Surplus Property Proceeds

Processing Proceeds from All Campus Sales

1. Campus receives authorization to dispose of equipment locally:
   1. State owned assets - authorization via LDA from OGS.
   2. SURF assets - authorization from campus SURF Operations Manager (OM) under SURF procedures.
   3. Other non-State assets - local procedures/internal controls.
2. Campus elects to sell equipment and conducts sale in accordance with local procedures/internal controls.
3. Campus collects proceeds from sale and applicable sales tax.
4. Campus deposits proceeds from the sale and sales tax into campus sole custody account.
5. Campus issues a check from the sole custody account to NYS Department of Taxation and Finance for sales tax based on applicable sales tax due dates.
6. Campus directs revenue from the sale to the appropriate account based on Exhibit A.

Processing Proceeds from OGS Surplus Sale/Auction

1. OGS conducts sale (non-vehicles) or auction (vehicles).
2. OGS collects sale proceeds and applicable sales tax for items sold.
3. Fund source identified on surplus declaration is reviewed by OGS. Fund source is based upon PCS fund code.
4. OGS directs sales tax to NYS Department of Taxation and Finance.
5. OGS directs sale revenues as follows:
   1. NYS General Income Fund.
   2. Forwards check made payable to SUNY Finance and Business.
6. SUNY Finance and Business (Business Office) directs deposits into the appropriate accounts based on Exhibit A.

 

PCS Fund Code	Description	Source Amount	*System Administration Deposit Account	**Local (Campus) Deposit Account
1	State, Capital - First Instance (Bonded)	SUNY Income Fund	SUNY Income Fund	SUNY Income Fund
2	State, Capital - Hard Dollar (Appropriated)	General Fund	NYS General Fund	State Purpose
3	State, Operating	General Fund	NYS General Fund	State Purpose
4	Dorm Authority	Residential Bonds	University-Wide Dorm Income Fund	Campus DIFR
5	Auxiliary Service Corporation	Not Applicable	Not Applicable	Auxiliary Service Corp
6	Research Foundation	Research Foundation	Not Applicable	Research Foundation (Note 1)
7	Gift	General Fund	NYS General Fund	State Purpose
8	Other	General Fund	NYS General Fund	State Purpose
9	Mixed Source Funds	General Fund	NYS General Fund	State Purpose
A	Federal	General Fund	NYS General Fund	State Purpose
B	Endowment	Restricted Current Fund	Restricted Current Fund	Restricted Current Fund
C	Grant	General Fund	NYS General Fund	State Purpose
D	Income Reimbursable	Income Fund Reimbursable	SUNY Income Fund	Campus IFR Account
E	Loan	Not Applicable	Not Applicable	Not Applicable
F	ASC - State Owned	General Fund	NYS General Fund	State Purpose
G	Dormitory Replacement	General Fund	NYS General Fund	State Purpose
H	Operating Replacement	General Fund	NYS General Fund	State Purpose
J	Dorm IFR	Dormitory Income Fund Reimbursable	University-Wide Dorm Income Fund	Campus DIFR
K	Campus Foundation	Not Applicable	Not Applicable	Campus Foundation
L	Hospital IFR	Hospital Income Fund Reimbursable	SUNY Income Fund	Campus HIFR
M	State, Operating (COPS)	General Fund	NYS General Fund	State Purpose

* OGS Sale Proceeds
** Local (Campus) Sale Proceeds
Note 1: SURF Operations Manager will identify account into which proceeds will be deposited