Accounting & Financial Reporting
This unit is responsible for developing and implementing the University's accounting policies and procedures and is made up of the following four groups: Financial Reporting and Analysis, Revenue Management, Data Integrity and Accounts Payable.
Financial Reporting and Analysis has responsibility for preparing the University's consolidated financial statements. The functions of this unit include: maintaining the University's fixed asset inventory system; performing the accounting for the University's Plant Fund assets and debt related activity; coordinating the audits of the College Auxiliary Enterprise Corporations and College Associations; preparing financial reports for various government agencies such as the Integrated Postsecondary Education Data System (IPEDS); providing year-end and periodic training to business staff at CUNY's colleges; and, serving as liaison to the University's external auditors;
Revenue Management is comprised of the following two groups: Tuition and Fees and Student Financial Aid Accounting.
The Tuition and Fees group coordinates, performs and analyzes the accounting and reporting of all tuition and fees on behalf of the Colleges, including those funds transferred to the City University Construction Fund (CUCF) and acts as a liaison with external collection agencies. This unit also works with the New York State Department of Taxation and Finance to recover monies owed the University through a process known as tax offset, whereby tax refunds due to the University's debtors are directed to the University.
The Student Financial Aid Accounting group maintains fiscal records of all federal, state and city financial aid programs for the CUNY campuses. This includes: recording financial aid payrolls; preparing mandated financial aid reports, such as the Fiscal Operating Report and Application to Participate (FISAP), as required by Federal, State, and City regulations; preparing State vouchers for various programs, such as SEEK, CUSTA, tuition waiver reimbursements, and matching funds for the Federal Work Study (FWS) and Perkins Loan programs; preparing City vouchers for College Discovery (CD) stipends; coordinating the calendar year W-2 process for student financial aid; and billing external agencies for their share of FWS funds.
Data Integrity reconciles data in the CUNYfirst General Ledger and the City and State financial management systems; prepares monthly reconciliation reports; reviews the interfaces between the various University financial systems; and, oversees the receipt and processing of payroll data from the State and City payroll. This unit is also responsible, for designing, modifying, testing and implementing user programs, mainframe screens, and reports as required or requested by changes in policies, procedures or law, as well as overseeing all activities associated with the creation of the new fiscal year's computer files.
Accounts Payable (AP) handles the necessary tasks to insure the timely input of invoices and vouchers in accordance with University, State and City regulations. The payments processed by AP include reimbursement requests to the State and City, vendor invoices, travel vouchers, petty cash replenishments, utility payments, Research Foundation vouchers, and fringe benefit payments resulting from labor contract commitments. The AP staff interacts on a daily basis with the State and City Comptroller's Offices, vendors and Central Office departments in order to minimize errors and problems in the payment process and ensure prompt payment.
Office of Budget and Finance
230 West 41St Street
New York, New York, 10036
(212) 397 – 5600
Office Internal Audit and Management Services
University Budget Office
Office of the University Controller