Financial Planning and Resource Management

Erin Archer Named University Treasurer

Erin Archer, CFA, has been named Syracuse University treasurer. With nearly 20 years of experience, Archer has an impressive track record of significant accomplishments in managing complex treasury and investment responsibilities. Most recently, she served as the treasurer at DePaul University in Chicago, where she oversaw the university’s overall investment strategy and endowment. Prior to joining the higher education sector, Archer was an equity analyst, covering domestic, international and emerging market companies for a number of investment banks and asset managers.

Archer’s appointment was approved by the executive committee of the University’s Board of Trustees. She will begin her tenure on Oct. 12 and will report to Amir Rahnamay-Azar, senior vice president for business, finance and administrative services (BFAS) and chief financial officer.

Read the full story at Syracuse University News.

Syracuse University Will Not Implement 2020 Payroll Tax Deferral

On Friday, August 28, the Internal Revenue Service (IRS) and Treasury Department issued guidance on a potential employee payroll tax deferral directed by a presidential memorandum released on August 8, 2020. The deferral provided employers the option to defer withholding the employee portion of social security tax payments from September 1 through December 31, 2020, with the deferred taxes to be repaid from January 1 through April 30, 2021. The deferral applied only to employees whose wages are less than $2,000 for a weekly pay period and to salaried workers earning less than $104,000 per year.

After consulting with tax, legal, and compensation experts, the University has decided not to participate in the optional deferral. Since this program only postpones tax payments, the University chose this option in an effort to safeguard our employees from higher withholdings beginning January 2021.

If you have any questions, please contact the Payroll Service Center at 315-443-4042 or payroll@syr.edu.

Message from the Comptroller Regarding Paper Paychecks

All Syracuse University paper paychecks dated Wednesday, Aug. 26, and continuing until further notice will delivered via campus mail to each employee’s campus department.

As a reminder, anyone with a NetID and password are able to set up direct deposit through MySlice. The Payroll Office’s website provides step-by-step instructions to enroll in direct deposit.

Contact the Payroll Office at payroll@syr.edu or 315.443.4042, option 2 with any questions.

Minors Program Registration Reminder

The University considers the safety and well-being of youth program participants to be important. As part of its commitment to provide an open and safe campus environment for all, including minors (those under the age of 18), the University needs to identify all programs, events and activities that serve, or otherwise engage, youth. This is a reminder to the community that virtual interactions with minors are included in this commitment.

Each University program sponsor must consider the impact of all activities conducted during the course of a camp or enrichment program, must appreciate the risks and legal responsibilities and take appropriate measures to manage the potential for exposure to program participants to reasonable foreseeable risks.

Read the full story at Syracuse University News.

Syracuse University Announces Historic Commitment to Financial Aid; 2020-21 Tuition and Fee Rates; and New, Expanded Opportunities for Financial Support

Syracuse University’s 2020-21 budget includes a substantial increase in student financial aid, reaching a historic level of $300 million. That financial commitment, which represents a 7 percent increase over the previous fiscal year, will ensure the doors of opportunity are kept wide open for students of promise and talent from across the socioeconomic spectrum.

For the 2020-21 academic year, the cost of tuition for all full-time undergraduates will increase by 3.9 percent. For those students admitted prior to fall 2018, the tuition totals $50,700. For those admitted in fall 2018 and afterwards, the tuition totals $54,270, a figure that includes the previously announced premium. Room rates for most full-time returning undergraduates will increase by an average 3.5 percent and meal plan rates by an average 2 percent, depending on the housing and meal plans chosen.

Read the full story at Syracuse University News.

Message from Comptroller Regarding Paper Paychecks

All Syracuse University paper paychecks dated this Wednesday, March 18, and continuing until further notice will be mailed via the U.S. Postal Service.

Employees who have not signed up for direct deposit and will therefore receive a paper paycheck should ensure their permanent address is accurate by visiting MySlice and navigating to My Profile > Addresses. As a reminder, anyone with a NetID and password is able to set up direct deposit through MySlice. The Payroll Office’s website provides step-by-step instructions to enroll in direct deposit.

Contact the Payroll Office at payroll@syr.edu or 315.443.4042, option 2, with any questions.

Comptroller Urges All Employees to Take Advantage of Direct Deposit Option

Syracuse University’s Payroll Office pays nearly 12,000 employees every month. Even though the majority of the University’s employees take advantage of direct deposit, nearly 10 percent still receive paper checks on payday. In addition to helping the University meet its sustainability goals by eliminating the need for paper, direct deposit removes the need to physically travel to your office mailbox and then to the bank to deposit paychecks, says Jean Gallipeau, University comptroller.

Read the full story at Syracuse University News.

Building Local Fair Leads to New Partnerships With Local Businesses

Last May, the Office of Community Engagement and the Division of Business, Finance and Administrative Services hosted Syracuse University’s first-ever Building Local procurement fair.

The connections made at that fair have begun to bear fruit on both sides. Laura Cueva, the owner of Interior Innovations, attended the Building Local fair. Her contract furniture and interior architectural solutions firm is located on East Genesee Street, not far from the University. At the fair, she had met with representatives from the University’s Purchasing Department to outline the capabilities of her firm and discuss potential opportunities for doing business with the University and its business units.

Read the full story at Syracuse University News.

Syracuse University Selects Partners Capital as New Outsourced Chief Investment Officer

On Jan. 1, 2020, Partners Capital became the new outsourced chief investment officer (OCIO) for Syracuse University. The Investment and Endowment Committee (IEC) of the Syracuse University Board of Trustees selected Partners to manage the University’s endowment fund after a months-long search, performed as a component of a routine review. The process included an appraisal of the University’s previous OCIO, Pavilion, and the search included several other high-performing investment firms.

Read the full story at Syracuse University News.

Parking Fees Revert to Before-tax Deduction

Recently, Congress repealed section 512(a)(7) of the 2017 Tax Cuts and Jobs Act. As a result of the repeal, Syracuse University employee withholdings for parking fees will be withheld before-tax beginning on January 1, 2020 for calendar year 2020.

Congress retroactively repealed the law, which means employees who had parking fees deducted from their pay during calendar year 2019 will have their W-2 form adjusted in accordance with the repeal of the tax law.

For Syracuse University-specific questions, contact the Payroll Office at 315.443.4042 or email payroll@syr.edu.