New York, NY - The Research Foundation of The City University of New York (RFCUNY) is pleased to announce the implementation of the Kuali Financial System (KFS) version 4.1.1 on July 1, 2013. RFCUNY's implementation includes General Ledger and Chart of Accounts; Purchasing; Accounts Payable; Accounts Receivable; and Contracts & Grants Management (including billing, indirect cost recovery, and budgets).
RFCUNY began exploring the possibility of utilizing KFS in 2008. After successfully completing a "proof of concept" in collaboration with Kuali Commercial Affiliate rSmart, KFS was administered as a pilot for RFCUNY's central office operations on July 1, 2010 and subsequently extended to all Grants and Contracts Management in the field – some 3,300 active projects at the 24 colleges and professional schools of The City University of New York (CUNY) – on July 1, 2013. RFCUNY President Richard F. Rothbard stated "Kuali is finally here and available to support our entire accounting operation in a virtually seamless and transparent way." Many of RFCUNY's home-grown systems have been successfully integrated into KFS.
About the Research Foundation
The Research Foundation of The City University of New York is a not-for-profit educational corporation chartered by the State of New York in 1963. For the past 50 years, the Research Foundation has managed private and government sponsored programs at The City University of New York, the nation's largest urban public university.
The Research Foundation was created because the distinctive environment of sponsored programs demands flexibility and the capacity to respond quickly to a wide variety of conditions and changing sponsor requirements. The Research Foundation supports CUNY faculty and staff in identifying and obtaining external support (pre-award) from government and private sponsors and is responsible for the administration of all such funded programs (post-award), by providing the administrative infrastructure that supports sponsored program activities. In FY2013, awards totaled $400 million.