals.
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22) Parts JKL: Why can't institutions report negative numbers in the census data sections?
  Negative numbers would either belong in the opposite section, (e.g., a negative expenditure should be counted as a revenue), or not reported if there was no cash exchange.
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23) Part J: Where should ARRA grants be counted?
  Report ARRA grants under Part J, Line 03 (Federal Grants and Contracts).
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24) Part J: Should endowment funds held by component units be reported here?
  While endowment funds held by component units are included with Part H, they should be excluded in Part J. Census instructions state to "Exclude gifts to component units." 
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Private Not-for-Profit and Public Institutions Using FASB
1) I see the term CV on several lines of the finance survey. What is this referring to?
  CV is an abbreviation for Calculated Value. You do not need to enter an amount on this line. Once you click on Verify and Save, the system will calculate the amount based on other data you have entered. A formula may be found in the same block where you find the abbreviation CV.
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2) What value do I use to report plant, property, and equipment on the second page of Part A?
  This is the book value (or the value reported in the accounting records) of these assets without consideration for accumulated depreciation. This amount should be reported in the notes to the financial statements, or may be supplied by the business/finance officer of the institution.
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3) What are allowances in Part C (Scholarships and Fellowships)?
  Allowances are the portion of scholarships awarded to students that are used to pay institutional charges such as tuition and fees or room and board.
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4) What is the difference between funded and unfunded institutional grants as reported on the Scholarships and Fellowships part of the survey?
  Funded grants are institutional resources restricted for student aid, such as scholarships and fellowships. They have been restricted by an outside source such as a donor or contract. Unfunded institutional grants are those that are awarded to students from unrestricted institutional resources.
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5) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
  No, these VA education benefits should not be included as “federal grant” in the Finance revenue section or as “other federal student grant aid” in the scholarship/fellowship section. They should be reported as "tuition and fees" revenue received from the student. VA education benefits should also not be included as discounts/allowances. 
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6) My institution is primarily a hospital with a small instruction program. How should I report the hospital part of my institution?
  Hospitals with a small nursing school or radiologic technology program should report activity for the instructional program only. The hospital revenues and expenses should not be included. If the instructional program revenues and expenses cannot be separated from the hospital, contact the Help Desk for further options for reporting.
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7) What are some examples of independent operations?
  Independent operations include federally funded labs such as Argonne at the University of Chicago, the Livermore Labs in the University of California system, and the Jet Propulsion Lab at Cal Tech. These are major ancillary operations that are related to the primary missions of instruction, research, and public service but they are so significant as to warrant separate classification.
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8) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
  This amount is a calculated value. It is derived by subtracting the sum of the detail items above this amount from the total below it. Negative amounts in these fields are caused when the total entered is less that the sum of the detail items entered. Check for keying errors and recheck totals.
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9) How should my institution report the allocation of depreciation, operation and maintenance of plant (O&M), and interest expenses to the other functional expense categories in Part E?
 
The National Association of College and University Business Officers (NACUBO) has prepared an advisory report (AR 2010-1), entitled, Public Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest Expenses to Functional Expense Categories to assist public institutions in developing an approach to allocating these expenses among the functional expense categories. The advisory report steps through a cost allocation approach. Because independent institutions have been allocating such costs for more than a decade, the report focuses on methods currently used by independent institutions.

While O&M, depreciation, and interest have been allocated among the functional expense categories, institutions are still required to report their totals as natural expense categories.
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10) Operation and maintenance (O&M) of plant used to appear as both a functional and natural expense category in Part E (expenses). Beginning with the 2016-17 collection, it only appears as a natural expense category. How do I report the O&M that was allocated as a function (e.g., salaries and wages on O&M, benefits on O&M, depreciation on O&M, interest on O&M)?
  O&M is no longer reported as a functional expense category. As such, any previously reported figure for the Total O&M functional expense figure should be allocated to the other functions (e.g., Total O&M as a function should be distributed among instruction, research, public service, etc.) in part E-1.The NACUBO guidance provides methods typically used by independent institutions for allocating O&M among the other functions.

