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Category:
Financial


Responsible Office:

Procedure Title:
Uniform Revenue Accounting System (URAS) Manual

Document Number:
7304

Effective Date:
July 01, 2014


This procedure item applies to:
State-Operated Campuses

Table of Contents
Summary

Process
Forms
Related Procedures
Other Related Information
Authority
History
Appendices

Summary

Campuses of the State University of New York (University) use the uniform revenue accounting system (URAS). The standard system consists of the following prescribed accounting components:

1. Standard Chart of Accounts

The uniform campus accounts are maintained in a general ledger, which at the option of each campus, may vary in form and may be maintained by either automated or manual procedures. Refer to the general ledger uniform revenue accounting system (URAS) collection module for more specifics on how the automated posting to the general ledger works.

2. Standard Journal Entries

The revenue transactions of each unit are summarized periodically in a uniform double-entry format and are posted to the general ledger accounts.

3. Cash Journals

Cash receipts and disbursement journals are required for each revenue distribution cycle. The journals must be in a format that will provide the account summaries required for the preparation of standard journal entries no. 7 and no. 11. At the option of each campus, the journals may contain either individual cash transactions or summaries from other sources and may be either computer generated or manually posted.

4. Reports and Reconciliations

Periodic reports and account reconciliations, prepared from the uniform accounts, are required by system administration, the Office of the State Comptroller (OSC), and by the Division of the Budget (DOB).

URAS does not include the definition of procedures and detailed accounting records, which are required to maintain the uniform accounts. Therefore, each campus is required to develop or modify procedures for billing of student charges, maintenance of student accounts receivable, processing of cash receipts and disbursements, and other revenue related processes which will provide the accounting data required by URAS. Each campus is also responsible for developing and maintaining internal control procedures related to URAS. Although the development of these procedures is delegated to the campuses, the procedures used must comply with the published rules and regulations of OSC.


Process

GENERAL OBJECTIVES AND CONCEPTS

Several objectives have been defined for URAS:

  1. Creates uniformity in the accounting for revenues.  Such uniformity makes possible the preparation of standard reports to system administration, allow for comparability of revenue data among the campuses, and simplifies the audit procedures for the University, OSC, and independent auditors contracted by the University.
  2. Provides account classifications from which revenue reports can be prepared which are meaningful to campus officials.  The accounts also provide data for the determination of revenue projections for budgetary purposes.
  3. Provides account classifications that will allow cash receipts analyses required for revenue transfers (AC1370) process, which is used to distribute revenue collections on a regular basis.
  4. Coordinates in a single, logical system, the requirements of both the University and the state for revenue accounting.
  5. Creates a systematic accounting process that conforms to generally accepted accounting principles and provides a basis for effective financial management and control by campus officials.

ACCOUNTING CONCEPTS AND PRINCIPLES

The accounting processes documented in the following sections incorporate a number of accounting concepts and principles to properly maintain and process the related transactions.

  1. URAS Funds

The University uses the following funds to carry out the financial aspects of its activities:

(a)     State University Income Fund Offset (SUIFO)  

Includes tuition and student fees remitted to the state and interest earnings and other pooled revenue.

URAS fund – CU11
OSC fund – 34512

(b)     State University Income Fund Reimbursable (SUIFR)

Includes self-supporting programs that provide services for students, clients, and others who are charged fees for such service.  Included are recovery costs from agencies or organizations using University property or services, noncredit continuing education programs, health services, technology services, parking, and intercollegiate athletics, etc.

URAS fund – CU10

OSC fund – 34510

(c)     State University Tuition Reimbursement (SUTRA)

Includes self-supporting programs funded from tuition revenue related to overseas programs, contract and off-campus instructional programs, summer session, and enrollment overflow.

URAS fund – CU17

OSC fund – 34547

(d)     Dormitory Operations (DIFR-OP)

Includes residence hall programs funded from room rentals, guest rentals, and interest earnings.

URAS fund – CU30

OSC fund – 33000/33947

(e)     Dormitory Income Fund Reimbursable (DIFR-IFR)

 Includes self-supporting programs funded from user fees for residence hall and common area damages.

URAS fund – CU47

OSC fund – 33947

(f)       Hospital Operations (HIFR-OP)Includes revenues generated by hospitals from patient care and other services.

URAS fund – CU22 / CU82 / CU83

OSC fund – 34522

(g)     Hospital Income Fund Reimbursable (HIFR-IFR)

Includes self-supporting programs that provide hospital and clinical services for students, clients, and others who are charged fees for such services.

URAS fund – CU46

OSC fund – 34546

(h)     Collection Fund (Collection)

Includes cash, undistributed receipts, and unremitted collections.  Transactions include OSC transfers to/from local depository, financial aid vouchers, revenue transfers (distributions), and transfers to/from other state agencies. Transactions are summarized on monthly UAR615 report.

URAS fund – CU44

OSC fund – 344xx (campus agency code specific)

(i)           Other

Includes food service and other auxiliary services corporation activities.

URAS fund – Other

  1. Double-entry Accounting

    URAS is structured in accordance with double-entry accounting principles.  The general ledger accounts are posted from journal entries and, at any point in time, a trial balance of account balances can be produced with total debit balances equal to total credit balances. Any out of balance conditions must be promptly investigated and corrected.

 

  1. Accrual-basis Revenue Accounts

    Revenues are recognized in the accounting period when earned.  For each academic term registration, billing statements are prepared entailing charges to each registering student.  The bills are analyzed and summarized for the preparation of standard journal entry no. 1, which debits student receivables and credits the revenue accounts.  (Note:  deferred revenue accounts should be used for the summer and fall terms if the campus bills prior to July 1 and the revenue will be recognized in the following year.)

    A subsidiary accounts receivable ledger must be maintained containing an account for each student.  The records should be designed so as to provide the subsidiary classifications that are contained in the general ledger accounts.  The subsidiary accounts receivable ledgers should always agree with the URAS control accounts (i.e., nos. 1300 through 1589, and 1700 through 1789).

 

  1. Cash-basis Collection Accounting

    To provide for the requirements of state finance law, URAS contains nominal collection accounts maintained on a cash basis.  These accounts are classified by specific funds with subsidiary accounts corresponding to each revenue classification required for distribution.

    Tuition Assistance Program (TAP) and State University Supplemental Tuition Award (SUSTA) collections should be applied against tuition receivables, except where tuition has already been covered by other payments.

    Cash receipt and disbursement journals are maintained for each reporting period.  When the journals are closed and posted to the accrual basis accounts, corresponding cash basis entries will be made to recognize the liability to other funds for the net cash amounts collected.  Standard journal entries are provided for cash receipts (journal entry no. 9) which debit the collection accounts and credit liability accounts for unremitted collections.  Cash disbursements (journal entry no. 12) other than the remittance of monies to other funds, require a contra-journal entry that credits the collection accounts and debits the unremitted collections accounts to reduce those liabilities.  The net amounts of the cash entries for each reporting period are then distributed to the respective state or other funds within the following 15-day period.  (Note: this process differs for more modern automated accounting systems, but the underling concept summarizing, reporting and distributing revenue remains the same.)

 

  1. Student Revenue Accounts

    The revenue accounts for student charges are posted with the gross amounts of earned revenues before any credits for waivers of tuition or other charges.  Separate offset accounts are used to record the amounts of waived charges.

    For any academic term, each account that contains revenues related to student registrations should reconcile with the amount of earned revenue determined by multiplying enrollment statistics by the standard rates charged by the campus.

 

  1. Timely Deposit of Cash Receipts

    Cash receipts are posted to the cash receipts journal and deposited in the local depository on the date of receipt.  The analysis of the collections of student tuition and fees receivable are generally not completed before the journal is posted.  Therefore, a suspense account, undistributed receipts, is provided for the journal posting.

    For each reporting period, the total amount of undistributed receipts must be analyzed and applied to the proper accounts via journal entries so that the remittance of the collections to the state treasury may be made in compliance with the state finance law.

 

  1. Cash Refunds to Students

    All credits to students resulting from registration changes, tuition waivers, scholarship or financial aid awards, etc., must be initially recorded in the revenue and student receivable accounts to correctly maintain those accounting records.  Refunds shall be made only on the basis of credit balances in the receivable accounts after auditing those balances.

    A liability account, “refunds due to students,” is provided for the control of cash disbursements to students, and all such disbursements should be made from that account.  A systematic refund sequence should be established, which would consist of the following steps:
    • a periodic analysis of student accounts to identify credit balances;
    • audit of the balances to determine the amount to be refunded;
    • a journal entry (refer to journal entry no. 5) to transfer the total of the audited amounts to the liability account;
    • concurrent preparation of checks to be disbursed from local bank accounts, with a corresponding entry to the cash disbursement journal; and
    • preparation of a voucher for the amounts to be disbursed from the state treasury and a corresponding journal entry (refer to journal entry no. 13) to reduce the liability account.

UNIFORM CHART OF ACCOUNTS FOR URAS

A standard, four-digit code is used to classify the accounts.  The first digit identifies the major groupings of accounts, as follows:

1000-1999

Assets

2000-2999

Liabilities and Fund Balance

3000-3999

Revenues (Accrual basis)

4000-4999

Non-revenue Receipts (Accrual basis)

5000-5999

Collections (Cash basis)

6000-6999

Transfers

7000-9999

Unused for Revenue Accounting

 

The second digit is used for subsidiary classifications within the major groups.  The third and fourth digits identify the individual accounts.

The account coding is flexible so that each campus may add accounts as required to accommodate transactions that are unique to the campus.  Each campus may add sub-accounts at its discretion.  However, sub-accounts must be "rolled up" into their major account classification prior to submitting URAS reports.  The office of the university controller must first approve additional accounts added by campuses, which are not designated in the chart of accounts.  Each account will be added to the new URAS on-line module.  All requests must be submitted in writing.

ACCOUNT DESCRIPTIONS

1100 Cash

Cash on hand, in the local depositories, or in the collection fund at the state treasury.  Subsidiary accounts will be maintained for each bank account and imprest fund.  Petty cash advances received from OSC should be recorded in account no. 1150.

1300 - 1700 Accounts Receivable

Accounts receivable accounts for charges billed to students are included by major category.  These subsidiary accounts are provided for the analysis of cash collections, which is required for “due to” and "collection” account entries and revenue distributions.

A subsidiary ledger of individual student accounts will also be required.  The procedures for maintaining the subsidiary records will vary from campus to campus and are not defined in the uniform system. 

The undistributed receipts accounts nos. 1389 - 1399 are used to record various aid payments to be applied to student accounts and other payments that have not yet been specifically identified.

Delinquent accounts that are referred to the office of attorney general (OAG) and private collection agency for collection will be transferred to account nos. 1500 - 1599 and nos. 1700 – 1799 for control purposes.  Subsidiary accounts must be maintained by collection classifications for cash receipt analysis.  These accounts should be reconciled with the OAG and private collection agency records on a periodic basis.  Account nos. 1589 and 1789 are used to post collections received on accounts receivable balances but not yet specifically identified.

Account nos. 1600 – 1699 are contra-receivable accounts used to record the allowance for uncollectible accounts receivable pertaining to tuition, room rent, college fees, hospital and clinic revenues, and other charges.  The allowance recorded should be estimated based on past collection experience (including campus efforts and those of the OAG and private collection agency). 

2100 Accounts Payable

The 2100 category provides for the recording of two types of refund transactions.  Account no. 2110 - Refunds Due to Students should be utilized to accumulate bonafide student refunds (i.e., refunds that have been fully audited and proven, and represent monies to be paid to students).  All disbursements to students must be recorded in this account by accounting procedures illustrated in standard journal entry section (c).  Account no. 2120 - Refunds to State for Undistributed Student Aid should be utilized to accumulate TAP funds, which previously were applied against student charges but, because of student withdrawal, such monies must be returned to the State.

2300 Unremitted Collections

The liability to the University income fund (SUIF), University dormitory income fund (SUDIF) and other funds for cash collections will be credited to these accounts, with contra-debit entries to the nominal collection accounts (5000 series).  Similar debit entries will be made to record the amounts of revenues refunded by cash disbursements.  Account nos. 2311 - 2315 and 2331 - 2332 should be used to distinguish the liabilities for each of the University funds. 

The net credit balances for each semi-monthly cash cycle will be remitted to the appropriate fund and the amounts will be debited to the respective liability accounts within the subsequent 15-day period.

2400 Deferred Income

Accounts are provided to record revenue when advanced billings are made for an academic term.  These accounts should only be used for the summer term and/or the fall term if the campus bills prior to July 1.  Account no. 2405 - Deferred Income - Tuition, no. 2425-Deferred Income - Room Rent, no. 2460-Student Charges Billed in Advance and no. 2480 Deferred Revenue - Hospitals will record revenue billed to students in the advanced billing process.  The revenue associated with these accounts will be credited to the appropriate revenue accounts as the campus earns it.  Summer session revenue is not recognized until July 1 even if summer program starts prior to July 1.

Accounts are provided to record any cash receipts applicable to academic periods subsequent to their receipt. Account no. 2410 - Admission Deposits, no. 2420 - Room Deposits, and no. 2430 - Other Deposits record those prepayments by students.  The individual student balances are cleared when the deposits are credited to the charges billed to the students.  For each academic term, the balances remaining for unregistered students will be either refunded to the students or credited to the appropriate revenue accounts in accordance with University policy.

The account no. 2450 - Other Student Charges Collected in Advance is provided for payments received for charges to be billed in future academic periods.  An example would be the receipt of scholarship monies for a full academic year.  The balances are cleared by credits to student accounts in the appropriate academic periods.

The account no 2470 - Scholarships Private is provided to record amounts received for scholarships from private sources.  The balances are cleared by credits to student accounts in the appropriate academic periods.

2600 Exchange

This account is provided to accommodate campuses that use a “split-check” procedure to divide student scholarship and aid amounts into campus and student shares.  If used, the cash receipt credit and the cash disbursement debit to the account must be equal.

2900 Fund Balance

Each fiscal year, the nominal accounts for revenues and collections are closed to this account.  This account should not be adjusted on an interim basis.  If an adjustment is needed, it should be recorded in the appropriate revenue account and footnoted in the quarterly report. 

3000-3999 Revenues

The revenue accounts, maintained on the accrual basis, are generally organized in classifications recommended by the National Association of College and University Business Officers (NACUBO).  Accounts classified as revenues are further defined as those amounts that must be remitted to state funds when collected.  Within this range are various contra accounts to record waived/offset and written-off revenues.  Waived revenue is defined as that amount of recorded revenue that is not collected due to contractual agreements (e.g., UUP waivers).  The 3900 to 3998 accounts should be used to record the provision associated with the allowance for collectible accounts receivable and write-offs of bad debt.  Account no. 3999 is used to record fees paid to the OAG for collection efforts.

Account no. 3590-Hospital Contractual Allowance is used to create an allowance to cover any charges in contractual amounts for third-party liability.  Account no. 3914-Hospital and Clinics Non-contractual Allowance will be used exclusively as a provision for uncollectible hospital receivables.  Contra accounts are also used to record fringe benefit, administrative overhead, and maintenance and operation overhead assessed on income fund reimbursable accounts.

4000-4999 Non-revenue Receipts

The accounts contain two types of receipts:

The accounts are maintained on the accrual basis for any amounts that are billed in advance of collection.

5000-5999 Collections

The collection accounts are provided for the accumulation of revenue amounts on a cash basis. The accounts are designed to satisfy the requirements of OSC for classification of deposits made to funds held in the state treasury using the revenue transfer (AC-1370) process.

They are posted semi-monthly with the amounts of cash receipts and cash disbursements, the contra entries being to the unremitted collections liability accounts (2300 series).  When reconciled for beginning and ending semi-monthly cash transactions, the account totals for any fiscal period should equal the total distribution to state or other funds.

6000-6999 Transfers

The transfer accounts are used when activity has been transferred between funds.  NOTE: All transfer transactions must be backed up by appropriate documentation and available for university controller's office review.

LISTING OF STANDARD ACCOUNTS

Assets (1000-1999)

1100 Cash

1110

Cash in Bank

CU44

1111

Undistributed Cash to OSC (Collection Fund)

CU44

1112

Cash in Dorm T&F Account

CU44

1150

Petty Cash

CU44

1160

Change Fund    

CU44

 

 

1300 Student Receivable

1309

IFR Tuition

CU11, CU17

1311

Tuition  

CU11, CU17

1312

Miscellaneous Fees

CU10, CU11, CU17

1315

Food Service

CU10, OTHR

1317

Health Service Fee

CU10

1318

Miscellaneous SU Income Fund

CU10, CU11, CU17

1319

Due from HESC

CU11, CU44

1320

Due from DMNA

CU11

1321

Due from HESC – WTC

All Funds

1322

Health Insurance-Foreign & Scholars

CU10

1323

Intercollegiate Athletic Program

CU10

1324

Technology Fee

CU10

1331

Room Rent

CU30,OTHR

1332

College Fees

CU11

1337

Room Rent – Apts.

