Treasury & Cash Management

This unit is responsible for managing the University's tax levy and non tax levy revenue and cash flow. It consists of three areas: Student Financial Aid, Cash Management and the University Bursar.

Student Financial Aid Disbursements (SFA) is primarily concerned with the disbursement of financial aid funds from governmental and college sources to CUNY students. In fulfilling this responsibility, this office is charged with ensuring compliance with the disbursement and reconciliation requirements mandated by federal, state, and city regulations. SFA is responsible for the following components of aid disbursements: Student Financial Aid Payroll Processing and Student Record and Cash Reconciliations for Federal Programs including Federal Perkins Student Loans.

Student Financial Aid Payroll Processing oversees the disbursement process and refunds to students in the forms of checks and electronic payment on behalf of the Colleges for all federal financial aid programs, including loan programs, and a number of NYS, NYC and college funded student financial aid programs. It also manages the disbursement of federal and institutional work-study programs, the issuance of the 1098T federal tax forms and prepares and publishes the schedule of financial aid and federal work study payroll processing dates.

Student Record and Cash Reconciliations is responsible for processing the return of federal Title IV funds (R2T4) for students who totally withdraw from a college. In this regard, it has conducted extensive training for college staff on the R2T4 regulations in order to ensure compliance. It also reconciles the drawdown of federal Pell and Direct Loan funds with the college/University disbursements and serves as liaison to the Common Origination and Disbursement system (COD) of the U.S. Department of Education (ED). Along with the SFA Payroll unit, this unit also works closely with the Cash Management Office and Revenue Management Office in the drawdown of Federal Financial Aid funds, and coordinates the Federal Perkins Loan (Perkins Loan) programs with the U.S. Department of Education, the CUNY Colleges and third party loan servicers contracted by the University for billing and collection activities.

Cash Management (CM) performs a number of important functions within the University Controller's Office. One of the most important functions is overseeing the centralized collection of tuition and fees. These payments include online credit cards and ACHs, the NYS Tuition Assistance Program (TAP), Federal Title IV student financial aid tuition deductions, deferred tuition payments collected by a third party and state tax offsets.

CM handles the electronic drawdown of Federal (Title IV) funds including Pell, FWS, SEOG, Teach Grants and Direct Loans for student financial aid disbursements. Annually, CM draws down over $875 million of Title IV funds through the FED-wire system and administers over $3.75 million in Perkin Loans. The withdrawals must adhere to the Federal regulations governing the drawdown of Title IV funds for financial aid payroll disbursement. The unit also handles the disbursement of many college grants, stipends and other special program funds.

The CM office manages the books for the University Student Senate and handles the deposits and disbursements for Income Fund Reimbursable (IFR) monies.

Finally, Cash Management is responsible for University's treasury functions. These include maintaining the central office bank accounts, custodial responsibility for central office funds, maintaining banking relationships, issuing guidance on treasury and banking matters, liaising with the State/City's Finance Department; preparing reports on cash activity and cash flow forecasts for central office and College accounts; and prudently investing the University's short-term investments.

University Bursar ensures that all student-related financial transactions are properly recorded and managed across the University's various colleges and professional schools. Moreover, the University Bursar develops policy, procedural, and operational matters related to the CUNYfirst Campus Solutions Pillars and Student Financial modules; interprets and updates the University's Tuition and Fee Manual; and, creates and implements deferred tuition payment and collection processes.

Contact Us

Office of Budget and Finance
230 West 41St Street
New York, New York, 10036
(212) 397 – 5600

Office Internal Audit and Management Services
(646) 746-4290

University Budget Office
(646) 746-4270

Office of the University Controller
(212) 397-5600