Request for Budget Adjustment

Revised:    September 9, 2011

Policy

A Request for Budget Adjustment form is needed whenever a department wants to change or transfer their appropriated budget from one account to another. Before any adjustment can be processed by the Budget Office, the Request for Budget Adjustment form must have the proper signatures authorizing the transfer. The Request for Budget Adjustment forms can be obtained from the Budget Office.

Procedure

  1. Amounts budgeted in appropriated accounts (accounts where the first digit in the account number starts with a 1) can only be transferred to other appropriated accounts. Transfers between appropriated and non-appropriated accounts (or auxiliary accoutns) is not allowed since budget amounts in auxiliary accounts do not mean the same thing they do in appropriated accounts.
  2. Budget transfers amonth unit controlled accounts may be made at will with the authorizations described under procedure 8.
  3. Budget transfers between unit controlled Restricted Use accounts and Unit Controlled accounts require the approval of Vice President(s) over the area(s) involved.
  4. Only the Budget Office can make adjustments to the University Controlled accounts.
  5. The Request for Budget Adjustment form is not for transferring actual expenditures or revenue amounts. This form is used only for the transferring or changing of budget amounts. If an expense is charged by mistake to an account, a Journal Entry, not a Budget Adjustment must be made. Write a memo to the Accounting Office and they will make the Journal Entry for you.
  6. In filling out the form, be aware of the following:
    • Enter the correct budget year, account description, and account numbers.
    • Enter the amount in each account that is to be transferred to or from that account. Each amount entered on the form should have a correct transaction sign (TR SN).
      • A plus (+) will increase the expense budget amount or decrease the revenue budget amount
      • A minus (-) will decrease the expense budget amount or increase the revenue budget amount
  7. The auditors require that an explanation be written on this form which best describes why the change is being made. For example, "budget transfer approved by Division Dean to allow department to purchase additional supplies for a special project."
  8. Signatures required are:
    • Transfers within the same account (from Object Code to Object Code) - Individual with primary responsibility over account
    • Transfers from one department to another within the same division - The Department Chairman transferring or giving the funds and the Division Dean
    • Transfers between divisions - The Department and Division Dean transferring or giving the funds and the appropriate Vice President
  9. Submit all completed and signed forms to the Budget Office. After approval by the Budget Officer and Director of Financial Services, this form will be input for processing and posting. Budget adjustments submitted after the end of the month may not show up on your monthly statement until the following month.
  10. Call the Budget Office for any assistance in the use of this form (ext. 1160).