CU30, OTHR

1338

Miscellaneous SU Dormitory Income Fund

CU30, CU47

1381

Auxiliary Service Corporation Charges

OTHR

1385

Other Non-State Charges

OTHR

1386

AR Sales Tax

CU44

1387

Undistributed Receipts – Teach Grant

CU44

1388

AR Interest

CU10

1389

Undistributed Receipts

CU44

1390

Undistributed Receipts – TAP

CU44

1391

Undistributed Receipts - Pell Grants

CU44

1392

Undistributed Receipts – SEOG

CU44

1393

Undistributed Receipts – Perkins

CU44

1394

Undistributed Receipts - Other Financial Aid

CU44

1395

Undistributed Receipts - Time Payment Plan

CU44

1396

Undistributed Receipts – Acad. Competitiveness

CU44

1397

Undistributed Receipts – SMART Grant

CU44

1398

Title IV

CU17, CU44

1399

Credit Balances

CU44

 

 

1400 Other Accounts Receivable

1413

Sales and Services Educational Departments

CU11

1414

Hospital & Clinic – Inpatient

CU11, CU22, CU82, CU83

1415

Hospital & Clinic – Outpatient

CU22, CU46, CU82, CU83

1416

Hospital & Clinic – Due from 3rd Parties

CU22, CU82, CU83

1417

Hospital & Clinic – Third Party Advances

CU22, CU82, CU83

1419

AR – University Clinics

CU11

1420

AR Transportation

CU10

1424

Parking Program

CU10

1489

Undistributed Receipts – Hospitals

CU22, CU82, CU83

1490

Other Accounts Receivable – Other

All Funds

 

 

1500 Accounts Referred to the Attorney General

1509

Attorney General - IFR Tuition

CU11, CU17

1511

Attorney General – Tuition

CU11, CU17

1512

Attorney General – Misc. Fees

CU10, CU11, CU17

1513

Attorney General – Hosp. & Clinic – Inpatient

CU11, CU22, CU82, CU83

1514

Attorney General – Hosp. & Clinic – Outpatient

CU11, CU22, CU82, CU83

1515

Attorney General - Food Service 

CU10, OTHR

1517

Attorney General - Health Service

CU10, CU11

1518

Attorney General – Misc. SU Income Fund

CU10, CU11

1523

Attorney General - Intercollegiate Athletic

CU10

1524

Attorney General - Technology Fee

CU10

1531

Attorney General - Room Rent

CU30, OTHR

1532

Attorney General - College Fees

CU11

1538

Attorney General – Misc. Dormitory

CU30, CU47

1581

Attorney General – ASC Charges

OTHR

1585

Attorney General - Other Non-State Charges

OTHR

1586

Attorney General -  Sales Tax

CU44

1588

Attorney General – Interest

CU10

1589

Attorney General - Undistributed Receipts

CU11, CU44

1598

Attorney General – Title IV

CU17, CU44

 

 

1600 Allowance for Uncollectible Accounts Receivable

1611

Allowance - Tuition & Fees

CU11, CU17

1612

Allowance – Hospital & Clinics – Inpatient

CU11, CU22, CU82, CU83

1613

Allowance – Hospital & Clinics – Outpatient

CU11, CU22, CU82, CU83

1614

Allowance - Hospital & Clinic – Other

CU11, CU22, CU82, CU83

1615

Hospital & Clinic - Contractual Allow – Inpatient

CU22, CU82, CU83

1616

Hospital & Clinic - Contractual Allow – Outpatient

CU22, CU82, CU83

1617

Hospital & Clinic - Contractual Allow – Third Parties

CU22, CU82, CU83

1631

Allowance - Room Rent

CU30, OTHR

1632

Allowance - College Fee

CU11

1675

Allowance - Other State Charges

All Funds

1676

Allowance - Other Non-State Charges

OTHR

 

 

1700 Accounts Referred to Outside Collection Agency

1709

Coll. Agency - IFR Tuition

CU11, CU17

1711

Coll. Agency – Tuition

CU11, CU17

1712

Coll. Agency – Misc. Fees

CU10, CU11, CU17

1713

Coll. Agency – Hospital & Clinic – Inpatient

CU11, CU22, CU82, CU83

1714

Coll. Agency – Hospital & Clinic – Outpatient

CU11, CU22, CU82, CU83

1715

Coll. Agency - Food Service

CU10, OTHR

1717

Coll. Agency - Health Service

CU10, CU11

1718

Coll. Agency – Misc. SUIF

CU10, CU11

1723

Coll. Agency - Intercollegiate Athletic

CU10   

1724

Coll. Agency - Technology Fee

CU10

1731

Coll. Agency - Room Rent

CU30, OTHR

1732

Coll. Agency - College Fee

CU11

1738

Coll. Agency – Misc. Dormitory

CU30, CU47

1781

Coll. Agency - ASC Charges

OTHR

1785

Coll. Agency - Other Non-State

OTHR

1786

Coll. Agency - Sales Tax

CU44

1788

Coll. Agency – Interest

CU10

1789

Coll. Agency - Undistributed Receipts

CU11, CU44

1798

Coll. Agency – Title IV

CU17, CU44

 

 

Liabilities and Fund Balance (2000-2999)

2100 Accounts Payable

2100

Miscellaneous Accounts Payable

CU44

2110

Refunds Due to Students

All Funds

2120

Refunds Due to State – Undist. Student Aid

CU44

2121

Refunds Due to Other

CU44, CU22, CU82, CU83

2130

Hospital Accounts Payable

CU22, CU46, CU82, CU83

2150

Sales Tax Payable

CU44

 

 

2300 Un-remitted Collections

2311

Due to SUIFO

CU44

2312

Due to Hospital Operating

CU44

2313

Due to Regular IFR

CU44

2314

Due to Hospital IFR

CU44

2315

Due to SUTRA  

CU44

2331

Due to Dormitory Operating

CU44

2332

Due to Dormitory IFR

CU44

2333

Due to Dorm T&F Account

CU44

2339

Due to Restricted Current Fund (RCF)

CU44

2341

Due to RCF – Loan Fund

CU44

2345

Due to RCF - Endowment Fund

CU44

2350

Due to Other Campus

CU44

2361

Due to Student Loan & Aid Funds

CU44

2370

Due to General Fund

CU44

2381

Due to Auxiliary Service Corporation

CU44

2385

Due to Other Agency Accounts

CU44

2391

Due to Other

CU44

 

 

2400 Deferred Income

2405

Deferred Income – Tuition – Summer

CU11, CU17

2406

Deferred Income – Tuition – Fall

CU11

2407

Deferred Income – Tuition – Spring

CU11

2410

Deferred Income - Admissions Deposit

CU11, CU44

2420

Deferred Income - Room Deposit

CU30, CU44, OTHR

2425

Deferred Income - Room Rent – Summer

CU30

2426

Deferred Income - Room Rent – Fall

CU30

2427

Deferred Income - Room Rent – Spring

CU30

2430

Deferred Income - Other Deposits

CU11, CU30

2431

Deferred Income – Res. Hall Damage Deposits

CU30, CU44

2432

Deferred Income - Equipment Deposits

CU10, CU11

2433

Deferred Income – Res. Hall Com. Area Damage

CU30, CU44

2450

Student Charges Collected in Advance

All Funds

2460

Deferred Income - Billed in Advance – Summer

All Funds

2461

Deferred Income - Billed in Advance – Fall

All Funds

2462

Deferred Income - Billed in Advance – Spring

All Funds

2470

Deferred Income - Scholarships – Private

CU11, CU44

2480

Deferred Income – Hospitals

CU22, CU82, CU83

2490

Deferred Income – Other

CU44

 

 

2600 Exchange

2690

Other Exchange Transactions

CU44

 

 

2900 Fund Balance

2900

Fund Balance

All Funds

 

 

Revenue (3000-3999)

3110 Tuition

3111

Tuition – Summer

CU11, CU17

3112

Tuition  - Fall

CU11, CU17

3113

Tuition – Winter

CU11, CU17

3114

Tuition  - Spring

CU11, CU17

3115

Tuition - Other Current Terms

CU11, CU17

3117

Tuition - Prior Year – Summer

CU11, CU17

3118

Tuition - Prior Year Adjustments

CU11, CU17

 

 

3120     Tuition Offset

3121

Tuition Waiver – Summer

CU11, CU17

3122

Tuition Waiver - Fall

CU11, CU17

3123

Tuition Waiver – Winter

CU11, CU17

3124

Tuition Waiver – Spring

CU11, CU17

3125

Tuition Waiver - Other Current Terms

CU11, CU17

3128

Tuition Waiver - Prior Year Adjustments

CU11, CU17

 

 

3130     College Fees

3131

College Fees  - Summer

CU11

3132

College Fees – Fall

CU11

3133

College Fees – Winter

CU11

3134

College Fees – Spring

CU11

3135

College Fees - Other Current Terms

CU11

3138

College Fees - Prior Year Adjustments

CU11

 

 

3140 College Fee Waivers

3141

College Fee Waivers – Summer

CU11

3142

College Fee Waivers – Fall

CU11

3143

College Fee Waivers – Winter

CU11

3144

College Fee Waivers – Spring

CU11

3145

College Fee Waivers - Other Current Terms

CU11

3148

College Fee Waivers - Prior Year Adjustments

CU11

 

 

3170     Miscellaneous Fees and fines

3172

Late Registration

CU11, CU10

3174

Transcript

CU11, CU10

3175

Library

CU11, CU10

3176

Parking

CU11

3177

Admission Program

CU11, CU10

3178

Drop-Add

CU11, CU10

3179

Service Charge Bad Checks

CU11, CU10

3182

Application

CU11, CU10

3183

Late Payment

CU11, CU10

3184

Admission – Graduate

CU11, CU10

3185

Admission – Professional

CU11, CU10

3199

Misc. Fees & Fines Waiver

CU11

 

 

3200 Restricted Current Fund (RCF) Gifts, Grants and Endowments

3241

RCF - Gifts and Grants – Unrestricted

OTHR

3243

RCF - Gifts and Grants – Restricted

OTHR

3245

RCF - Endowment Income – Unrestricted

OTHR

3247

RCF - Endowment Income – Restricted

OTHR

3249

RCF - Endowment Income - SUNY Pool

OTHR

 

 

3300 Sponsored Research and Other Sponsored Programs (SUIFR, SUTRA &HIFR-IFR Categories)

3301

Technology Fee

CU10

3302

Athletic Fee

CU10

3303

Student Health Fee

CU10

3304

Course Related Fee

CU10, CU17

3307

Student Services-Use Fee

CU10

3308

Other Service-Use Fee

CU10, CU30

3309

Student Service-Use Athletic Fee

CU10

3310

Other Service-Use Athletic Fee

CU10

3311

Sponsored Research – Federal - Dir. -Res. Found.

CU10, CU17

3317

Campus-related Entities Reimbursement

CU10

3318

Research Foundation (RF) Reimbursement

CU10

3320

Sponsored Research – State – Dir. – RF

CU10, CU17

3330

Sponsored Research - Local Gov’t – Dir. – RF

CU10, CU17

3340

Sponsored Research – Other – Dir. – RF

CU10, CU17

3350

Other Sponsored Programs – Federal

CU10, CU17

3360

Other Sponsored Programs – State

CU10, CU17

3370

Other Sponsored Programs - Local Government

CU10, CU17

3375

Other Sponsored Programs  - Private Gifts

CU10

3376

Capital Gifts

CU10, CU30

3380

Other Sponsored Programs – Other

CU10, CU17

3381

Other Sponsored Programs – Hospital & Clinic

CU10, CU46

3382

Transportation Fee

CU10

3383

Other Sponsored Programs – Parking

CU10, CU47

3384

OSP - Campus Share Administrative Overhead

CU10, CU47

3385

OSP - Intercollegiate Athletics

CU10

3386

OSP – Health Services

CU10

3387

Health Insurance Foreign & Scholars

CU10

3389

Interest Income

CU10, CU11, CU30, CU46, CU22, CU82, CU83

3391

Assessed Fringe Benefits

CU10, CU17, CU46

3392

Assessed Administrative Overhead

CU10, CU17, CU46

3393

Assessed Maint. and Operation Overhead

CU10, CU17, CU46

3394

Assessed Flat Rate - Fringe Benefits

CU17

3395

Assessed Flat Rate – Admin. OH

CU17

3396

Assessed Flat Rate – M&O

CU17

3397

Debt Service Assessment

CU22, CU82, CU83

3398

Hospital Appeal Assessment

CU22, CU82, CU83

3399

Other Sponsored Programs – Waivers

CU10

 

 

3400 Sales and Services - Educational Departments

3400

Sales and Services Ed. Departments

CU11

 

 

3500 Hospital and Clinics Income

3510

Hospital Inpatient Services

CU22, CU82, CU83

3511

Hospital Outpatient Services

CU22, CU82, CU83

3512

Hospital State Subsidy Income

CU22, CU82, CU83

3513

Medicaid Disproportionate Share

CU22, CU82, CU83

3514

NYHCRA Pools

CU22, CU82, CU83

3515

Hospital Non-recurring

CU22, CU82, CU83

3516

Hospital Long Island Veterans Home

Stony Brook – CU09

3517

Hospital Patient Care Prior Year 

CU22, CU82, CU83

3518

Hospital Patient Care Extended Phase-In

CU22, CU82, CU83

3519

Hospital Income – Other

CU22, CU82, CU83

3530

University Clinics

CU11, CU22, CU82, CU83

3531

Hospital Medicaid IAAF

CU22, CU82, CU83

3532

Hospital Medicaid DSRIP

CU22, CU82, CU83

3585

Hospital Part A and B Payments

CU22, CU82, CU83

3590

Hospital Contractual Allowance – Inpatient

CU11, CU22, CU82, CU83

3591

Hospital Contractual Allowance – Outpatient

CU11, CU22, CU82, CU83

3592

Hospital Contractual Allowance – 3rd Parties

CU11, CU22, CU82, CU83

 

 

3600 Other Sources of Income

3612

State Support

CU11

3618

Cash Over and Short

CU11

3619

Other SUIF Income

CU11

3631

Other Telephone

CU11

3639

Other Dormitory Income

CU30

3670

Other General Fund Income

OTHR

3680

Transfers From Other Funds

All Funds

3681

Transfer From Other Funds-Rental Reserve

CU11, CU30

3688

Interest Income-Federal Subsidy

CU30

3690

Miscellaneous Other

All Funds except OTHR

 

 

3800 Auxiliary Enterprises Income

3810 Room Rentals

3811

Room Rent – Summer

CU30, OTHR

3812

Room Rent – Fall

CU30, OTHR

3813

Room Rent – Winter

CU30, OTHR

3814

Room Rent – Spring

CU30, OTHR

3815

Room Rent - Other Current Terms

CU30, OTHR

3816

Room Rent – Guests

CU30, OTHR

3818

Room Rent - Prior Year Adjustments

CU30, OTHR

 

 

3820 Room Rental Waivers

3821

Room Rent Waivers – Summer

CU30, OTHR

3822

Room Rent Waivers – Fall

CU30, OTHR

3823

Room Rent Waivers – Winter

CU30, OTHR

3824

Room Rent Waivers – Spring

CU30, OTHR

3825

Room Rent Waivers - Other Current Terms

CU30, OTHR

3828

Room Rent Waivers - Prior Year Adjustments

CU30, OTHR

 

 

3830 Other Sponsored Programs (DIFR-IFR)

3831

OSP – Federal

CU47

3832

OSP – State

CU47

3833

OSP – Local Government

CU47

3834

OSP – Other

CU47, OTHR

3836

OSP – Parking

CU47

 

 

3840 Other Sponsored Programs - Assessments

3841

Assessed Fringe Benefit

CU47

3842

Assessed Administrative Overhead

CU47

3843

Assessed Maintenance Overhead

CU47

3845

Assessed Equipment Reserves

CU47

3849

Waivers

CU47

 

 

