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Budget Development

Fiscal Year 2023/2024 Updates

SUNY has approved the FY23/24 budget on 9/12/2023 and all allocations have been loaded into BI.

Each division has completed their final submissions for their respective FY23/24 target reductions. For more information about the reductions achieved by division please see the FY23/24 Divisional Reduction Status Update Report

On Jan. 31, 2023, the director of budget and financial reporting issued the FY 2023/2024 budget development memorandum to the president’s cabinet. Read the Memo

Budget Facts & References

Budget Item Description Budget Rates
FY2023/24 Summer Pooled Offset Rate 31.0%
FY2023/24 Fringe Benefit Rate 63.95%
Fiscal Year 2024/25 Estimated Fringe Benefit Rate 66.66%
Administrative Overhead Rate 5.6%
Maintenance Overhead Rate 8.7%
Minimum Wage (effective 12/31/2022) $14.20


Budget Development, Guidance & Templates

Information on budget development and training sessions for FY24/25 is forthcoming. Learn more about budget basics in the Budget 101 Training Guide.

Budget Development Timeline 24/25

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