Institution Info

  • Institution Name: Ramapo College of New Jersey
  • Institution Sector: State Colleges & Universities
  • Fiscal Year End: 06/30/2025
  • Date external audit completed: 2025-12-19
  • Accounting reporting standard: Public Institutions, GASB (Governmental Accounting Standards Board)

Part A: Financial Performance

  • Unrestricted Net Assets: 36711
  • Expendable Restricted Net Assets: 2516
  • Nonoperating Expense: 9132
  • Operating Revenue: 121520
  • Operating Expense: 179452
  • Nonoperating Revenue: 82065
  • Net Nonoperating Revenue (Expense): 72933
  • Change in Net Position: 15001
  • Net Position (Beginning of year): 118110
  • Long Term Debt: 219942
  • Pension Expense: -4575
  • Net Pension Liability: 84585
  • Deferred Inflows Related to Pension: 1912
  • Deferred Outflows Related to Pension: 8271

Part B: Internal, External and Compliance Risk

  • Operating Expense: 179452
  • Cash and Cash Equivalent: 126682
  • Unrestricted Cash and Cash Equivalent: 85396
  • Unrestricted Investment: 97750
  • Total Investment: 97750
  • Tuition and Fees (net of financial aid): 61399
  • Operating Revenue: 121520
  • Principal Payment (Debt): 3174
  • Interest Payment (Debt): 9132
  • Total Enrollment (12-month unduplicated and Dual Enrollment): 6731

Debt & Debt Covenant

  • Institution carries debt: Yes
  • Institution credit rating agency: S&P Global
  • Institution’s current credit rating (FY 2025): A
  • Debt covenant on loan agreements: No

Audit Findings

  • Audit report findings or questioned costs in FY2025 audited financial statements: No

Component Unit

  • Component unit accountable for and not reflected in financial statements: Yes
  • CU Unrestricted Net Assets: 2601
  • CU Temporarily Restricted Net Assets: 34550
  • CU Change in Unrestricted Net Assets: 412
  • CU Change in Net Assets: 412
  • CU Property, Plant & Equipment (net of depreciation): 0
  • CU Total Unrestricted Revenue: 0
  • CU Total Net Assets (Beginning of Year): 29940
  • CU Total Expenses: 1991
  • CU Plant Related Debt: 0

Certification

Individual completing / certifying accuracy: Frank Di Pentima

PRIVILEGED & CONFIDENTIAL • FY25 Financial Assessment and Risk Monitoring (FARM) • Generated May 4, 2026