Instructions / Supplemental Information
For US Institutions
The accompanying set of worksheets will be used to calculate the CFI for your
institution.
Everyone should start with the adjustments page. It uses selected information from
the financial statements to modify amounts reported in the financial statements.
Several adjustments are necessary. First, foundations following FASB reporting
standards include net investment in plant as part of unrestricted net assets. These
are not expendable net assets so they must be eliminated from unrestricted net
assets. Note A on the adjustments page addresses this.
For FASB foundations, temporarily restricted net assets may include resources that
are to be used for capital assets. For GASB institutions/foundations, restricted
expendable net assets may include resources that are to be used for capital assets.
These amounts must be subtracted from expendable resources. Sometimes they
will be disclosed on the face of the statements but, more likely, they will be found
in the notes. Note B on the adjustments page addresses this.
Not all foundations present an operating measure in their statement of activities. If
there is no indicated operating measure (e.g., net operating income/loss or net
loss/surplus from operations or operating activities), the calculations must be based
on the net change in unrestricted net assets and total unrestricted revenues. Note C
on the adjustments page addresses this.
Use the Financial Results (GASB) form Column A for the institution. If there is a
foundation and it follows GASB reporting standards, use the Financial Results
(GASB) Column B for the foundation. If there is a foundation and it follows
FASB reporting standards, use the Financial Results (FASB) form column A or B
depending on whether an operating measure is presented for the foundation. (Even
though the foundation may not be under the institution’s control, the institution's
financial health cannot be assessed without considering the resources held by the
foundation(s).)
FASB entities report all expenses as part of unrestricted net assets. Focus only on
that section or column when completing the expense lines of the forms. When
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considering revenues, be sure to include net assets released from restrictions if they
appear in the unrestricted net assets section or column.
Some foundations include payments to or on behalf of the institution as part of
expenses; others present them in a separate category. The analysis requires that
these payments be included with expenses. A separate line is provided in the
worksheet in case they are not included in the expense total.
The net operating income or loss reported by a public institution does not represent
the true picture of operating results. The financial reporting standards require the
exclusion of various items that are used to support operations. These include state
appropriations for operations, non-endowment gifts and contributions,
nonoperating grants, and investment income. The worksheet includes extra lines
for these items to provide a more accurate depiction of operating results.
Advice: Complete the template for the institution before working on the
foundation.
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Data Locations
FASB Institutions and Foundations
NOTE: THE LABELS ON THE WORKSHEET MAY NOT MATCH
THE TERMINOLOGY IN YOUR STATEMENTS. ASK IF YOU'RE
UNSURE.
 Unrestricted net assets will be found near the bottom of the statement of
financial position.
 Temporarily restricted net assets will be found near the bottom of the
statement of financial position.
 If any temporarily restricted net assets are held for plant or capital purposes,
this may be disclosed in the net assets section of the statement of financial
position. If it does not appear there, look through the notes to the financial
statements for a note addressing net assets and try to identify a dollar amount
that is labeled restricted net assets. It is possible that there are no restricted
net assets of this type (or that the institution elected not to disclose them.
 Property, plant, and equipment will be found in the assets section of the
statement of financial position.
 Plant-related debt will be found in the liabilities section of the statement of
financial position. It usually will be labeled bonds or notes payable or longterm debt. Also look for capital leases, another form of plant-related debt. It
is possible that the institution will divide the liabilities into two categories:
current and noncurrent (or long-term). If this division is present, be sure to
identify the amounts in both sections.
 Funds held in trust for plant purposes will be found in the assets section of
the statement of financial position.
 Operating expenses or total expenses will be found on the statement of
activities. Focus only on amounts reported in the unrestricted net assets
column or section.
 Payments by the foundation to the institution will be found on the statement
of activities (and may be included in the expense total).
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 Net operating loss/surplus will be found on the statement of activities.
 The net change in unrestricted net assets will be found near the bottom of the
statement of activities. This amount is relevant only if the entity does not
report an operating measure.
 Change in total net assets will be found near the bottom of the statement of
activities. Be sure to check the column heading to ensure that you’re picking
up the amount for the correct year.
 Beginning total net assets will be found near the bottom of the statement of
activities—usually immediately above the ending total net assets. Be sure to
check the column heading to ensure that you’re picking up the amount for
the correct year.
 Operating revenues will be found in the top section of the statement of
activities.
 Total unrestricted revenues will be found in the top section of the statement
of activities. This amount is relevant only if the entity does not report an
operating measure.
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GASB Institutions and Foundations
NOTE: THE LABELS ON THE WORKSHEET MAY NOT MATCH
THE TERMINOLOGY IN YOUR STATEMENTS. ASK IF YOU'RE
UNSURE.
 Unrestricted net assets will be found near the bottom of the statement of net
assets/statement of net position.
 Restricted expendable net assets will be found near the bottom of the
statement of net assets/statement of net position.
 If any restricted expendable net assets are held for plant or capital purposes,
this may be disclosed in the net assets section of the statement of net assets.
If it does not appear there, look through the notes to the financial statements
for a note addressing net assets and try to identify a dollar amount that is
labeled restricted net assets. It is possible that there are no restricted net
assets of this type (or that the institution elected not to disclose them.
 Funds held in trust for plant purposes will be found in the assets section of
the statement of net assets/statement of net position—usually in noncurrent
assets.
 Total operating expenses will be found on the statement of revenues,
expenses, and changes in net assets.
 Payments by the foundation to the institution will be found on the statement
of revenues, expenses, and changes in net assets (and may be included in the
expense total).
 Interest expense will be found in the nonoperating revenues and expenses
section near the bottom of the statement of revenues, expenses, and changes
in net assets.
 Other expenses, if applicable, will be found in the nonoperating revenues
and expenses section near the bottom of the statement of revenues, expenses,
and changes in net assets. Note: Other expenses does not include losses.
 Net operating loss/surplus will appear on the statement of revenues,
expenses, and changes in net assets.
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 Plant debt and capital leases will be found in the liabilities section of the
statement of net assets/statement of net position. If there are amounts for
these categories they likely will appear in both current and noncurrent
liabilities.
 Change in total net assets will be found near the bottom of the statement of
revenues, expenses, and changes in net assets. Be sure to check the column
heading to ensure that you’re picking up the amount for the correct year.
 Beginning total net assets will be found near the bottom of the statement of
revenues, expenses, and changes in net assets—usually immediately above
the ending total net assets. Be sure to check the column heading to ensure
that you’re picking up the amount for the correct year.
 Operating revenues will be found in the top section of the statement of
revenues, expenses, and changes in net assets.
 Government appropriations for operations will appear in the nonoperating
revenues and expenses section of the statement of revenues, expenses, and
changes in net assets.
 Contributions or gifts (other than additions to endowment) will appear in the
nonoperating revenues and expenses section of the statement of revenues,
expenses, and changes in net assets.
 Nonoperating grants (excluding capital grants) will appear in the
nonoperating revenues and expenses section of the statement of revenues,
expenses, and changes in net assets. Sometimes this amount will be labeled
federal or Pell grants.
 Net investment income used for operations will appear in the nonoperating
revenues and expenses section of the statement of revenues, expenses, and
changes in net assets. Some institutions do not segregate this amount from
net investment income. If this is the case, include the entire amount.
 Other nonoperating revenues, if applicable, will appear in the nonoperating
revenues and expenses section of the statement of revenues, expenses, and
changes in net assets. It is unusual to see other nonoperating revenues. Ask
if you are unsure whether to include amounts in this section.
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