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Please use the Table of Contents on the right to access sections of the annual report.
Introduction
The Uniform Revenue Accounting System (URAS), which was developed and is monitored by the University Controller's Office, provides the basis for revenue accounting on the Fredonia campus. Through URAS, all financial activity carried out by the Office of Student Accounts is recorded, monitored and reported to SUNY Central Administration.
Pertinent data related to the billing, collection and disbursement of revenue in the Student Accounts Office as reported through the Revenue Accounting Office during the fiscal year is presented each year in the Revenue Accounting/Student Accounts Report.
For the first time students registering for J-Term and Summer Sessions signed up for classes only through web registration or in person.
During the 2006-2007 fiscal year, there was again an increase in web credit card payments for students' bills, with $3,162,321.00 collected through the web, an increase of 39 percent. Credit card payments received by the Student Account Office increased slightly. For the first time, web credit card payments were higher than those received through the Fredonia lockbox. The lockbox credit card payments decreased $296,731.00 or 11 percent this year.
Payments from College Savings Plans grew an incredible 705% in the 2006-2007 year, up from $174,159.00 in the previous year to $1,402,280.00.
Two new federal grant programs, the Academic Competitiveness Grant (ACG) and the Science and Mathematics Access to Retain Talent Grant (SMART), provided $344,109.00 in awards to students during the 2006-2007 year.
A brief summary of the data presented in the report follows:
- Total billed revenue for student charges totaled $ 55,815,293.00
- Current year receivables for the 2006-2007 year reported to Albany at June 30, 2007 were $285,226.00
- Total collections from student charges and IFR accounts was $69,826,656.00
- Total disbursements from the 10,822 checks and 419 direct deposits processed was $25,432,075.00
If you view the Fund Graphs link, it will illustrate the sources and the application or uses of the funds that were received and processed through the Student Accounts Office and the URAS system this past year.