Summer Financial Report - L&S

This page provides detailed instructions, definitions and links related to the summer Financial Report in L&S.

The summer Financial Report shows enrollment/credit data and cost data for each summer course. Related instructional expenses funded by Summer 131, like Summer Term Chair, are included. This data is used to calculate the overall summer surplus for the department or program.

There are three versions of the Financial Report, using either estimated or actual data:

These reports are sent via departmental summer Box folders ("48-#### Summer"). 

Initial Financial Report

This report creates a surplus estimate for the department, based on estimated paid credits and estimated costs.

Financial Report - Initial
Column Name Description
Course Number and Name

Course number & name, with topic if applicable.

Other expenses funded by Summer 131, like Summer Term Chair, may also be listed.

Instruction Mode
  • Classroom
  • Online Only
  • Online (some classroom)
  • N/A
Est Costs

Sum of estimated costs on Summer 131 funding (131-2 A48##93).

Estimate includes fringe estimates (final costs will include actual fringe):

  • Instructors: 20% fringe estimate
  • Teaching Assistants: 5% fringe estimate
Est Enrollment

Estimated enrollment (headcount)

Credit Range

Credit range of course

Est Paid Credits

Paid Credits are credit hours associated with students who paid tuition to the campus tuition pool. See Summer Budget Model Definitions for a more detailed explanation.

Est Revenue

'Est Paid Credits' figure multiplied by $325

Est Surplus

'Est Revenue' minus 'Estimated Costs'

Paid Credits Needed for Positive Course Contribution

'Est Costs' figure divided by $325

Preliminary Financial Report

This report creates a surplus estimate based on estimated costs and early enrollment data. 

Financial Report - Preliminary
Column Name Description
Course Number and Name

Course number & name, with topic if applicable.

Other expenses funded by Summer 131, like Summer Term Chair, may also be listed.

Instruction Mode
  • Classroom
  • Online Only
  • Online (some classroom)
  • N/A
Est Costs

Sum of estimated costs on Summer 131 funding (131-2 A48##93).

Estimate includes fringe estimates (final costs will include actual fringe):

  • Instructors: 20% fringe estimate
  • Teaching Assistants: 5% fringe estimate
Enrollment

Actual enrollment / headcount

Credit Range

Credit range of course

Student Credit Hours

Actual student credit hours (not paid credit hours).

Adjusted Student Credit Hours

90% of the 'student credit hours' figure.

Based on past summers, enrollment at this time is typically 10-15% higher than final paid credits. See the L&S Summer Budget Model for a more detailed explanation.

Est Revenue

'Adjusted Student Credit Hours' multiplied by $325

Est Course Contribution to Dept Surplus

'Est Revenue' minus 'Est Costs'

Final Financial Report with Revenue

This report creates a surplus estimate based on actual costs on Summer 131 and actual enrollment data.

  • Surplus calculation: $325 * paid credits minus instructional costs
  • Summer Budget Model explanation: Revenue Reporting
  • Timing: Sent in late August/early September each year.
  • Revenue: See Summer Accounting in L&S for an explanation of revenue transfers.
Financial Report - Final with Revenue
Column Name Description
Course Number and Name

Course number & name, with topic if applicable.

Other expenses funded by Summer 131, like Summer Term Chair, may also be listed.

Instruction Mode
  • Classroom
  • Online Only
  • Online (some classroom)
  • N/A
Costs, Including Fringe

Actual costs to Summer 131 funding (131-2 A48##93), includes fringe.

Data is pulled from WISER. Costs may ultimately be higher if some costs have not posted to WISER at the time of the report.

Enrollment

Actual enrollment / headcount

Credit Range

Credit range of course

Student Credit Hours

Actual student credit hours

Paid Credit Hours

Actual paid credit hours.

Paid credit hours contribute to the department/program's revenue. See Summer Budget Model Definitions for a more detailed explanation.

Revenue

'Paid Credit Hours' multiplied by $325

Course Contribution to Dept Surplus

'Revenue' minus 'Costs, Including Fringe'

This figure may ultimately be lower if some costs have not posted to WISER at the time of the report.

Primary Contacts for L&S Administration

  • L&S Budget Office
  • L&S Teaching & Learning Administration


Keywordssummer, financial report, Summer 131, summer budget model, financialreport   Doc ID122522
OwnerAmanda M.GroupL&S KB
Created2022-11-16 10:42 CDTUpdated2023-08-31 09:54 CDT
SitesL&S KB
CleanURLhttps://kb.wisc.edu/financialreport
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