3900 Provision for Uncollectible Accounts

3909

Uncoll. Prov. - Tuition & Fees Tax Offset 

CU11, CU17

3911

Uncoll. Prov. - Tuition & Fees Allowance 

CU11, CU17

3912

Uncoll. Prov. - Tuition & Fees Campus Bad Debt 

CU11, CU17

3913

Uncoll. Prov. - Tuition & Fees AG Bad Debt

CU11, CU17

3914

Hospital & Clinics Bad Debt Allowance – Inpatient

CU11, CU22, CU82, CU83

3915

Hospital & Clinics Non Contractual Bad Debt

CU11, CU22, CU82, CU83

3916

Hospital & Clinics Bad Debt Allowance–Outpatient

CU11, CU22, CU82, CU83

3917

Hospital & Clinics Non Contractual Tax Offset

CU11, CU22, CU82, CU83

3931

Uncoll. Prov. - Room Rent Allowance

CU30, OTHR

3932

Uncoll. Prov. - Room Rent Campus Bad Debt

CU30

3933

Uncoll. Prov. - Room Rent AG Bad Debt 

CU30

3934

Uncoll. Prov.- Room Rent Tax Offset

CU30

3935

Uncoll. Prov. - College Fee Allowance

CU11

3936

Uncoll. Prov. - College Fee Campus Bad Debt

CU11

3937

Uncoll. Prov. - College Fee AG Bad Debt

CU11

3938

Uncoll. Prov. - College Fee Tax Offset

CU11

3972

Uncoll. Prov. - Other State Charges Tax Offset

All Funds

3973

Prov. - Other State Charges Campus Bad Debt

All Funds

3974

Uncoll. Prov. - Other State Charges AG Bad Debt

All Funds

3975

Uncoll. Prov - Other State Charges Allowance

All Funds

3976

Uncoll. Prov-Other Non-State Charges Allowance

OTHR

3977

Other Non-State Charges Campus Bad Debt

OTHR

3978

Other Non-State Charges AG Bad Debt

OTHR

3979

Other Non-State Charges Tax Offset

OTHR

3998

Uncoll. Prov. – Title IV Bad Debt

CU10, CU11, CU17, CU30 OTHR

3999

Collection Fee

All Funds

 

 

Non-revenue Receipts (4000-4999)

4100 Student Activity Fees

4111

Student Activity Fees – Summer

OTHR

4112

Student Activity Fees – Fall

OTHR

4113

Student Activity Fees – Winter

OTHR

4114

Student Activity Fees – Spring

OTHR

4115

Student Activity Fees - Other Current Terms

OTHR

4118

Student Activity Fees - Prior Year Adjustments

OTHR

4119

Student Activity Fees - Write-Off of AR

OTHR

 

 


4120 Student Activity Fee Waivers

4121

Student Activity Fee Waiver – Summer

OTHR

4122

Student Activity Fee Wavier – Fall

OTHR

4123

Student Activity Fee Waiver – Winter

OTHR

4124

Student Activity Fee Waiver – Spring

OTHR

4125

Student Activity Fee Waiver - Other Curr. Terms

OTHR

4128

Student Activity Fee Waiver - Prior Year Adj.

OTHR

 

 


4200 Class Dues

4211

Class Dues – Summer

OTHR

4212

Class Dues – Fall

OTHR

4213

Class Dues – Winter

OTHR

4214

Class Dues – Spring

OTHR

4215

Class Dues - Other Current Terms

OTHR

4218

Class Dues - Prior Year Adjustments

OTHR

4219

Class Dues - Write-Off of Accounts Receivable

OTHR

 

 


4300 Food Service

4351

Food Service – Summer

CU10, OTHR

4352

Food Service – Fall

CU10, OTHR

4353

Food Service – Winter

CU10, OTHR

4354

Food Service – Spring

CU10, OTHR

4355

Food Service - Other Current

CU10, OTHR

4358

Food Service – Prior Year Adjustments

CU10, OTHR

4359

Food Service – Write Off

CU10, OTHR

4361

Food Service Waiver – Summer

CU10, OTHR

4362

Food Service Waiver – Fall

CU10, OTHR

4363

Food Service Waiver – Winter

CU10, OTHR

4364

Food Service Waiver – Spring

CU10, OTHR

4365

Food Service Waiver – Other

CU10, OTHR

4368

Food Service Waiver – Prior

CU10, OTHR

 

 


4500 Insurance Premiums

4511

Insurance Premiums – Summer

OTHR

4512

Insurance Premiums – Fall

OTHR

4513

Insurance Premiums – Winter

OTHR

4514

Insurance Premiums – Spring

OTHR

4515

Insurance Premiums - Other Current Terms

OTHR

4518

Insurance Premiums - Prior Year Adjustments

OTHR

4519

Insurance Premiums - Write-Off of AR

OTHR

 

 


4600 Miscellaneous Agency Receipts

4610

Misc. Auxiliary Service Corporation Income

OTHR

4619

Write-off Miscellaneous Agency Receivables

OTHR

4640

Miscellaneous Agency Receipts – Other

OTHR

4641

Alumni Dues

OTHR

4689

SU Special Programs

OTHR

 

 


4750 Student Loan Transfers

4751

Student Loan Transfers To-From RCF

OTHR

4755

Student Loan Transfers To-From Endowment

OTHR

4760

Readers Aid

OTHR

 

 


4880 Student Loan and Aid Funds (Loans)

4881

Perkins – Federal

OTHR

4882

Perkins – State

OTHR

4883

HPSL – Federal

OTHR

4884

HPSL – State

OTHR

4885

NSL  - Federal

OTHR

4886

NSL  - State

OTHR

4887

TEACH GRANT

OTHR

 

 


4890 Student Loan and Aid Funds (Grants & Scholarships)

4891

Nursing Scholarship

OTHR

4892

Pell Grant

OTHR

4893

SEOG

OTHR

4894

Other Grants & Scholarships

OTHR

4895

Acad. Competitiveness

OTHR

4896

SMART Grants

OTHR

 

 


4900 Refunds Appropriation Expenditures

4900

 Refunds Appropriation Expenditures

OTHR

 

 


Collections (5000-5999)

5100 Collections – Income Offset Fund Tuition and Fees and Food Service Activity

5107

Tuition Advance Summer

CU11, CU17

5108

Tuition Advance Deposits

CU11, CU17

5109

Tuition – Special

CU11

5111

Tuition – Summer

CU11, CU17

5112

Tuition – Fall

CU11, CU17

5113

Tuition – Winter

CU11, CU17

5114

Tuition – Spring

CU11, CU17

5115

Tuition - Other Current Terms

CU11, CU17

5116

Tuition - Prior Year

CU11, CU17

5117

Tuition - Prior Year – Summer

CU11, CU17

5118

Transfer From-To Other Funds

CU11

5119

Transfer From-To Other Funds - Tuition Summer

CU11

5123

Miscellaneous Fees and Fines - Non IFR

CU11

5124

Miscellaneous Fees and Fines – IFR

CU11, CU10

5125

Graduate-Professional Fees

CU11, CU10

5128

Transfer From-To Other Funds – Fees

CU11

5129

Transfer To Graduate-Professional Fees-IFR

CU11

5130

Sales and Services - Educational Departments

CU11

5132

State Support

CU11

5140

Organized Activities

CU11

5151

Food Service – Summer

CU10

5152

Food Service – Fall

CU10

5153

Food Service – Winter

CU10

5154

Food Service – Spring

CU10

5155

Food Service - Other Current Terms

CU10

5158

Food Service - Prior Year Adjustments

CU10

5160

Student Health Services

CU10

5161

Health Insurance Foreign & Scholars

CU10

5180

Other - Unrestricted Sources

CU11

 

 


5200 Income Fund Reimbursable Fees

5201

Technology Fees

CU10

5202

Athletic Fee

CU10

5203

Student Health Fee

CU10

5204

Course Related Fee

CU10

5207

Student Service-Use Fee

CU10

5208

Other Service-Use Fee

CU10, CU30

5209

Student Service-Use Athletic Fee

CU10

5210

Other Service-Use Athletic Fee

CU10

 

 


5230 Sponsored Research and Affiliated Entity Reimbursement

5231

Sponsored Research Federal – Dir.- RF

CU10

5235

Sponsored Research State – Dir. - RF

CU10

5236

Sponsored Research Local Gov’t – Dir. - RF

CU10

5237

Campus-related Entities Reimbursement

CU10

5238

RF Reimbursement

CU10

5239

Sponsored Research – Other – Dir – RF

CU10

 

 


5240 Other Sponsored Programs

5241

Other Sponsored Program – Federal

CU11, CU10, CU17

5243

Indirect Costs- IFR

CU10, CU46

5244

Indirect Costs – SUTRA

CU17

5245

Other Sponsored Program – State

CU10, CU17

5246

Other Sponsored Program - Local Gov’t

CU10, CU17

5247

Hospital & Clinic

CU10, CU46

5248

Intercollegiate Athletics

CU10

5249

Other Sponsored Program – Other

CU10, CU17

5250

Parking

CU10, CU47

5251

Transportation Fee

CU10

5255

Private Gifts

CU10

5256

Capital Gifts

CU10

5269

Interest

ALL Funds except OTHR

5274

Transfer From - To Grad-Prof. Fees

CU10

5275

Transfer – Interdepartmental

ALL Funds except OTHR

5276

Transfer From - To Other Funds - HIFR-IFR

CU46

5277

Transfer From - To Other Funds - Tuition-Summer

CU10, CU17

5278

Transfer From -To Other Funds – Tuition

CU10, CU17

5279

Transfer From -To Other Funds – IFR

CU10

 

 


5300 Collections Room Rent

5307

Room Rent Advanced Summer                           

CU30, OTHR

5308

Room Rent Advanced Deposits                          

CU30, OTHR

5311

Room Rent – Summer                                       

CU30, OTHR

5312

Room Rent – Fall                                              

CU30, OTHR

5313

Room Rent – Winter                                          

CU30, OTHR

5314

Room Rent – Spring                                          

CU30, OTHR

5315

Room Rent - Other Current Terms                      

CU30, OTHR

5316

Room Rent – Other                                           

CU30

5317

Room Rent – Guests                                         

CU30, OTHR

5318

Room Rent - Prior Year Adjustments                  

CU30, OTHR

 

 

5320 Collections College Fees

5321

College Fees – Summer                                    

CU11

5322

College Fees – Fall                                           

CU11

5323

College Fees – Winter                                       

CU11

5324

College Fees – Spring                                       

CU11

5325

College Fees - Other Current Terms                    

CU11

5328

College Fees - Prior Year Adjustments               

CU11

 

 


5340 Other Sponsored Programs (DIFR-IFR categories)

5340

OSP DIFR-IFR                                                  

CU47

5341

OSP DIFR-IFR – Federal                                   

CU47

5342

OSP DIFR-IFR – State                                      

CU47

5343

OSP DIFR-IFR - Indirect Costs                           

CU47

5344

OSP DIFR-IFR – Local Gov’t                              

CU47

5349

OSP – Other                                                    

CU47

 

 


5380 Other Sources

5380

Other SUDIF Sources                                        

CU30

5381

Other – Transfers                                              

CU11, CU10, CU30, CU47

5383

Other Sources – Federal Interest Subsidy           

CU30

 

 


5400 Collections - State University Restricted Current Fund

5410

RCF Gifts & Grants                                           

OTHR

5420

RCF Endowments                                             

OTHR

5480

RCF Miscellaneous Sources                              

OTHR

 

 


5500 Collections – Hospital and Clinics

5510

Hospital Inpatient Services                                 

CU22, CU82, CU83

5511

Hospital Outpatient Services                              

CU22, CU82, CU83

5512

Hospital State Subsidy Transfer                         

CU22, CU82, CU83

5513

Medicaid Disproportionate Share            

CU22, CU82, CU83

5514

NYHCRA Pools

CU22, CU82, CU83

5515

Hospital Non-recurring                                       

CU22, CU82, CU83

5516

Hospital Income Long Island Veterans Home       

Stony Brook - CU09

5517

Hospital Patient Care Prior Year                         

CU22, CU82, CU83

5518

Hospital Patient Care Extend Phase-in               

CU22, CU82, CU83

5519

Hospital Income Other                                       

CU22, CU82, CU83

5530

University Clinics                                              

CU11, CU22, CU82, CU83

5531

Hospital Medicaid IAAF

CU22, CU82, CU83

5532

Hospital Medicaid DSRIP

CU22, CU82, CU83

5578

Transfers From-To Other Funds – Subsidy          

CU22, CU82, CU83

5579

Transfers From-To Other Funds – Hospital          

CU22, CU82, CU83

 

 


5600 Collections - Other State University Funds

5610

Other SU Student Loan Center

OTHR

5690

Refunds of Appropriation Expenditures                

All Funds

 

 


5700 Collections - General Fund

5780

General Fund Miscellaneous Sources                 

OTHR

 

 


5800 Collections - Agency Funds

5810

Auxiliary Service Corporation                              

OTHR

5812

Agency Fund Student Insurance                         

OTHR

5815

Auxiliary Service Corporation Food Service          

OTHR

5820

Student Association                                          

OTHR

5821

Class Dues                                                      

OTHR

5822

Student Activity Fees                                        

OTHR

5823

Emergency Service                                           

OTHR

5829

Other                                                               

OTHR

5831

Alumni Dues                                                     

OTHR

5850

Other Accounts                                                

OTHR

5851

Student Revolving Loan                                      

OTHR

5853

Readers Aid Assistance                                    

OTHR

5859

Other Accounts – Other                                     

OTHR

 

 


Transfers (6000-6999)

6000

Intra Fund Transfers                                          

ALL FUNDS

 

 

 

STANDARD JOURNAL ENTRIES

The standard journal entries, which are illustrated in this section, are designed to accommodate the normal flow of accounting data from the data sources to the general ledger accounts.  The illustrative entries are numbered for reference purposes but in actual practice, several entries of a single type may occur in a single fiscal period.  For example, two cash receipt entries (JE #7), one for each semi-monthly period, will be made in each month.

Although the content of each entry is standardized and records specific transactions of the accounting system, the record formats of the entries may vary at the option of each campus.  A manually posted general journal book may be used, cash entries might be posted directly from summaries in cash receipt or disbursement journals, and computer - printed journals might contain printed summaries by account.  The general ledger might also be automated at some campuses.

GENERAL ACCOUNTING CYCLES

The logic of the detailed journal entries is more readily explained by isolating several of the accounting cycles in simplified journal entry examples.

Student Billing, Collection and Cash Remittance

  1. Students are billed for semester charges:

    Debit:  The appropriate student receivable accounts
    Credit: The appropriate revenue accounts

    Note: for the summer semester if students are billed before June 30th the majority of the campuses will credit the deferred income accounts and recognize the summer revenue in the following fiscal year.

 

  1. Cash is received from students and other sources for billed and unbilled charges:

    Debit:  Cash
    Credit: The appropriate student receivable accounts (billed charges)
    Credit: The appropriate revenue accounts (unbilled receipts)

 

  1. The liability to state funds for the cash collections is recorded for each semi - monthly remittance cycle:

    Debit:  The appropriate collections accounts
    Credit: The appropriate un-remitted collections liability accounts

    Note: in order to distribute the cash collections to the appropriate state funds the campus must process a revenue transfer transaction (AC1370) on the University Accounting System (see AC1370 procedures).

 

  1. The cash is periodically transferred from the local depository to the campus collection fund (344-xx).  This is done via wire transfers processed at the bank:

    Debit:  Undistributed Cash to OSC
    Credit: Cash

 

  1. Within the subsequent 15 days the semi-monthly collections are transferred from the collection fund to other funds (via AC1370):

    Debit:  The appropriate un-remitted collections accounts
    Credit: Undistributed Cash to OSC

Cash Receipts Distribution to Sub-accounts

Subsidiary accounts in student receivables are provided to maintain the revenue classifications which are required for the collections accounts.  A sub-account, undistributed receipts, is provided in the student receivable accounts to which cash receipts may be posted, either by computer or manually, pending the subsequent analysis of the receipts,.

