SUNYCantonIFRFAQs
HowdoIopenanIFRaccount?
ThefollowingarethestepsyoushouldusewhenrequestinganIFRaccount:
1. Determinewhattheaccountistobeusedfor.Howmuchrevenuewillthisaccount
generate?Whatwillyourexpenses(budget)be?
2. CompletetheNewIFRAccountRequestFormtosubmittherequesttoAccountingfor
processing.
a) Formsmissingsignatureswillbereturnedtotherequester.
3. Accountingwillinformyouandallinterestedpartiesoncetheaccounthasbeencreated.
Pleaseexplainthedifferencebetween"EndingCashBalance"
and"CashBalancelessEncumbrances".
Asimplewaytoanswerthisquestionistothinkofyourowncheckingaccount.Theendingcash
balancewouldbeequivalenttowhatthebanksaysyouhaveaftercertainchecksanddeposits
havecleared.Thecashbalancelessencumbrancesoruncommittedcashbalanceiswhatyou
sayyourrealbalanceisafteryouadjustedthebankbalancebyanyoutstandingdepositsand
checks.Theendingcashreflectsyouraccountbalanceafterpayroll,purchaseorders,journal
transfersandanyIFRassessmentshavebeenprocessedandpaid,whilethecashbalanceless
encumbrancesoruncommittedcashincludesnotonlytheprocessedandpaidexpendituresbut
theencumberedpayroll,purchaseordersandaccruedIFRassessments.NotetheCashBalance
lessEncumbrances/UncommittedCashdoesnotreflectfuturerevenue.
Whatarethefringebenefitandoverheadrates?
TheOfficeoftheStateComptroller(OSC)andtheDivisionofBudgetanalyzestheactualfringe
benefitcostsonanannualbasis.Aftertherateiscomputed,OSCnotifiesallstateagenciesof
theratespecifictoafiscalyearandagency.
ThecomponentsfortheFringeBenefitrateareasfollows:
• SocialSecurityandMedicare
• Survivor’sBenefit
• Pensions
• DentalInsurance
• HealthInsurance
• EmployeeBenefit
• UnemploymentInsurance
• VisionBenefit
• Worker’sCompensation
HistoricallytherateforIFRoverheadassessmentswereidentifiedandassessedbySUNY
SystemAdministration.RevenueisthebasisforchargingIFRassessmentsnotexpenditures.The
currentrateis:IFROverhead14.3%
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Howisthisassessmentchargedtotheaccount?
FringebenefitsareassessedonPayrollexpenditures.TheIFRoverheadassessmentwillbe
chargedontherevenuepriortoanyfringebenefitcharges.Astherevenueisdepositedtoyour
account,theassessmentwillbecharged.Thischargeisadirectreductiontoyouraccount's
cashbalance.ItDOESNOTaffectyouraccount'sallocation.
Myaccounthasplentyofcash,yetPurchasingsaysIdonot
haveenoughmoneyformyorder.Pleaseexplain.
When,Purchasingprocessesapurchaseorder,theymakeanencumbranceagainstyour
account'sallocation,notyourcash.Whenyourequestyouraccount'sinitialallocation,your
requestshouldbebasedonyouranticipatedannualrevenueandexpenditures.Ifyourcashis
greaterthananticipated,youmayrequest,throughyourDean/DepartmentManagerand
ultimatelytheBudgetOffice,additionalallocation.Basically,youneedyourallocationtospend
yourcash,andyouneedyourcashtogetyourallocation!
Whydoesitseemtotakesolongtoseemycashdeposits?
AlldepositsaremadeatthecampusStudentAccountsOffice.Every15thand30th(or31st)of
themontharevenuesummaryreportisgeneratedidentifyingthetotalofalldepositsmadeto
eachaccount.TheStudentAccountsOfficereviewsthisreportandsubsequentlyentersthe
revenueinformationintotheSUNYsystem.WhenyoulookatyourIFRcashlineSUNYBI,the
cashamountsreflectedforeachmonthareforthelast15daysofthepriormonthandthefirst
15daysofthecurrentmonth.Forexample,ifyoulookatthemonthofJanuary,thecashwould
befortheperiodsofDecember16-31,andJanuary1-15.
HowdoIknowthedetailofthetotalcashpermonth?
TherevenueinBIisanaggregateforthetimeperiodreported.Thedetailcanbeobtainedby
contactingStudentAccounts.
Anerrorwasmadeandadepositwentintothewrong
account.HowcanIgetitcorrected?
ContactStudentAccounts(315-386-7616)explainingtheerrorandindicatethecorrectaccount
thatshouldhavereceivedtherevenue.StudentAccountswillprocessatransferofcash
betweentheaccounts.Atransferofcashmaygenerateassessments.
