NY CFR Surpluses: When to Amend and How to Apply Them скачать в хорошем качестве

NY CFR Surpluses: When to Amend and How to Apply Them

NYSED has released major clarifications on tuition‑based program surpluses—changes that impact how providers manage reserves, offset program losses, and decide whether to amend prior CFR filings. This session breaks down the new guidance in plain language so you know exactly when and how surpluses can be applied. In this detailed walkthrough, Ken Cerini explains the newest surplus guidance issued by the New York State Education Department (SED) for 2022/23–2025/26 and beyond. These updates reshape how providers can use surpluses across tuition‑based programs—and in certain cases, SEIT—giving organizations more flexibility to manage overspending, non-direct care screens, and total cost screens. Ken also discusses when it may make sense to amend previously filed CFRs to apply surpluses, how to ensure proper board approval and documentation, and what these changes mean for your organization’s financial statements and net assets. What this video covers: -Annual surplus percentage limits through 2027 -When a surplus from one tuition‑based program can offset losses in another -How SEIT surpluses can—and cannot—be used -The impact on non-direct care and total cost screens -Whether to amend previously filed CFRs -What SED expects for board approvals and financial‑statement disclosures -Clarification on retroactive raises vs. bonuses under the RCM Download the slide deck here: https://hubs.li/Q03-SxDr0 Key Takeaways: -Surpluses from one tuition-based program can offset allowable losses in other tuition-based programs—with board approval. -SEIT surpluses may offset tuition‑based losses, but tuition surpluses cannot cover non‑auditable fee‑based programs. -Providers may want to revisit 2022/23–2024/25 CFRs to determine if amending filings could strengthen their financial position. -Board resolutions must clearly document the amount, year, and program(s) associated with surplus usage. #NYCFR #NYSED #TuitionBasedPrograms #SpecialEducationFinance #NonprofitFinance #CFRCompliance #SEIT CHAPTERS 00:00 – Intro: New SED surplus clarifications 00:16 – Background: When surplus rules took effect 00:40 – Annual surplus percentage limits (2022–2027) 00:57 – Why clarification was needed 01:22 – Can surpluses from one program offset losses in another? 02:08 – SED confirms: Surpluses may be shared across tuition-based programs 03:06 – What counts as an allowable loss (non-direct & total cost screens) 03:39 – Using a surplus to cover a screen in the same program 04:25 – Using surpluses to smooth costs across multiple programs 04:54 – Using tuition-based surpluses to offset SEIT losses 06:03 – Why SEIT is treated differently from other fee-based programs 07:00 – SEIT as an "auditable" program 07:46 – Treatment of SEIT surpluses under the RCM 08:24 – Are SEIT surpluses unrestricted? (SED clarification) 09:15 – Using SEIT surpluses to offset tuition-based program losses 09:46 – Limitations: SEIT surpluses cannot offset other fee-based services 10:21 – Open Q&A: Clarifying program-to-program surplus usage 11:10 – Non-direct care screens and surplus application concerns 12:07 – Clarifying SEIT-only program limitations 13:09 – Investment income earned on surpluses 14:20 – SEIT-only providers: How surplus usage applies 15:01 – More Q&A: Surplus reporting and restrictions 16:00 – Should you amend 2022/23–2024/25 CFRs? 17:11 – SEIT surpluses vs. tuition surpluses in financial statements 18:00 – Board approval requirements for surplus usage 19:02 – How to document board resolutions correctly 19:53 – Will amended CFRs require recertification? 20:23 – Additional SED clarification: Retroactive raises 21:00 – Distinction between bonuses and raises under the RCM 22:00 – Can retro raises be issued after 2.5 months? 23:07 – Summary of annual surplus limits (2022–2027) 23:38 – SEIT surplus rules vs. tuition surplus rules 24:13 – How surpluses appear on CFRs and financial statements 25:03 – Will SED memorialize these clarifications? 27:01 – Discussion: RCM limitations on bonuses 28:14 – Raises vs. bonuses and compliance considerations 29:00 – Retroactive raises and permanency 29:42 – Reporting surpluses on the CFR 30:41 – Final guidance and closing remarks