  1. The semi-monthly cash receipts journal is closed and the receipts are posted to the accounts:

    Debit:  Cash
    Credit: The appropriate student receivable-undistributed receipts (i.e., TAP, PELL, SEOG)
    Credit: Student Receivable-Tuition
    Credit: Student Receivable-Room Rent
    Credit: Student Receivable-Food Service
    Credit: Revenue-Sponsored Research - Federal
     

 

  1. Within the subsequent semi-monthly period, the undistributed receipts for the semi - monthly period must be analyzed and distributed to the respective sub accounts:

    Debit:  The appropriate student receivable-undistributed receipts
    Credit: Student Receivable-Tuition
    Credit: Student Receivable-Room Rent 
    Credit: Student Receivable-Food Service

 

  1. The liability for the total cash receipts is recorded, using the initial cash receipts journal distribution plus the subsequent analysis of the undistributed receipts:

    Debit:  Collections - Tuition
    Debit:  Collections - Room Rent
    Debit:  Collections - SUIFR -Sponsored Research - Federal
    Debit:  Collections - ASC - Food Service  
    Credit: Un-remitted Collections – Due to SUIFO
    Credit: Un-remitted Collections – Due to Regular IFR
    Credit: Un-remitted Collections – Due to Dorm T&F Account
    Credit: Un-remitted Collections – Due to ASC

Refunds to Students

All disbursements to students which result from overpayment of charges for tuition, fees, etc., will be debited to the liability account, refunds to students.  All credits to students for registration changes, tuition waivers, tuition payments from state financial aid appropriations, etc., will initially be credited to the accounts receivable - credit balance account rather than by direct cash disbursements to the students.  Then any credit balances in the accounts can be systematically audited and transferred to the liability account for disbursement.

  1. Audited credit balances in student tuition and fees receivable credit balance account will be transferred to the liability account:

    Debit:  Student Tuition Receivable-(Which has a Credit Balance)
    Credit: Accounts Payable-Refunds Due to Students

 

  1. Cash payments will be made to students via the cash disbursement journal.  Disbursements should be concurrent with the determination of valid credit balances for entry #1 above, and checks can be prepared from the same audited student list:

    Debit:  Accounts Payable-Refunds Due to Students
    Credit: Cash

 

  1. A collection entry is necessary for all such disbursements to record the refund of revenues which were previously remitted to the state. The account detail should be readily available from the same source as entry #1 above:

    Debit:  Due to SUIFO
     
    Credit: Collections - Tuition
     

SPECIFIC TRANSACTIONS

There are several specific transactions that affect the general accounting cycle and are more readily explained in simplified journal entry examples.

Exchange for financial aid transactions (e.g., Student Loans)

  1. Cash is received from student and exchange is established:

Debit: Cash

Credit: The appropriate student receivable account

Credit: Exchange

  1. The liability to state funds for the cash collection to the extent applied to accounts receivable is recorded:

    Debit:  The appropriate collections account
    Credit: The appropriate un-remitted collections liability accounts

 

  1. The cash is periodically transferred from the local depository to the campus collection fund:

    Debit:  Undistributed cash to OSC
    Credit: Cash

 

  1. An exchange check is issued to the student for amount of the overpayment:

    Debit:  Exchange
    Credit: Cash

 

  1. The collection is transferred from the collection fund to other funds: 

    Debit:  The appropriate un-remitted collections accounts
    Credit: Undistributed Cash to OSC

TAP Variable Percentage Lump Sum Prepayment

  1. To record variable percentage TAP lump sum pre-payment when campus receives payment of funds from HESC (Higher Education Services Corporation):

    Debit:  1110 Cash (CU44)
    Credit: 1390 Undistributed Receipts – TAP (CU44)

 

  1. To record distribution of the TAP funds to individual student accounts receivable:

    Debit:  1390 Undistributed Receipts – TAP (CU44)
    Credit: 1311 Accounts Receivable – Tuition (CU11)

 

  1. To record the liability to other state funds for the cash collection:

    Debit:  5112 Collections – Tuition – Fall (CU11)
    Credit: 2311 Due to SUIFO (CU44)

 

  1. To record the revenue transfer (via AC1370) from the collection fund to SUIFO:

    Debit:  2311 Due to SUIFO (CU11)
    Credit: 1111 Undistributed Cash to OSC (CU44)

    Below is an alternative entry (# 2 above) for campuses applying 100% to student accounts receivable, rather than the variable percentage, upon receipt of the lump-sum payment.  This procedure is optional and designed for those campuses that have a need to specifically identify the difference between the amount received and the amount credited to student accounts receivable, i.e., the amount potentially due from HESC at the time:

    # 2.  (Alternate)

    Debit:  1390 Undistributed Receipts – TAP (CU44)
    Debit:  1319 Balance Due from HESC (CU44)
    Credit: 1311 Accounts Receivable Tuition (CU11)

    # 3.  Same as # 3 above (which is only for the amount of TAP cash received from HESC)

    # 4.  Same as # 4 above

    Use of this alternative method will also require the following entries (# 5 & # 6) as awards are adjusted and additional monies are received throughout the year:

 

  1. As remittance invoices are received, some students (previously credited above) are now deemed ineligible or over-awarded.  The entry to record this is:

    Debit:  1311 Accounts Receivable Tuition (CU11)
    Credit: 1319 Balance Due from HESC (CU44)

Debit: 2311 Due to SUIFO (CU44)

Credit: 5112 Collections – Tuition – Fall (CU11)

  1. To record additional TAP monies received:

    Debit:  1110 Cash (CU44)
    Credit: 1319 Balance Due from HESC (CU44)

    In addition, each campus has the option of reversing entries involving the 1319 account.

Tuition Waiver for UUP (United University Professions) Employees

  1. Recognition of revenue for eligible enrollment:

    Debit:  1311 Tuition Receivable (CU11)
    Credit: 31xx Tuition Revenue (CU11)

 

  1. Recognition of waived charges:

    Debit:  312x Tuition - Waiver (contra revenue account) (CU11)
    Credit: 1311 Tuition Receivable (CU11)

Tuition Waiver Reimbursement

  1. Student billed for tuition charges at gross:

    Debit:  1311 Tuition Receivable (CU11)
    Credit: 31xx Tuition Revenue (CU11)

 

  1. Campus accepts and honors tuition waiver in lieu of payment:

    NO URAS ACCOUNTING EFFECT

 

  1. Campus prepares special charge voucher charging the appropriate campus:

    NO URAS ACCOUNTING EFFECT

 

  1. Campus receives check for waiver:

    Debit:  1110 Cash (CU44)
    Credit: 1311 Tuition Receivable (CU11)

 

  1. The liability to state funds for the cash collection is recorded:

    Debit:  51xx Collections – Tuition (CU11)
    Credit: 2311 Due to SUIFO (CU11)

 

  1. The cash is periodically transferred from the local depository to the campus collection fund:

    Debit:  1111 Undistributed Cash to OSC (CU44)
    Credit: 1110 Cash (CU44)

 

  1. To record the revenue transfer (via AC1370) from the collection fund to SUIFO:

    Debit:  2311 Due to SUIFO (CU44)
    Credit: 1111 Undistributed Cash to OSC (CU44)

Room Rent Waiver Reimbursement

  1. Student billed for room rental charges at gross:

    Debit:  1331 Room Rental Receivable (CU30 / Other)
    Credit: 38xx Room Rental Revenue (CU30 / Other)

 

  1. Campus accepts and honors Room Rental Waiver in lieu of payment:

    Debit:  38xx Room Rental Waivers (contra-revenue account) (CU30 / Other)
    Credit: 1331 Room Rental Receivable (CU30 / Other)

 

Allowance for Uncollectible Accounts Receivable

Campuses are required to calculate an allowance for uncollectible accounts receivable each quarter.  The objective in calculating an allowance is to present the net realizable value (collectible value) of the accounts receivable balance.  It is not to present the balance of accounts actually written off during the year.  An allowance should be calculated for each major category of receivables (tuition, room rent, hospital, IFR fees, college fees, etc.).

  1. ALLOWANCE - Campus records allowance for current fiscal period:

    Debit:  39xx The appropriate provision for uncollectible accounts - allowance (contra-revenue accounts)
    Credit: 16xx The appropriate allowance for uncollectible accounts receivable (contra-asset accounts)

    Note that the primary source for this entry will be the calculation of the required allowance each quarter (described below).

 

  1. WRITE-OFFS - Campus writes off a student account:

    Debit:  39xx The appropriate provision for uncollectible accounts - bad debt
    Credit: 13xx, 14xx, 15xx, 17xx The appropriate accounts receivable account

    This entry would be applicable to both OAG authorized write-offs and local write-offs (refer to write-off of student delinquent accounts receivable procedures).

 

  1. RECOVERIES - Campus receives a payment on an account that was previously written off:

    Debit:  1110 Cash
    Credit: 39xx The appropriate provision for uncollectible accounts - bad debt

    When collections related to the recovery are recorded, they should be classified in the category in which the revenue was originally recorded (i.e., tuition, room, miscellaneous income, etc.).

Allowance Calculation for Tuition, Room, and Other State Accounts Receivable

The following percentages should be applied to the balances in the aged accounts receivable report to compute the allowance for uncollectible accounts for tuition, room, and other state accounts receivable.  These percentages were calculated based on a University - wide aging analysis of past accounts receivable collections.

Aging Past Due                                                   Allowance

 

Current semester                                                     1%

Previous semester to 1 year old                            10%

+ 1 year to 2 years old                                           35%

+ 2 years to 3 years old                                         50%

+ 3 years to 4 years old                                         75%

Over 4 years old                                                  100%

 

 

Aging past due by semester, using the 2003/04 fiscal year as an example, is included below.

 

As of September 30, 2003

 

(note: current semester is fall 2003)

 

 

1 year old

fall 2002

+1 years old – 2 years old

summer 2002 – fall 2001

+ 2 years old – 3 years old

summer 2001 – fall 2000

+ 3 years old – 4 years old

summer 2000 – fall 1999

Over 4 years old

summer 1999 and older

 

 

 

As of December 31, 2003

 

(note: current semester is fall 2003)

 

 

1 year old

fall 2002

+1 years old – 2 years old

summer 2002 – fall 2001

+ 2 years old – 3 years old

summer 2001 – fall 2000

+ 3 years old – 4 years old

summer 2000 – fall 1999

Over 4 years old

summer 1999 and older

 

 

 

As of March 31, 2004

 

(note: current semester is spring 2004)

 

 

1 year old

spring 2003

+1 years old – 2 years old

fall 2002 – spring 2002

+ 2 years old – 3 years old

fall 2001 – spring 2001

+ 3 years old – 4 years old

fall 2000 – spring 2000

Over 4 years old

fall 1999 and older

 

 

 

As of June 30, 2004

 

(note: current semester is summer 2004)

 

 

1 year old

summer 2003

+1 years old – 2 years old

spring 2003 – summer 2002

+ 2 years old – 3 years old

spring 2002 – summer 2001

+ 3 years old – 4 years old

spring 2001 – summer 2000

Over 4 years old

spring 2000 and older

 

 

For example, an allowance calculation for tuition and room accounts receivable would be as follows:

Aging*                          

Tuition

Allowance

Room

Allowance

Current semester

200,000 x     1%

  2,000

25,000 x     1%

     250

+ 1 day to 1 year old

120,000 x   10%

12,000

20,000 x   10%

  2,000

+ 1 year to 2 years old

  40,000 x   35%

14,000

15,000 x   35%

  5,250

+ 2 years to 3 years old

  25,000 x   50%

12,500

10,000 x   50%

  5,000

3 years to 4 years old

  20,000 x   75%

15,000

 8,000   x   75%

  6,000

Over 4 years old

  94,500 x 100%

94,500

31,500 x 100%

31,500

Total

 

150,000

 

50,000

 

 

*  Source:  aging accounts receivable general ledger balance (1300's, 1500’s, and 1700's).

The allowance account should be adjusted to reflect the calculated allowance.  For example, if the current balance in the tuition allowance account is $130,000 then the following entry is needed to increase the allowance balance (150,000-130,000):

Debit:  3911 Provision-Tuition Allowance (CU11)        20,000
Credit: 1611 Allowance-Tuition A/R (CU11)                 20,000

Allowance Calculation for Hospital Accounts Receivable:

Hospitals need to recognize the difference between an allowance for uncollectible accounts and contractual allowances.

The allowance for uncollectible accounts receivables would generally pertain to those patient receivables classified as self pay.  This allowance could conceivably be calculated using the same methodology used for tuition and room receivables.  However, hospitals may consider alternative procedures such as comparing cash receipts to billed revenue or a reasonable aging based on days in receivable status in calculating an allowance.

Contractual allowances are based upon third party reimbursement rates and are usually established when services are billed.  The methodology used to calculate an allowance for tuition and room receivables cannot be applied to contractual allowances.  Instead, hospitals should base this allowance calculation on their experience with third party reimbursement.

Write-offs and Recoveries

Write-offs and recoveries are recorded by entries directly to the bad debt provision, as with tuition, hospital, room rent, college fee, etc.

For example, the OAG informs the campus that they should write off $1,200 in accounts receivable and record the collection of $100 on previously written off accounts.  The following entries should be made to record this activity:

Debit:  1110 Cash                                                           100
Debit:  3974 Allowance-Other State Charges  
A/G Bad Debt                                                             1,200
Credit: 3974 Allowance-Other State Charges
A/G Bad Debt                                                                100
Credit: 1500 Attorney General Accounts Receivable     1,200

For example, the OAG informs the campus that $1,000 was collected from a student's state income tax return.  $600 towards tuition charges and $400 towards room rent charges.  The following entries should be made to record this activity:

Debit:  3909 Tuition & Fees Tax Offset (CU11)             600
Debit:  3934 Room Rent Tax Offset (CU30)                   400
Credit: 1511 AG Tuition A/R (CU11)                             600
Credit: 1531 AG Room Rent A/R (CU30)                      400

Collection on Accounts Receivable by Attorney General

  1. Campus receives cash from OAG on past due accounts receivable.  Note the accounts receivable balance can be for a number of categories (i.e., tuition, room, fees) but using tuition as our example:

    Debit:  1110 Cash (78%) (CU44)
    Debit:  3999 Attorney General Collection Fee (22%) (CU11)
    Credit: 1511 Attorney General Accounts Receivable – Tuition (100%) (CU11)
    Debit:  5110 Collections-Tuition (78%) (CU11)
    Credit: 2311 Due to SUIFO (CU44)

 

  1. Campus receives cash from OAG on an account that was previously written off:

    Debit:  1110 Cash (78%) (CU44)
    Debit:  3999 Attorney General Collection Fee (22%) (CU11)
    Credit: 3913 Tuition & Fees A/G Bad Debt (100%) (CU11)
    Debit:  5110 Collections-Tuition (78%) (CU11)
    Credit: 2311 Due to SUIFO (CU44)

 

  1. Campus receives cash from the student related to an OAG receivable:

    Debit:  1110 Cash (100%) (CU44)
    Credit: 1511 Attorney General Accounts Receivable-Tuition (100%) (CU11)
    Debit:  3999 Attorney General Collection Fee (22%) (CU11)
    Credit: 2391 Due to Other (22%) (CU44)
    Debit:  5110 Collections-Tuition (78%) (CU11)
    Credit: 2311 Due to SUIFO (78%) (CU44)
    Debit:  2391 Due to Other (22%) (CU44)
    Credit: 1110 Cash (22%)

Assessment of fringe benefits, administrative overhead, and maintenance and operation (M&O) overhead on Income Fund Reimbursable (IFR) accounts

  1. Campus receives documentation (AC 1370's) of monthly assessments on IFR accounts as summarized in the University IFR Audit Trail Report (SUIF7450):

    Debit:  Appropriate assessed fringe benefits account
    Debit:  Appropriate assessed administrative overhead account
    Debit:  Appropriate assessed maintenance and operation account
    Credit: Appropriate collections-indirect costs account

 

  1. Campus distributed retained administrative overhead and M&O:

    Debit:  5243 Indirect Costs Account
    Credit: 3384 Campus Share Administrative Overhead Account
    Credit: 3393 Assessed Maintenance and Operation Account

Residence Hall Program

The 2013-14 Enacted Budget included language to create a new self-supporting program to finance SUNY Dormitory Facilities.  All residence hall receipts collected are now required to be transferred to campus bank accounts held by Tax and Finance first and held in these accounts until debt service and DASNY fee requirements are met.  Once requirements are fulfilled by all campuses, any additional funds transferred will be moved from the campus Tax and Finance bank accounts to the campus collection fund.

1.  Campus bills students for room rental charges:

     Debit: 1331 A/R - Room Rent (CU30)

     Credit: 3812 Room Rent Fall Revenue (CU30)

 

2.  Campus collects $100,000 of room rents from students for period July 1 - July 15th

 

     Debit: 1110 Cash in Bank (CU44)

     Credit: 1331 A/R - Room Rent (CU30)

 

     Debit: 5312 Room Rent Fall Collections (CU30)

     Credit: 2333 Due to Dorm Tax and Finance Account (CU44)

 

3. Campus wires money from local bank account to new Tax and Finance bank account

 

     Debit: 2333 Due to Dorm Tax and Finance Account (CU44)

     Credit: 1110 Cash in Bank (CU44)

 

Note: room rental receipts will stay in Tax and Finance bank account until campus exceeds debt service and DASNY fee requirement amounts.

