Auxiliary Enterprise Board

About AEB

Our Purpose

The Auxiliary Enterprise Board Administrative Department (commonly known as “AEB”) provides various financial and administrative services to the Auxiliary Enterprise Board Corporation and other related entities such as Our Children’s Center, the College Association, and the College itself. AEB is a unit of the Office of the Executive Director of Business Management within the Division of Administration & Finance.

AEB is governed by the nonprofit Auxiliary Enterprise Board of New York City College of Technology, Inc. (Corporation) and its thirteen-member Board of Directors, chaired by the College President. The Corporation is organized under the New York Not-for-Profit Corporation Law and is operated exclusively for the charitable purpose of supporting the students, faculty, staff, alumni and other members of the college community by providing non-instructional “auxiliary services” and by otherwise supporting the educational mission of the College and the University. As such, it is self-supporting and covers expenses by generating revenue through contracted services and administrative service fees.

How We Serve You

In compliance with The City University of New York (CUNY) Office of Budget and Finance Financial Management Guidelines and the Bylaws of the Auxiliary Enterprise Board of New York City College of Technology, Inc., we administer the financial operations as well as third-party service contracts.

Budget Reports

We are committed to full transparency and providing our customers with accurate and timely budget information. Monthly budget reports are distributed. Special reports are also created and distributed as needed.

Budget Allocations

We prepare annual operating budget allocations based on historical data and projected revenue and expenses. Proposed allocations are presented to the Board of Directors each fall as part of the annual operating budget process. Budget updates are provided throughout the fiscal year (July 1 - June 30).

Financial System

Financial transactions are maintained in the Sage 50 accounting software to help us meet accounting, internal control and audit requirements.

The Corporation is audited annually by a CUNY-selected independent accounting firm to whom we provide information and records as requested. Any audit findings and/or recommendations are reported to the Board of Directors and its Audit Committee.

Operations

We provide the following financial and administrative support for the Corporation and related entities:

  • Accounting
  • Budgeting
  • Payroll
  • Preparation of financial statements
  • Preparation of tax returns
  • Time and leave recording