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
All guidance for FY24/25 budget development has been sent out to account managers.
In-Person Budget Development Training
FY 24/25 budget development training sessions have been scheduled:
March 18, 2–3 p.m. in the Kehoe 6th floor conference room
March 19, 10–11 a.m. in the Kehoe 6th floor conference room