 

4.  Campus collects another $350,000 and follows the process in steps 2 and 3 above.

 

     Debit: 1110 Cash in Bank (CU44)

     Credit: 1331 A/R - Room Rent (CU30)

 

     Debit: 5312 Room Rent Fall Collections (CU30)

     Credit: 2333 Due to Dorm Tax and Finance Account (CU44)

 

     Debit: 2333 Due to Dorm Tax and Finance Account (CU44)

     Credit: 1110 Cash in Bank (CU44)

 

Note: the total room rents collected sum of $450,000 now exceeds the $250,000 in debt service and reserve requirements, therefore, a total of $200,000 will be transferred out of the Dorm Tax and Finance bank account and into the campus collection fund.

 

4a. Entries to record when funds are received in campus collection fund from Dorm Tax and Finance Bank Account

 

     Debit: 1111 Undistributed Cash to OSC (CU44)

     Credit: 2331 Due to Dorm Operating Fund (CU44)

 

5.  Campus processes an AC1370 to move funds from the collection fund to Dorm Fund

 

     Debit: 2331 Due to Dorm Operating Fund (CU44)

Credit: 1111 Undistributed Cash to OSC (CU44)

 

  1. Debt service payments will be made transferring cash out of the Dorm Tax and Finance account to DASNY by Tax and Finance.  In order to reflect these debt service payments in SUNY Accounting System, System Administration will process an AC1370 which will decrease the new Debt Service revenue class 12985 (negative amount on UAR610) and increase campus room rental revenue class 12902.  Campus will not have to record anything in URAS.

 

7.  For semi-annual URAS reporting campus will need to record the cash amount in the Dorm Tax and Finance Account in URAS as follows:

 

     Debit: 1112 Cash in Dorm Tax and Finance Account (CU44)

     Credit: 2331 Due to Dorm Operating Fund (CU44)

Residence Hall and Common Area Damage Deposits

  1. Cash is received for deposit:

    Debit:  1110 Cash in Bank (CU44)
    Credit: 2431 Deferred Income - Residence Hall Damage Deposits (CU30)

 

  1. The collection entry summarizing entry # 1 is made:

    Debit:  5380 Collections-SUDIF Other Sources (CU30)
    Credit: 2333 Due to Dorm T&F Account (CU44)

 

  1. The cash is wire transferred from local bank account to new Tax and Finance bank account:

    Debit:  2333 Due to Dorm T&F Account (CU44)
    Credit: 1110 Cash in Bank (CU44)

 

  1. Funds are received in the campus collection fund from the Tax and Finance bank account:

    Debit:  1111 Undistributed Cash to OSC (CU44)
    Credit: 2331 Due to Dormitory Operating Fund (CU44)

 

  1. Monies are transferred from the collection fund to the dormitory operating fund via an AC1370 using revenue class 12944 and/or 12945:

    Debit:  2331 Due to Dormitory Operating (CU44)
    Credit: 1111 Undistributed Cash to OSC (CU44)

 

  1. Deposits are held for 50 students to cover damages and the campus is going to keep the revenue in the dormitory operating fund.

    Debit:  2431 Deferred Income - Residence Hall Damage Deposits (CU30)
    Credit: 3639 Miscellaneous SUDIF Revenue (CU30)

 

  1. Remaining deposits are returned to students:

    Debit:  2431 Deferred Income - Residence Hall Damage Deposits (CU30)
    Credit: 1110 Cash in Bank (CU44)

 

  1. The collection entry to reflect the refund via cash disbursements is made:

    Debit:  2331 Due to Dormitory Operating (CU30)
    Credit: 5380 Collections-SUDIF Other Sources (CU30)

    Below is an alternative entry (# 5 above) for campuses that transfer damage revenue into their dormitory income fund reimbursable account.

    # 5.        (Alternate)

    Debit:  2431 Deferred Income - Residence Hall Damage Deposits (CU30)
    Credit: 5380 Collections – SUDIF Other Sources (CU30)

 

  1. A negative AC1370 must be processed to move collections previously transmitted to the dormitory operating fund via revenue class 12944 and /or 12945 back to the collection fund for the portion to be transferred to the dormitory income fund reimbursable account.  The campus must then process another AC1370 moving collections into the dormitory IFR account via revenue class 18232:

    Debit:  5349 Collections - DIFR-IFR – OSP Private (CU47)
    Credit: 3834 Revenue – DIFR-IFR – OSP – Private (CU47)

Summer Session

Because June 30 is the University’s year-end the summer session term may encompass more than one fiscal year.  The University policy is that both revenues and expenditures of these split sessions should be reported in the fiscal year in which the term is predominately conducted. 

  1. Student billing for summer session prior to June 30th:

    Debit:  1309 Accounts Receivable - IFR Tuition (CU11 / CU17)
    Debit:  1324 Accounts Receivable – Technology Fee (CU10)
    Debit:  1315 Accounts Receivable – Food Service (Other)
    Credit: 2405 Deferred Income – Tuition Summer (CU11 / CU17)
    Credit: 2460 Deferred Income Billed in Advance – Summer (CU10 / Other)

 

  1. Summer session charges are collected from students prior to June 30th:

    Debit:  1110 Cash in Bank (CU44)
    Credit: 1309 Accounts Receivable – IFR Tuition (CU11 / CU17)
    Credit: 1324 Accounts Receivable – Technology Fee (CU10)
    Credit: 1315 Accounts Receivable – Food Service (Other)

 

  1. The cash is periodically transferred from the local depository to the campus collection fund:

    Debit:  1111 Undistributed cash to OSC (CU44)
    Credit: 1110 Cash in Bank (CU44)

 

  1. The collection entry summarizing entry #2 is made to record the liability to other funds for the cash collection:

    Debit:  5107 Collections – Tuition Advance Summer (CU11 / CU17)
    Debit:  5201 Collections – Technology Fee (CU10)
    Debit:  5151 Collections – Food Service (Other)
    Credit: 2311 Due to SUIFO or 2315 Due to SUTRA (for campuses who use the SUTRA fund for summer session programs) (CU44)
    Credit: 2313 Due to Regular IFR (CU44)
    Credit: 2381 Due to ASC (CU44)

 

  1. To record the transfer (via AC1370 / FM909) from the collection fund to the other state funds:

    Debit:  2311 Due to SUIFO or 2315 Due to SUTRA (CU44)
    Debit:  2313 Due to Regular IFR (CU44)
    Debit:  2381 Due to ASC (CU44)
    Credit: 1111 Undistributed Cash to OSC (CU44)

 

  1. On July 1st, summer session deferred income must be recognized as revenue:

    Debit:  2405 Deferred Income – Tuition Summer (CU11 / CU17)
    Debit:  2460 Deferred Income Billed in Advance – Summer (CU10 / Other)
    Credit: 3111 Tuition Summer (CU11 / CU17)
    Credit: 3301 Technology Fee Revenue (CU10)
    Credit: 4351 Food Service Summer (Other)

    A journal entry must also be recorded in URAS to reclass all summer session monies recorded in the tuition advanced collection account above to the current year summer collection account:

    Debit:   5111 Collections – Tuition Summer (CU11 / CU17)
    Credit:  5107 Collections – Tuition Advance Summer (CU11 / CU17)
     

Miscellaneous Fee and Fine Revenue

Campuses should distribute miscellaneous fees (examples below) to an income fund reimbursable account:

Drop/Add Fee
Late Registration
Late Payment Fee
Academic Transcript Fee
Library Fee
Returned Check
Admission Application Fee - Graduate

Admission Application Fee - Professional
 

  1. Students are billed for semester fee charges:

    Debit:  1312 Accounts Receivable – Miscellaneous Fees (CU10)
    Credit: 3172 Late Registration Fee Revenue (CU10)
    Credit: 3174 Transcript Fee Revenue (CU10)
    Credit: 3175 Library Fee Revenue (CU10)
    Credit: 3178 Drop/Add Revenue (CU10)
    Credit: 3179 Returned Check Revenue (CU10)
    Credit: 3183 Late Payment Fee Revenue (CU10)
    Credit: 3184 Admission Application Fee - Graduate Revenue (CU10)
    Credit: 3185 Admission Application Fee - Professional Revenue (CU10)

 

  1. Fee charges are collected from students:

    Debit:  1110 Cash in Bank (CU44)
    Credit: 1312 Accounts Receivable – Miscellaneous Fees (CU10)

 

  1. The cash is periodically transferred from the local depository to the campus collection fund:

    Debit:  1111 Undistributed Cash to OSC (CU44)
    Credit: 1110 Cash in Bank (CU44)

 

  1. The collection entry is made to record the liability to the income fund reimbursable account (SUIFR) for the cash collection summarized in entry # 2

    Debit:  5124 Collections – Fees and Fines IFR Transferable (CU10)
    Debit:  5125 Collections – Graduate / Professional Fees (CU10)
    Credit: 2313 Due to SUIFR (CU44)

 

  1. To record the transfer (via FM909) from the collection fund to SUIFR:

    Debit:  2313 Due to SUIFR (CU44)
    Credit: 1111 Undistributed Cash to OSC (CU44)

 

State University Tuition Reimbursable Account (SUTRA) Revenue

SUTRA comprises four separate credit-bearing income fund reimbursable types of activities:

Summer Session (refer to previous section)
Overseas Academic Programs
Contract Courses

Academic Year (Fall / Spring) Overflow Enrollment

 

Overseas Academic Programs (OAP)

Beginning with the 2012-13 fiscal year campuses can record and distribute overseas academic program revenue directly into the State University Tuition Reimbursable Account.   

 

  1. Students are billed for the OAP for fall semester:

 

Debit:  1311 Accounts Receivable – Tuition (CU17)

Credit: 3112 Tuition – Fall (CU17)

 

  1. Fall OAP charges are collected from students

 

Debit:  1110 Cash in Bank (CU44)

Credit: 1311 Accounts Receivable – Tuition (CU17)

 

  1. The cash is periodically transferred from the local depository to the campus collection fund:

    Debit:  1111 Undistributed Cash to OSC (CU44)
    Credit: 1110 Cash in Bank (CU44)

 

  1. The collection entry is made to record the liability to SUTRA for the cash collection summarized in entry 2:

 

Debit:  5112 Tuition – Fall (CU17)

Credit: 2315 Due to SUTRA (CU44)

 

  1. To record the distribution via (FM909) from the collection fund to SUTRA using revenue class 19306 – Tuition – Other

 

Debit:  2315 Due to SUTRA (CU44)

Credit: 1111 Undistributed Cash to OSC (CU44)

 

Academic Year (Fall / Spring) Overflow Enrollment

 

  1. For the Academic Year (Fall/Spring) overflow enrollment, the tuition will be recorded in the appropriate tuition revenue and collection accounts by semester in the income offset fund and distributed via an AC1370 to the applicable “tuition” revenue classes in the income offset fund.  When the campus exceeds the approved income offset revenue target, a special transfer revenue adjustment (FM909) must be processed to transfer the overflow tuition revenue into the applicable SUTRA account.  The transfer is done utilizing revenue classification 19385 – Transfer From/To Other Funds – Tuition Overflow.  The amount to be transferred to the SUTRA account will be input using revenue class 19385 and this will automatically generate a reduction to income offset fund revenue class 12815 – Transfer From/To Other Funds Tuition Overflow.  Note: by using these special revenue classes the FM909 transactions will not go through the collection fund.  The following entry should be recorded in URAS:

    Debit:   5278 Transfer From / To Other Funds (CU17)
    Credit:  5118 Transfer From / To Other Funds (CU11)
    Note: because all journal entries must be in balance by entity the following journal entry must also be recorded:

    Debit:  6000 Intra-Fund Transfer (CU11)
    Credit: 6000 Intra-Fund Transfer (CU17)

 

Contract Courses

  1. Individuals / Corporations are billed for contract course charges:

    Debit:  1312 – Accounts Receivable - Miscellaneous Fees (CU17)
    Credit: 3380 – OSP – Other Revenue (CU17)

 

  1. Fee charges are collected:

    Debit:  1110 Cash in Bank (CU44)
    Credit: 1312 Accounts Receivable – Miscellaneous Fees (CU17)

 

 

  1. The cash is periodically transferred from the local depository to the campus collection fund:

    Debit:  1111 Undistributed cash to OSC (CU44)
    Credit: 1110 Cash in Bank (CU44)

 

  1. The collection entry is made to record the liability to State University tuition reimbursable fund (SUTRA) for the cash collection summarized in entry 2:

    Debit:  5249 Collections – OSP – Other (CU17)
    Credit: 2315 Due to SUTRA (CU44)

 

  1. To record the transfer (via FM909) from the collection fund to the applicable SUTRA account:

    Debit:  2315 Due to SUTRA (CU44)
    Credit: 1111 Undistributed Cash to OSC (CU44)

Interest Income

  1. To record the Attorney General’s interest collected on past due accounts receivable:

    Debit:  1110 Cash in Bank (CU44)
    Credit: 3389 Interest Income (CU10)

    To record the liability to other state funds for the cash collection:

    Debit:  5269 Collections – Other Sources – Interest (CU10)
    Credit: 2313 Due to Regular IFR (CU44)

 

  1. To record the short-term investment pool (STIP) interest income (expense) automatically distributed to the campuses’ state funds.  The monthly interest activity is summarized in the University Revenue Transaction Journal Report (UAR600):

    Debit:  5269 Collections – Other Sources – Interest
    Credit: 3389 Interest Income

Dormitory Operations Fringe Benefit Charges

To record the dormitory fringe benefit charges automatically posted to the campuses’ dormitory fund (330-00) by System Administration.  The monthly fringe benefit activity (revenue class 12861) is summarized in the University Revenue Transaction Journal Report (UAR600):

Debit:  3680 Other Transfers (CU30)
Credit: 5381 Other Transfers (CU30)

State Support Revenue

To record the State support revenue automatically posted to the campuses’ income offset fund (345-12) by System Administration.  The State appropriation activity (revenue class 12841) is summarized in the University Revenue Transaction Journal Report (UAR600):

Debit:  5132 State Support Collections (CU11)
Credit: 3612 State Support Revenue (CU11)

State University Income Offset Fund Pooled Revenue

To record the pooled revenue automatically posted to the campuses’ income offset fund (345-12) by system administration.  The pooled revenue activity (revenue class 12864) is summarized in the University Revenue Transaction Journal Report (UAR600):

Debit:  5381 Other Transfers (CU11)
Credit: 3680 Other Transfers (CU11)

Title IV Accounts Receivable

 

 

 

 

  1. To record the amount returned to the grantor agency:

    Debit:  1398 – A/R Title IV (CU44)
    Credit: 1110 – Cash in Bank (CU44)

 

  1. To record subsequent payments received from students:

    Debit:  1110 – Cash in Bank (CU44)
    Credit: 1398 – A/R Title IV (CU44)
     

Note: no “due to” and “collection” entries are necessary; this is a repayment of cash only.

 

  1. To write-off an amount due from the students, the campus should process an FM909 or AC1370 charging the desired entity (SUTRA, SUIFO, or IFR) and make the following entries:

    Debit:  1111 – Undistributed Cash to OSC (CU44)
    Debit:  3998 – Uncollectible Provision Title IV Bad Debt
    Credit: 23XX – Appropriate Due To Account (CU44)
    Credit: 5XXX – Appropriate Collection Account

 

  1. To remove accounts receivable balance:

    Debit:  23XX – Appropriate Due To Account
    Credit: 1398 – A/R Title IV

Use of State-appropriated and Operating Funds for Campus Scholarships

  1. Student billed for charges at gross (use tuition charges as an example):

    Debit:  1311 Tuition Receivable (CU11)
    Credit: 31xx Tuition Revenue (CU11)

 

  1. Campus accepts tuition scholarship in lieu of payment:

    NO URAS ACCOUNTING EFFECT

 

  1. Campus prepares special charge voucher, with the payee being the campus, into the University accounting system voucher payment module utilizing University object no. 5803 charging the appropriate expenditure account.  The expenditure account that is charged for the cost of the scholarship program should contain “15” as the third and fourth digit (e.g., XX15XX - 00).  This signifies student aid.  The campus should transmit the voucher to OSC for processing.  Note: as an alternative, a campus may process the transaction utilizing a revenue/expense journal (similar to the process established for the SUSTA program):

    NO URAS ACCOUNTING EFFECT

 

  1. Campus receives check for scholarship:

    Debit:  1110 Cash in Bank (CU44)
    Credit: 1311 Tuition Receivable (CU11)

 

  1. The liability to state funds for the cash collection is recorded:

    Debit:  51xx Collections – Tuition (CU11)
    Credit: 2311 Due to SUIFO (CU44)

 

  1. The cash is periodically transferred from the local depository to the campus collection fund:

    Debit:  1111 Undistributed Cash to OSC (CU44)
    Credit: 1110 Cash in Bank (CU44)

 

  1. To record the transfer (via AC1370) from the collection fund to the University income offset fund:

    Debit:  2311 Due to SUIFO (CU44)
    Credit: 1111 Undistributed Cash to OSC (CU44)
     

GENERAL ACCOUNTING CYCLES

The illustrated standard journal entries of the system contain amounts used for the trial balances and reports and presented in the final section of the manual.  An opening trial balance of the general ledger precedes the journal entries to provide a complete accounting cycle.

