SRECNA Defined
SRECNA is an acronym for Statement of Revenues, Expenses, and Changes in Net Assets. Pronounced like "Shrekna," SRECNA is a standardized report that helps us speak the same language throughout the organization.
SRECNA Key Building Blocks
| Building Block | Description |
| Revenue | External income, e.g. gifts, grants, student fees, sales and services |
| Operating Transfers | Flows of money within the university and within the same fund |
| Expenses | Costs incurred, such as payments to outside parties |
| Changes in Fund Balance | Movement of money between current funds and non-current funds, such as debt service, capital projects, etc. |
| Beginning and Ending Balance | Beginning balance is last year’s ending balance. Ending balance is the beginning balance plus the change in net assets |
Depending on how the rows and columns of data are laid out, SRECNA reports can answer different types of questions:
- Time: Account building blocks by time, e.g. prior year, current year, next year
- Fund Type: Account building blocks by fund type
- Entity Summary: Entity structure by account building blocks
There are several levels of detail in the account structure; the reports allow you to drill down and roll up as desired.
Report Formulas
Net Operating Surplus / (Deficit) = Revenues + Transfers - Expenses
Change in Net Assets = Net Operating Surplus/(Deficit) + Changes in Fund Balance
Ending Balance = Beginning Balance + Changes in Net Assets