Since the start of the coronavirus pandemic in March 2020, Baruch College’s revenue has increased, mainly due to lower spending by student organizations.
Bernard M. Baruch College Association College Inc.’s net position in fiscal year 2020-2021 increased by $ 2.82 million, an 87% increase from the previous year, according to financial statements obtained by The Ticker.
Net position, a means of determining financial health, is defined as the difference between assets and liabilities.
In fiscal year 2020-2021, which ended in June 2021, 49% of Baruch’s revenue came from student activity fees, for a total of $ 4.27 million. Tuition fee income increased 11.6% from the previous year.
At the same time, total operating expenses fell 36.2%, totaling $ 5.82 million in savings. In fiscal year 2018-19, before the pandemic, operating expenses were $ 16.01 million. These figures indicate a 63.66% decrease in spending from pre-pandemic levels.
Baruch charges $ 125.60 for the student activity fee per semester for full-time undergraduates, $ 85.60 per semester for part-time undergraduates, and $ 80.45 per summer term . The graduate student fees are $ 39.60 for the fall and spring sessions and $ 14.45 per summer session.
Even though expenses related to student activity fees have dropped considerably since the start of the pandemic, student activity fees are still included in tuition fees at the same amount.
“Overall, all of the declines are due to the cancellation of student clubs and sporting events from mid-March 2020 to the end of the spring semester 2021 due to the COVID-19 pandemic,” the 2020-2021 report on the significant drop. in expenses.
Similar to the 2020-2021 fiscal year, the previous year’s report indicated that the total spending for that year was $ 9.13 million. This is a decrease of $ 6.89 million or 43% from the previous year.
The main components of this gap were related to the decrease in student building fund spending of $ 6,064,408, athletics and recreation spending of $ 307,445 and club / organization / student activity spending of 236. $ 753 “, states the 2019-2020 report.