It is essential that you review your departmental accounts periodically. The listing below should be used to verify account signatories in order to prevent unauthorized account use. The account balances and transaction detail can be viewed using the BI application. This information should be reviewed at a minimum, on a monthly basis to ensure no erroneous transactions or negative account balances.
Campus Account Listing
To update an account signatory, please email firstname.lastname@example.org. A current account manager must be copied in on this request.
About Income Fund Reimbursable Accounts
An Income Fund Reimbursable (IFR) account is a funding device to operate activities that are not included in the campus general operating budget and cannot be funded through other mechanisms, such as the Research Foundation, the Brockport Foundation, or the Brockport Auxiliary Services Corp.
An IFR account is operated on a self-supporting basis; revenues must equal or exceed expenses. State regulations require that all revenues from the IFR account be deposited into a state bank account through the Student Accounts & Accounting Office. A private bank account cannot be used. All expenditures of IFR funds are subject to State and campus purchasing and payroll regulations. Also, a petty cash or change fund cannot be kept using IFR revenues. A change fund can be established by contacting the Budgeting Office.
A simple way to understand the operation of an IFR account is to think of it as a checking account. Revenue derived from the IFR activity is deposited into the account. Expenses for operating the account are deducted from it. Allocations for personal service, temporary service, supplies, travel, contractual services and equipment expenditures are established to serve as your spending plan, and as a “line of credit” allowing you to make expenditures before revenues are received and credited to your account. You must generate enough revenue by the end of the fiscal year, June 30, to pay for the expenditures made against your “line of credit.”
DIRECT AND INDIRECT EXPENSES
There are two types of expenses in an IFR account — direct and indirect. Direct expenses can be for personal service, temporary service, supplies, travel, contractual services or equipment and must be directly related to the operations of the account. As stated above, all expenditures from an IFR account are subject to State and campus purchasing and payroll regulations. For non-payroll expenditures requisitions must be submitted to Procurement and Payment Services or the VISA procurement card can be used. Regular payroll appointments are made through Human Resources and student appointments are administered through the Student Employment Office.
Indirect expenses include fringe benefits, administrative overhead, and maintenance overhead. Fringe benefits cover the costs of health insurance, retirement, payroll taxes, and more. They are automatically charged to the account as payroll expenditures are made. Administrative overhead is charged to offset the general administrative costs of operating an IFR, such as accounting, procurement and payment services, and payroll. Maintenance overhead is charged in order to recover the costs of using on-campus space and consuming utilities. Administrative overhead and maintenance overhead are charged to an IFR account when revenue is credited to it.
For 2022-23 the indirect costs are calculated as follows:
- Fringe benefits = 63.95% of personal service and regular temporary service expenditures (GA/TA and student temporary service are not charged for fringe benefits).
- Administrative overhead = 6.5% of revenues.
- Maintenance overhead = 9.5% of revenues.
Administrative and maintenance overhead expenses may be partially or fully waived upon approval of the Budgeting Office. Waivers are determined by the nature of the IFR account. The possible waiver categories for each type of overhead are:
Administrative overhead waivers
- W-2 Research Foundation grants and contracts
- W-4 Federal programs
- W-13 Fiscal pass-through
- W-50 Campus approved waiver
Maintenance overhead waiversM-2 Research Foundation grant
- M-4 Off campus
- M-5 Fiscal pass-through
- M-6 Pays maintenance and operating expense
- M-50 Campus approved waiver
RECORDING & REPORTING PAYMENTS
In most cases, revenues from an IFR account operations should be collected by the account manager and deposited at the Student Accounts & Accounting Office on a regular basis. Proper internal controls should be in place to receive and record all receipts and to safeguard cash and checks that have not been deposited. Contact the Student Accounts & Accounting Office for procedures related to depositing IFR receipts. IFR revenues that are billed to students through the student billing process are collected by the Student Accounts & Accounting Office. Revenue collections are credited to IFR accounts in the SUNY Accounting System on a weekly basis.
At the end of each fiscal year (June 30) certain financial statistics for your account are required for reporting to SUNY System Administration for development of SUNY’s year-end financial statements. These may include amounts for accounts receivable, inventories, and prepaid expenditures. The Budgeting office will send you information concerning these items in July of each year.