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Budget Transfer - PowerPoint PPT Presentation


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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.

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Budget Transfer


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    1. Budget Transfer

    2. 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.

    3. 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

    4. Is there a form to request a Budget Transfer? Yes, to Request a Budget Transfer use Form B0-3500. You can find a revised form at http://finance.southtexascollege.edu/businessoffice/forms.html, under the budget link.

    5. What does the BO-3500 form look like?

    6. Budget Transfer Form Requirements: Fund Code -Organization Name (As it pertains to the division/department). - (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

    7. - (Identifies a unit of budgetary responsibility and/or departments within an institution who is responsible for fund. Examples of some organization codes:Auxiliary – AXXXXXRestricted – RXXXXX Organization Code

    8. - (What funds are used for). Use the budget pool account codes.710000 Direct Expenditures (Operating)730000 Travel Expenditures740000 Capital Expenditures 770000 ConstructionNote – Account classification codes (i.e. 710014 office supplies, 710016 computer supplies, 710006 promo items, etc.) are used when preparing requisitions. Account Code

    9. Extra note to know:- (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 Program Code

    10. -Example of Budget Approval Types and Signatures

    11. 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

    12. FGIBDST Continued -Click on Options icon/drop down menu -Click on Transaction Detail Information -BD01 is original Budget -BD02 is a budget adjustment

    13. General Rule of Thumb: Budget Transfers are recorded within the: 1. Same fund, Same/different organization, Same/different account code. Increase/decrease amount always offset.

    14. 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.

    15. 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.