Performance Monitoring & Fiscal Year End Accounting

At a minimum a review of the rate calculation for a service center under $2 million must be completed annually ($2 million and above must be completed biennially) and submitted to the RF’s Assistant Controller for Related Entities to ensure any resulting surplus or deficit is carried-forward into the next year’s rate calculation. The analysis must include the variance between revenue and actual costs for the period.

Periodic (e.g., semi-annual) variance analysis is encouraged to minimize large variances at fiscal year-end. Rates may be adjusted mid-year based on periodic analysis.

To facilitate the variance calculation, revenues and costs should be identified (accumulated in the RF/CUNY First account) by product/service. Each unit must have its own dedicated account number into which all revenues and costs are recorded.

Year-end transactions that transfer funds to remove deficits must be flagged to ensure exclusion from the F&A rate calculation. The RF must be notified of any such transfers.

• Unrelated Business Income Tax (UBIT) - Any questions regarding Unrelated Business Income Tax (UBIT), sales tax, or other transactions and relationships with outside users should be discussed and resolved prior to final approval with the College Campus Business Office.