OPENING TRIAL BALANCE

No.

Name

Debit

Credit

1110

Cash

 9,600

 

1311

Accounts Receivable – Tuition

30,000

 

1315

Accounts Receivable – Food Service

10,000

 

1324

Accounts Receivable – Technology Fee

 2,000

 

1331

Accounts Receivable – Room Rent

20,000

 

1332

Accounts Receivable – College Fees

 2,000

 

1381

Accounts Receivable – ASC Charges

   500

 

1518

Accounts Referred to Attorney General – Miscellaneous SU Income Fund

   105

 

1675

Allowance for Uncollectible Accounts – Other State Charges

 

  200

2311

Due to SUIFO

 

 5,000

2313

Due to Regular IFR

 

   500

2331

Due to Dormitory Operating

 

 3,000

2370

Due to General Fund

 

  100

2381

Due to ASC

 

 1,000

2405

Deferred Income – Tuition Summer

 

 1,000

2425

Deferred Income – Room Summer

 

 1,000

2410

Deferred Income – Admissions Deposits

 

 1,625

2420

Deferred Income – Room Deposits

 

 2,600

2900

Fund Balance

 

58,180

 

 

74,205

74,205

 

JOURNAL ENTRY 1

To record the billing of students for the semester charges.  Note this does not apply to the summer semester, for the summer semester entries see specific transactions section, (j).  Each student will be charged for the gross amounts of tuition, fees, etc.; tuition waivers and financial aid will be credited, if applicable, in subsequent entries.  Any prepayments, such as tuition and room rent (as indicated on the opening trial balance), will be credited to the student accounts in this entry.

No.

Name

Debit

Credit

1311

Accounts Receivable – Tuition

30,145

 

1315

Accounts Receivable – Food Service

28,000

 

1324

Accounts Receivable – Technology Fee

 8,000

 

1331

Accounts Receivable – Room Rent

24,000

 

1332

Accounts Receivable – College Fees

 5,000

 

1381

Accounts Receivable- ASC

 3,200

 

1385

Accounts Receivable – Other Non State

 2,200

 

2405

Deferred Income – Tuition Summer

 1,000

 

2410

Deferred Income – Admissions Deposits

 1,250

 

2420

Deferred Income – Room Deposits

 2,000

 

2425

Deferred Income – Room Summer

 1,000

 

3111

Revenue – Tuition Summer

 

 1,000

3112

Revenue – Tuition Fall

 

31,395

3301

Revenue – Technology Fee

 

 8,000

3811

Revenue – Room Rent Summer

 

 1,000

3812

Revenue – Room Rent Fall

 

26,000

3132

Revenue College Fee Fall

 

 5,000

4352

Revenue Food Service Fall

 

28,000

4610

Revenue Miscellaneous ASC

 

 3,200

4512

Revenue Insurance Premium Fall

 

2,200

 

 

105,795

105,795

 

JOURNAL ENTRY 2

To record the withdrawal of students at any time after the billing journal entry # 1 has recorded charges to the students for tuition, fees, etc. and recognition of revenue.  The accounts are adjusted for the partial or full amounts credited to the students.  The credits must be made to the students' receivable accounts, even if the students have previously paid the original charges.  A credit accounts receivable balance usually indicates that a refund is due to the student.  Cash refunds will be made for credit balances in the receivable accounts and recorded in subsequent journal entry (# 5). For a partial refund, only a portion of the revenue and related accounts receivable would be reversed since part of the revenue is earned.

No.

Name

Debit

Credit

3112

Revenue – Tuition, Fall

 3,150

 

3132

Revenue – College Fees, Fall

   125

 

3812

Revenue – Room Rental, Fall

3,417

 

4352

Revenue – Food Service, Fall

3,800

 

4610

Revenue – Miscellaneous ASC

  320

 

4512

Revenue – Insurance, Fall

  242

 

1311

Accounts Receivable – Tuition

 

 3,150

1332

Accounts Receivable – College Fees

 

   125

1331

Accounts Receivable – Room Rent

 

3,417

1315

Accounts Receivable – Food Service

 

3,800

1381

Accounts Receivable – ASC 

 

  320

1385

Accounts Receivable – Other

 

 242

 

 

11,054

11,054

 

 

JOURNAL ENTRY 3

To record adjustments in amounts billed to students resulting from changes in registration, living accommodations, billing errors, etc.  This entry is required prior to the refunding to students of any overpayments.

No.

Name

Debit

Credit

3112

Revenue – Tuition, Fall

 2,500

 

3118

Revenue – Tuition, Prior Years

     20

 

1331

Accounts Receivable – Room Rent

1,000

 

3812

Revenue – Room Rental, Fall

 

1,000

1311

Accounts Receivable – Tuition

 

2,520

 

 

3,520

3,520

 

 

If an accounts receivable credit balance results from this entry and a refund is due to the student, then a subsequent reclassification and payment are required and recorded through journal entries # 5 and # 11.

JOURNAL ENTRY 4

To record waivers of charges based on the agreement between the State of New York and United University Professions, Inc. (UUP).

No.

Name

Debit

Credit

3122

Revenue – Tuition Offset, Fall

4,435

 

3128

Revenue – Tuition Offset, Prior Years

    29

 

1311

Accounts Receivable – Tuition

 

4,464

 

 

If an accounts receivable credit balance results from this entry and a refund is due to the student, then a reclassification and subsequent payment are required and recorded through journal entries # 5 and # 11.

JOURNAL ENTRY 5

To record cash refunds due to students as evidenced by audited credit balances in the student accounts receivable.  Credit balances might occur in an individual student account after the student has paid the billed charges, as a result of withdrawal (JE # 2), billing adjustments (JE # 3), waiver of charges (JE # 4), or overpayments either in error or as a result of financial aid payments from state or federal programs.

No.

Name

Debit

Credit

1311

Accounts Receivable – Tuition

 450

 

1315

Accounts Receivable – Food Service

  650

 

1331

Accounts Receivable – Room Rent

  492

 

1381

Accounts Receivable – ASC

   30

 

1385

Accounts Receivable – Other

   22

 

2110

Refunds Due to Students

 

1,644

 

 

The amounts in this entry consist of the following:

 

Full Refund

Partial Refund

Total

Tuition

300

150

450

Food Service

350

300

650

Room Rent

325

167

492

Activity Fee

30

0

  30

Insurance

22

0

  22

 

1,027

617

1,644

 

 

JOURNAL ENTRY 6

To reclassify old, uncollected accounts receivable from the active accounts.  Amounts of uncollected revenues of the state are transferred to the OAG or outside private collection agency for collection.  The entry below reflects accounts receivable transferred to OAG.  For amounts transferred to private collection agency substitute collection agency accounts (Accounts 1700 – 1798).

No.

Name

Debit

Credit

1511

AR Attorney General – Tuition

3,000

 

1515

AR Attorney General – Food Service

3,500

 

1531

AR Attorney General – Room Rent

3,250

 

1532

AR Attorney General – College Fees

   125

 

1311

Accounts Receivable – Tuition

 

3,000

1315

Accounts Receivable – Food Service

 

3,500

1331

Accounts Receivable – Room Rent

 

3,250

1332

Accounts Receivable – College Fees

 

   125

 

 

9,875

9,875

 

 

JOURNAL ENTRY 7

To record cash receipts for each semi-monthly period.  The entry may be posted directly from a cash receipts journal if the journal contains the necessary analysis of the cash transactions.  The journal may be manually posted, in either detailed or summary form, or printed by computer from an automated system.

Two entries are shown below to illustrate the origin of collection entries # 9 and # 10. 

Entry for the period September 1-15:

No.

Name

Debit

Credit

1110

Cash

64,875

 

 

 

 

 

1389

Accounts Receivable – Undistributed

 

49,000

1589

AR Attorney General – Undistributed

 

  1,500

2410

Deferred Income – Admissions Deposits

 

     100

2420

Deferred Income – Room Deposits

 

       50

2690

Exchange

 

     500

3174

Revenues – Transcript Fee

 

       50

3178

Revenues – Bad Check

 

       25

3311

Revenues – Sponsored Research Federal

 

  5,000

3340

Revenues – Sponsored Research - Other

 

  1,000

3380

Revenues – OSP - Other

 

  7,275

3631

Revenues – Telephone - Dorm

 

     375

 

 

64,875

64,875

 

 

Entry for the period September 16-30:

No.

Name

Debit

Credit

1110

Cash

40,200

 

 

 

 

 

1389

Accounts Receivable – Undistributed

 

35,000

3311

Revenues – Sponsored Research – Federal

 

 4,000

3360

Revenues – Other Sponsored Programs – State

 

1,000

3639

Revenues – Damage Charges, Dorms

 

  200

 

 

40,200

40,200

 

 

JOURNAL ENTRY 7A

To record the periodic transfer of monies from the local depository to the campus collection fund on deposit at the state treasury.

Cumulative effect of entries for the month of September:

No.

Name

Debit

Credit

1111

Undistributed cash to OSC

100,000

 

1110

Cash

 

100,000

 

 

 

JOURNAL ENTRY 8

To record the distribution to subsidiary accounts of the undistributed cash receipts which were credited to accounts receivable in JE #7.  The distribution will be obtained from the process of crediting the receipts to the individual student accounts.  Since most student accounts records are automated, the analysis will usually be computer - generated.

Entry for the period September 1-15

No.

Name

Debit

Credit

1389

Accounts Receivable - Undistributed

49,000

 

1589

AR Attorney General – Undistributed

 1,500

 

1311

Accounts Receivable – Tuition

 

23,500

1315

Accounts Receivable – Food Service

 

12,000

1331

Accounts Receivable – Room Rent

 

 9,000

1332

Accounts Receivable – College Fees

 

 2,500

1381

Accounts Receivable – ASC

 

 1,500

1385

Accounts Receivable – Other

 

   500

1511

AR Attorney General – Tuition

 

   800

1515

AR Attorney General – Food Service

 

   600

1531

AR Attorney General – Room Rent

 

   100

 

 

50,500

50,500

 

 

Entry for the period September 16-30:

No.

Name

Debit

Credit

1389

Accounts Receivable – Undistributed

35,000

 

 

 

 

 

1311

Accounts Receivable – Tuition

 

13,000

1315

Accounts Receivable – Food Service

 

10,000

1331

Accounts Receivable – Room

 

11,000

1332

Accounts Receivable – College Fees

 

 1,000

 

 

35,000

35,000

 

 

JOURNAL ENTRY 9

To record the collections and corresponding liabilities to other funds for the cash recorded in the cash receipts journal and distributed in JE #7 for each semi-monthly period.  The total amounts distributed by this entry and JE #10 must agree with the total debit to cash in the corresponding JE #7 less any account whose balance remains in the collection fund - CU44 (i.e., exchange).  Entries are shown for each semi-monthly period of the example.

Entry for the period September 1-15:

No.

Name

Debit

Credit

5112

Collections – Tuition – Fall

    100

 

5124

Collections – Fees & Fines – IFR Transfer

      75

 

5231

Collections – Sponsored Research, Federal

5,000

 

5239

Collections – Sponsored Research, Other

1,000

 

5249

Collections – Other Sponsored Programs, Other

7,275

 

5312

Collections – Room Rent, Fall

    50

 

5380

Collections – SUDIF, Other

  375

 

2311

Due to SUIFO

 

   175

2313

Due to Regular IFR

 

13,275

2331

Due to Dormitory Operating

 

    425

 

 

13,875

13,875

 

 

Entry for the period September 16-30:

No.

Name

Debit

Credit

5231

Collections – Sponsored Research, Federal

 4,000

 

5245

Collections – Sponsored Program, State

 1,000

 

5380

Collections – SUDIF – Other Sources

    200

 

2313

Due to Regular IFR

 

5,000

2331

Due to Dormitory Operating

 

  200

 

 

5,200

5,200

 

 

JOURNAL ENTRY 10

To record the collections and corresponding liabilities to other funds for the cash receipts which were distributed to student accounts receivable in JE # 8.

Entry for the period September 1-15:

No.

Name

Debit

Credit

5112

Collections – Tuition – Fall

24,300

 

5152

Collections – Food Service – Fall

12,600

 

5312

Collections – Room Rent – Fall

  9,100

 

5322

Collections – College Fees – Fall

2,500

 

5810

Collections – ASC

1,500

 

5812

Collections – Student Insurance

   500

 

2311

Due to SUIFO

 

26,800

2331

Due to Dormitory Operating

 

 9,100

2381

Due to Auxiliary Service Corp.

 

14,100

2385

Due to Other Agency Accounts

 

    500

 

 

50,500

50,500

 

 

Entry for the period September 16-30:

No.

Name

Debit

Credit

5112

Collections – Tuition – Fall

13,000

 

5152

Collections – Food Service – Fall

10,000

 

5312

Collections – Room Rent – Fall

11,000

 

5322

Collections – College Fees – Fall

 1,000

 

2311

Due to SUIFO

 

14,000

2313

Due to Regular IFR

 

10,000

2331

Due to Dormitory Operating Fund

 

11,000

 

 

35,000

35,000

 

 

JOURNAL ENTRY 11

To record cash disbursements and transfers from the collection fund for each semi-monthly period.  The entry may be posted directly from a cash disbursements journal if the journal contains the necessary analysis of the cash transactions.  Two entries are shown below to illustrate the origin of collection entry #12 and the transmittal of collections to the state and other funds.

Entry for the period September 1-15:

No.

Name

Debit

Credit

2110

Refunds Due to Student

 1,027

 

2690

Exchange

   500

 

2311

Due to SUIFO

 5,500

 

2331

Due to Dormitory Operating

 3,000

 

2370

Due to General Fund

    100

 

2381

Due to Auxiliary Service Corp.

 1,000

 

1110

Cash in Banks

 

 2,627

1111

Undistributed Cash to OSC

 

 8,500

 

 

11,127

11,127

 

 

Entry for the period September 16-30:

No.

Name

Debit

Credit

2410

Deferred Income – Admission Deposits

   250

 

2420

Deferred Income – Room Deposits

   400

 

2311

Due to SUIFO

50,025

 

2331

Due to Dormitory Operating

11,375

 

2381

Due to Auxiliary Service Corp.

 1,470

 

2385

Due to Other Agency Accounts

    478

 

1110

Cash in Banks

 

  2,598

1111

Undistributed Cash to OSC

 

 61,400

 

 

63,998

63,998

 

 

JOURNAL ENTRY 12

To record the reduction in liabilities to other funds resulting from the disbursement of collected cash, as recorded in the cash disbursements journal and JE # 11 for each semi-monthly period. The total amounts of this entry must agree with the total credit to cash, less remittances to other funds, recorded in the corresponding JE # 11.  The distribution of the disbursements of refunds to students is obtained from JE # 5, which set up the liability for the refunds.  Only full refunds are disbursed at the campus.  Entries for each semi-monthly period are illustrated below.

Entry for the period September 1-15:

No.

Name

Debit

Credit

2311

Due to SUIFO

  300

 

2313

Due to Regular IFR

  350

 

2331

Due to Dormitory Operating

  325

 

2381

Due to Auxiliary Service Corp.

   30

 

2385

Due to Other Agency Accounts

   22

 

5112

Collections – Tuition – Fall

 

    300

5152

Collections – Food Service – Fall

 

    350

5312

Collections – Room Rent – Fall

 

    325

5810

Collections – ASC

 

     30

5812

Collections – Student Insurance

 

     22

 

 

1,027

1,027

 

 


Entry for the period September 16-30:

No.

