66 (1).doc - State University of New York Community College...

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State University of New York Community College Guidelines for Financial Reporting and Budgeting Community Colleges are required to complete their budget forms and annual report forms in accordance with the guidelines established by the New York State Comptrollers Office. Budget and annual report forms will include current operating funds of the college only. The revenue and expense classifications are generally in accordance with the National Association of College and University Business Officers (NACUBO) Financial Accounting and Reporting Manual and the GASB with the following exceptions: Related organizations such as Foundations, Alumni Associations, Student Governments and Dormitories will be excluded . Activity of auxiliary enterprises, such as bookstores and food services that are run outside the operating budget will be excluded . Only when the campus runs and manages the activity within their operating budget should the revenue and expense activity be included. The following definitions for revenue categories and expense functions are detailed to assist campuses in completing their forms. In instances where there may be more than one place to report an item, the State University, along with members of the Community College Business Officers Finance Committee, have determined where the item will be reported. This will ensure uniform reporting among all campuses. The following definitions apply to the Current Fund of the college only. If you need assistance with any other funds, please refer to the NACUBO financial accounting and reporting manual. CURRENT FUND REVENUE CATEGORIES TUITION AND FEES Include all tuition and fees (net of refunds and provision for bad debts) for educational purposes. GOVERNMENT APPROPRIATIONS (Federal, State, Local) This category includes amounts received for current operations from or made available to the college by legislative acts or a local taxing authority. Government appropriations can be unrestricted or restricted. If the restriction placed on the appropriations limit their use, they should be classified as restricted. Government appropriations should be classified to identify the government level of the legislative body making the appropriation (federal, state, or local). This category does not include government grants and contracts. GOVERNMENT GRANTS AND CONTRACTS (Federal, State, Local) Includes all unrestricted amounts received or made available by grants, contracts, and cooperative agreements from government agencies for current operations; and all amounts received or made available through restricted grants, contracts, and cooperative agreements to the extent expended for current operations. Page 1 of 8
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PRIVATE GIFTS, GRANTS, AND CONTRACTS Amounts from nongovernmental organizations and individuals, including funds resulting from contracting for the furnishing of goods and services of an instructional, research, or public service nature. Include all unrestricted gifts, grants, and bequests as well as restricted gifts,
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