State Accounting

Income Fund Reimbursable (IFR) accounts are self-sustaining accounts that support activities related to the campus' mission. These accounts have clear and defined income/expenditure relationships. IFR accounts are unique in their ability to carry forward cash balances from one fiscal year to the next. An IFR account typically has one purpose and one continuous revenue source. Each IFR account should maintain a positive cash balance. The expenses charged to the account should be covered by the revenue which the account generates.  For additional information and requirements please refer to policy Income Fund Reimbursable Programs and Accounting #205.

There are three types of Income Fund Reimbursable accounts on campus:

  1. General Income Fund Reimbursable (IFR)
  2. State University Tuition Reimbursable Account (SUTRA)
    These accounts were established to provide the ability to retain a limited amount of tuition revenue generated in excess of targeted levels and create entrepreneurial incentives for campuses to expand enrollment and programs.
  3. Dormitory Income Fund Reimbursable (DIFR - IFR)

IFR, SUTRA, and DIFR fund sources operate in a manner similar to that of a checking account. Revenue is deposited into the account and expenditures are processed from the account in accordance with the purpose of the account as stated when it was established. All deposits to campus IFR accounts are processed through the Student Accounts office and are credited to individual units by the Accounting Office. For a more in depth review, please refer to Accounting 101. Visit the  event page for upcoming dates for this presentation. 

Opening an IFR Account

The following are the steps you should use when requesting a new State account:

  1. If/when setting up a new line of business, users must obtain a New Merchant approval. Please review Becoming a Campus Merchant and submit a 
  2. How much revenue will the account generate? 
    1. If the account will be used to record fiscal activity for a service supported by a user fee, that fee must first be authorized and approved by the Chief Financial Officer. Please see University Fees.
    2. If the account will record chargeback operation activity, that must receive approval first. Please see Chargeback Forms and Information.
    3. The campus uses SUNY's Uniform Revenue Accounting System (URAS) for proper revenue classification. This provides for standardization of financial reporting across SUNY. The Accounting Office will determine proper revenue classification.
  3. What expenses will be charged to the account? 
    1. The campus uses National Association of College and University Business Officers (NACUBO) classification codes for proper expense classification. This provides for consistent financial reporting and facilitates benchmarking against peer institutions. See NACUBO Classifications.
    2. All State account activity is required to follow NYS procurement rules and regulations. More information available on the Accounts Payable website.
    3. Indirect costs may be assessed on certain account activity. See Indirect Costs for more information. 
  4. Consider whether the account activity will require the use of sub-accounts. Review campus's Sub-Accounting Policy.
  5. Use information determined in #1-4 to fill out and submit a
  6. The submission will be reviewed y the Financial Manager, Divisional Vice President, Business Office, and CFO.
  7. If approved, the Accounting Office will submit the request to SUNY Administration to create the account and will setup the required configurations in Banner and SUNY systems. 
  8. Once set up is complete, all interested parties (Requesting Department, Business Affairs, Human Resources) will be notified that the account has been created. 

Closing a State Account

  1. Account closure requirements: 
    1. Cash balance must be zero
    2. Allocation must be zero
    3. Encumbrances must be zero
    4. Labor distributions must be updated with Human Resources
    5. Detail codes may need configuration update and/or inactivation
    6. No pending activity, including indirect costs (overhead/fringe)
    7. If closing a master account, all sub-account must be closed (and any pending, or posted activity cleared)
  2. Send an email request for closure to business@binghamton.edu and copy the Financial Lead for  your division and/or school. If you do not know who you're Financial Lead is, please reference the Accounting 101 presentation above. 
  3. If approved for closure, the Accounting Office will update account configuration in the financial system and add "CLOSED" to the beginning of the account description. 
  4. Once full closure setup is complete, an email confirmation will be sent to the requesting party and division/school Financial Lead. 
  5. For more information on the account closure process please see Preparing Accounts for Sub-accounting or Closure