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Unspentallocationwasremovedfrommyaccount.Howcan
theytakemymoney?
WhenIFRallocationisinshortsupplyandprojectionsindicatethatyouwillnotrequireallof
yourrequestedallocation,somemaybetransferredtootheraccountsthatareshortatthe
BudgetOfficer’sdiscretion.Thisdoesnotmeanthatyourmoneyhasbeentaken;yourcash
balanceisunaffected.
Therewasunspentallocationattheendoftheyear.DidIlose
thatmoney?
Unlikestatepurposefunds,IFRaccountsdonot"lapse".Althoughtheallocationisunspent,the
cashbalancerollsforward,andisoneofthefactorsusedtodeterminetheaccountallocation
forthefollowingyear.
WhyarerechargesinmyIFRchargedtosuppliesand
contractual?
Unlikestatepurposefunds,theIFRaccountswerenotsetuptoallowexpendituresinthe
Rechargesectionoftheaccount.
WhatisthedifferencebetweentheIFRCashSectionandthe
AccountBalanceSection?
IncomeFundReimbursable(IFR)andStateUniversityTuitionReimbursementAccount(SUTRA)
accountsshowacashbalancesection.Thissectionshowsbeginningcash,revenuepostedto
theaccount,fringebenefits,overheadcharges(administrativeandmaintenance&operations),
anoverviewofexpendituresandencumbrances,andtheendingcashbalance.
AllIFRandSUTRAaccountsarechargedoverheadonrevenuepostedtotheaccount.Fringe
BenefitsarechargedtothoseIFRaccountswherePersonalService(PSR)andorTempService
arecharged.However,SUTRAaccountsarechargedfringebenefitsbasedonrevenueposted
totheaccount.SeeDiagramAforanexplanationoftheIFRSummaryinBI.SeeDiagramBfor
anexplanationoftheIFRCashPageinSMRT.
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DiagramA:
DiagramB:
Description
CashBasisYTD
Pending
AvailableYTD
ExplanationofDescription
BeginningCashBalance
1
$4,111.87
$4,111.87
1
Beginningcashat7/1
PriorYrDisb/Exp
PriorYrEncumbered
AdjustedBegCash
2
948.50
-
3,163.37
948.50
-
3,163.37
2
Expendituresinpreviousyearpaidafter7/1
3
Beginningcashafterallpreviousyearexpensesarepaid
20,942.93
-
20,942.93
20,942.93
-
20,942.93
4
Revenuedepositedtoaccountinfiscalyear(7/1to6/30)
24,106.30
24,106.30
0.00
-1,172.80
-1,822.03
21,111.47
5
5
5
6
FringeBenefitsarechargedonPSRandTempService
Overheadchargedonrevenuedepositedintoaccount.
Overheadchargedonrevenuedepositedintoaccount.
Availablecashafterprioiryearexpensesandoverheadcharges
Total
7
8
9
10
CurrentyearisasummaryoftheAccountsBalancepage
Saraliespaidincurrentfiscalyear
TempServicepaidincurrentfiscalyear
OTPSpaidincurrentfiscalyear
$10,911.11
11 Cashleftafteralloverhead,expensesandencumbrances
Revenue
YTDProgramRevenue
YTDRevenueTransfers
TotalRevenue
3
4
GrossCashAvailable
AffectedBy:
FringeBenefits(55.48%)
AdministrativeO/H(5.60%)
MaintO/H(8.70%)
NetAvailableforOperations
5
5
5
6
CurrentYear:
PSR
TS
OTPS
Total
7 Allocation
8
0.00
9
0.00
10 14,200.00
14,200.00
EndingCashBalance
11
0.00
-1,172.80
-1,822.03
21,111.47
0.00
0.00
0.00
0.00
Expense
Encumbere
0.00
0.00
0.00
0.00
5,774.88
4,425.48
5,774.88
4,425.48
$15,336.59
-4,425.48
Allo
0.00
0.00
0.00
0.00
10,200.36 3,999.64
10,200.36 3,999.64
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IFRDo’sandDon’ts
DiagramC:
Do's
Can move from allocation from IFR to
IFR
Can move state expenses to IFR
Use of State and IFR funds to
purchase food:
Purchases must be related to
programming.
For instance: Dept. X invites an outside
person/group to campus for a studentrelated purpose or activity. The
department can use State/IFR funds to
purchase food for the event.
Don'ts
Cannot move cash from IFR to IFR,
except for Athletics
Cannot move allocation from IFR to
State to pay for expenses
For IFRs, cannot use the Recharge
sections (meaning, can’t move OTPS
and Recharge funds within the account
balance); funds must be moved from
corresponding allocation (cash section).
https://www.canton.edu/reassign/
State and IFR funds cannot be used to
purchase food for a staff lunch; reward
staff for an activity, etc.
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