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Budget Office - Budget Transfer


Procedure

Title: Budget Transfer
Policy / Procedure No: B/O001
Purpose: To transfer available funds from one budget center to another (account i.d.)
Documentation Needed: A completed Budget Transfer Form.
Special Instructions: Budget transfers are processed any time prior to mid-June (the exact date is announced in May); individuals may process non-salary budget transfers using the online FRS system.

Most transfers are from one expense pool to another unless the expense object code is not pooled. If an object code is pooled, the transfer must be made at the pool level. The expense object code list the Budget Office distributes indicates whether or not an object code is pooled and the pool to which it belongs.

Utilities funds may not be transferred out of the utility budget pools without Budget Office authorization. Transfers involving full-time salaries must indicate the positions that are being affected. Fringe benefit budgets must be adjusted whenever salary dollars are transferred.

Contact Person: Budget Assistant, 247 Richards, x2597.
Documents Needed: Budget Transfer Form available at 247 Richards.
Related Policy/Procedure: FRS Purchasing Documentation.

PROCEDURE:

1. Department staff obtains Budget Transfer Form from the Budget Office.

2. Department staff fills out the form and sends it to 247 Richards. Supporting document should be attached, if necessary, to clarify the transaction.

3. Budget Office staff processes the transfer if funds are available. Otherwise, the Budget Assistant calls the initiator to resolve any problems.