Name

Debit

Credit

2311

Due to SUIFO

  250

 

2331

Due to Dormitory Operating

  400

 

5112

Collections – Tuition – Fall

 

  250

5312

Collections – Room Rent – Fall

 

  400

 

 

  650

  650

 

 


JOURNAL ENTRY 13

To record the allowance for uncollectible accounts receivable.

No.

Name

Debit

Credit

3911

Provision for Uncoll. Accts. – Tuition

1,100

 

3931

Provision for Uncoll. Accts. – Room Rent

1,000

 

3935

Provision for Uncoll. Accts. – College Fee

   500

 

1611

Allow. For Uncoll. Accts. – Tuition

 

1,100

1631

Allow. For Uncoll. Accts. – Room Rent

 

1,000

1632

Allow. For Uncoll. Accts. – College Fee

 

   500

 

 

2,600

2,600

 

 


JOURNAL ENTRY 14

To write off accounts receivable reported by the Attorney General as uncollectible.

Provision Method:

No.

Name

Debit

Credit

3913

Provision for Uncollectible Accounts – Tuition & Fees A/G Bad Debt

  500

 

3933

Provision for Uncollectible Accounts – Room Rent A/G Debt

  400

 

3937

Provision for Uncollectible Accounts – College Fee A/G Bad Debt

  100

 

3974

Provision for Uncollectible Accounts – Other State Charges A/G Bad Debt

  105

 

1511

A/R Attorney General – Tuition

 

   500

1518

A/R Attorney General – Miscellaneous

 

   105

1531

A/R Attorney General – Room Rent

 

   400

1532

A/R Attorney General – College Fees

 

   100

 

 

1,105

1,105

 

 


JOURNAL ENTRY 15

To write off accounts receivable reported by the OAG through the tax offset program (Note: the University does not receive any cash from the tax offset program; recoveries are deposited in the general fund of the state).

Provision Method:

No.

Name

Debit

Credit

3909

Provision for Uncollectible Accounts – Tuition & Fees Tax Offset

  600

 

3934

Provision for Uncollectible Accounts – Room Rent Tax Offset

  400

 

1511

A/R Attorney General – Tuition

 

  600

1531

A/R Attorney General – Room Rent

 

  400

 

 

1,000

1,000

 

 

  
JOURNAL ENTRY 16

To record a payment received on an account that was previously written off.

No.

Name

Debit

Credit

1100

Cash

  100

 

3911

Provision for Uncollectible Accounts – Tuition & Fees Campus Bad Debt

 

   50

3932

Provision for Uncollectible Accounts – Room Rent Campus Bad Debt

 

   50

5112

Collections – Tuition – Fall

    50

 

5312

Collections – Room Rent – Fall

    50

 

2311

Due to SUIFO

 

    50

2331

Due to Dormitory Operating

 

    50

 

 

  200

  200

 

 


JOURNAL ENTRY 17

Overseas Academic Program (OAP):

To record the billing of OAP:

No.

Name

Debit

Credit

1311

Accounts Receivable – Tuition

20,000

 

3112

Revenue – Tuition – Fall

 

20,000

 

 


Cash is received from students for billed charges.

No.

Name

Debit

Credit

1110

Cash in Bank

20,000

 

1311

Accounts Receivable – Tuition

 

20,000

 

 


To record the collection of OAP money:

No.

Name

Debit

Credit

5112

Collections – Tuition – Fall

20,000

 

2315

Due to SUTRA

 

20,000

 

 


JOURNAL ENTRY 18

The following entry should be used to record petty cash advances received from OSC as specified in the OSC Cash Advance Sub-ledger, LED060.  The initial entry will only be adjusted when additional advances are received or a refund of advanced funds is made to OSC.

No.

Name

Debit

Credit

1150

Petty Cash

15,000

 

2370

Due to General Fund

 

15,000

 

 


JOURNAL ENTRY 19

To record the billing of miscellaneous fees (i.e., academic transcript fee).

No.

Name

Debit

Credit

1312

Accounts Receivable – Misc. SUIF

 1,000

 

3174

Revenue – Transcript

 

1,000

 

 


Cash is received from students for billed charges:

No.

Name

Debit

Credit

1110

Cash in Bank

 1,000

 

1312

Accounts Receivable – Misc. SUIF

 

1,000

 

 


To record the collection of academic transcript money:

No.

Name

Debit

Credit

5124

Collections – Misc. Fees and Fees – IFR

 1,000

 

2313

Due to SUIFR

 

1,000

 

 


Reports and Reconciliations

The URAS is designed for the orderly recording of financial transactions affecting revenues.  As such, it lends itself to the preparation of reports which can be used by the campus, system administration, and DOB for better, more informed management.  This section describes and illustrates some of these reports.  The data used in the illustrations has been drawn from the opening trial balance and journal entries presented in the previous section.  Provided below is a listing of reports which are required to be submitted to the office of university controller:

REPORTS AND RECONCILIATIONS                          FREQUENCY

Pre-closing Trial Balance (via the On-line URAS Module)  

Quarterly

Reconciliation of Collections

Semi-annually *

Reconciliation of Fund Balance

Semi-annually *

Reconciliation of Revenue Related to Student Registrations

Year-end

Aged Accounts Receivable Category and Summary Reports

Semi-annually *

Analysis of Cash in Banks

Year-end

Reconciliation of Collection Fund

Semi-annually *

 

 

* Campuses experiencing difficulties in reporting will be required to submit quarterly.  The office of the university controller will notify applicable campuses.  

TRIAL BALANCE

The trial balance is simply a listing of each account in the general ledger, together with its debit or credit balance at a given date.  The total debits must always equal the total credits.  Any imbalance indicates an error and must be investigated and corrected so that the books will be in balance.

The trial balance should be prepared as of the last day of each month to ensure that the accounts are balanced.  The trial balance will be submitted to the office of university controller via the on-line URAS module on a quarterly basis.  It must be released to system administration within thirty days of the end of the quarter.  At the end of the fiscal year, the trial balance will provide the source for closing entry data.

(Example of a consolidated trial balance is found below - refer to the procedures for general ledger uniform revenue accounting system (URAS) collection module for an example of a trial balance by entity).

STATE UNIVERSITY OF NEW YORK AT XXXXXX

Pre-closing Consolidated Trial Balance

Assets

 

No.

Name

Debit

Credit

1110

Cash

  30,550

 

1111

Undistributed Cash to OSC

  30,100

 

1150

Petty Cash

  15,000

 

1311

Accounts Receivable – Tuition

  10,961

 

1315

Accounts Receivable – Food Service

   9,350

 

1324

Accounts Receivable – Technology Fee

  10,000

 

1331

Accounts Receivable – Room Rent

  18,825

 

1332

Accounts Receivable – College Fees

   3,250

 

1381

Accounts Receivable – ASC

  1,910

 

1385

Accounts Receivable – Other Non-State

  1,480

 

1511

A/R Attorney General – Tuition

  1,100

 

1515

A/R Attorney General – Food Service

  2,900

 

1531

A/R Attorney General – Room Rent

  2,350

 

1532

A/R Attorney General – College Fees

      25

 

1611

Allowance for Uncoll. Accts – Tuition

 

1,100

1631

Allowance for Uncoll. Accts – Room Rent

 

1,000

1632

Allowance for Uncoll. Accts – College Fee

 

  500

1675

Allowance for Uncoll. Accts – Other State

 

  200

Liabilities and Fund Balance

No.

Name

Debit

Credit

2110

Refunds Due to Students

 

   617

2311

Due to SUIFO

 

10,950

2313

Due to Regular IFR

 

28,425

2331

Due to Dormitory Operating

 

 8,675

2370

Due to General Fund

 

15,000

2381

Due to Auxiliary Service Corporation

 

12,600

2410

Deferred Income – Admissions Deposit

 

    225

2420

Deferred Income – Room Deposit

 

   250

2900

Fund Balance

 

58,180

Revenues

No.

Name

Debit

Credit

3111

Tuition – Summer

 

 1,000

3112

Tuition – Fall

 

45,745

3118

Tuition – Prior Year

    20

 

3122

Tuition Offset – Fall

 4,435

 

3128

Tuition Offset – Prior Year

      29

 

3132

College Fees – Fall

 

 4,875

3174

Misc. Fees & Fines – Transcript

 

 1,050

3178

Misc. Fees & Fines – Returned Check

 

     25

3301

Technology Fee

 

 8,000

3311

Sponsored Research – Federal, Direct

 

 9,000

3340

Sponsored Research – Other

 

 1,000

3360

Other Sponsored Programs – State

 

 1,000

3380

Other Sponsored Programs – Other

 

 7,275

3631

Telephone – Dormitory

 

   375

3639

Damage Charges – Dormitory

 

   200

3811

Room Rent – Summer

 

 1,000

3812

Room Rent – Fall

 

23,583

3909

Provision for Uncollectible Accounts

    600

 

 

Tuition and Fees Tax Offset

 

 

3911

Provision for Uncollectible Accounts

 1,100

 

 

Tuition and Fees Allowance

 

 

3912

Provision for Uncollectible Accounts

 

        50

 

Tuition and Fee Campus Bad Debt

 

 

3913

Provision for Uncollectible Accounts

    500

 

 

Tuition and Fees A/G Bad Debt

 

 

3931

Provision for Uncollectible Accounts

 1,000

 

 

Room Rent Allowance

 

 

3932

Provision for Uncollectible Accounts Room Rent Campus Bad Debt

 

       50

3933

Provision for Uncollectible Accounts Room Rent A/G Bad Debt

     400

 

3934

Provision for Uncollectible Accounts Rent Tax Offset

     400

 

3935

Provision for Uncollectible Accounts College Fee Allowance

      500

 

3937

Provision for Uncollectible Accounts College Fee A/G Bad Debt

      100

 

3974

Provision for Uncollectible Accounts Other State Charges A/G Bad Debt

      105

 

4352

Food Service – Fall

 

24,200

4512

Insurance Premiums – Fall

 

 1,958

4610

Miscellaneous ASC

 

 2,880

Collections

No.

Name

Debit

Credit

 

5112

Tuition – Fall

56,900

 

 

5124

Misc. Fees and Fines – IFER Transfer

 1,075

 

 

5152

Food Service – Fall

22,250

 

 

5231

Sponsored Research – Federal, Direct

 9,000

 

 

5239

Sponsored Research – Other

 1,000

 

 

5245

Other Sponsored Programs – State

 1,000

 

 

5249

Other Sponsored Programs – Other

 7,275

 

 

5312

Room Rent – Fall

19,475

 

 

5322

College Fees

 3,500

 

 

5380

SUDIF – Other Sources

    575

 

 

5810

Auxiliary Service Corporation

 1,470

 

 

5812

Student Insurance

   478

 

 

 

Total

270,998

270,998

CLOSING ENTRIES

Annually, at the end of the fiscal year, all the nominal accounts (revenues, non - revenue receipts, collections, and transfers) are closed into the fund balance.  This is done by the closing entries, which are prepared from the pre - closing trial balance and are posted to the general ledger.

STATE UNIVERSITY OF NEW YORK AT XXXXXX

Closing Entries

No.

Name

Debit

Credit

3111

Tuition – Summer

  1,000

 

3112

Tuition – Fall

45,745

 

3118

Tuition – Prior Year

 

      20

3122

Tuition Offset – Fall

 

  4,435

3128

Tuition offset – Prior Year

 

       29

3132

College Fees – Fall

 4,875

 

3174

Misc. Fees & Fines – Transcript

 1,050

 

3178

Misc. Fees & Fines – Returned Check

     25

 

3301

Technology Fee

 8,000

 

3311

Sponsored Research – Federal, Direct

 9,000

 

3340

Sponsored Research – Other

 1,000

 

3360

Other Sponsored Programs – State

 1,000

 

3380

Other Sponsored Programs – Other

 7,275

 

3631

Telephone – Dormitory

   375

 

3639

Damage Charges – Dormitory

   200

 

3811

Room Rent – Summer

 1,000

 

3812

Room Rent – Fall

23,583

 

3909

Provision for Uncollectible Accounts – Tuition & Fees Tax Offset

 

     600

3911

Prov. For Uncoll. Accts – Tuition

 

  1,100

3912

Provision for Uncollectible Accounts – Tuition & Fee Campus Bad Debt

      50

 

3913

Provision for Uncollectible Accounts – Tuition & Fees A/G Bad Debt

 

     500

3931

Prov. For Uncoll. Accts – Room

 

  1,000

3932

Provision for Uncollectible Accounts – Room Rent Campus Bad Debt

      50

 

3933

Provision for Uncollectible Accounts – Room Rent A./G Bad Debt

 

      400

3934

Provision for Uncollectible Accounts – Room Rent Tax Offset

 

      400

3935

Prov. For Uncoll. Accts. – College Fee

 

      500

3937

Provision for Uncollectible Accounts – College Fee A/G Bad Debt

 

      100

3974

Provision for Uncollectible Accounts Other State Charges A/G Bad Debt

 

      105

4352

Food Service – Fall

24,200

 

4512

Insurance Premiums – Fall

 1,958

 

4610

Miscellaneous ASC

 2,880

 

2900

Fund Balance

 

124,077

 

 

133,266

133,266


To close revenue and non-revenue receipts into fund balance.

STATE UNIVERSITY OF NEW YORK AT XXXXXX

Closing Entries (Continued)

No.

Name

Debit

Credit

2900

Fund Balance

123,998

 

5112

Tuition – Fall

 

 56,900

5124

Misc. Fees and Fines – IFR Transfer

 

  1,075

5152

Food Service – Fall

 

22,250

5231

Sponsored Research – Federal, Direct

 

  9,000

5239

Sponsored Research – Other

 

 1,000

5245

Other Sponsored Programs – State

 

 1,000

5249

Other Sponsored Programs – Other

 

 7,275

5312

Room Rent – Fall

 

19,475

5322

College Fees

 

 3,500

5380

SUDIF – Other Sources

 

   575

5810

Auxiliary Service Corporation

 

 1,470

5812

Student Insurance

 

   478

 

 

123,998

123,998


To close collection and transfer accounts into fund balance

RECONCILIATION OF COLLECTIONS

The reconciliation of collections report reconciles the collection accounts with the amounts remitted to the various funds for which they were collected.

This report should be prepared monthly and submitted semi-annually to the office of university controller within thirty days of the end of the quarter.  A reconciliation of collections of auxiliary service corporation accounts should be submitted by each campus to its auxiliary service corporation each fiscal year.
 

STATE UNIVERSITY OF NEW YORK

RECONCILIATION OF COLLECTIONS

For the Year Ended June 30, 20xx

State University Income Fund
Collections during the period:

Tuition

     56,900

Misc. Fees and Fines – IFR Transfer

       1,075

College Fees

       3,500

Sponsored Research  - Federal

       9,000

Sponsored Research – Other

       1,000

Other Sponsored Programs – State

       1,000

Other Sponsored Programs – Other

       7,275

     Total Collections

     79,750

Unremitted Collections:

 

Add: Beginning Due To Balances (7/01/xx)

       5,500

Deduct: Ending Due To Balances

   (39,375)

     Total Remittances to Fund

     45,875

State University Dormitory Income Fund
Collections during the period:

Room Rent – Fall

     19,475

Other Sources

          575

     Total Collections

     20,050

Unremitted Collections:

 

Add: Beginning Due To Balances (7/01/xx)

       3,000

Deduct: Ending Due To Balances

   (8,675)

     Total Remittances to Fund

     14,375

Note: Total remittances to state funds (i.e., SUIF, DIF, and Restricted Current Fund) should agree with the respective totals per the University analysis of cash receipts report (UAR610/UFUNDS).  If the totals do not agree, a reconciliation must be submitted in conjunction with the reconciliation of collections report.

General Fund

Collections during the period:

        None

Unremitted Collections:

 

Add: Beginning Due To Balance

          100

Deduct: Ending Due To Balance

        None

     Total Remittances to Fund

          100

Auxiliary Service Corporation

Collections during the period:

     23,720

Unremitted Collections:

 

Add: Beginning Due To Balance

       1,000

Deduct: Ending Due To Balance

   (12,600)

     Total Remittances to Fund

     12,120

Other Agency Funds

Collections during the period:

         478

Unremitted Collections:

 

Add: Beginning Due To Balance

      None

Deduct: Ending Due To Balance 

      None

     Total Remittances to Fund

         478

RECONCILIATION OF FUND BALANCE

After closing the nominal accounts for revenues, collections, and transfers the fund balance should reconcile to the net total of all assets and liability accounts, excluding the collection fund (CU44) asset and liability accounts.  The collection fund account balances (i.e., cash, undistributed receipts, exchanges, and due to’s) should all net to zero.  If these balances do not net to zero the campus has over (under) distributed the cash.  A reconciliation of fund balance should be prepared monthly and submitted semi-annually to the office of university controller, within thirty days of the end of the quarter.

