This section includes a discussion of the New York State Financial Reporting Entity for the purpose of outlining the scope of what is and what is not included in the State's periodic financial reports and why. The principles described in this chapter are applicable only to the central State Government; that is, the agencies, departments, boards, commissions and other units (hereinafter "agencies"), which are accounted for within the State's fund structure maintained or tied in with the SFS. It does not apply to the independent public benefit corporations and authorities, which maintain their own accounting systems but which report pursuant to State laws and regulations promulgated by the Comptroller.

This section also establishes the reporting framework for the SFS applicable to all agencies. However, numerous agencies, of necessity, (1) maintain their own independent systems (e.g., City University of New York - Senior Colleges); or (2) maintain subsidiary systems to account for certain revenues (e.g., income tax collections, patient fees) and certain expenditures (e.g., Medicaid, Federal highway grant programs); or (3) maintain independent accounting records (e.g., accounts receivable). Accordingly, these agencies provide certain receivable and payable data related to programs they manage (e.g., Medicaid or local assistance programs) where timing is such that, as of a particular reporting period, relevant data has not yet been entered into the SFS.

Guide to Financial Operations

REV. 01/01/2017