Budget Transfer

What is a Budget Transfer? A budget transfer increases or decreases the available budget balance in the current fiscal year. Usually, budget is reallocated for future purchases, and/or cover negative balances.

To view available balance, see FGIBAVL – Budget Availability Status FGIBAVL Purpose: ▪Budget Checking – Includes reserve items such as requisitions in‐process and completed requisition in the approval process as part of Commitments.

To view available balance, see FGIBAVL – Budget Availability Status FOAP

Is there a form to request a Budget Transfer? Yes, the Request for Budget Transfer form is B0-3500. You can find the form at: http://finance.southtexascollege.edu/businessoffice/forms.html Note: All forms are subject to change. Therefore, download a current version each time.  

Budget Transfer Form Requirements: -Organization Name -Fund Code - Budget transfers between different fund codes are not allowed due to fund type restrictions. -Organization Code

- Account Code - Use budget pool account codes: 710000 - Account Code - Use budget pool account codes: 710000 Direct Expenditures 730000 Travel Expenditures 740000 Capital Expenditures 770000 Construction Note – Account classification codes (i.e. 710014 office supplies, 710016 computer supplies, 710006 promo items, etc.) are used when preparing requisitions only, and are not used for budget transfers.

-Increase/Decrease Amount – The amount of budget that will be transferred. The total for the increase column must equal the total of the decrease column. Do not use signs (+/-) in the increase and decrease columns. -Justification - Brief and clear explanation of reason for the budget transfer. -Approval Review Signatures

Appropriate Vice President Example of Budget Approval Types and Signatures: The following table outlines allowed usage and the corresponding signatures required. All transfers must be within the same fund code (except for restricted and plant funds). Budget Category Financial Manager(s) Appropriate Vice President President Salaries and Benefits Increase to College Budget Not Allowed Required, and VPFAS Decrease to College Budget Direct Expenditures and Travel Increase to Organization Budget Required $5,000 or more Decrease to Organization Budget Capital Note: Additional approval signature required by VP-FAS on Capital Budget decreases for use of other than intended purpose as listed in the Board Approved Budget.

To check if your budget transfer request has been processed, see FGIBDST – Organization Budget Status FGIBDST Purpose: ▪Review budget for all posted items. Pending items are in FGIBAVL and are not included as part of Commitments.

-Place your cursor on the organization pool account To check if your budget transfer request has been processed, see FGIBDST – Organization Budget Status -Place your cursor on the organization pool account

-Click Related icon/drop down menu FGIBDST Continued -Click Related icon/drop down menu -Click on Transaction Detail Information, (FGITRND)

FGIBDST Continued In the Type column: -BD01 is Original Budget -BD02 is a Budget Adjustment (Budget Transfer)

Budget Transfers are recorded within the: General Rule of Thumb: Budget Transfers are recorded within the: Same fund, Same/different organization, Same/different account code. Increase/decrease amount always offset.

5. When preparing a Request for Budget Transfer Form or initiating requisitions, the main idea we want to put across is that: expenses should be properly categorized and charged against the correct organization (department), and the account charged should not be determined by where the funds are available.

Note: -Transfer requests should be properly completed prior to review and consideration of approval. -Handwritten, incomplete, or altered budget transfer forms are not allowed and will be disapproved.