Campus Financial Reporting Package - General Information
July 01, 2004
This procedure item applies to:
As part of the annual preparation of the State University of New York’s financial statements, the campus financial reporting package has been developed to capture financial data that is only available at the campus level.
It is necessary to obtain financial information that is not available within the University-wide accounting systems to prepare the annual financial statements of the University. Each campus should complete the following exhibits:
Specific instructions precede each form. All forms must be returned regardless of applicability. A copy of the completed reporting package and the documentation supporting the data must be maintained at the campus for purposes of an audit trail to serve as a means of answering any questions raised by the office of the University controller, the office of the University auditor or the University's independent auditors.
Each form has a signature line for the campus reviewer of the data included in the forms. Forms must be signed by the business officer or designee.
Questions regarding the year-end reporting package should be directed to the University controller's office at (518) 443-5463. All completed forms (Forms A - I) should be submitted by the requested date to the University controller’s office.
The following are the specific reporting requirements and related deadlines:
Form A – Annual Uniform Revenue Accounting System Reports (URAS)
In accordance with the requirements of the uniform revenue accounting system (URAS), the fiscal year-end reports are due no later than July 31. The required reports described in the URAS manual are delineated in the instructions for preparation of the URAS reports on Form A. The campus is required to report its URAS trial balance by entity through the online general ledger URAS module. All other URAS reports and exhibits must be provided in hard copy by mail or faxed to the university controller's office.
Forms B – E
The following forms contain survey information to capture relevant data that is not otherwise reported in other University accounting systems (e.g., URAS and the Central Accounting System):
Each application includes instructions to assist the preparer in completing the forms required as part of the year-end reporting package. The completed forms listed above must be returned to the University controller's office by July 31.
Note: All fiscal year expenditures that are processed during the period July 1 through August 31, with a liability date prior to July 1, will be recorded as accrued liabilities. Campuses processing activity during this time period should use the utmost care in coding activity with the proper liability date.
Form F – Schedule of Collections, Works of Art and Historical Treasures
The University is required to capitalize works of art, historical treasures and similar assets at their historical cost or fair value at date of donation (estimated if necessary) whether they are held as individual items or in a collection. Please provide information on collections, historical treasures and works of art received, purchased and disposed of by the campus during the fiscal year (items owned by the campus-related foundation should not be included). The information needed from the campuses is reflected on the schedule of collections, works of art and historical treasures (Form F). The form must be provided in hard copy by mail or faxed to the University controller’s office by the first week in August.
Form G – Student Account Activity
The University is required to identify the scholarship allowances received by/for students and is required to report this as scholarship allowance (contra-revenue) against the appropriate revenue category to which this revenue was applied (i.e., tuition and fees, residential facilities, meal plans, etc.). Student account activity that cannot be specifically identified within the University-wide accounting system will need to be provided by the campus. The information needed from the campuses is reflected on the schedule of student account activity (Form G). This form must be provided in hard copy by mail or faxed to the University controller’s office by the first week in August.
Form H – Campus-related Entities - Financial Statement Information
Year-end audited financial statements for the campus-related foundations and their affiliates, student housing corporations and real estate management corporations must be completed and submitted in hard copy by mail or faxed to the University controller’s office. Financial statements should be for the most recent fiscal year-end of the foundation on or before June 30. In addition, financial information needed from the campuses is reflected on Form H. The financial statement and this form must be provided in hard copy by mail or faxed to the University controller’s office by September 15.
Form I – Gifts and donations to the campus
Although the campus-related foundations have been established to receive and manage gifts (including real property and equipment) in support of campus programs, in some cases, gifts are given directly to a campus. The University is required, in Form I, to recognize all gifts, including capital gifts such as computer hardware and software, given directly to the campus (items given to the campus-related foundation should not be included on this form).
Compensated balances (vacation and sick leave) will be obtained centrally from the University online time accrual system (TIMA). In order to give campuses more time to update TIMA and our office more time to review the data, we are requesting balances as of May 31 instead of June 30. For those campuses that have an automated accrual system, a file transfer of this information to the TIMA module will be necessary. The final compensated balance update to the TIMA module must be completed no later than July 31 for all campuses.
It is important to note that the information will be part of the University-wide financial statement audit. Therefore, all supporting documentation should be retained. If you any questions, please contact the University controller's office.
Form I - Gifts and Donations to the Campus
Form H - Campus Financial Reporting Package - Campus-Related Entities
Form A - Annual Uniform Revenue Accounting System Reports
Form B - Campus Financial Reporting Package - Prepaid Expenses
Form C - Campus Financial Reporting Package - Inventories
Form D - Campus Financial Reporting Package - Leases
Form E - Campus Financial Reporting Package - IFR Receivables and Accrued Revenue
Form F - Schedule of Collections, Works of Art and Historical Treasurers
Form G - Schedule of Student Account Activity
Uniform Revenue Accounting System (URAS) Manual
Online Time Accrual System (TIMA)
There is no other information relevant to this procedure.
The following link to FindLaw's is provided for users' convenience; it is not the official site for the State of
NYS Education Law §355 (Powers and duties of trustees – administrative and fiscal functions)
In case of questions, readers are advised to refer to the New York State Legislature site for the menu of.
Office of the University controller accounting requirements.
There is no history relevant to this procedure.
There are no appendices relevant to this procedure.