Fund Management responsibilities include but are not limited to:
- Assist in developing annual operating budgets and in-year financial projection.
- Maintain and manage fund group activity (transactions, balances, and data analysis).
- Preparation and dissemination of financial data.
Individual Fund Groups
Unrestricted College Funds
Deans Funds
Designated Funds
Sponsored Funds - ILR Sponsored Research Office
Restricted Gifts
Gifts associated with an endowment - Cheli Secord
Gifts not associated with an endowment - Cheli Secord
Sponsored Funds
Fund Group
Contracts & Grants
Sub Fund Group
Federal, Sponsored Gifts, Non-governmental, New York State Local, New York State, Other Government, Pre-Award, Program Income
Definition
An award of funding that results after a formal proposal is submitted to an outside sponsor (most commonly an agency of the United States Government or a New York State Agency). The receipt of funds requires a signed award under which the University agrees, for a specified dollar amount, to perform a certain scope of work according to specific terms and conditions, including period of performance. The individual fiscal period for a sponsored project is specified on each award. At Cornell fiscal year-end (June 30th), the balances in these accounts remain in the accounts.
General Purpose NYS Appropriated Funds
Fund Group
Government Appropriations
Sub Fund Group
APSTAT
Definition
Unrestricted funds appropriated by the State of New York through the State University of New York (SUNY) for distribution to the Contract Colleges at Cornell. General purpose state funds in ILR are used to cover salary expenses and are managed by the Office of Financial Operations and Budget Planning. The funds in these accounts must be fully expended by the end of the Cornell and SUNY fiscal years (June 30th). Not fully expending these funds in a given fiscal year could jeopardize future year funding levels.
Restricted Gifts
Fund Group
Restricted Gifts
Sub Fund Group
RGGIFT
Definition
Some Restricted Gifts are contributions to ILR where the donor has imposed stipulations on how to expend the funds and ILR has a fiduciary responsibility to use gift funds as specified. Other Restricted Gift accounts include program income (revenue received from either an external or internal party that is directly generated by a sponsored activity or earned as a result of the sponsored award) and gifts with specific donor-imposed reporting requirements. The balances in these accounts remain in the accounts at Cornell fiscal year-end (June 30th). The categories of income which are normally planned in the Other Restricted category include gifts, program income, and investment income.
Unrestricted College Funds
Deans Funds
Fund Group
General Funds
Sub Fund Group
GNAPPR
Definition
Unrestricted funds generated by the college for current use approved for distribution by the Dean and allocated to departments. These funds are primarily derived from tuition income, indirect cost recoveries, and earnings on investments. Account balances in these funds are returned to the dean at the end of Cornell’s fiscal year (June 30th).
Designated Funds
Fund Group
General Funds
Sub Fund Group
GNDEPT
Definition
Unrestricted funds that have been specified for use in a particular department (for example, support of specific programs or faculty research accounts) or have been generated by activity of that department in return for providing a specific service. With the exception of the Extension Division’s Regular College Fund accounts, which are returned to the Extension Operating Reserve, the fund balances in these accounts remain in the accounts at Cornell’s fiscal year-end (June 30th). The categories of income which are normally planned in designated (department) funds include, but are not limited to, earnings on investments, unrestricted gifts, departmental sales and services, transfers in to support specific department activities, and program income.