RECONCILIATION OF FUND BALANCE

Cash (1100 accts.)

    75,650

 

 

 

 

Collection Fund:

 

 

  Undistributed Receipts

             0

 

  Misc. A/P

             0

 

  Due To’s

   (75,650)

 

     Variance

 

        0

 

 

 

Assets (other than above)

    59,351

 

  Less: Liabilities (other than above)

    (1,092)

 

Net Assets

 

58,259

 

 

 

Beginning Fund Balance

    58,180

 

  Add: Revenues and non-revenue receipts

  124,077

 

  Less: Collections

(123,998)

 

Ending Fund Balance

 

58,259

     Variance

 

        0

RECONCILIATION OF REVENUE RELATED TO STUDENT REGISTRATIONS

For each academic term the revenues related to student registrations should be directly reconcilable with the amount of earned revenue determined by multiplying enrollment statistics by the standard rates charged by the campus.  The variance should be less than or equal to 2%.  If the variance exceeds this criterion, then an explanation must be provided.  This report, for tuition and room rent revenue, will be prepared annually for the campus fiscal year and submitted to the office of university controller within thirty days of the close of the fiscal year.

(Format of analysis found below)

RECONCILIATION OF REVENUES RELATED TO STUDENT REGISTRATIONS

1.   Tuition

         Part-time            Headcount(+)         Tuition**         Calculated Tuition
         Headcount         or Credit Hour         Rate/Hr.         Revenue

SUMMER (20xx)

 

 

 

 

Resident:

 

 

 

 

  Undergraduate - Full-time

 

 

   3,085

 

  Graduate - Full-time

 

 

   5,185

 

 

 

 

 

 

  Undergraduate - Part-time

 

 

      257

 

  Graduate - Part-time

 

 

      432

 

                        Total Resident

 

 

 

 

 

 

 

 

 

Non-resident:

 

 

 

 

  Undergraduate - Full-time

 

 

   7,910

 

  Graduate - Full-time

 

 

  10,095

 

 

 

 

 

 

  Undergraduate - Part-time

 

 

      659

 

  Graduate - Part-time

 

 

      841

 

                       Total Non-Resident

 

 

 

 

 

 

 

 

 

Professional Resident

 

 

 

 

  Professional - Full-time

 

 

 

 

     Medical

 

 

   17,545

 

     Dentistry

 

 

  15,120

 

     Pharmacy

 

 

  11,870

 

     Law

 

 

  11,975

 

     Optometry

 

 

  12,040

 

     Physical Therapy

 

 

  10,655

 

                        Total Resident

 

 

 

 

 

 

 

 

 

Professional Non-resident:

 

 

 

 

  Professional - Full-time

 

 

 

 

     Medical

 

 

 30,125

 

     Dentistry

 

 

 31,475

 

     Pharmacy

 

 

 23,015

 

     Law

 

 

 20,920

 

     Optometry

 

 

 21,870

 

     Physical Therapy

 

 

 19,490

 

                   Total Non-resident

 

 

 

 

 

 

 

 

 

TOTAL SUMMER CALCULATED

 

 

 

 

 

 

 

 

 

TOTAL SUMMER REVENUE - URAS ACCOUNT 3111

 

 

 

 

 

 

 

 

 

VARIANCE

 

 

 

 

(+) Full-time Student - use headcount.  Part-time Student - use credit hour. 
 **   In accordance with tuition schedule.                                                                                                              

    Part-time           Headcount(+)      Tuition**         Calculated Tuition
     Headcount         or Credit Hour     Rate/Hr.         Revenue

FALL (20xx)

 

 

 

 

Resident:

 

 

 

 

  Undergraduate - Full-time

 

 

   3,085

 

  Graduate - Full-time

 

 

   5,185

 

 

 

 

 

 

  Undergraduate - Part-time

 

 

      257

 

  Graduate - Part-time

 

 

      432

 

                        Total Resident

 

 

 

 

 

 

 

 

 

Non-resident:

 

 

 

 

  Undergraduate - Full-time

 

 

   7,910

 

  Graduate - Full-time

 

 

  10,095

 

 

 

 

 

 

  Undergraduate - Part-time

 

 

      659

 

  Graduate - Part-time

 

 

      841

 

                       Total Non-Resident

 

 

 

 

 

 

 

 

 

Professional Resident

 

 

 

 

  Professional - Full-time

 

 

 

 

     Medical

 

 

   17,545

 

     Dentistry

 

 

  15,120

 

     Pharmacy

 

 

  11,870

 

     Law

 

 

  11,975

 

     Optometry

 

 

  12,040

 

     Physical Therapy

 

 

  10,655

 

                        Total Resident

 

 

 

 

 

 

 

 

 

Professional Non-resident:

 

 

 

 

  Professional - Full-time

 

 

 

 

     Medical

 

 

 30,125

 

     Dentistry

 

 

 31,475

 

     Pharmacy

 

 

 23,015

 

     Law

 

 

 20,920

 

     Optometry

 

 

 21,870

 

     Physical Therapy

 

 

 19,490

 

                   Total Non-resident

 

 

 

 

 

 

 

 

 

TOTAL FALL CALCULATED

 

 

 

 

 

 

 

 

 

TOTAL FALL REVENUE - URAS ACCOUNT 3112

 

 

 

 

 

 

 

 

 

VARIANCE

 

 

 

 

(+) Full-time Student - use headcount.  Part-time Student - use credit hour.
**   In accordance with tuition schedule.

RECONCILIATION OF REVENUES RELATED TO STUDENT REGISTRATIONS

1.  Tuition (continued):

      Part-time           Headcount(+)          Tuition**         Calculated Tuition
      Headcount        or Credit Hour          Rate/Hr.         Revenue    

SPRING (20xx)

 

 

 

 

Resident:

 

 

 

 

  Undergraduate - Full-time

 

 

   3,085

 

  Graduate – Full-time

 

 

   5,185

 

 

 

 

 

 

  Undergraduate - Part-time

 

 

      257

 

  Graduate – Part-time

 

 

      432

 

                          TOTAL RESIDENT

 

 

 

 

 

 

 

 

 

Non-resident:

 

 

 

 

  Undergraduate - Full-time

 

 

   7,910

 

  Graduate – Full-time

 

 

  10,095

 

 

 

 

 

 

  Undergraduate - Part-time  

 

 

      659

 

  Graduate – Part-time

 

 

      841

 

                         TOTAL NONRESIDENT

 

 

 

 

 

 

 

 

 

Professional:

 

 

 

 

Resident:

 

 

 

 

  Professional - Full-time

 

 

 

 

    Medical 

 

 

   17,545

 

    Dentistry

 

 

  15,120

 

    Pharmacy

 

 

  11,870

 

    Law

 

 

  11,975

 

    Optometry

 

 

  12,040

 

    Physical therapy

 

 

  10,655

 

                        TOTAL RESIDENT

 

 

 

 

 

 

 

 

 

Non-resident:

 

 

 

 

  Professional - Full-time

 

 

 

 

    Medical

 

 

 30,125

 

    Dentistry

 

 

 31,475

 

    Pharmacy

 

 

 23,015

 

    Law

 

 

 20,920

 

    Optometry

 

 

 21,870

 

    Physical therapy

 

 

 19,490

 

                        TOTAL NON-RESIDENT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL SPRING CALCULATED

 

 

 

 

 

 

 

 

 

TOTAL SPRING REVENUE - URAS ACCOUNT 3114

 

 

 

 

 

 

 

 

 

VARIANCE

 

 

 

 

(+) Full-time Student - use headcount.  Part-time Student - use credit hour.
** In accordance with tuition schedule.

RECONCILIATION OF REVENUES RELATED TO STUDENT REGISTRATIONS

2.  Room Rent:

Room Rental                  Room Rent        Calculated
No. of Beds                    Rate(+)              Revenues 

SUMMER (20xx)

 

 

 

 

 

 

 

TOTAL SUMMER REVENUE - URAS ACCOUNT 3811

 

 

 

 

 

 

 

VARIANCE

 

 

 

Room Rental                     Room Rent       Calculated
No. of Beds                       Rate(+)             Revenues    

FALL (20xx)

 

 

 

  Single

 

 

 

  Double

 

 

 

  Triple

 

 

 

  Married

 

 

 

  Staff

 

 

 

  Apartment

 

 

 

  Other (Specify)

 

 

 

  Resident Assistant

 

 

 

 

 

 

 

TOTAL FALL CALCULATED

 

 

 

 

 

 

 

TOTAL FALL REVENUE - URAS ACCOUNT 3812

 

 

 

 

 

 

 

VARIANCE

 

 

 

(+) As there are different approved rates throughout the University, "various" or actual rates may be used provided sufficient documentation exists for the calculation.

RECONCILIATION OF REVENUES RELATED TO STUDENT REGISTRATIONS

2.  Room Rent:

Room Rental                  Room Rent         Calculated
No. of Beds                    Rate(+)              Revenues    

SPRING (20xx)

 

 

 

  Single

 

 

 

  Double

 

 

 

  Triple

 

 

 

  Married

 

 

 

  Staff

 

 

 

  Apartment

 

 

 

  Other (Specify)           

 

 

 

  Resident Assistant

 

 

 

 

 

 

 

TOTAL SPRING CALCULATED

 

 

 

 

 

 

 

TOTAL SPRING REVENUE – URAS ACCOUNT 3814

 

 

 

 

 

 

 

VARIANCE

 

 

 

(+)  As there are different approved rates throughout the University, various or actual rates may be used provided sufficient documentation exists for the calculation.

AGED STUDENTS ACCOUNTS RECEIVABLE CATEGORY REPORT AND SUMMARY REPORT

An aged student’s accounts receivable report will be prepared by semester and category to verify the proper transfer of receivables to the Attorney General.  The total aged accounts receivable must equal the balance in the general ledger, which is reflected on the balance sheet.  These reports should  be submitted semi-annually  to the office of university controller, within thirty days of the end of the quarter.

(Sample format of report found below)

STATE UNIVERSITY OF NEW YORK

AGED STUDENTS ACCOUNTS RECEIVABLE CATEGORY REPORT

Status as of 6/30/xx

Academic                 No. of                           College        Health         Activities                      Food
Term                        Accts          Tuition         Fee            Serv. Fee     Fee            Room        Service         Total 

Spring xx

 

 

 

 

 

 

 

 

Fall   xx

 

 

 

 

 

 

 

 

Summer xx

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Spring xx

 

 

 

 

 

 

 

 

Fall   xx

 

 

 

 

 

 

 

 

Summer xx 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Spring xx

 

 

 

 

 

 

 

 

Fall   xx

 

 

 

 

 

 

 

 

Summer xx

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Spring xx

 

 

 

 

 

 

 

 

Fall   xx

 

 

 

 

 

 

 

 

Summer xx

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Spring xx

 

 

 

 

 

 

 

 

Fall   xx

 

 

 

 

 

 

 

 

Summer xx

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Spring xx

 

 

 

 

 

 

 

 

Fall   xx

 

 

 

 

 

 

 

 

Summer xx  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sub-Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Attorney General

 

 

 

 

 

 

 

 

Collection Agency 

 

 

 

 

 

 

 

 

Total Receivable

 

 

 

 

 

 

 

 

 

AGED HOSPITAL AND CLINIC ACCOUNTS RECEIVABLE CATEGORY REPORT

An aged hospital and clinic accounts receivable report will be prepared by payor class.  The total aged accounts receivable must equal the balance in the general ledger, which is reflected on the balance sheet.   These reports should be submitted semi-annually  to the office of university controller, within thirty days of the end of the quarter.

(Sample format of report found below)

HOSPITAL AND CLINIC

SCHEDULE OF ACCOUNTS RECEIVABLE

June 30, 20xx

                  Medicare    Blue Cross     Medicaid     Commercial    No-Fault       Total

Inpatient:

 

 

 

 

 

 

In-house

 

 

 

 

 

 

Discharged, Not Billed

 

 

 

 

 

 

0-30 Days

 

 

 

 

 

 

31-60 Days

 

 

 

 

 

 

61-90 Days

 

 

 

 

 

 

91-120 Days

 

 

 

 

 

 

121-150 Days

 

 

 

 

 

 

151-180 Days

 

 

 

 

 

 

Over 180 Days

 

 

 

 

 

 

PIP Receivable

 

 

 

 

 

 

Other          

 

 

 

 

 

 

  Total Inpatient

 

 

 

 

 

 

 

 

 

 

 

 

 

Outpatient:

 

 

 

 

 

 

0-30 Days

 

 

 

 

 

 

31-60 Days

 

 

 

 

 

 

61-90 Days

 

 

 

 

 

 

91-120 Days

 

 

 

 

 

 

121-150 Days

 

 

 

 

 

 

151-180 Days

 

 

 

 

 

 

Over 180 Days

 

 

 

 

 

 

  Total Outpatient and Clinic

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Current Patient Receivables per Aging

 

 

 

 

 

 

     Difference (provide explanation)

 

 

 

 

 

 

Total Current Receivables Reported on URAS Trial Balance

 

 

 

 

 

 

     Allowance for Current      Inpatient Receivables

 

 

 

 

 

 

     Allowance for Current Outpatient Receivables

 

 

 

 

 

 

         Total Allowance for Current Account Receivables

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Inpatient Attorney General / Collection Agency Receivables

 

 

 

 

 

 

Total Outpatient (Clinic) Attorney General / Collection Agency Receivables

 

 

 

 

 

 

    Total Attorney General / Collection Agency Accounts Receivable Reported on URAS Trial Balance

 

 

 

 

 

 

Allowance for Attorney General / Collection Agency Inpatient Receivables

 

 

 

 

 

 

Allowance for Attorney General / Collection Agency Outpatient Receivables

 

 

 

 

 

 

         Total Allowance for Attorney General / Collection Agency Receivables 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Allowance for all Receivables

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Hospital and Clinic Accounts Receivables

 

 

 

 

 

 

ANALYSIS OF CASH IN BANKS           

The analysis of cash in banks provides a summary of transactions recorded in account 1110 - Cash.  The cash receipts and cash disbursements should be supported by the appropriate journals.  The "other" category should be used to identify disbursements to non-state entities.  Specify the entity and purpose (e.g., auxiliary service corporation - insurance premiums).  Also report the bank accounts included in account 1110 in the section entitled composition of cash in banks.  This report will be prepared annually and submitted to the office of university controller, within thirty days of the end of the quarter.

ANALYSIS OF CASH IN BANKS

Activity:

 

 

Balance Beginning of Year

 

$

Add:  Cash Receipts

$

 

Less: Cash Disbursements to:

 

 

Collection Fund

$

 

Student Loan & Aid Funds

 

 

(i.e., Refund of Appropriation

 

 

Expenditure transactions)

$

 

Students Exchanges

$

 

Student Refunds

$

 

Other (specify):

$

 

 

 

 

Balance End of Year

 

$

Composition of Cash in Banks:

Bank

Account Number

Purpose

 

 

 

 

 

 

 

 

 

RECONCILIATION OF COLLECTION FUND (344 Fund)

The balance reported in account 1111 - Undistributed Cash to OSC should equal the balance reported on the collection fund activity report (UAR615).  If the balances are not equal, a reconciliation must be submitted in the format below.  This report should be submitted semi-annually  to the office of university controller, within thirty days of the end of the quarter.

UAR615 Report Balance

 

 

$

 

 

 

 

Adjustments:

 

 

 

Date

Description

Amount

 

 

 

$

 

 

 

$

 

 

 

$

 

 

 

$

 

 

 

 

 

General Ledger Balance

 

 

$

 

 

 

 

 


Forms

There are no forms relevant to this procedure.


Related Procedures

URAS General Ledger Collection Module

 

AC1370 – Revenue Transfer Request

 

Finance Bulletin # 6 – Revenue General Overview




Other Related Information

Division of Budget – Budget Policy and Reporting Manual




Authority

The Office of the University Controller - Accounting Requirements


History

There is no history relevant to this procedure.


Appendices

URAS Crosswalk

IFR Revenue Class Definitions