IFR Accounting

Income Fund Reimbursable (IFR) accounts are self-supporting accounts that support activities related to the campus' mission. These accounts have clear and defined income/expenditure relationships. A unique aspect of IFR accounts is their ability to carry forward cash balances from one fiscal year to the next. An IFR account should have basically one purpose and one 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.

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

1. General Income Fund Reimbursable
2. SUTRA Income Fund Reimbursable (State University Tuition Reimbursable Account.)
   These accounts were established to provide State University 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 Accounting Frequently Asked Questions

1. When should an IFR account be used?
   • An IFR should be used when ever the activity is state activity. All activity should go through an IFR unless there is an approved exception.
2. How come it seems to take so long to see my cash deposits?
   • All deposits are made at the campus Student Accounts Office. Every 15th and 30th (or 31st) of the month a revenue summary report is generated in Legacy identifying the total of all deposits made to each account. The Revenue Accounting Office reviews this output and subsequently enters the revenue information into the SUNY and Pegasus systems.
   • As this revenue summary report is only able to be run every 15th and 30th (or 31st) of the month, deposits will only be able to be viewed in Legacy and Pegasus after that time. For example, a deposit made on March 3rd will not appear in Pegasus until after the revenue summary report is run on March 15th. This is a system limitation and is not due to a delay by the Revenue Accounting Office.
   • Additionally, when viewing cash balances in an IFR on the SUNY system, the cash amounts reflected for each month are for the last 15 days of the prior month and the first 15 days of the current month. For example, if you look at the month of January, the cash would be for the periods of December 16-31, and January 1-15.
3. An error was made and a deposit went into the wrong account. How can I get it corrected?
   • Contact or email either the Student Accounts office or Revenue Accounting explaining the error and indicate the correct account. A transfer of cash between the accounts will be processed.