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.
FOAP
Is there a form to request a
Budget Transfer?
Yes, to Request a Budget Transfer use Form B03500. You can find a revised form at
http://finance.southtexascollege.edu/businessoffice/forms.html,
under the budget link.
What does the BO-3500 form look
like?
Budget Transfer Form Requirements:
-Organization Name (As it pertains to the
division/department).
- Fund Code
(Where funds are coming from,
i.e., State, Federal, Scholarships, etc.). Budget
transfers between different fund codes are not
allowed due to fund type restrictions.
Example of some fund codes:
Auxiliary – 3XXXXX
Unrestricted – 1XXXXX
Organization Code
(Identifies a unit of
budgetary responsibility and/or departments
within an institution who is responsible for fund.
Examples of some organization codes:
Auxiliary – AXXXXX
Restricted – RXXXXX
- Account Code
(What funds are used for).
Use the budget pool account codes.
710000 Direct Expenditures (Operating)
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.
Extra note to know:
-
Program Code
(Why funds are used)
Examples of program codes include Academic
Support, Student Services, Instruction, etc.
-Increase/Decrease Amount
(Reallocate budget for
future purchases and/or cover negative balances).
-Justification (Brief and clear explanation of reason for
the departmental budget transfer).
-Approval Review Signatures
-Example of Budget Approval Types and Signatures
Budget Types
Requires Signatures
Financial
Manager
Appropriate
Vice President
President
Increase to Budget
Not Allowed
Not Allowed
Not Allowed
Decrease to Budget
Not Allowed
Not Allowed
Not Allowed
Direct Exp, Travel, and Capital Budgets
Financial
Manager
Appropriate
Vice President
President
Increase to Budget
Required
Required
$1,000 or above
Decrease to Budget
Required
Required
$1,000 or above
Salaries and Benefits
To check if your budget transfer
request has been processed, see
FGIBDST – Organization Budget
Status
FGIBDST Purpose:
▪Review budget for all posted items. Items in reserve
are not included as part of Commitments.
-Place your cursor on the organization pool account
FGIBDST Continued
-Click on Options icon/drop down menu
-Click on Transaction Detail Information
-BD01 is original Budget
-BD02 is a budget adjustment
General Rule of Thumb:
Budget Transfers are recorded within the:
1. Same fund,
2. Same/different organization,
3. Same/different account code.
4. 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:
1. expenses should be properly
categorized and charged against the correct
organization (department), and
2. 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, faxed, scanned,
incomplete, or altered budget
transfer forms are not allowed
and will be disapproved.