O&M in salaries and wages, benefits, depreciation, interest, and other natural classifications should be excluded from totals of those categories and reported in the O&M natural expense category found in part E-2. O&M as a natural classification category (line 13-4) should include the total amount of operation and maintenance of plant expenses allocated to all the functions listed on lines 01-12 in Part E-1.
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11) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
  The $5 million dollars in expense should be reported in the Total amount of the Employee fringe benefits or Benefits (rather than being allocated across the other functions such as Instruction, Research, or Institutional support). By doing so, the $5 million dollar expense will appear as an Other expenses & deductions within the benefits column. The consequence of this reporting is that the one-time early retirement buyout will not affect the historical nature of total or benefits costs by function. An explanation may also be added to the context box to explain this early retirement buyout. The Financial Accounting and Reporting Manual (FARM) from the National Association of College and University Business Officers offers little guidance on this topic. However, the FARM contains useful language from GASB (Statement 47) and FASB (Concept Statement 2) indicating that such expenses should be treated as benefits: “In financial statements based on accrual accounting, employers should recognize a liability and expense for voluntary termination benefits (for example, early-retirement incentives) when the offer has been accepted and the amount can be estimated.”
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Private for-profit institutions
1) I see the term CV on several lines of the finance survey. What is this referring to?
  CV is an abbreviation for Calculated Value. You do not need to enter an amount on this line. Once you click on Verify and Save, the system will calculate the amount based on other data you have entered. A formula may be found in the same block where you find the abbreviation CV.
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2.) How should LLC’s reporting as partnerships for tax purposes to the IRS report in IPEDS?
  If the institution recognized federal, state, or local income tax in their GPFS as part of their net income calculation, then they should answer that they are an LLC in the screening question and report the income tax in Part F. However, if the income tax expense was not recognized in their GPFS as part of their net income calculation, then they should answer "Partnership" in the screening question and not report in Part F. 
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3) What income tax expenses should my institution report if I belong to both a multi-institution/multi-campus organization and an IPEDS parent/child relationship?
  If the institution can report combined tax expenses for itself and child institutions, it is encouraged to do so. However, if the institution cannot dis-aggregate tax expenses for itself and child institutions to report, it may report the aggregate amount paid by the multi-institution/multi-campus organization.
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4) What value do I use to report plant, property, and equipment on the second page of Part A?
  This is the book value (or the value reported in the accounting records) of these assets without consideration for accumulated depreciation. This amount should be reported in the notes to the financial statements, or may be supplied by the business/finance officer of the institution.
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5) What are allowances in Part C (Scholarship and Fellowships)?
  Allowances are the portion of scholarships awarded to students that are used to pay institutional charges such as tuition and fees or room and board.
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6) Are VA education benefits under the Post-9/11 or Montgomery GI Bill included as federal grants in IPEDS?
  No, these VA education benefits should not be included as “federal grant” in the Finance revenue section or as “other federal student grant aid” in the scholarship/fellowship section. They should be reported as "tuition and fees" revenue received from the student. VA education benefits should also not be included as discounts/allowances. 
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7) I have an edit that says that Other revenue (or expense) can’t be negative. I didn’t enter it. What do I do?
  This amount is a calculated value. It is derived by subtracting the sum of the detail items above this amount from the total below it. Negative amounts in these fields are caused when the total entered is less that the sum of the detail items entered. Check for keying errors and recheck totals.
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8) The financial records of my institution do not break down expenses the way they are listed on Part E. How do I report expenses for my institution?
  The National Association of College and University Business Officers (NACUBO) has prepared an advisory report (AR 2010-1), entitled, Public Institutions: Methodologies for Allocating Depreciation, Operation and Maintenance of Plant, and Interest Expenses to Functional Expense Categories to assist public institutions in developing an approach to allocating these expenses among the functional expense categories. The advisory report steps through a cost allocation approach. Because independent institutions have been allocating such costs for more than a decade, the report focuses on methods currently used by independent institutions.

While O&M, depreciation, and interest have been allocated among the functional expense categories, institutions are still required to report their totals as natural expense categories.
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9) Operation and maintenance (O&M) of plant used to appear as both a functional and natural expense category in Part E (expenses and other deductions). Beginning with the 2016-17 collection, it only appears as a natural expense category. How do I report the O&M that was allocated as a function (e.g., salaries and wages on O&M, benefits on O&M, depreciation on O&M, interest on O&M)?
  O&M is no longer reported as a functional expense category. As such, any previously reported figure for the Total O&M functional expense figure should be allocated to the other functions (e.g., Total O&M as a function should be distributed among instruction, research, public service, etc.) in part E-1.The NACUBO guidance provides methods for allocating O&M among the other functions.

O&M in salaries and wages, benefits, depreciation, interest, and other natural classifications should be excluded from totals of those categories and reported in the O&M natural expense category found in part E-2. O&M as a natural classification category (line 07-4) should include the total amount of operation and maintenance of plant expenses allocated to all the functions listed on lines 01-10 in Part E-1.
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10) My institution offered an early retirement program last year to faculty and staff as a long-term plan to reduce costs. An expense of $5 million dollars was incurred. How should this be reported in IPEDS finance reporting?
  The $5 million dollars in expense should be reported in the Total amount of the Employee fringe benefits or Benefits (rather than being allocated across the other functions such as Instruction, Research, or Institutional support). By doing so, the $5 million dollar expense will appear as an Other expenses & deductions within the benefits column. The consequence of this reporting is that the one-time early retirement buyout will not affect the historical nature of total or benefits costs by function. An explanation may also be added to the context box to explain this early retirement buyout. The Financial Accounting and Reporting Manual (FARM) from the National Association of College and University Business Officers offers little guidance on this topic. However, the FARM contains useful language from GASB (Statement 47) and FASB (Concept Statement 2) indicating that such expenses should be treated as benefits: “In financial statements based on accrual accounting, employers should recognize a liability and expense for voluntary termination benefits (for example, early-retirement incentives) when the offer has been accepted and the amount can be estimated.”
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