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IFR Fund source request form

Requesting a new IFR Fund Source

IFR Background & Requirements

Income Fund Reimbursable (IFR) accounts are self-sustaining, state activity accounts that support activities related to the campus' mission. IFR accounts are unique in their ability to carry forward cash balances from one fiscal year to the next. To be established, these accounts must:

1. Be self-sustaining with clear and defined income/expenditure relationships.

2. An IFR account typically has one purpose and one continuous revenue source.

3. Each IFR account should maintain a positive cash balance. The expenses charged to the account are typically covered by the revenue which the account generates.

Opening an IFR Account

(NOTE: If the IFR account will be for a service supported by a user fee, that fee must first be approved and established by the Associate Vice President for Administration.)

The following are the steps you should use when requesting an IFR account:

1) Determine what the account is to be used for. How much revenue will this account generate? What will your expenses (budget) be? This information should be shown on the below “Departmental Request Form for IFR Account”.

2) Once you have determined this information you should then receive approval from your Vice President.

3) Along with the Dean’s or VP approval, submit your requestto Scott Hatch in the Business Office who will check the form for completeness and accuracy.

4) The Business Office will then submit the form to the Vice President of Administration for approval.

5) If approved the Business Office will submit the request to SUNY System Administration to create the account and will perform the required set ups in Banner and SUNY.

6.) Revenue Accounting will inform the requester and all interested parties once the account has been created (Assoc. VP for Admin., Budget Office.)

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Last Updated: 9/2/14