Kutztown University Policy 1990-101
Budget Transfer Policy
A. Purpose
The purpose of this policy is to define policies related to budget
transfers.
B. Scope
This policy applies to all departments/offices having budgets
on the SAP Administrative Computer system.
C. Definition(s)
Budget Transfer - The movement of budgeted dollar amounts
from one fund center to another, or from one commitment item to
another within a fund center.
D. Policy & Procedure(s)
Budget holders may request a
budget transfer to move budgeted dollar amounts. Any commitment item
may be increased or reduced (other
than the exceptions listed below).
Approval Process: Deans or directors may approve budget transfers
within or between fund centers in their college or unit of any amount.
Vice Presidents may authorize transfers between any fund centers in their unit.
Exceptions
No transfers may be made from student wages, without the approval of the
budget office. Transfers between personnel and non-personnel commitment
items can only be made by Vice Presidents in order to fund temporary employees
filling regular position vacancies. The President or Vice President of
Administration & Finance can authorize transfers between personnel commitment
items and non-personnel commitment items for any reason.
E & G Budget transfers can only be made between E & G Fund centers (4511XXXXXX).
Requests to move funds from an E & G fund center to a non E & G fund center
(self sustaining fund center or plant fund account, for example) will not be
made except for the following:
- To pay for goods or services received - will be processed in
accordance with the guidelines listed above.
- To fund a multi-year purchase that has been approved in advance
by the Vice President for Administration & Finance or the President.
- To provide E & G support to an auxiliary or other non E & G
program. The transfer must be approved in advance by the Vice
Present for Administration & Finance or the President.
Frequently, especially late in the fiscal year, invoices are
received in Accounts Payable containing price increases and/or
shipping charges not provided for in the purchase requisition,
and in excess of the budget balance. Since the University has
received the goods ordered and is obligated to pay the vendor,
transfers will be made from available resources within the fund center
to fund these overages. Fund center supervisors will be notified when the
overage exceeds $50.
E. Effective Date
July 1, 1990
F. Approved By
Approved on June 15, 1990Revised 4/21/06 by Gerald L.
Silberman
Revised 8/20/07 by Gerald L. Silberman
