Budget Transfer
What is a Budget Transfer?
Budget transfers are processed to move
budget from one account to another, within
the same department, or from one
department to another.
What is the Purpose of a
Budget Transfer?
A budget transfer:
• increases or decreases the available budget
balance in the current fiscal year (Fiscal
Year (September 1 through August 31),
• reallocates funds for future purchases
and/or
• cover negative balances
Is There a Form to Request a
Budget Transfer?
Yes, the Request for Budget Transfer Form is B03500. You can find the form at the Business
Office Website:
http://finance.southtexascollege.edu/businessof
fice/forms.html
What Does the BO-3500 Form Look
Like?
What Data Does the
Budget Transfer Form
Require?
 Organization Name
 Fund Code – (i.e., Restricted 2XXXXX,
Unrestricted 110000, Auxiliary 3XXXXX, etc.),
 Organization Code
What Data Does the Budget
Transfer Form Require?
Continued
 Account Code – (i.e., Expenditure Pools:
Direct 710000, Travel 730000 etc.,
 Amount (Increase/Decrease), no signs
The Increase/Decrease Columns and the Total
Document Amount have formulas in place. Please do
not alter.
What Data Does the Budget
Transfer Form Require?
Continued
 Justification – Brief summary why transfer is
needed
 Signatures – See required signature matrix
Does the Budget Transfer Form
Require Signatures?….Yes
Signatures Required
Budget
Type
Budget
Adjustment
Type
Financial
Manager
Appropriate
Vice President
President
Salaries
Salaries
Increase
Decrease
Not Allowed
Not Allowed
Not Allowed
Not Allowed
Not Allowed
Not Allowed
Operating
Operating
Increase
Decrease
Required
Required
Required
Required
$1,000 or above
$1,000 or above
Travel
Travel
Increase
Decrease
Required
Required
Required
Required
$1,000 or above
$1,000 or above
Capital
Capital
Increase
Decrease
Required
Required
Required
Required
$1,000 or above
Required
General Rule of Thumb:
Budget Transfers are recorded within the:
• Same fund,
• Same/different organization,
• Same/different account code,
• Increase/decrease amount always
equal.
Can We Mix Fund Codes on Budget
Transfers?
• No, budget transfers between different fund
codes are not allowed. Fund codes must be
the same.
– Example of an incorrect transfer attempt:
• 110000 XXXXXX 7XXXXX
• 310000 AXXXXX 7XXXXX
– Example of a correct transfer attempt:
• 110000 XXXXXX 7XXXXX
• 110000 XXXXXX 7XXXXX
Transfers Are Only Allowed Between
Account Pools:
Account Pools:
• 710000 Direct Expenditures (Operating)
• 730000 Travel Expenditures
• 740000 Capital Expenditures
• 770000 Construction, etc.
Note: Account classification codes are used only when
preparing requisitions and are not used in budget transfers.
• 710014 Office Supplies
• 710016 Computer Supplies
• 710006 Promo Items, etc.
•
Where in Banner Can I View the
Available Budget Balance?
FGIBAVL – Enter FOAP
Enter Pool Account Number
When Requesting a Budget Transfer or
Initiating Requisitions, the Main Idea
We Want to Put Across Is:
•
Expenses should be properly categorized and
charged against the correct organization
(department), and
•
The organization and account charged should not be
determined by where the funds are available
Note: Expenses must be properly categorized in order to
adhere to the functional expense classification from the
Integrated Postsecondary Education data Systems (IPEDS)
Financial Survey.
•
•
•
•
•
•
Possible Reasons a Budget
Transfer Will Be Denied
Incorrect
Incomplete, missing data
Handwritten
Altered
Copy; not original
Missing required signatures even though extra signatures are
provided
• Transposed numbers
• Memo authorizing to sign on behalf of another due to
absence is missing
• Transfer amount in excess to available budget balance
Therefore, ensure that your transfer requests are properly
completed prior to submitting for signatures.
How Soon Are Budget Transfers
Posted?
Due to the number of approval signatures
needed and the availability of individuals,
please submit your transfer request with
ample time to avoid processing delays.
Your request will be processed within 48
hours, granted that the form is properly
completed.
To Check the Status of Your
Budget Transfer:
• FGIBDST
• Place your cursor on the organization pool account
To Check the Status of Your
Budget Transfer:
Continued
• Click on Options Menu
• Click on Transaction Detail Information
• BD01 is Original Budget
• BD02 is a Budget Adjustment (Budget Transfer)
Tips to Remember:
• Budget Transfer – is used to move budget from one account
to another within the same fund.
• Journal Entry – is used to reclassify an on-line transaction
and is prepared only by the Business Office.
• IDT – used only between College departments when a
department providing services (provider) needs to bill the
department receiving the services or materials (customer).
– There are four types of IDTs:
• Expenditure
• Revenue
• Food Service
• Student Organization Food Service
Contact Information:
• Elena Jimenez, Budget Specialist
– 872-4620 elenae@southtexascollege.edu
• Nicole Perez, Accounting Group Supervisor
– 872-4633 mnperez@southtexascollege.edu
• Budget Website:
– http://finance.southtexascollege.edu/businessoffi
ce/forms.html