Budget Transfer

Kutztown University Policy FIN-002

  1. Purpose

    This purpose of this policy is to define policies related to budget transfers.   

  2. Scope

    This policy applies to all divisions,     departments and offices having budgets on the SAP administrative computer system. 

  3. Key words and phrases:

    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. 

  4. Policy & Procedure(s)

    1. General Policy:

      Budget holders may request a budget transfer to move budgeted dollar amounts.  Any commitment item may be increased or reduced (other than exceptions listed below). 

    2. Authority:  

      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 division. 

    3. Exceptions:  

      1. 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. 

      2. Budget transfers involving a restricted fund center for sponsored activities (e.g., grants) must follow the Office of Grants and Sponsored Projects Budget Revision Procedure for Sponsored Activities. 

      3. 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. 

  5. Effective Date

    July 1, 1990 
    Revised:  April, 2006 
    Revised: August, 2007 
    Revised: June, 2014 

  6. Approved By

    Approved on June 15, 1990      

  7. Amendments

    6/04/14:  Revised Policy paragraph to add language involving sponsored activities.   

  8. Last Review

    August, 2009 
    August, 2010
    August, 2011 
    August, 2012 
    August, 2013 
    June, 2014 
    June 2026 (renamed from A&F-001)