TCNJ

Our F i N A N c i A L s T h e c o l l e g e o F n e W J e R S e Y S T R e n g T h e n e d i T S F i n a n c i a l p o S i T i o n i n F i S c a l Y e a R 2 0 1 4 , thanks in part to strong enrollment demand, sustained fundraising growth, and prudent fiscal management. is leaves the college well situated as it seeks to address future challenges and opportunities. tCnJ's leadership continues to emphasize long-term financial sustainability in its operational decisions. In developing an annual budget for the college, the administration is guided by three benchmarks, established by the Board of trustees, that assure commitment to the investment in student experience. ese include: 1) percentage of budget invested in the college's primary purpose, 2) percentage invested in student financial aid, and 3) percentage invested in strategic initiatives. e College of new Jersey and its foundation (page 14) are financially strong, with total net assets of $397 million and stable long-term bond ratings as of June 30, 2014, the close of the last fiscal year. S T R a T e g i c p a R T n e R S h i p S As a means of improving the campus without putting additional pressure on the budget, the college has begun to enter into strategic partnerships with private companies. is year, tCnJ and Sodexo, the college's food service provider, reached a long-term agreement that includes $31 million for a transformative renovation of Brower Student Center and other campus dining facilities. And Campus town, which broke ground in September, is being developed and financed by the pRC Group through an innovative public-private partnership that will generate revenue for the college for decades to come. e $87 million project will include student apartments, a new college bookstore and fitness center as well as shops and restaurants. i n c R e a S e d n e T a S S e T S tCnJ's net position —the difference between its assets and deferred outflows of resources and liabilities—continues to improve. In FY14, it rose to $20.841 million, an increase of $9.248 million or 5.5 percent over FY13. e college's net position has risen steadily over the last several fiscal years. is is one indicator that the college's financial health continues to improve, reflecting sound and careful fiscal management across the institution. S T a T e S u p p o R T over the last three years, tCnJ has received stable funding in its base state appropriation. non-cash fringe appropriations have decreased due to the state's efforts to control costs. Because the state continues to face fiscal pressures, it is unlikely that this pattern of flat funding of the base state appropriations will change. Consequently, it is also unlikely that state support will keep pace with the college's needs. rough the Building our Future bond act and other funding sources, the state has provided a $57 million grant, which is being used to fund approximately half of a $94.2 million expansion of tCnJ's science, technology, engineering, and mathematics (SteM) facilites, as well as other technology and infrastructure improvements.

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